Oregon Broker Psi Exam 2023 (A+ GRADED)

How long must real estate documents be kept? correct answers 6 years, from the date the transaction was accepted, rejected, or withdrawn Who approves advertising? correct answers Principal broker When should the principal broker review brokers documents? correct answers 7 days of the document's acceptance, rejection or withdrawal. The PB must sign and initial at the time of review How long must you keep attendance and continuing records? correct answers 3 years everything else regarding business for 6 years When should you notify the real estate agency that a client's trust account has been opened/closed? correct answers 10 business days from the date it was closed or opened When informing the RE agency a trust account has been opened what info must be included? correct answers name of bank, account number, name of account, date it was created, and acknowledgment A broker associated with a principal real estate broker was asked by a property owner to prepare a competitive market analysis for the owners residence. Under Oregon law, which of the following statements about a CMA is true? correct answers A fee may be charged for proving a CMA the analysis may not be contingent upon reporting a predetermined value Under OR law if a principal real estate broker establishes an independent contractor relationship with an associated real estate broker correct answers The principal broker must supervise the real estate brokers real estate activities to conform to the OR real estate license and law administrative rules Non licensed employees of a property manager may do all of the following except correct answers negotiate and sign property management agreement with owners An OR resident may engage in RE without a license if correct answers he deals in estate property as an appointed executor of the estate The license of an active OR real estate broker who is associated with a principal broker correct answers Must be renewed before the expiration date to remain active After a broker's agency relationship with an OR principal broker is terminated the brokers license if it is not reissues revoked or suspended will become correct answers inactive license within 30 calendar days OR law provides that a person may renew an inactive real estate license correct answers every two years indefinitely