Free Oregon Real Estate Practice Exam Questions (July 2024) 50+

“A civil penalty imposed under this subsection may not exceed $10,000.” Per ORS 696.990 Penalties.

“No, with one exception. Oregon law permits an owner to refuse to rent to unmarried, unrelated persons of the opposite sex if it would result in common use of bath or bedroom facilities.” Per Oregon Labor & Industries.

Principal brokers and property managers must keep copies of all records of professional real estate activity conducted by licensees on behalf of the business for at least 6 years. Per Oregon Real Estate Agency.

“Any person that violates ORS 696.020 (License required for individuals engaged in professional real estate activities) (2) may be required by the Real Estate Commissioner to forfeit and pay to the General Fund of the State Treasury a civil penalty in an amount determined by the commissioner of: not less than $100 nor more than $500 for the first offense of unlicensed professional real estate activity; and not less than $500 nor more than $1,000 for the second and subsequent offenses of unlicensed professional real estate activity.” Per ORS 696.990 Penalties.

Oregon real estate law allows dual agency only with the written consent of the principal given after receiving full disclosure by the agent.

Regarding real estate license reciprocity, Oregon has some. Oregon has reciprocity agreements with Alabama, Alberta, Georgia, Nebraska, and South Dakota.

All of the following actions are allowed aside from holding open houses. Per Oregon Codes: licensees; permitted and prohibited activities.

“Notify the Agency within 10 days of any changes to your email or mailing address by logging in to eLicense and completing an address change. Failure to do so may result in disciplinary action.” Per Oregon New Licensee Information.

There is no law that dictates how much of an earnest money deposit a home buyer in Oregon should pay, and The Oregon Real Estate Agency does not regulate the amount either.

Acted as a licensed real estate broker in a transaction that resulted in over a 3% commission is perfectly legal. All other options are violations of Oregon License Law. These are outlined under ORS Violations 696.301.

No. Under the Fair Housing Act, persons with handicaps are protected from discrimination. Individuals who have or have had AIDS are protected by the Act. Real Estate Agents or Brokers may not mention the handicap of the individual unless granted permission from the said individual.

Commingling is when a licensee mixes funds held in care for a client with their own funds.

None of the acts. She cannot list or sell homes anywhere in Oregon. She also cannot host any open houses unless she is actively licensed.

Jackie is responsible. It is up to each and every licensee to track their own continuing education.

None, all agents and brokers are required to complete required continuing education.

The Oregon Real Estate Agency is the state agency that licenses real estate brokers, principal brokers, property managers, and escrow agents.

They must include their license status in advertisements for the sale of the property. “The advertisement must, however, state that the owner is a real estate licensee and comply with all other applicable license law provisions (e.g. be truthful and not misleading).” Per Oregon Administrative Rules Affecting Advertising.

Continuing education is required for Oregon licensees every 24 months or two years. Brokers and Principal Brokers in Oregon must obtain 30 hours of continuing education per cycle. 3-hour Law and Rule Course and a 27-hour Broker Advanced Practices​ for first-time renewers. 3-hour Law and Rule Course and 27 hours in miscellaneous qualifying required topics​ for second or any time after renewers. Per Oregon Real Estate Agency.

There are two ways Oregon designates the division of land. Subdividing is where the owners divide their land into four or more units, called lots. The other method used in Oregon is partitioning, which is means dividing an area of land into two (2) or three (3) parcels.

“Oregon’s laws protect people from being treated differently because of their: race, color, religion, sex, national origin, whether or not you have kids, disability (also: source of income, domestic violence survivors, marital status, sexual orientation, and gender identity).” Per Oregon Labor & Industries.

Usury laws deal with the limit of interest a lender can charge, and those do exist in Oregon.

All of the following actions are allowed aside from performing a walk-through inspection. Per Oregon Unlicensed Assistant Guidelines, permitted and prohibited activities.

Per Oregon License Law. “OAR 863-015-0125(4): The licensed name or registered business name of the principal broker, sole practitioner, or property manager must be prominently displayed, immediately noticeable, and conspicuous in all advertising.” A sponsored licensee cannot advertise under their own name. The name CAN be included, but the ad must be in the licensed name or registered business name of the principal broker.

All of the following are violations of Oregon License Law. These are outlined under ORS Violations 696.301.

Per Oregon Law, salaried employees of the state or any of its political subdivisions are not required to be licensed while engaging in real estate activities as long as its a specific part of their employment.

“The term of a temporary license issued under this section may not exceed one year from the date of issuance unless the commissioner, in the discretion of the commissioner, extends the term of the temporary license based on sufficient cause provided by the temporary licensee to the commissioner.” Per ORS 696.205.

Commingling is forbidden. Oregon Revised Statute (ORS) 696.241 prohibits commingling any other funds with trust funds in a client's trust account.

Liens are invalid after 120 days if no lawsuit to foreclose on the lien has been filed and no extension of time has been awarded.” Per Oregon Construction Liens State pamphlet.

In Oregon; there is no state law that dictates what a broker may charge for a commission. The commission is completely negotiable in the listing contract. Usury laws deal with the limit of interest a lender can charge, and those do exist in Oregon.

