Real Estate
An Oregon real estate license must be held by a person who performs which of the following acts? 1. take a listing from a real property owner with the expectation of receiving a commission 2. charge a consultation fee to a seller for advice on marketing real property 3. receive a commission for selling a mobile home located on a rental space in a mobile home facility
1 and 2 only
Property management agreements may be negotiated and signed by a 1. real estate property manager 2. real estate broker associated with a principal broker who allows property management 3. non-licensed employee of a principal real estate broker
1 and 2 only
A non licensed personal assistant to an Oregon broker associated with a principal real estate broker could legally perform which of the following activities? 1. install signs and lock boxes on listed properties 2. prepare and submit advertising to a newspaper as long a the broker reviews it.
1 only
A real estate broker associated with a principal broker who hires an unlicensed person to work as a personal assistant could legally 1. pay the assistant a salary. 2. share a commission with the assistant.
1 only
The license of an active Oregon Real Estate broker who is associated with a principal broker 1. must be renewed before the expiration date to remain active 2. must be displayed in the office of the principal broker under whom the broker is licensed
1 only
a buyer gives $20,000 as earnest money to a real estate broker with instructions to deposit it into an interest bearing account because the transaction may not close in escrow for a year. Under these circumstances, 1. funds must be deposited in a federally insured interest bearing account, provided both parties to the transaction give their written consent 2. interest that accrues must be paid to the buyer since the buyer requested the account
1 only
if a principal broker uses a neutral escrow depository for earnest money deposits 1. there must be agreement from all parties who have an interest in the trust funds 2. no copy of the real estate sale agreement has to be kept in the office transaction file
1 only
if the branch office or a real estate firm maintains a separate clients' trust account, it must also, 1. maintain a separate bookkeeping system 2. file the original copy of each listing agreement, real estate sale agreement and closing statement with the main office within 60 days of the transaction
1 only
if the principals agree to deposit earnest money into the principal broker's clients' trust account, the principal broker can deposit the money into a federally insured interest-bearing account only if 1. he has written approval from the purchaser and the seller 2. interest earned is credited to the purchaser
1 only
regardless of where the principal broker resides, the records for professional real estate activity conducted in Oregon must be retained 1. within the state of Oregon 2. for seven years after the date of the transaction
1 only
Which of the following must be deposited in a clients' trust account or neutral escrow? 1. earnest money deposits 2. collected rents to be prorated at closing 3. sales proceeds yet to be disbursed
1, 2 and 3
Non-licensed employees of a property manager may 1. collect rents from tenants 2. negotiate property management agreements with owners 3. negotiate rental agreements with tenants 4. show properties to prospective tenants
1, 3 and 4 only
A real estate broker receives an earnest money deposit of $15,000 from a buyer with instructions to deposit the money into an interest-bearing account because the transaction may not close in escrow for a year. Under these circumstances, the 1. interest which accrues must be paid to the purchaser since he was the party that requested the money be placed in an interest- bearing account. 2. funds must be deposited in a federally insured interest-bearing account, provided both parties to the transaction have given their written consent.
2 only
An Oregon resident CAN engage in real estate without license if 1. they only negotiate one transaction each year for another person for compensation 2. they deal in estate property as an appointed executor of the estate
2 only
Susan is a real estate broker associated with Brown Realty in Portland. Which of the following statements about Susan's commissions is true? 1. Susan can pay part of her commissions received from her principal broker to an unlicensed person if the person lives outside the state of Oregon. 2. Susan can pay Kim, a real estate broker associated with a different principal broker than Susan, a finder's fee but it has to be paid by Susan's principal broker to Kim's principal broker and then from Kim's principal broker to Kim.
