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

Does Oregon allow Holographic wills?

A	Yes
B	No

Question 2

Standing trees would be considered:

A	Personal Property
B	Emblements
C	Real property
D	Chattels

Question 3

Does Oregon have homestead laws?

A	Yes
B	No

Question 4

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

A	Lessor
B	Buyer
C	Lessee
D	Agent

Question 5

What term means "going to the state?"

A	Taxation
B	escheat
C	Eminent Domain
D	police power

Question 5 Explanation:

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

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 1% 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 2% for each point charged

Question 7

What tenancies does Oregon allow?

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

Question 8

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

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

Question 9

The license law is administered by:

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

Question 10

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

A	New York
B	West Virginia
C	Wyoming
D	Oklahoma

Question 11

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

A	novation
B	Premises
C	acknowledgement
D	Habendum

Question 12

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

Question 13

Does Oregon have dower laws?

A	Yes
B	No

Question 14

The Salesperson license application fee costs how much?

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

Question 15

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

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

Question 16

Does Oregon allow reciprocity with other states?

A	No
B	Yes

Question 16 Explanation:

Arkansas Colorado Connecticut Mississippi Nebraska Oklahoma West Virginia Wyoming

Question 17

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 be 25 or older
D	Must sit and pass the required exam

Question 18

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

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

Question 19

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

A	100
B	200
C	150
D	125

Question 20

Which is not necessary for a valid contract?

A	offer
B	due date
C	legal object
D	acceptance

Question 21

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 22

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	Gradual subsidence of waters, leaving dry land
C	The estimated value that an asset will have at then end of it's useful life
D	Net cash remaining to investor after sale of investment property

Question 23

An easement by prescription may establish:

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

Question 24

Is Oregon a community property state?

A	Yes
B	No

Question 25

What is a holographic will?

A	a standard boiler plate will.
B	a will that displays in 3D
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.