Oregon Broker PSI Practice Exam

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Study for the Oregon Broker PSI Exam. Quiz with flashcards and multiple choice questions with hints and explanations. Prepare for your exam efficiently!

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What happens to a broker's license in Oregon if their agency relationship with a principal broker is terminated?

It becomes inactive within 30 days
It is revoked immediately
It is transferred to another agency
It remains active until renewed

The correct answer is: It becomes inactive within 30 days

In Oregon, when a broker's agency relationship with a principal broker is terminated, their license becomes inactive within 30 days. This means that the broker will not be able to conduct any real estate transactions or represent clients during this period unless they establish a new agency relationship with another principal broker. The rationale for this process is to ensure that there is always a responsible supervising principal broker overseeing the actions of the broker. The state requires that licenses can only remain active if there is a valid agency relationship in place. This emphasizes the importance of proper oversight and mentorship within the real estate profession, ensuring that all brokers are accountable to a licensed principal broker. Thus, the correct choice accurately reflects the regulations governing real estate brokers in Oregon regarding the status of their licenses after a termination of the agency relationship.