2 only
When a real estate broker transfers to a different principal broker: 1. the real estate broker may take all of his existing listings with him to the new office 2. an acknowledgement of transfer must be sent to the receiving principal broker
2 only
Which of the following acts requires an Oregon real estate license? 1. negotiation between a buyer and a seller for the sale of a mobile home located on a rental space in a mobile home facility 2. acceptance of a listing to sella. farm
2 only
Which situation requires a property manager to comply with license law and administrative rules? 1. the rental of his personally owned properties 2. the lease-option of his personally-owned properties
2 only
With their principal broker's permission and supervision, a real estate broker could do which of the following? 1. manage an office for 120 consecutive days 2. Close a transaction
2 only
a principal broker can place clients trust funds into an interest bearing account only if 1. the interest earned on the account is not credited to the broker 2. all parties who have an interest in the funds give their written permission
2 only
which of the following is correct about listing agreements? 1. the buyer must be given a copy upon request 2. a copy of a listing agreement must be kept with the principal broker
2 only
Oregon law requires that principal brokers keep adequate records of all professional real estate activity for not less than ___________after the date of the transaction - 10 years - 2 years - 6 years - 1 year
6 years
how long after the date of the transaction are Oregon licensees required to keep records? - 2 years - 4 years - 6 years - 8 years
6 years
Which of the following individuals is NOT exempt from licensing law requirements while engaging in property management activity? - A hotel representative in the business of arranging transient lodging at a hotel or inn - A railroad company arranging transient lodging at a hotel or inn in the course of its business - An innkeeper arranging transient lodging at his inn - A limited partner in a limited partnership who, on a part-time basis, is acting under a separate, written property management agreement to rent the real property of the limited partnership
A limited partner in a limited partnership who, on a part-time basis, is acting under a separate, written property management agreement to rent the real property of the limited partnership
There are exemptions to licensing. Which IS required to be licensed - A Department of Veterans' Affairs employee selling foreclosed homes. - A person who, for a fee, markets rental property and collects rent. - A person performing professional real estate activity under a court order. - A general partner who engages in a real estate transaction for a limited partnership.
A person who, for a fee, markets rental property and collects rent
According to Oregon real estate license law, a principal real estate broker: 1. must maintain a definite place of business 2. is responsible for the actions of affiliated licensees and must supervise their professional real estate activity
Both 1 and 2
Which is TRUE of a personal representative who wishes to sell some of the real estate included in the estate? 1. The can advertise the property without a real estate license 2. The can negotiate the sale of the property without a real estate license
Both 1 and 2
Which of the following categories of licensees, without charging a fee, could legally offer a seller an estimate of the sales price of the seller's property for the purpose of obtaining a listing? 1. real estate broker 2. principal real estate broker
Both 1 and 2
Which of the following constitutes engaging in professional real estate activity as defined by Oregon law? 1. a person who, for a fee, rents real estate owned by others to the public 2. a person who, for a fee, assists owners only in procuring prospective tenants for the owners' rental property.
Both 1 and 2
a broker associated with a principal real estate broker was asked by a property owner to prepare a CMA for the owner's residence. Under Oregon Law, which of the following statements about a CMA are true? 1. a fee may be charged by providing a CMA 2. the analysis may not be contingent upon reporting a pre-determined value
Both 1 and 2
a real estate principal broker is required by the Oregon license law to do which of the following 1. Notify the bank at which he maintains a clients' trust account in writing that the account is for the purpose of holding funds belonging to others and keep an acknowledged copy of the notice in the broker's records 2. Give the Real Estate Agency the name of the bank, account number, and name of account for each clients' trust account the broker maintains
Both 1 and 2
Jaquine, a principal broker, authorizes an associated real estate broker personally guarantee a profit from land purchased and held one year before it is resold. What is the effect if the real estate broker acts on this authorization? - No disciplinary action of the principal broker would be taken, since such guarantees are void by law. - No disciplinary action of the principal broker would be taken, since the real estate broker actually made the guarantee. - Only the principal broker is subject to disciplinary action, since he is responsible for the real estate broker's actions. - Both the principal broker and the real estate broker are subject to disciplinary action for the guarantee.
