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

Does Oregon have homestead laws?

A	Yes
B	No

Question 2

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

Question 3

The license law is administered by:

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

Question 4

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

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

Question 5

What tenancies does Oregon allow?

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

Question 6

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

A	acknowledgement
B	novation
C	Premises
D	Habendum

Question 7

Standing trees would be considered:

A	Personal Property
B	Chattels
C	Emblements
D	Real property

Question 8

What term means "going to the state?"

A	Eminent Domain
B	Taxation
C	escheat
D	police power

Question 8 Explanation:

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

Question 9

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	In most circumstances, except when the buyer and seller are related
C	Only when both buyer and seller give informed consent to this arrangement
D	Only when both buyer and seller have legal representation

Question 10

The Salesperson license application fee costs how much?

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

Question 11

Does Oregon have dower laws?

A	Yes
B	No

Question 12

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

A	Wyoming
B	Oklahoma
C	West Virginia
D	New York

Question 13

Does Oregon allow Holographic wills?

A	Yes
B	No

Question 14

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

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

Question 15

An easement by prescription may establish:

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

Question 16

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	Gradual subsidence of waters, leaving dry land
D	The estimated value that an asset will have at then end of it's useful life

Question 17

Does Oregon allow reciprocity with other states?

A	No
B	Yes

Question 17 Explanation:

Arkansas Colorado Connecticut Mississippi Nebraska Oklahoma West Virginia Wyoming

Question 18

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

A	100
B	150
C	200
D	125

Question 19

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

A	Lessor
B	Lessee
C	Buyer
D	Agent

Question 20

What is a holographic will?

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

Question 21

Is Oregon a community property state?

A	Yes
B	No

Question 22

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

Question 23

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

Question 24

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 25

Which is not necessary for a valid contract?

A	acceptance
B	legal object
C	due date
D	offer

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