Oregon Real Estate Exam (PSI) Questions.pdf file:///C:/Users/HP/Desktop/New%20folder%20(2)/Oregon%20Real%
Oregon Real Estate Exam (PSI)
Questions & Answers
1. How many consecutive years of non-use of water does one lose their water
rights in Oregon?
Answer 5 consecutive years, the right is considered forfeited
2. Who must register the business name?
Answer Principal Broker, must register thebusiness name with REA-(Real Estate
Agency) under their name.
3. How long must real estate documents be kept?
Answer 6 years, from the date thetransaction was accepted, rejected, or
withdrawn
4. Who approves advertising?
Answer The principal broker
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,Oregon Real Estate Exam (PSI) Questions.pdf file:///C:/Users/HP/Desktop/New%20folder%20(2)/Oregon%20Real%
5. When should the principal broker review a brokers Documents?
Answer 7 days, ofthe documents acceptance, rejection, or withdrawal.The principal
broker must initialand date the document in writing at the time of review
6. How long must you keep attendance & continuing education records?
Answer 3years, All other records regarding business are kept for 6 years
7. When should you notify the Real Estate agency a clients trust account has
been closed/opened?
Answer 10 business days, from the date the account was openedor closed
8. When informing the real estate agency a clients trust account has been
opened.What information is to be included?
Answer 1. Name of the bank
2. Account Number
3. Name of the account
4. Date the account was opened
5. Acknowledged copy of the notice
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