Both the principal broker and the real estate broker are subject to disciplinary action for the garantee
An unlicensed personal assistant to a real estate broker could legally do which of the following? - discuss the terms of a sale with a seller - discuss information about property listed by the real estate broker - obtain verification of sewer connection for a listed house from the city public works office at the client's request - deliver documents to a buyer
Deliver documents to a buyer
It is a violation of the real estate license law for a real estate broker to conduct real estate activity - during the time the license is on inactive status. - after the license has expired. - while waiting for the license to be reissued to another principal broker. - during all the above.
During all the above
A real estate broker associated with a principal broker received from a cooperating broker an offer to purchase a property with earnest money in the form of a certified check made out to the brokerage firm. What should the real estate broker do with the check? - Deposit the check in the real estate broker's Clients' Trust Account - Endorse the check and forward it to the cooperating broker - Give the check to his own principal broker as soon as possible - Forward the check to the cooperating broker with the offer to purchase
Give the check to his own principal broker as soon as possible
A person can work as a secretary in a real estate office without obtaining a real estate license. That secretary can legally perform which of the following functions... I. transmit information from a multiple listing to a phone prospect if no one else is in the office II. verify the accuracy of listing information supplied by a broker by checking the records at the county tax office.
II only
when an unlicensed assistant engages in any activity that requires a real estate license, the unlicensed assistant - is subject to civil fines by the real estate commissioner - could legally share in a commission with the employing licensee. - is shielded by labor laws for actions brought by the Real Estate Commissioner. - is exempt from license law when the assistant is paid a salary.
Is subject to civil fines by the real estate commissioner
One of the individuals below is required to hold an active real estate license. Which individual is it? - Nathaniel Wickerbuck, an attorney rendering real estate services for his law firm, Wickerbuck and Tenderbloom. - Miguel's sister, Rosario, who is helping Miguel negotiate with a buyer for the transfer of an ownership interest in Miguel's real estate. - Jeffrey, the personal representative of his deceased father, acting under his father's will. - Remy, a registered engineer assessing the foundation of a house that his friend, Taylor, has under contract for purchase.
Miguel's sister, Rosario, who is helping Miguel negotiate with a buyer for the transfer of an ownership interest in Miguel's real estate
Which of the following is NOT an activity that non-licensed employees of a property manager may perform? - Collect rents from tenants - Negotiate and sign property management agreements with owners - Negotiate and sign rental agreements with tenants - Check tenant references
Negotiate and sign property management agreements with owners
Which property management activity would require a real estate license? - Supervision of on-site managers - Negotiation of property management agreement with property owner - Negotiation of rental agreements with tenants - Physical maintenance of the real property
Negotiation of property management agreement with property owner
A branch office registration is necessary to use a: I. model unit, available for sale, in a. subdivision for promotion of interest in the development II. temporary structure for dissemination of information
Neither I or II
Robert Mosher owns Mosher Real Estate Mart Inc., a registered business name that conducts professional real estate activity in Oregon. Robert is required to hold - an active principal broker's license - an active real estate broker's license - an active sole practitioner broker's license - none of the above
None of the above
Which of the following acts are permitted under the Oregon License Law? - A real estate broker associated with a principal broker sharing a commission directly with a licensee from another office - A principal broker paying a finder's fee directly to a licensee associated with another principal broker - A principal broker paying a finder's fee to an unlicensed person for referring a buyer - None of the above
None of the above
Which statement about a property manager's clients' trust funds is FALSE - The receipt must be recorded on the appropriate owner's ledger account and appropriate tenant's ledger account. - The deposit must be made within five banking days after the date of receipt of the funds included in the deposit. - The deposit must be accompanied by a bank deposit receipt identifying each payment of funds included within the deposit. - The deposit may be made into an interest-bearing account without the prior written authorization of the owner of the property managed.
