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

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	None; the broker may only collect compensation from one party to a transaction
D	Only when both buyer and seller give informed consent to this arrangement

Question 2

Which is not necessary for a valid contract?

A	offer
B	due date
C	acceptance
D	legal object

Question 3

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

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

Question 4

The license law is administered by:

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

Question 5

What is a holographic will?

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

Question 6

An easement by prescription may establish:

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

Question 7

Is Oregon a community property state?

A	Yes
B	No

Question 8

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

A	Lessee
B	Lessor
C	Buyer
D	Agent

Question 9

What term means "going to the state?"

A	police power
B	Eminent Domain
C	escheat
D	Taxation

Question 9 Explanation:

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

Question 10

Does Oregon have dower laws?

A	Yes
B	No

Question 11

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

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

Question 12

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 1% for each point charged
C	The seller has agreed to pay 1% of the closing costs
D	The interest rate on the mortgage loan has been lowered by 2% for each point charged

Question 13

What tenancies does Oregon allow?

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

Question 14

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

A	200
B	100
C	150
D	125

Question 15

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

A	Habendum
B	acknowledgement
C	novation
D	Premises

Question 16

Standing trees would be considered:

A	Chattels
B	Emblements
C	Personal Property
D	Real property

Question 17

Does Oregon have homestead laws?

A	Yes
B	No

Question 18

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

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

Question 19

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

A	West Virginia
B	Wyoming
C	New York
D	Oklahoma

Question 20

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	Gradual subsidence of waters, leaving dry land
D	The status provided to a home owner's principal residence that protects the home against judgement up to a specified amount.

Question 21

Does Oregon allow reciprocity with other states?

A	No
B	Yes

Question 21 Explanation:

Arkansas Colorado Connecticut Mississippi Nebraska Oklahoma West Virginia Wyoming

Question 22

Does Oregon allow Holographic wills?

A	No
B	Yes

Question 23

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

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

Question 24

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

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

Question 25

The Salesperson license application fee costs how much?

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

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