OREGON REAL ESTATE EXAM (PSI) 2025
QUESTIONS & ANSWERS
Upon written acceptance or rejection of an offer a real estate agent must...
- correct-answer-Within 3 banking days provide legible copies of the
offer or counter offer, signed by the seller and buyer, to both the buyer
and seller
Who can close real estate transactions? - correct-answer-escrow agent, attorney,
real estate broker engaged in the transaction, and principal broker.
If a broker is to close a real estate transaction what must first happen? -
correct- answer-Have written authorization from the principal broker and be
under the principal broker's direct supervision.
If nothing is in writing saying an escrow agent or an attorney is to close the
transaction, what must happen? - correct-answer-The principal broker must
close the transaction
In Oregon, the time of possession for adverse possession is? - correct-answer-
10 Years
, land-use planning in Oregon is administered by? - correct-answer-Land
Conservation and Development Commission (LCDC)
Is a deed that is not dated, acknowledged, or recorded valid? - correct-answer-
YES
Tenancy in severalty - correct-answer-Sole ownership of a property.
*TIP: Think of the letter S in the word Severalty as in S for "Single"
Concurrent ownership - correct-answer-Property ownership can be shared by
more than one person.
*TIP: The of C in the word Concurrent as in C for "Couple"
To create a subdivision means to? - correct-answer-Divide land into 4 or more
lots within a calendar year.
When can the lots be sold under a binding contract? - correct-answer-After the
plat has been RECORDED
QUESTIONS & ANSWERS
Upon written acceptance or rejection of an offer a real estate agent must...
- correct-answer-Within 3 banking days provide legible copies of the
offer or counter offer, signed by the seller and buyer, to both the buyer
and seller
Who can close real estate transactions? - correct-answer-escrow agent, attorney,
real estate broker engaged in the transaction, and principal broker.
If a broker is to close a real estate transaction what must first happen? -
correct- answer-Have written authorization from the principal broker and be
under the principal broker's direct supervision.
If nothing is in writing saying an escrow agent or an attorney is to close the
transaction, what must happen? - correct-answer-The principal broker must
close the transaction
In Oregon, the time of possession for adverse possession is? - correct-answer-
10 Years
, land-use planning in Oregon is administered by? - correct-answer-Land
Conservation and Development Commission (LCDC)
Is a deed that is not dated, acknowledged, or recorded valid? - correct-answer-
YES
Tenancy in severalty - correct-answer-Sole ownership of a property.
*TIP: Think of the letter S in the word Severalty as in S for "Single"
Concurrent ownership - correct-answer-Property ownership can be shared by
more than one person.
*TIP: The of C in the word Concurrent as in C for "Couple"
To create a subdivision means to? - correct-answer-Divide land into 4 or more
lots within a calendar year.
When can the lots be sold under a binding contract? - correct-answer-After the
plat has been RECORDED