The deposit may be made into an interest bearing account without the prior written authorization of the owner of the property managed
A licensee who offers personally owned property for sale is required to disclose to the other parties to the transaction - the fact that he has a real estate license. - the name of his principal broker, if the licensee is a real estate broker. - the title insurance company that will issue a standard title insurance policy. - the name of the financial institution the purchaser's earnest money will be deposited.
The fact that he has a real estate license
An Oregon real estate broker's unlicensed personal assistant directly participated in negotiations between a seller and purchaser. Which of the following is true about this situation? - The personal assistant could legally collect a commission from the transaction. - the personal assistant would be in violation of the real estate license law - Personal assistants are allowed to participate in negotiations as long as they do not collect a commission. - Personal assistants are allowed to participate in negotiations as long as they do not sign any documents.
The personal assistant would be in violation of the real estate license law
at the time the seller accepts the buyer's offer, the question of the disposition of forfeited earnest money is a matter for negotiation between - the principal broker and seller. - the principal broker and buyer. - the buyer and seller. - the buyer, seller, and all principal brokers involved in the transaction.
The principal broker and seller
if a buyer makes an earnest money deposit and later forfeits the deposit, what is the disposition of the forfeited earnest money - The real estate broker and the seller must negotiate the disposition of forfeited earnest money at the time they complete a listing agreement or real estate sale agreement. - The real estate broker and the seller must always equally divide the forfeited earnest money between them. - The seller is always entitled to the full amount of the earnest money deposit. - The real estate broker is always entitled to the amount of the broker's expenses incurred, and the seller is entitled to the balance of the forfeited earnest money.
The real estate broker and the seller must negotiate the disposition of forfeited earnest money at the time their complete a listing agreement or real estate agreement
According to Oregon administrative rules, if a sole proprietor real estate principal broker dies which of the following statements is false? - The sole proprietor broker's listing agreements must be transferred to the Real Estate Commissioner for the purpose of winding up the affairs of the sole proprietor broker. - Listing agreements in which there are no outstanding offers or earnest money receipts must be terminated upon the death of the sole proprietor broker. - The Real Estate Commissioner may issue a temporary license to the executor of the sole proprietor broker's estate and that executor will be subject to the Oregon real estate license laws and administrative rules. - The holder of a temporary license must not enter into any new listing or sales agreements.
The sole proprietor broker's listing agreements must be transferred to the Real Estate commissioner for the purpose of winding up the affairs of the sole proprietor broker
Smith is a real estate broker associated with Brown Realty. Jones is a real estate broker associated with White Realty. Both firms belong to the same multiple listing service. Smith secures a listing and it is placed in the multiple listing service. Jones sells the property for White Realty. Jones can collect a commission directly from - White realty - the escrow agent who closes the transaction - brown realty - the owner of the property
White Realty
a property manager, with the required written consent of all parties having an interest in the clients trust funds, may place the funds in - a non-federally insured, interest-bearing bank account. - a federally insured, interest-bearing bank account. - an investment fund which invests in U.S. government bonds but is not federally insured. - U.S. government bonds investments.
a federally insured, interest bearing account
which of the following statements about listing agreements is NOT true? - A listing agreement in Oregon is limited to 180 days duration. - A copy of the listing agreement must be kept with the principal broker. - Each listing agreement shall state a definite expiration date. - The seller should always be given a true legible copy of the listing.
a listing agreement in Oregon is limited to 180 days
in which of the following situations may an Oregon principal broker pay a listing finder's fee? - A licensed Oregon real estate property manager for professional real estate activity which involved the lease-option of real estate - A real estate broker previously licensed with the principal broker who earned the fee prior to transferring his license - A real estate broker associated with another principal broker - A licensed Oregon real estate property manager for professional real estate activity which involved the sale of real estate
a real estate broker previously licensed with the principal broker who earned the fee prior to transferring his license
Who of the following is required by Oregon law to have a real estate license? - a college student receiving free rent while acting as a residence manager of the fourplex he lives in - a son selling his mother's property under power of attorney - a woman who receives a finders' fee for soliciting buyers for her sister, who is licensed - a property owner selling his investment property
a woman who recieves a finders' fee for soliciting buyers for her sister, who is licensed
Interest accrued on an interest bearing clients trust account may not be directly paid to the - seller - principal broker - purchaser - affiliated broker
affiliated broker
Oregon principal real estate brokers must keep records for six years. Those records include - files for transactions that failed - tenant rental agreements - reconciled bank statement for clients trust accounts - all of the above
all of the above
for six years, a principal real estate broker must retain all: - listing agreements and earnest money receipts. - clients' trust account records and ledgers. - vouchers, bills, or obligations paid for the account of a client from the trust account. - All of the above.
