Oregon Broker PSI Practice Exam

What must an active Oregon real estate broker's license do before the expiration date to remain active?

1. Be renewed with a fee

2. Be transferred to another principal broker

3. Be reissued every year

4. Be canceled if not renewed

The correct answer is: Be renewed with a fee

To keep an active Oregon real estate broker's license, it must be renewed with a fee before the expiration date. This renewal process typically involves paying a required fee, which ensures that the broker remains compliant with state regulations. The renewal serves to verify that the broker has continued to meet the qualifications necessary to practice and that they are maintaining their professional knowledge and skills. This requirement is essential for ensuring that brokers stay informed about changes in laws, market conditions, and best practices in real estate, thereby protecting consumers and maintaining the integrity of the profession. The other options do not accurately represent the requirements for maintaining an active license. A broker's license does not need to be transferred to another principal broker simply to remain active, nor does it need to be reissued annually. While a license can be canceled if not renewed, this does not describe an active requirement for maintaining the license but rather a consequence of failing to renew. Thus, renewing the license with a fee is the correct and necessary action for an active Oregon real estate broker.