Or. Admin. R. 863-022-0021

Current through Register Vol. 63, No. 6, June 1, 2024

Section 863-022-0021 - Advanced Practices Course Requirement for the First Active Renewal of Principal Broker License

(1) The principal broker advanced practices course required by OAR 863-020-0010 before the first active renewal of a principal broker license, or before the first license reactivation following an inactive first renewal, is an Agency approved 27-hour principal broker advanced practices course.

(2) A principal broker who is required to take the advanced practices course in order to renew a license must also complete the Law and Rule Required Course required under OAR 863-020-0010.

(3) An Agency-approved principal broker advanced practices course must include 27 clock-hours allocated among topics in the number of hours as follows:

(a) (4 hours) Brokerage Practices;

(b) (4 hours) Supervision and Managing Real Estate Licensees;

(c) (3 hours) Clients' Trust Accounts;

(d) (3 hours) Records and Maintenance;

(e) (4 hours) Property Management;

(f) (3 hours) Advertising;

(g) (3 hours) Affirmative Duties of Agent & Agency Relationships;

(h) (3 hours) Professional Real Estate Activity;

(4) To receive credit for an advanced practices course, a principal broker must complete the course and receive a passing score of at least 75% on a final examination containing 60 questions.

(5) The licensee must obtain a certificate of course completion and maintain it as required by OAR 863-020-0015.

(6) The principal broker advanced practices course and the Law and Rule Required Course are eligible for continuing education credit under OAR 863-020-0010.

Or. Admin. R. 863-022-0021

REA 34-2018, adopt filed 10/09/2018, effective 10/31/2018; REA 1-2022, amend filed 04/27/2022, effective 5/1/2022

Statutory/Other Authority: ORS 696.385

Statutes/Other Implemented: ORS 696.174