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

What tenancies does Oregon allow?

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

Question 2

Does Oregon allow Holographic wills?

A	Yes
B	No

Question 3

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

A	Agent
B	Buyer
C	Lessor
D	Lessee

Question 4

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 5

The Salesperson license application fee costs how much?

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

Question 6

Does Oregon have homestead laws?

A	No
B	Yes

Question 7

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	Once the offer sheet is signed.
D	When the Buyer moves in.

Question 8

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

A	Premises
B	novation
C	acknowledgement
D	Habendum

Question 9

The license law is administered by:

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

Question 10

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

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

Question 11

An easement by prescription may establish:

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

Question 12

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 be 25 or older
D	Must have lived in the state for more than a year

Question 13

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

A	150
B	125
C	200
D	100

Question 14

Does Oregon allow reciprocity with other states?

A	No
B	Yes

Question 14 Explanation:

Arkansas Colorado Connecticut Mississippi Nebraska Oklahoma West Virginia Wyoming

Question 15

What is homestead protection?

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

Question 16

Is Oregon a community property state?

A	No
B	Yes

Question 17

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

A	New York
B	Wyoming
C	West Virginia
D	Oklahoma

Question 18

Does Oregon have dower laws?

A	Yes
B	No

Question 19

Which is not necessary for a valid contract?

A	acceptance
B	due date
C	legal object
D	offer

Question 20

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 21

What is a holographic will?

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

Question 22

What term means "going to the state?"

A	escheat
B	police power
C	Eminent Domain
D	Taxation

Question 22 Explanation:

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

Question 23

Standing trees would be considered:

A	Real property
B	Chattels
C	Personal Property
D	Emblements

Question 24

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 25

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