Free Oregon Real Estate Practice Test (2026) — LicenseIQ

Question 1

Which lien is a specific lien rather than a general lien?

Accepted Answer

Specific liens attach to one property (mortgage, mechanic's, property tax). General liens attach to all of a debtor's property (judgments, IRS liens).

Question 2

A licensee's advertising must generally:

Accepted Answer

Ads must identify the licensed broker/brokerage; salespersons cannot advertise under only their own name.

Question 3

An easement that benefits an adjoining parcel of land is called:

Accepted Answer

An easement appurtenant runs with the land and benefits a dominant tenement (the adjoining parcel). An easement in gross benefits a person or company, not land.

Question 4

After a developer turns a condominium over to the owners, the community's rules are enforced and budgets set by the:

Accepted Answer

The HOA, run by an elected board, enforces the CC&Rs, sets budgets and reserves, and levies assessments.

Question 5

Annual taxes of $5,400 are paid in arrears at year-end. Closing is June 15, and the seller owns the day of closing. Using a 360-day year, what is the proration?

Accepted Answer

Daily = $5,400 / 360 = $15. Seller owned Jan 1-Jun 15 = 5 months + 15 days = 165 days. 165 x $15 = $2,475. Because the buyer will pay the whole bill later, the seller is debited and the buyer credited.

Question 6

Within how many business days must a principal broker notify the bank and the Agency after opening a clients' trust account?

Accepted Answer

ORS 696.245 sets 10 business days to notify the bank and the Agency of opening or closing a trust account.

Question 7

A landlord sells an apartment building with tenants under 12-month leases. The leases:

Accepted Answer

Leases run with the property; the buyer takes title subject to existing leases and inherits the landlord's obligations.

Question 8

Recording a deed in the county records primarily serves to:

Accepted Answer

Recording provides public (constructive) notice, protecting the owner's interest against later claims.

Question 9

A loan whose payments are not large enough to pay it off by the end of the term, leaving a large final payment, is a:

Accepted Answer

Partially amortized loans require a balloon payment at maturity. Negative amortization means the balance actually increases because payments don't cover interest.

Question 10

The 'bundle of rights' in real property includes all of the following EXCEPT:

Accepted Answer

The bundle includes possession, control, enjoyment, exclusion and disposition - never a guaranteed profit.

Question 11

A utility company's right to run power lines across many private lots is an easement:

Accepted Answer

An easement in gross benefits a person or entity and has no dominant estate; utility easements are the classic example.

Question 12

Which is required for a deed to be valid?

Accepted Answer

A valid deed needs a writing, competent grantor who signs, identifiable grantee, consideration, granting and habendum clauses, legal description, delivery and acceptance. The grantee does not sign; recording is not required for validity.

Question 13

A candidate passes the state portion but fails the national portion. What happens?

Accepted Answer

Per the PSI handbook, a passed portion is good for 12 months and only the failed portion is retaken. A new appointment cannot be made for the same day as an exam.

Question 14

Under OAR 863-015-0125, what must be immediately noticeable in all Oregon real estate advertising?

Accepted Answer

OAR 863-015-0125(4) requires the registered business name, as filed with the Agency, to be immediately noticeable.

Question 15

How is Oregon's maximum annual rent increase calculated under ORS 90.324?

Accepted Answer

ORS 90.324 sets the lesser of 10% or 7% plus the CPI-U West Region change, published by DAS by September 30.

Question 16

A deed conveys Oregon land to two siblings 'as joint tenants' with no other survivorship language. What estate do they take?

Accepted Answer

ORS 93.180 abolished joint tenancy in real property (except for trustees and personal representatives) and says 'joint tenants' alone creates a tenancy in common.

Question 17

In a lease, the tenant holds a ____ estate and the landlord holds a ____.

Accepted Answer

The lessee has a leasehold (non-freehold) estate; the lessor retains the leased fee interest plus the reversion.

