Oregon Real Estate Exam (PSI) Questions & verified answers 2023/2024

A broker cannot collect a commission if... - ANS-There is not a written, signed listing or fee agreement that provides an adequate description of the property (address) A commitment is? - ANS-Document from a mortgage lender stating that the lender will be loaning the purchaser/borrower the necessary funds Another name for an easement is? - ANS-Right of way As a real estate agent can you advertise your own property without your principal broker's approval? - ANS-Yes, as long as the home is not listed with the principal broker Branch Office - ANS-Business location other than the main office Can a listing contract have an open expiration date? - ANS-No, for a listing agreement to be valid it must contain a specific expiration date Can a principal broker maintain more than one office location? - ANS-Yes, there must be one designated main office and everything else is considered a branch office. All must be identifiable with proper signage outside each location. Can a rea