Oregon Broker PSI Practice Exam

What is the required retention period for attendance and continuing education records?

1. 1 year

2. 3 years

3. 5 years

4. 6 years

The correct answer is: 3 years

The required retention period for attendance and continuing education records is three years. This time frame is established to ensure that all records are available for review and verification if necessary, particularly by regulatory agencies that oversee real estate practices. Maintaining these records for three years provides a reasonable period for addressing any compliance issues or audits that may arise regarding a broker's continuing education requirements. It reflects the average time frame in which records are relevant to confirm a professional's qualifications and adherence to state-mandated education standards. Longer periods, such as five or six years, are typically used in different contexts or for other types of records, but for attendance and continuing education records specifically, three years strikes the necessary balance between compliance and practicality.