all of the above
principal brokers must supervise which of the following activities of brokers? - completion of an exclusive right to sell listing agreement - completion of a comparative market analysis - completion of a real estate sale agreement - all of the above
all of the above
if a principal broker or property manager places trust funds in an interest bearing clients account - the funds of one client cannot be deposited in the same account with the funds of another client. - all parties having an interest in the funds must give approval. - the interest earned may not be kept by the sole practitioner or principal broker or property manager. - the interest earned must be given to the person who tendered the funds.
all parties having an interest in the funds must give approval
The Oregon Real Estate Commissioner can revoke a real estate license for - acting in the dual capacity of agent and undisclosed principal in any transaction. - acting for more than one party in a transaction without the knowledge and written permission of all parties for whom he acts. - failure to deliver promptly a completed copy of any purchase agreement or offer to buy or sell real estate to the purchaser and to the seller. - any of the above reasons.
any of the above reasons
A person who holds an inactive real estate license 1. may not engage in professional real estate activity 2. must disclose they have a real estate license when buying or selling property on their own account on at least the first written document of agreement
both 1 and 2
Jackson, a real estate broker, hired Wanda as an unlicensed personal assistant to help with mundane daily tasks. Wanda discussed the terms of an ongoing sale with a prospective buyer. Who is responsible for Wanda's violation of real estate law? 1. Jackson 2. Jackson's principal broker
both 1 and 2
Oregon Real Estate license law permits administrative action to be taken against a principal broker's license for failing to 1. notify the real estate agency of the principal broker's change of address 2. retain files of all real estate activity for 6 years from the termination or expiration
both 1 and 2
Oregon Real estate license law restricts brokers associated with principal brokers from 1. bringing a lawsuit against a seller for payment of a commission 2. directly accepting a finder's fee from a principal broker with whom the broker is not licensed
both 1 and 2
Oregon law requires a principal broker who closes their office to 1. notify the real estate agency where the records will be stored 2. maintain records within the state of oregon
both 1 and 2
What must be done by the principal broker when establishing a clients trust account? 1. notify the real estate agency of the name of the bank, account number and name of the account 2. supply a notice to the bank that the account is maintained only for clients funds
both 1 and 2
a licensee can be guilty of misrepresentation by 1. direct acts or statements 2. acts of omission, such as failure to disclose vital information
both 1 and 2
a principal broker may 1. have trust accounts and separate bookkeeping systems for each office 2. place rental collections on properties owned into a personal account
both 1 and 2
a real estate property manager can 1. have trust accounts and separate bookkeeping systems for each office 2. place rental collections from personal properties into a personal account
both 1 and 2
records of a principal broker for professional real estate activity conducted in Oregon must be retained 1. for a minimum of six years 2. within the state of Oregon
both 1 and 2
which of the following statements concerning requirements of an Oregon principal brokers clients trust account is FALSE - Clients must be notified of the account number and name of the bank in which the trust funds are deposited. - The bank at which the clients' trust account is open must be notified that the account is maintained for money belonging to clients. - A branch office may maintain a separate clients' trust account as long as a separate bookkeeping system is maintained for the branch office. - The Real Estate Agency must be notified of the bank, account number and name of account of all of the clients' trust accounts.
