Free Oregon Real Estate Practice Exam Questions 2024

Oregon is a terrific city to live in. You can enjoy the artsy culture of Portland, the scenic Oregon coastal area, the outdoor activities abundant in Mt. Hood and Columbia, the wineries of Willamette Valley, and so much more. It offers a mix of nature views, small towns, and big-city vibes.

The state is enjoying a healthy real estate market. Home values and home demand have increased over the past few months. Migration trends show more people are moving to the area. 

Oregon practice exam

You can take advantage of Oregon’s vibrant market and diverse properties by starting a career as a real estate agent. Anyone who can pass the real estate exam can become an agent. But the real estate exam is not an easy test. 

You can increase your chances of passing the exam by becoming familiar with its topics and content. This article will give you an idea of what to expect. 

Oregon real estate laws and regulations

The state of Oregon enforces several real estate laws and regulations that are upheld by the Oregon Real Estate Agency. They are covered on the test. They will also guide you in your real estate career. 

There are several laws and regulations to adhere to. Here are some that often arise in the buying, selling, and home ownership process. 

  • Oregon Leases and Rental Agreement Laws: This topic covers many aspects of the tenant-landlord relationship. It pertains to security deposits, rent amounts, discrimination, evictions, maintenance, and lease terms. It ensures that both parties are treated fairly. 
  • Adverse Possession Laws: Adverse possession laws allow a person who has been living in and caring for a property for a certain amount of years to take possession of the property. The statute of limitations to sue someone for recovery of real property in Oregon is 10 years. Once View,Of,Portland,,Oregon,Overlooking,The,Willamette,River,On,Athose 10 years have passed, you can no longer sue the resident, and the property is turned over to them. 
  • Homestead Acts: Homestead Acts allow a person to declare their land as a homestead. Doing so protects the land from foreclosure and other types of debt. Oregon limits property values to be claimed at 160 acres with a maximum value of $40,000 to $50,000. Unfortunately, it’s rare to find a property of this size worth so little in a rural area. 
  • Statute of Limitations: The statute of limitations limits the amount of time you have to take civil action for a legal claim. In Oregon, the statute of limitations for property-related crimes is typically six years. It pertains to crimes like fraud, trespassing, and injury to property. 
  • Property Line and Fence Laws: Property line and fence laws help settle disputes among neighbors. They determine which neighbor is responsible for the maintenance of a fence located between the two properties and where the property line is set. It also lets neighbors know how far their tree branches can extend into their neighbor’s property. 
  • Disclosure Obligations: Disclosure obligations mandate that the seller disclose all information on the home’s condition to the buyer. The seller is prohibited from hiding information about damage that may occur in the home’s structure or appliances, as well as title issues. If the seller fails to disclose this information they could get sued. The buyer may also walk away from the deal. 

What’s on the Oregon real estate exam?

Applicants must become familiar with the topics on the real estate exam. The Oregon real estate exam consists of two sections, the national portion, and the state-specific portion. The national portion pertains to general real estate topics, while the state-specific portion pertains to Oregon law only.

Here’s what the test entails. 

National

  • Property Ownership: Property ownership refers to the rights of the owner as outlined in the property deed. It grants the owner full rights to the property including the land and related privileges like water rights and the right to extract gas, minerals, oil, and other substances. 
  • Land Use Controls and Regulations: Land use controls and regulations include zoning ordinances, zoning restrictions, building codes, environmental regulations, development permits, and other laws that control how land can be used. 
  • Valuation and Market Analysis: Agents must understand how a home is valued and how the market affects its valuation. They must also know how to perform a market analysis. 
  • Financing: Most homes are financed. The owner will make a down payment and pay off the balance over the next few decades. Agents must understand the loan process and how financing works. 
  • General Principles of Agency: General principles of agency refer to the relationship between the agent, client, and third parties. It includes honesty, integrity, accounting for money, and disclosure. 
  • Property Condition and Disclosures: Property disclosures require the seller and seller’s agent to disclose information on the condition of the property to the seller. 
  • Contracts: There are several contracts involved in the real estate process including purchase agreements, lease agreements, deed contracts, loan contracts, and more. Applicants must understand the purpose of these contracts and the information they should contain. 
  • Transfer of Title: The property title must be transferred from the buyer to the seller upon closing. If there are issues with the property, such as unpaid debts, they must be cleared before the sale closes. 
  • Practice of Real Estate: The practice of real estate refers to any activity a person with a real estate license can perform. They include sales, purchases, lease management, and more. 
  • Real Estate Calculations: Several calculations come up in a real estate transaction. They include capitalization rate, loan-to-value ratio, and net operating income. Applicants will typically be asked to perform these calculations on the exam. 
  • Specialty Areas: Real estate specialty areas include appraisals, property management, commercial sales, loans, and foreclosures. Applicants will be asked questions on these real estate topics. 

