Oregon Real Estate Exam Prep

OR Salesperson Practice Exam

Our Oregon Real Estate Exam Preparation guide will have you quickly prepared for your upcoming Salesperson License Exam. We have helped license over 50,000 students with an exam pass rate of over 95%. The practice exam questions and answers were created by industry experts and are constantly updated to Oregon’s licensing requirements. We stand by our real estate practice exams and offer an exam pass guarantee.

How to Get a Real Estate License in Oregon

The Oregon Real Estate Agency (OREA) requires all applicants to complete 150 hours of approved real estate classes. Once the educational requirements are met, you can then sit for the state’s licensure exam. We have put together the best study guides and practice tests to help applicants pass the Oregon real estate exam on their first try.

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Oregon License Requirements

Oregon issues two basic real estate licenses. They are the broker license and the principal broker license. The licensing requirements for the standard broker license include:
150-hours course of study that consists of the following modules:
- Oregon Real Estate Practice (30 hours)
- Real Estate Law (30 hours)
- Real Estate Finance (30 hours)
- Contracts (15 hours)
- Agency (15 hours)
- Property Management (10 hours)
- Real Estate Brokerage (20 hours)
Applicants must have a high school diploma, GED, or international equivalent
The standard salesperson licensees receiving their Oregon broker license through this process needed to meet two more requirements before working as a sole practitioner:
- 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.

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 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 2

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

A	acknowledgement
B	novation
C	Premises
D	Habendum

Question 3

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

A	West Virginia
B	Wyoming
C	New York
D	Oklahoma

Question 4

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

A	150
B	125
C	200
D	100

Question 5

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

Question 6

Does Oregon have homestead laws?

A	No
B	Yes

Question 7

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

Question 8

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	Being authorized to accept and excessive commission.
C	Placing an ad claiming to be a broker when they are not.
D	Convicted of a felony

Question 9

What is homestead protection?

A	Net cash remaining to investor after sale of investment property
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	The status provided to a home owner's principal residence that protects the home against judgement up to a specified amount.

Question 10

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 11

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

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

Question 12

Is Oregon a community property state?

A	Yes
B	No

Question 13

The Salesperson license application fee costs how much?

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

Question 14

An easement by prescription may establish:

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

Question 15

Which of the following is required for an applicant to receive a Real Estate License?

A	Must have a Bachelors degree
B	Must have lived in the state for more than a year
C	Must be 25 or older
D	Must sit and pass the required exam

Question 16

The license law is administered by:

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

Question 17

What tenancies does Oregon allow?

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

Question 18

Which is not necessary for a valid contract?

A	due date
B	offer
C	acceptance
D	legal object

Question 19

Standing trees would be considered:

A	Emblements
B	Personal Property
C	Real property
D	Chattels

Question 20

Does Oregon allow reciprocity with other states?

A	Yes
B	No

Question 20 Explanation:

Arkansas Colorado Connecticut Mississippi Nebraska Oklahoma West Virginia Wyoming

Question 21

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 offer sheet is signed.
D	Once the seller agrees to the price.

Question 22

Does Oregon allow Holographic wills?

A	No
B	Yes

Question 23

What term means "going to the state?"

A	escheat
B	police power
C	Eminent Domain
D	Taxation

Question 23 Explanation:

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

Question 24

Does Oregon have dower laws?

A	No
B	Yes

Question 25

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

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

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