Oregon Real Estate Broker Exam — All Questions

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AllProperty OwnershipLand Use Controls and RegulationsValuation and Market AnalysisFinancingContractsAgencyProperty DisclosuresTransfer of TitlePractice of Real EstateProperty ManagementReal Estate CalculationsOregon License Law & the Real Estate AgencyOregon Agency Relationships & DisclosureOregon Brokerage Practice & Trust AccountsOregon Licensing Requirements & Renewal

2 questions

Oregon Brokerage Practice & Trust Accounts

In Oregon, who is primarily responsible for maintaining and reconciling a brokerage's clients' trust account for earnest money and other client funds?

  • a.Each individual broker
  • b.The Oregon Real Estate Board
  • c.The principal broker✓
  • d.The title company

The principal broker is responsible for the brokerage's clients' trust accounts, including proper deposit, record-keeping, and monthly reconciliation of earnest money and other client funds held in trust under ORS Chapter 696 and Oregon Administrative Rules.

Oregon Brokerage Practice & Trust Accounts

In Oregon, engaging in professional real estate property management activity for another for compensation generally requires:

  • a.No license of any kind
  • b.A broker, principal broker, or a separate property manager license issued by the Oregon Real Estate Agency✓
  • c.Only a business registration with the county
  • d.A general contractor license

Oregon regulates property management as a distinct licensed activity. A person managing rental real estate for others for compensation must hold an active broker or principal broker license, or a specific Oregon property manager license, all issued by the Oregon Real Estate Agency.

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