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Real Estate Salesperson Exam — National Portion

Trust money (OR): practice questions

Our Real Estate (National) bank has 3 questions on this topic. Here are 3 of them with answers; the full mock exam draws from every topic, like the real one.

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Question 1 · Oregon

How long must the acknowledged trust account notice be kept after the account closes?

  1. One year
  2. Three years
  3. Six years
  4. Ten years
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C. Six years — ORS 696.245(5).

Question 2 · Oregon

Where must an Oregon managing principal broker keep a clients' trust account?

  1. Anywhere
  2. An insured Oregon bank
  3. In the broker's personal account
  4. Offshore
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B. An insured Oregon bank — ORS 696.241.

Question 3 · Oregon

Within how many business days of opening a clients' trust account must the Oregon agency be notified?

  1. 5
  2. 7
  3. 10
  4. 14
Show the answer

C. 10 — ORS 696.245(2).

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