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

Which is not necessary for a valid contract?

A	offer
B	due date
C	acceptance
D	legal object

Question 2

Is Oregon a community property state?

A	No
B	Yes

Question 3

Standing trees would be considered:

A	Personal Property
B	Emblements
C	Real property
D	Chattels

Question 4

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

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

Question 5

Does Oregon have homestead laws?

A	Yes
B	No

Question 6

The Salesperson license application fee costs how much?

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

Question 7

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

A	200
B	100
C	125
D	150

Question 8

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

A	Buyer
B	Lessee
C	Lessor
D	Agent

Question 9

Does Oregon allow Holographic wills?

A	Yes
B	No

Question 10

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

A	novation
B	Habendum
C	Premises
D	acknowledgement

Question 11

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

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

Question 12

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

A	West Virginia
B	Oklahoma
C	Wyoming
D	New York

Question 13

The license law is administered by:

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

Question 14

Does Oregon have dower laws?

A	Yes
B	No

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

Question 16

Does Oregon allow reciprocity with other states?

A	Yes
B	No

Question 16 Explanation:

Arkansas Colorado Connecticut Mississippi Nebraska Oklahoma West Virginia Wyoming

Question 17

An easement by prescription may establish:

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

Question 18

What is a holographic will?

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

Question 19

What is homestead protection?

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

Question 20

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

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

Question 21

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

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

Question 22

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 23

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

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

Question 24

What term means "going to the state?"

A	Eminent Domain
B	Taxation
C	police power
D	escheat

Question 24 Explanation:

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

Question 25

What tenancies does Oregon allow?

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

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