clients must be notified of the account number and name of the bank in which the trust funds are deposited
a licensed real estate property manager may - list the owner's rental property for sale - collect a commission for the lease of an owner's real estate - negotiate a lease-option for an owner of real estate - collect a commission for the lease-option of an owner's real estate
collect a commission for the lease of an owner's real estate
a licensed real estate property manager may - receive a referral fee from a principal broker who sells apartment complexes - list the owner's rental property for sale. - collect a commission for the lease of an owner's real estate. - negotiate a lease-option for an owner of real estate.
collect a commission for the lease of an owner's real estate
a principal real estate broker hired a number of part time employees to show property, pass out brochures, quote prices and state terms of the sale of real property in a development. a real estate broker will be on site at the development to fill out all the earnest money agreements. The part-time employees will not sign the documents. - employees must be real estate licensees - principal real estate broker is not in violation since a licensee filled out and signed the documents - employees could legally quote prices and terms as long as they did not fill out the forms - broker is not in violation as long as the employees were paid on an hourly basis
employees must be real estate licensees
a licensee can renew an inactive real estate license - once, for a three-year term. - not more than twice, each time for two years. - only after taking an examination on current real estate matters. - every two years, indefinitely.
every two years, indefinitely
tom is an Oregon sole practitioner principal broker that is closing his office and moving to another state. what is tom required to do with his real estate records? - take the records with him - find a place in Oregon to store the records for the six year requirement - tom is free to dispose of the records - tom must send his records to the real estate agency for storage
find a place in Oregon to store the records for the six year requirement
a real estate principal broker or property manager must retain records of his Oregon real estate activity - for six years after the date of the transaction. - for seven years after the date of the transaction. - for ten years after the date of the transaction. - as long as his license is on active status.
for six years after the date of the transaction
a property manager must open and maintain at least one clients trust account - unless each month the owner instructs the property manager to deposit all collected funds directly into the owner's personal bank account. - except if the owner instructs the property manager in writing to deposit all collected funds directly into the owner's personal bank account. - for the deposit of funds received on behalf of owners of property managed under property management agreements. - unless all funds collected for an owner by the resident manager of a rental complex are immediately deposited into the personal bank account of the resident manager.
for the deposit of funds received on behalf of owners of property managed under property management agreements
a real estate sale agreement is signed by both the buyer, Lori Unruh and the seller, Leo and Evelyn Robertson but the transaction falls through because Evelyn refuses to sign the deed conveying title. the broker handling the transaction - is entitled to a full commission. - is entitled to half of the commission specified in the listing agreement. - must transfer the earnest money from the clients' trust account to a neutral escrow agent. - has violated a fiduciary obligation to Unruh.
is entitled to a full commission
which is NOT an activity that can be performed by a licensed real estate property manager - Rent an owner's rental properties - Advertise for tenants for an owner's properties - Lease an owner's rental properties - List an owner's rental properties for sale
list an owner's rental properties for sale
the original, executed copy of a property management agreement - must be retained by the owner of the rental unit. - may be filed and retained by the non-licensed employee of the property manager at the rental site. - must be filed and maintained by the property manager. - may be filed and maintained by the property manager in his branch office located nearest to the rental unit.
must be filed and maintained by the property manager
Mary is a real estate broker associated with principal broker Larry. Tom is also a principal broker. Mary procured a sale for Tom's listing. Tom expressed his appreciation by directly paying Mary a $200 bonus. Which of the following statements is true concerning this situation? 1. This is acceptable because Tom is a principal broker. 2.. This is acceptable as long as principal broker Larry is notified by principal broker Tom.
neither 1 or 2
Under Oregon law, it is legal for a real estate broker associated with a principal broker to directly pay a finder's fee for referring a buyer to - a real estate broker associated with another principal broker. - a close relative or friend.