A certificated water right remains valid forever so long as it is used. “Once established, a water right must be used as provided in the right at least once every five years. With some exceptions established in law, after five consecutive years of non-use, the right is considered forfeited and is subject to cancellation.” Per Oregon Water Code.

“Any person that violates ORS 696.020 (License required for individuals engaged in professional real estate activities) (2) may be required by the Real Estate Commissioner to forfeit and pay to the General Fund of the State Treasury a civil penalty in an amount determined by the commissioner of: not less than $100 nor more than $500 for the first offense of unlicensed professional real estate activity; and not less than $500 nor more than $1,000 for the second and subsequent offenses of unlicensed professional real estate activity.” Per ORS 696.990 Penalties.

A net listing is a listing agreement that allows the agent to keep everything over the minimum (net) price set by the seller.

“Oregon’s laws protect people from being treated differently because of their: race, color, religion, sex, national origin, whether or not you have kids, disability (also: source of income, domestic violence survivors, marital status, sexual orientation, and gender identity).” Per Oregon Labor & Industries.

“Absent the buyer’s written instructions to the contrary; the real estate broker must transmit all earnest monies to the principal broker within three banking days of receipt.” Per The Oregon Real Estate Agency 863-015-0257.

Title theory states function where banks or mortgage lenders hold the title of a property until it is paid in full. Oregon practices title theory.

“Oregon’s laws protect people from being treated differently because of their: race, color, religion, sex, national origin, whether or not you have kids, disability (also: source of income, domestic violence survivors, marital status, sexual orientation, and gender identity).” Per Oregon Labor & Industries. The Federal Fair Housing Act only covers Color, Disability, Familial status, Gender, National Origin, Race, and Religion.

Of course he is not; with or without his tenants approval, he cannot deny someone housing just because of a disability. Under Oregon Fair Housing Law, you cannot deny housing to qualified people with disabilities, plain and simple.

Oregon Fair Housing law probits landlords from refusing to rent apartments to visually impaired persons on the basis of the owner's "no pets" policy. It also prohibits charging extra for seeing eye dogs, like in Matts's situation. So Keith could only charge $1,000.

A violation of the Oregon Revised Statutes is a class A misdemeanor violation crime.

All of the following actions are prohibited aside from assisting a licensee at an open house. Per Oregon Unlicensed Assistant Guidelines, permitted and prohibited activities.

“The principal broker must review each document of agreement generated in a real estate transaction within seven banking days after it has been accepted, rejected, or withdrawn.” Per Oregon Rule 863-015-0140 Principal Broker Supervision Responsibilities.

“No real estate licensee shall offer, promise, allow, give, pay or rebate, directly or indirectly, any part or share of the licensee's commission or compensation arising or accruing from any real estate transaction or pay a finder's fee to any person who is not a real estate licensee.” Per ORS Violations 696.301.

Oregon real estate law states all compensation must come through the licensee’s broker. So in our case, Bruce must be paid directly by his broker Kira. Even if the check is written out to the broker, they cannot endorse the check. It needs to be deposited by the broker and then distributed accordingly.

Technically, the seller pays the listing broker (their sponsoring broker or broker-in-charge) who then pays the listing agent, provisional broker, or salesperson. “No real estate salesperson or associate real estate broker shall be engaged by, or accept compensation from, any person other than the real estate broker under whom the salesperson or associate broker is licensed at the time, and no real estate broker shall make payment to the salesperson or associate broker of another real estate broker except through the real estate broker with whom such real estate salesperson or associate broker is licensed.” Per ORS Violations 696.301.

A branch license is necessary for a separate business location where the principal broker's regular business is conducted. A branch license is also needed if a principal broker advertises the office location as a place where such business is handled.

Almost always it's classified as a misdemeanor. Per ORS 696.990 Penalties

Continuing education is required for Oregon licensees every 24 months or two years. Brokers and Principal Brokers in Oregon must obtain 30 hours of continuing education per cycle. 3-hour Law and Rule Course and a 27-hour Broker Advanced Practices​ for first-time renewers. 3-hour Law and Rule Course and 27 hours in miscellaneous qualifying required topics​ for second or any time after renewers. Per Oregon Real Estate Agency.

A person who negotiates the sale of an entire business, including inventory, equipment, and buildings, for a specified fee would require a real estate license. Specifically because it mentions selling buildings or real estate for a fee. A person does not need a real estate license to sell personal property or do any of the other situations.

Principal brokers and property managers must keep copies of all records of professional real estate activity conducted by licensees on behalf of the business for at least 6 years. “This includes ​agency agreements​, final agency acknowledgment, listing agreements, sales and purchase agreements, rental and lease agreements, receipts issued by a licensee for funds received, vouchers or bills paid by the licensee on behalf of a client or customer, and financial records for clients' trust accounts.” Per Oregon Real Estate Agency. Copies of ads are not required.

“Oregon’s laws protect people from being treated differently because of their: race, color, religion, sex, national origin, whether or not you have kids, disability (also: source of income, domestic violence survivors, marital status, sexual orientation, and gender identity).” Per Oregon Labor & Industries. The Federal Fair Housing Act only covers Color, Disability, Familial status, Gender, National Origin, Race, and Religion.