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 of the following isn't part of a deed?

A	acknowledgement
B	novation
C	Habendum
D	Premises

Question 2

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

A	West Virginia
B	New York
C	Wyoming
D	Oklahoma

Question 3

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

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

Question 4

Does Oregon allow reciprocity with other states?

A	No
B	Yes

Question 4 Explanation:

Arkansas Colorado Connecticut Mississippi Nebraska Oklahoma West Virginia Wyoming

Question 5

Which is not necessary for a valid contract?

A	acceptance
B	due date
C	legal object
D	offer

Question 6

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

A	Agent
B	Lessor
C	Buyer
D	Lessee

Question 7

Standing trees would be considered:

A	Chattels
B	Emblements
C	Personal Property
D	Real property

Question 8

The license law is administered by:

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

Question 9

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

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

Question 10

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	Being authorized to accept and excessive commission.
C	Depositing his/her clients escrow money into a personal account
D	Convicted of a felony

Question 11

An easement by prescription may establish:

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

Question 12

What is a holographic will?

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

Question 13

What is homestead protection?

A	The estimated value that an asset will have at then end of it's useful life
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	Net cash remaining to investor after sale of investment property

Question 14

Does Oregon allow Holographic wills?

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 have legal representation
D	Only when both buyer and seller give informed consent to this arrangement

Question 16

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 have lived in the state for more than a year
D	Must sit and pass the required exam

Question 17

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

Question 18

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

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

Question 19

Does Oregon have homestead laws?

A	No
B	Yes

Question 20

What tenancies does Oregon allow?

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

Question 21

What term means "going to the state?"

A	police power
B	Eminent Domain
C	Taxation
D	escheat

Question 21 Explanation:

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

Question 22

The Salesperson license application fee costs how much?

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

Question 23

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

A	100
B	125
C	150
D	200

Question 24

Does Oregon have dower laws?

A	No
B	Yes

Question 25

Is Oregon a community property state?

A	Yes
B	No

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