State-Specific

  • License Law and Disciplinary Measures: Applicants must be familiar with license law and the disciplinary measures that are taken if these laws are violated. 
  • Handling of Clients’ Funds:  Clients make earnest money deposits that are held in a trust. Agents must follow certain guidelines when handling this money. Failure to do so may cause them to lose their license. 
  • Agency Law and Rules: Agency law defines the legal relationship between an agent and a client. 
  • Regulation of Broker Activities: The regulation of broker activities regulates the exercise of control over real estate salespersons
  • Document Handling and Record keeping: Document handling and record keeping must be handled securely and professionally. 
  • Property Management: Property management refers to various aspects of the tenant-landlord relationship including lease, repairs, maintenance, discrimination, evictions, and more. 
  • Oregon Real Estate-Related Statutes: Real estate statutes refer to the amount of time a victim has to take legal action following a property-related crime. 

Oregon real estate exam FAQs?

So far, this article has addressed topics regarding what’s on the real estate test. But you may still have questions regarding how to take the test. This section will provide the answers you need. 

1. How long is the Oregon real estate exam? 

The Oregon real estate exam consists of 130 questions, 80 national questions, and 50 state questions. You have 120 minutes to complete the national portion and 75 minutes to complete the state portion for a total of 3 hours and 15 minutes. 

2. How much does it cost to take the real estate exam?

It costs $75 to take the real estate exam. 

3. What is the passing score?

The passing score is 75%. 

4. How do I schedule the real estate exam? 

You can schedule the Oregon real estate exam through the PSI Exam Website. You must create an account through the website. Then you can choose if you want to take the test at home or from a testing facility. If you choose to take the test at home, you must still choose a time. 

Pay the $75 exam fee and you will be officially booked for the exam. 

5. When should I show up for the exam?

You must show up for the exam at least 15 minutes before your start time to ensure you have enough time to check-in. The 15-minute window is required even if you take the exam online. If you don’t show up early enough, you may forfeit your exam fee. 

6. Where can I take the exam?

People who choose to take the exam in person may do so at testing facilities throughout Oregon. You can find locations in the following cities: 

  • Bend
  • Eugene
  • Independence
  • Medford
  • Portland
  • Wilsonville

7. What should I take to the exam? 

Applicants must bring a government-issued ID to the exam. You can also bring a calculator that is non-programmable, silent, and battery-operated. It cannot have an alphabet keyboard and it must be separate from your phone. 

Most other personal belongings are not allowed, so bring as few as possible. You may be asked to leave them in your car or a locker on the test site. 

8. How many people pass the Oregon real estate exam?

Only about 64% of people pass the Oregon real estate exam on their first try.

9. How soon will I know if I passed the exam?

Exam results are provided immediately after you take the exam. If you pass, the system will give you a ‘pass’ result. You will not know your passing score. 

If you fail, you will get a review of the sections you did poorly on so you can improve for next time. 

10. What if I fail the exam?

If you fail the exam, you can retake it as often as you’d like but you will have to pay the testing fee for each attempt. If you passed one section, you can retake only the section you failed, but you must still pay the full exam fee.

 Also, your passing grade score will only be good for one year. So if you don’t pass the other section within a year, you must take the entire test again. 

11. What are the requirements for taking the exam? 

You must be 18 years old and have a high school diploma. You must also register for an account in eLicense, the Oregon Real Estate Agency’s online system. You must pay the $300 application fee online. When the application is processed, you will receive an Application ID online. 

12. I passed the exam. Now what?

After passing, you must submit your fingerprints and pay a fee for a background check. It will take 3-4 weeks for the state to process your fingerprints. 

Then find a sponsoring broker. The broker will add your pending license to the system. Once it is successfully added, the Oregon Real Estate Agency will complete a final review of your application. 

If everything goes as planned, your license will be active and you can begin practicing real estate. 

13. How do I increase my chances of passing the real estate exam?

  • Find a reputable school: The real estate school you choose will make a big difference in whether you pass or fail the exam. Choose a school that has positive online reviews. The school should be accredited and should hire licensed brokers to teach the courses. 
  • Create a Study Group: A study group will hold you accountable to ensure you study. Members of the group can play on each other’s strengths and weaknesses to build their skills. They will make studying more fun. 
  • Use Flashcards: Flashcards are a tried and true study method. They will help you challenge yourself. You can use them alone or with friends. 
  • Create a Study Plan: A study plan will keep you on track. It will ensure you don’t overstudy or understudy. It will get you ready for your big day. 
  • Use Mnemonic Devices: Mnemonic devices include rhyming words, abbreviations, and acronyms that help you remember information. 
  • Write Things Down: Writing or typing information helps embed it in your brain. Taking notes also allows you to focus on the materials you need to study. 

Oregon is a great state to launch a real estate career. This article gets you prepared for future endeavors by providing general information on the real estate exam. Follow a dedicated study schedule and the right processes to successfully gain your license. 

We wish you the best of luck in your endeavors.

Chris Heller Headshot

About the Author

Chris Heller brings 27 years of experience in real estate. Chris serves on the AgentAdvice Editorial Board and is the Chief Real Estate Officer at OJO Labs. Chris brings deep expertise having held influential industry positions including CEO of mellohome and former CEO of Keller Williams Realty International.

Last Updated: 6/11/2024