Oregon Real Estate Exam (With complete solution)

Within how many business days from the date a client's trust account is opened, a licensed real estate property manager or principal real estate broker shall notify the Real Estate Agency that the account has been opened? correct answers 10 Within how many business days from the date a clients' trust account is closed or transferred, a licensed real estate property manager or principal real estate broker shall notify the agency that the account has been closed or transferred and shall include in the notice the date on which the account was closed or transferred? correct answers 10 The authorizing principal broker's authorization, including the effective date and the termination date of such authorization, which may not exceed how many days? correct answers 90 The Agency will provide a principal broker with written notice at least how many business days before conducting a compliance review? correct answers 5 After the Agency completes a compliance review, the Agency will allow the principal broker at least how many days from the date the compliance review is completed to cure the noncompliance without sanction? correct answers 30 The Agency will provide a principal broker with written notice of a client's trust account reconciliation mail-in review at least how many days before required information and documentation must be provided to the Agency? correct answers 30 When a licensee receives a written acceptance of an offer or counter-offer to purchase real property, the licensee must deliver within how many banking days true, legible copies of the offer or counter-offer, signed by the seller and buyer, to both the buyer and seller? correct answers 3 The notification of litigation to the Commissioner required by this rule must be made within how many calendar days after receiving written notification of an adverse judgment, award, or decision described in this rule. Notification must be made under this rule whether or not the decision is appealed? correct answers 20 As soon as practicable after receiving a demand by one of the parties for the disbursal of funds in a client's trust account, the principal broker must deliver written notice to all parties that a demand has been made for disbursal of the funds, and that such funds may be disbursed to the party who delivered the funds within how many calendar days of the date of the demand? correct answers 20 When a real estate broker receives any Professional Real Estate Activity Records and Documents, the real estate broker must transmit to the real estate broker's principal broker the document within how many banking days of real estate broker's receipt of the document? correct answers 3