Question 18

When must an Oregon agent give a prospective party the initial agency disclosure pamphlet?

Accepted Answer

ORS 696.820 and OAR 863-015-0215 require the pamphlet at first contact, which includes phone, email, and internet contact. Waiting until an offer is written is too late.

Question 19

A buyer agrees to give the seller a valuable painting in exchange for vacant land. Is there valid consideration?

Accepted Answer

Consideration is anything of value exchanged. A $0 purchase price would lack consideration, but goods or services can qualify.

Question 20

Within how many days must a construction lien claimant record a claim of lien?

Accepted Answer

ORS 87.035 sets 75 days after the earlier of the claimant's last work or completion. One hundred twenty days is the deadline to foreclose after filing.

Question 21

A contract clause stating that 'time is of the essence' means:

Accepted Answer

'Time is of the essence' makes performance by the stated dates essential; missing a deadline can be a breach.

Question 22

The tenant's right to possess and use the leased premises without interference by the landlord is the covenant of:

Accepted Answer

Quiet enjoyment protects the tenant's undisturbed possession during the lease term.

Question 23

A CMA or letter opinion prepared by an Oregon licensee who is not a licensed appraiser must include:

Accepted Answer

OAR 863-015-0190(3) requires both a USPAP non-compliance disclaimer and a 'not an appraisal' statement. A USPAP certification is exactly what a non-appraiser cannot give.

Question 24

In a disclosed limited agency, what may the licensee NOT disclose to the buyer without the seller's express written permission?

Accepted Answer

ORS 696.815(2) bars disclosing the seller's willingness to accept a lower price or less favorable terms without written permission. Known latent defects are material facts that must be disclosed.

Question 25

How long does a buyer purchasing a condominium unit from the developer have to cancel for any reason?

Accepted Answer

ORS 100.730 gives five business days, excluding Saturdays and holidays, from the latest of the listed signings. The right ends at closing.

Oregon real estate practice test

1. Which lien is a specific lien rather than a general lien?

2. A licensee's advertising must generally:

3. An easement that benefits an adjoining parcel of land is called:

4. After a developer turns a condominium over to the owners, the community's rules are enforced and budgets set by the:

5. Annual taxes of $5,400 are paid in arrears at year-end. Closing is June 15, and the seller owns the day of closing. Using a 360-day year, what is the proration?

6. Within how many business days must a principal broker notify the bank and the Agency after opening a clients' trust account?

7. A landlord sells an apartment building with tenants under 12-month leases. The leases:

8. Recording a deed in the county records primarily serves to:

9. A loan whose payments are not large enough to pay it off by the end of the term, leaving a large final payment, is a:

10. The 'bundle of rights' in real property includes all of the following EXCEPT:

11. A utility company's right to run power lines across many private lots is an easement:

12. Which is required for a deed to be valid?

13. A candidate passes the state portion but fails the national portion. What happens?

14. Under OAR 863-015-0125, what must be immediately noticeable in all Oregon real estate advertising?

15. How is Oregon's maximum annual rent increase calculated under ORS 90.324?

16. A deed conveys Oregon land to two siblings 'as joint tenants' with no other survivorship language. What estate do they take?

17. In a lease, the tenant holds a estate and the landlord holds a .

18. When must an Oregon agent give a prospective party the initial agency disclosure pamphlet?

19. A buyer agrees to give the seller a valuable painting in exchange for vacant land. Is there valid consideration?

20. Within how many days must a construction lien claimant record a claim of lien?

21. A contract clause stating that 'time is of the essence' means:

22. The tenant's right to possess and use the leased premises without interference by the landlord is the covenant of:

23. A CMA or letter opinion prepared by an Oregon licensee who is not a licensed appraiser must include:

24. In a disclosed limited agency, what may the licensee NOT disclose to the buyer without the seller's express written permission?

25. How long does a buyer purchasing a condominium unit from the developer have to cancel for any reason?

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