Oregon Real Estate Exam (PSI) Questions You Must
Know in order to pass your Oregon State Exam /
Actual Quizzes & Ans
Terms in this set (59)
How many consecutive years 5 consecutive years, the right is considered forfeited
of non-use of water does one
lose their water rights in
Oregon?
Who must register the Principal Broker, must register the business name with REA-(Real
business name? Estate Agency) under their name.
How long must real estate 6 years, from the date the transaction was accepted, rejected, or
documents be kept? withdrawn
Who approves advertising? The principal broker
When should the principal 7 days, of the documents acceptance, rejection, or
broker review a brokers withdrawal. The principal broker must initial and date the
Documents? document in writing at the time of review
How long must you keep 3 years, All other records regarding business are kept for 6
attendance & continuing years
education records?
10 business days, from the date the account was opened or
When should you notify
closed
the Real Estate agency a
clients trust account has
been closed/opened?
, When informing the real 1. Name of the bank
estate agency a clients trust 2. Account Number
account has been opened.
3. Name of the account
What information is to be
included? 4. Date the account was opened
5. Acknowledged copy of the notice
How long can a broker 90 days, with written authorization and broker accepts in
temporarily supervise due to writing the effective & termination date. The broker must
the absence of the principal also have 3years of active real estate experience.
broker?
Who must maintain CE Principal brokers and brokers must maintain all their own CE
(continuing education) records for 3years
records
Only accepted course for Advanced Practices Course & LARRC aka Law & Rule
renewing real estate license Required course
for the first time
Continuing education Principal brokers & brokers are required to complete
requires what? 30hours of continuing education each 2year license cycle
Your first renewal must include 3hour law & rule
required course aka (LARRC) & 27hours broker
advanced practices course
How long until earnest 3 banking days
money needs to be
deposited?
Amend Authorization Before Termination Date
In the principal brokers
absence he may assign a
broker to temporarily
supervise. The authorizing
principal broker must file
what to end the authorized
broker before the agreed
upon termination date?
Know in order to pass your Oregon State Exam /
Actual Quizzes & Ans
Terms in this set (59)
How many consecutive years 5 consecutive years, the right is considered forfeited
of non-use of water does one
lose their water rights in
Oregon?
Who must register the Principal Broker, must register the business name with REA-(Real
business name? Estate Agency) under their name.
How long must real estate 6 years, from the date the transaction was accepted, rejected, or
documents be kept? withdrawn
Who approves advertising? The principal broker
When should the principal 7 days, of the documents acceptance, rejection, or
broker review a brokers withdrawal. The principal broker must initial and date the
Documents? document in writing at the time of review
How long must you keep 3 years, All other records regarding business are kept for 6
attendance & continuing years
education records?
10 business days, from the date the account was opened or
When should you notify
closed
the Real Estate agency a
clients trust account has
been closed/opened?
, When informing the real 1. Name of the bank
estate agency a clients trust 2. Account Number
account has been opened.
3. Name of the account
What information is to be
included? 4. Date the account was opened
5. Acknowledged copy of the notice
How long can a broker 90 days, with written authorization and broker accepts in
temporarily supervise due to writing the effective & termination date. The broker must
the absence of the principal also have 3years of active real estate experience.
broker?
Who must maintain CE Principal brokers and brokers must maintain all their own CE
(continuing education) records for 3years
records
Only accepted course for Advanced Practices Course & LARRC aka Law & Rule
renewing real estate license Required course
for the first time
Continuing education Principal brokers & brokers are required to complete
requires what? 30hours of continuing education each 2year license cycle
Your first renewal must include 3hour law & rule
required course aka (LARRC) & 27hours broker
advanced practices course
How long until earnest 3 banking days
money needs to be
deposited?
Amend Authorization Before Termination Date
In the principal brokers
absence he may assign a
broker to temporarily
supervise. The authorizing
principal broker must file
what to end the authorized
broker before the agreed
upon termination date?
