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Oregon Real Estate Exam (PSI) Questions and Answers | Latest Version | 2025/2026 | Correct & Verified
What is the primary responsibility of a buyer's agent?✔✔ To represent the best interests of the buyer in a transaction
Who issues real estate licenses in Oregon?✔✔ Oregon Real Estate Agency
What must a licensee do before conducting any real estate activity?✔✔ Activate their license with a principal broker
What is the required status of trust account records in Oregon?✔✔ Up to date and readily available for inspection
How long must Oregon real estate transaction records be kept?✔✔ Six years
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What is the maximum amount that can be paid from the Oregon Real Estate Recovery Fund per transaction?
✔✔ $50,000
What does an earnest money deposit show?✔✔ The buyer’s good faith intention to purchase
What is the definition of a dual agency in Oregon?✔✔ When one licensee represents both the buyer and the seller
What must be disclosed in an agency disclosure pamphlet?✔✔ The duties owed to clients and customers
When must the agency disclosure pamphlet be provided?✔✔ At first substantial contact
What type of listing agreement allows the seller to find a buyer without paying a commission?✔✔ Open listing 2 / 3
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Who holds the earnest money in a real estate transaction?✔✔ The principal broker or escrow agent
What happens if a licensee’s trust account is not reconciled monthly?✔✔ The broker may face disciplinary action
What does a seller’s property disclosure in Oregon include?✔✔ Known material defects of the property
What is the cooling-off period for timeshare purchases in Oregon?✔✔ Five business days
What is the definition of commingling in real estate?✔✔ Mixing client funds with personal funds
How often must a principal broker review a licensee’s advertising in Oregon?✔✔ As often as necessary to ensure compliance
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