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.

For more information on state requirements click here.

Oregon Sample Practice Real Estate Exam Questions and Answers

Oregon State Section

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Question 1

What is a holographic will?

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

Question 2

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

A	Agent
B	Buyer
C	Lessee
D	Lessor

Question 3

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

A	West Virginia
B	Oklahoma
C	Wyoming
D	New York

Question 4

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 5

Does Oregon have dower laws?

A	No
B	Yes

Question 6

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	Convicted of a felony
D	Depositing his/her clients escrow money into a personal account

Question 7

Is Oregon a community property state?

A	Yes
B	No

Question 8

Which is not necessary for a valid contract?

A	legal object
B	offer
C	due date
D	acceptance

Question 9

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

A	Premises
B	Habendum
C	novation
D	acknowledgement

Question 10

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 11

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

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

Question 12

Does Oregon allow reciprocity with other states?

A	No
B	Yes

Question 12 Explanation:

Arkansas Colorado Connecticut Mississippi Nebraska Oklahoma West Virginia Wyoming

Question 13

What term means "going to the state?"

A	Taxation
B	escheat
C	police power
D	Eminent Domain

Question 13 Explanation:

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

Question 14

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

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

Question 15

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

Question 16

What tenancies does Oregon allow?

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

Question 17

Does Oregon have homestead laws?

A	No
B	Yes

Question 18

The Salesperson license application fee costs how much?

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

Question 19

Does Oregon allow Holographic wills?

A	Yes
B	No

Question 20

Standing trees would be considered:

A	Real property
B	Emblements
C	Chattels
D	Personal Property

Question 21

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

A	100
B	150
C	125
D	200

Question 22

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

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

Question 23

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

Question 24

An easement by prescription may establish:

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

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 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