neither 1 or 2
Under Oregon real estate license law, funds in a principal broker's clients trust account can be subject to 1. attachment on a claim against the principal broker 2. execution on a claim against the principal broker
neither 1 or 2
a real estate broker associated with a principal broker participating in a real estate transaction is allowed to accept compensation directly from the 1. seller 2. buyer
neither 1 or 2
a real estate broker is transferring to a new principal broker at a different company. That real estate broker can transfer which of the following to the new office? 1. pending sales 2. listings signed within the last 30 days
neither 1 or 2
a real estate broker associated with a principal broker is allowed to accept a commission directly from which of the following - the seller - the buyer - the escrow agent - none of the above
none of the above
it is legal for a principal broker to place clients trust funds in an interest bearing account in Oregon - with only written approval - only if the account is federally insured - as long as the licensee does not receive the interest on the account - under no circumstances
only if the account is federally funded
a real estate broker associated with a principal broker may do which of the following activities without the following supervision? - engage in property management if the real estate broker has held a real estate license for a minimum of 5 years - set up a property management business if the principal real estate broker agrees - lease-option the real estate brokers own property - rent or lease the real estate broker's own real estate
rent or lease the real estate broker's own real estate
a real estate broker associated with a principal broker may do which of the following without supervision? - set up a property management business - rent or lease their real estate - lease-option their real estate - sell their real estate
rent or lease their rental estate
Charles Rupp is an active principal broker and is required to keep records for all professional real estate activity for - one year - three years - six years - ten years
six years
Charles Rupp is an active real estate property manager in Oregon and must keep records of all his professional real estate activity for a period of - one year - six years - eight years - eleven years
six years
a principal broker must maintain a complete record of all funds, promissory notes, or other consideration received on real estate offers and transactions for a minimum of - one year - two year - six years - seven years
six years
trust account records must be maintained for - one year - three years - six years - ten years
six years
signed copies of listings, deposit receipts, real estate sale agreements and other contracts must be kept for - one year - two years - three years - six years
six yeras
an Oregon principal real estate broker wants to place a booth in the local shopping mall to display information on listings. The booth will be regularly staffed by licenses. Which is true in this situation - the booth needs to be registered as a branch office - as long as the booth is open for less than six months it will not need to be registered as a branch office -the booth does not need to be registered as a branch office - the law prohibits the use of such information displays
the booth needs to be registered as a branch office
Which statement is TRUE when a principal broker has an independent contractor relationship with an associated real estate broker? - The real estate broker is NOT required to have their personal transactions supervised by the principal broker. - The listings obtained by the real estate broker may be transferred if the real estate broker moves to another principal broker's office. - The principal broker MUST supervise the real estate broker's real estate activities. - The principal broker is NOT responsible for reviewing the real estate broker's advertising.
the principal broker is MUST supervise the real estate broker's real estate activities
what must the principal broker do when one of the principal broker's associated real estate brokers has listed personally owned property for lease-option with the principal broker? - The principal broker must ensure the real estate broker's license status is disclosed on the principal broker's signs and advertising for the property. - The principal broker must maintain complete records for six years of any transaction arising from the listing. - The principal broker may allow the real estate broker to pay a commission directly to any cooperating licensee who works with the real estate broker on a transaction. - The principal broker may allow the real estate broker to work outside the principal broker's supervision since this is a lease-option.
the principal broker must maintain complete records for six years of any transaction arising from the listing
which statement is FALSE concerning an inactive real estate broker involved in a lease option of a personally-owned real estate? - the transaction must be supervised by a principal real estate broker - The real estate broker must deposit all funds received in the transaction into a neutral escrow depository. - The real estate broker must maintain a transaction file on the transaction as if the transaction were being handled by a principal real estate broker. - The real estate broker must disclose their license status to the other party to the transaction.
the transaction must be supervised by a principal broker
After a broker's agency relationship with an Oregon principal broker is terminated, the broker's license, if not reissued, revoked or suspended, will become an inactive license within - five calendar days - fifteen calendar days - twenty business days - thirty calendar days
thirty calendar days