Oregon State Real Estate Exam

OR Broker Practice Exam

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Oregon License Requirements

In order to work as a principal broker, these licensees must also
complete the 40-hour Brokerage Administration and Sales Supervision course in addition to the below two requirements.
The licensee must have three years of active, licensed experience, either in Oregon and/or another state
The licensee must pass the real estate broker license exam.
And, when applying for the principal broker license, there is a $230 licensing fee.

Oregon Sample Practice Real Estate Exam Questions and Answers

Oregon State Section

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Question 1

Mortgage "discount" points only apply if which of the following conditions are met?

A	The loan does not close and the buyer owes the lender for services rendered
B	The interest rate on the mortgage loan has been lowered by 2% for each point charged
C	The interest rate on the mortgage loan has been lowered by 1% for each point charged
D	The seller has agreed to pay 1% of the closing costs

Question 2

What term means "going to the state?"

A	Eminent Domain
B	police power
C	Taxation
D	escheat

Question 2 Explanation:

Escheat is if someone dies and there is no one to inherit or no will the property goes to the state.

Question 3

What is homestead protection?

A	Net cash remaining to investor after sale of investment property
B	The estimated value that an asset will have at then end of it's useful life
C	The status provided to a home owner's principal residence that protects the home against judgement up to a specified amount.
D	Gradual subsidence of waters, leaving dry land

Question 4

How many classroom hours are required from an agency approved Pre-Licensing education school?

A	200
B	100
C	150
D	125

Question 5

How soon can a broker receive a commission check after a closing in Oregon?

A	After the transaction is completed and funded.
B	Once the seller agrees to the price.
C	When the Buyer moves in.
D	Once the offer sheet is signed.

Question 6

Who is responsible for maintaining a habitable property and for complying with local housing and building codes?

A	Lessee
B	Buyer
C	Lessor
D	Agent

Question 7

The license law is administered by:

A	Oregon Department of Education
B	Oregon Department of Taxation & Finance
C	The Real Estate & Professional Licensing Division of the Oregon Department of Commerce
D	Oregon Department of Revenue

Question 8

Which of the following isn't part of a deed?

A	Habendum
B	Premises
C	novation
D	acknowledgement

Question 9

Does Oregon have homestead laws?

A	Yes
B	No

Question 10

Standing trees would be considered:

A	Real property
B	Chattels
C	Emblements
D	Personal Property

Question 11

An easement by prescription may establish:

A	homestead rights
B	who owes back taxes
C	use of property
D	a claim to title

Question 12

Which of the following would not put a sales person in jeopardy of losing their license in Oregon?

A	Depositing his/her clients escrow money into a personal account
B	Convicted of a felony
C	Being authorized to accept and excessive commission.
D	Placing an ad claiming to be a broker when they are not.

Question 13

Does Oregon allow reciprocity with other states?

A	Yes
B	No

Question 13 Explanation:

Arkansas Colorado Connecticut Mississippi Nebraska Oklahoma West Virginia Wyoming

Question 14

Which of the following is required for an applicant to receive a Real Estate License?

A	Must sit and pass the required exam
B	Must have a Bachelors degree
C	Must have lived in the state for more than a year
D	Must be 25 or older

Question 15

In what circumstances, if any, can a broker in Oregon who is serving as an intermediary representing both parties collect compensation from both the buyer and the seller?

A	Only when both buyer and seller have legal representation
B	In most circumstances, except when the buyer and seller are related
C	Only when both buyer and seller give informed consent to this arrangement
D	None; the broker may only collect compensation from one party to a transaction

Question 16

The Salesperson license application fee costs how much?

A	$230
B	$40
C	$50
D	$100

Question 17

What tenancies does Oregon allow?

A	Joint tenancy
B	Neither
C	Tenancy by the entirety
D	Both

Question 18

What is a holographic will?

A	a will that has been approved by each family member.
B	a will and testament that has been entirely handwritten and signed by the testator.
C	a standard boiler plate will.
D	a will that displays in 3D

Question 19

Which is not necessary for a valid contract?

A	legal object
B	acceptance
C	due date
D	offer

Question 20

After getting the real estate license, how often must you take Continuing Education classes?

A	40 hours every two years
B	never
C	30 hours every two years
D	20 hours every year

Question 21

Is Oregon a community property state?

A	No
B	Yes

Question 22

Which of the following is not a state that participates in reciprocity?

A	New York
B	West Virginia
C	Wyoming
D	Oklahoma

Question 23

Does Oregon have dower laws?

A	Yes
B	No

Question 24

Does Oregon allow Holographic wills?

A	Yes
B	No

Question 25

Which of the following is a landlord's option for a tenant not paying the rent?

A	shutoff the gas
B	shut off the power
C	unlawful detainer action in court
D	lock the tenant out of the apartment

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