Oregon State Real Estate Exam

OR Broker Practice Exam

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Oregon Sample Practice Real Estate Exam Questions and Answers

Oregon State Section

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Question 1

The Salesperson license application fee costs how much?

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

Question 2

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 3

Which is not necessary for a valid contract?

A	due date
B	offer
C	acceptance
D	legal object

Question 4

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

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

Question 5

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

A	200
B	125
C	100
D	150

Question 6

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

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

Question 7

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

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

Question 8

The license law is administered by:

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

Question 9

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

A	Habendum
B	novation
C	Premises
D	acknowledgement

Question 10

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

A	Agent
B	Lessor
C	Lessee
D	Buyer

Question 11

Does Oregon have homestead laws?

A	Yes
B	No

Question 12

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

A	West Virginia
B	New York
C	Wyoming
D	Oklahoma

Question 13

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	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 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 term means "going to the state?"

A	police power
B	Taxation
C	escheat
D	Eminent Domain

Question 15 Explanation:

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

Question 16

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 17

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 18

Is Oregon a community property state?

A	Yes
B	No

Question 19

What tenancies does Oregon allow?

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

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	Being authorized to accept and excessive commission.
D	Convicted of a felony

Question 21

Does Oregon allow Holographic wills?

A	No
B	Yes

Question 22

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 have a Bachelors degree
C	Must sit and pass the required exam
D	Must be 25 or older

Question 23

Does Oregon have dower laws?

A	Yes
B	No

Question 24

Standing trees would be considered:

A	Emblements
B	Personal Property
C	Chattels
D	Real property

Question 25

An easement by prescription may establish:

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

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Oregon State Section

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