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

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 2

Does Oregon have dower laws?

A	Yes
B	No

Question 3

Which is not necessary for a valid contract?

A	acceptance
B	due date
C	legal object
D	offer

Question 4

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 5

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

A	Habendum
B	Premises
C	acknowledgement
D	novation

Question 6

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

Question 7

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 8

Is Oregon a community property state?

A	Yes
B	No

Question 9

Does Oregon allow reciprocity with other states?

A	Yes
B	No

Question 9 Explanation:

Arkansas Colorado Connecticut Mississippi Nebraska Oklahoma West Virginia Wyoming

Question 10

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

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

Question 11

Does Oregon have homestead laws?

A	Yes
B	No

Question 12

The license law is administered by:

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

Question 13

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	Only when both buyer and seller have legal representation
C	None; the broker may only collect compensation from one party to a transaction
D	Only when both buyer and seller give informed consent to this arrangement

Question 14

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

A	Wyoming
B	Oklahoma
C	West Virginia
D	New York

Question 15

An easement by prescription may establish:

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

Question 16

The Salesperson license application fee costs how much?

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

Question 17

What term means "going to the state?"

A	escheat
B	police power
C	Eminent Domain
D	Taxation

Question 17 Explanation:

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

Question 18

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 loan does not close and the buyer owes the lender for services rendered
D	The seller has agreed to pay 1% of the closing costs

Question 19

What is a holographic will?

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

Question 20

What tenancies does Oregon allow?

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

Question 21

Standing trees would be considered:

A	Emblements
B	Real property
C	Chattels
D	Personal Property

Question 22

Does Oregon allow Holographic wills?

A	Yes
B	No

Question 23

What is homestead protection?

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

Question 24

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	shut off the power
C	unlawful detainer action in court
D	shutoff the gas

Question 25

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

A	150
B	125
C	100
D	200

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Oregon State Section

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