Oregon State Real Estate Exam

OR Broker Practice Exam

Our Oregon Broker Real Estate Exam Prep guide will have you quickly prepared for your upcoming Oregon Broker License Exam. We have helped license over 50,000 students with an exam pass rate of over 95%. The practice exam questions and answers were created by industry experts and are constantly updated to Oregon’s licensing requirements. We stand by our real estate practice exams and offer an exam pass guarantee.

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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

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

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

Question 2

What is homestead protection?

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

Question 3

Is Oregon a community property state?

A	Yes
B	No

Question 4

What term means "going to the state?"

A	police power
B	Eminent Domain
C	escheat
D	Taxation

Question 4 Explanation:

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

Question 5

The Salesperson license application fee costs how much?

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

Question 6

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

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

Question 7

Does Oregon allow reciprocity with other states?

A	No
B	Yes

Question 7 Explanation:

Arkansas Colorado Connecticut Mississippi Nebraska Oklahoma West Virginia Wyoming

Question 8

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

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

Question 9

An easement by prescription may establish:

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

Question 10

Which is not necessary for a valid contract?

A	acceptance
B	offer
C	legal object
D	due date

Question 11

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

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

Question 12

Does Oregon allow Holographic wills?

A	Yes
B	No

Question 13

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 will that displays in 3D
D	a standard boiler plate will.

Question 14

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

A	100
B	150
C	200
D	125

Question 15

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

A	Oklahoma
B	West Virginia
C	New York
D	Wyoming

Question 16

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

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

Question 17

What tenancies does Oregon allow?

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

Question 18

Standing trees would be considered:

A	Personal Property
B	Real property
C	Emblements
D	Chattels

Question 19

Does Oregon have homestead laws?

A	No
B	Yes

Question 20

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

A	Premises
B	acknowledgement
C	Habendum
D	novation

Question 21

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

A	Buyer
B	Agent
C	Lessor
D	Lessee

Question 22

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

Question 23

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

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

Question 24

Does Oregon have dower laws?

A	Yes
B	No

Question 25

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