Oregon Real Estate Practice Test

When is the renewal of a real estate license considered effective?

1. Immediately upon payment.

2. When renewal requirements are met.

3. After a grace period.

4. At the beginning of the next fiscal year.

The correct answer is: When renewal requirements are met.

The renewal of a real estate license is considered effective when all renewal requirements are met. This means that the license will remain valid only once the necessary criteria have been fulfilled, which typically includes completing continuing education requirements, submitting a renewal application, and paying any required fees. Simply paying the fee or a grace period does not establish the effectiveness of the renewal; it is the completion of all mandated steps that ensures that the license holder continues to meet the regulatory standards necessary for practicing real estate legally. Additionally, the timing of the next fiscal year or any grace period does not influence the immediate effectiveness of the license renewal.