Oregon Real Estate Broker Exam — All Questions

The principle of contribution states that the value of a component or improvement is measured by:

• a.The raw number of square feet of floor area or land area that the improvement happens to occupy
• b.The owner's personal emotional attachment to and sentimental feelings about that improvement
• c.Its original construction or installation cost in every case, dollar for dollar, with no exception
• d.How much it adds to the overall value of the property, not its cost✓

Under contribution, an improvement is worth the amount it adds to the whole property's market value, which may be more or less than its cost. This principle explains why some renovations do not fully return their expense, a key point in over-improvement analysis.

Under Internal Revenue Code Section 121, a qualifying homeowner may generally EXCLUDE from taxable capital gain:

• a.Up to $250,000 of gain if single, or $500,000 if married filing jointly✓
• b.Up to a full one million dollars of gain on any property at all, at any time and any frequency
• c.All gain on any and every investment or rental property the taxpayer happens to own and sell
• d.Absolutely nothing, because gain on the sale of a home is always fully and entirely taxable

Section 121 lets homeowners who owned and used the home as their principal residence for at least two of the prior five years exclude up to $250,000 of gain (single) or $500,000 (married filing jointly). It applies to a primary residence, not to investment property.

Depreciation recapture on the sale of investment real estate means that:

• a.All of the depreciation deductions previously claimed are simply refunded to the investor in cash
• b.The investor is legally required to physically restore and rebuild the depreciated building itself
• c.Gain from prior depreciation may be taxed, often at a special rate✓
• d.No income tax is ever owed at all on the sale of a property that has previously been depreciated

When depreciated property is sold at a gain, the portion of gain due to depreciation deductions is 'recaptured' and taxed under special rules, reflecting the earlier tax benefit. It is a tax concept, not a requirement to rebuild, and it increases, not eliminates, tax on sale.

Which appraisal approach is generally MOST reliable for a special-purpose property, such as a church or public school, that rarely sells and earns no market income?

• a.The sales comparison approach, which depends on recent sales of similar comparable properties
• b.The income approach, which converts a property's market rental income into an indicated value
• c.The gross rent multiplier method, which relies on typical market rents that these lack entirely
• d.The cost approach✓

Special-purpose properties have few or no comparable sales and generate no market rent, so the cost approach (replacement cost new, less depreciation, plus land) is typically most reliable. Sales comparison lacks comparables and the income/GRM methods need market income these properties do not produce.

The four characteristics an item must have to possess value in the market, often remembered as DUST, are:

• a.Debt, Utility, Supply, and Taxes, a mix of unrelated financing and cost terms rather than value
• b.Demand, Utility, Scarcity, and Transferability✓
• c.Depreciation, Use, Sale, and Title, which describe stages of ownership rather than value itself
• d.Demand, Ownership, Scarcity, and Time, which swaps in two terms that are not part of the concept

For something to have market value it must have Demand (buyers who want it), Utility (usefulness), Scarcity (limited supply), and Transferability (the ability to convey it). The DUST acronym captures these four essentials of value.

Under Oregon law (ORS Chapter 696), what is the entry-level real estate license that a newly licensed practitioner receives?

• a.Salesperson
• b.Broker✓
• c.Principal broker
• d.Realtor

Oregon is unusual in that its entry-level license is the 'broker' license, not 'salesperson.' A newly licensed Oregon broker must be supervised by and associated with a principal broker. 'Principal broker' is the higher-level license authorized to supervise others and operate a brokerage.

Which state body issues and regulates real estate licenses in Oregon?

• a.The Oregon Department of Consumer and Business Services
• b.The Oregon Association of Realtors
• c.The Oregon Real Estate Agency✓
• d.The Oregon Secretary of State

The Oregon Real Estate Agency (OREA), led by the Real Estate Commissioner, licenses and regulates brokers, principal brokers, and property managers under ORS Chapter 696. The Oregon Real Estate Board advises the Agency but does not itself issue licenses.

In Oregon, an active real estate broker who wishes to engage in professional real estate activity must:

• a.Be associated with and supervised by a licensed principal broker✓
• b.Operate entirely independently once licensed
• c.Hold a separate escrow agent license
• d.Be a member of a Realtor association

An Oregon broker cannot practice independently. The broker's license must be associated with a principal broker (or the broker must upgrade to principal broker), who is responsible for supervising the broker's real estate activity and client trust accounts.

When must an Oregon licensee provide the Initial Agency Disclosure Pamphlet to a consumer?

• a.Only at closing
• b.At first contact with a party who has not signed a service agreement, before entering into any representation discussion✓
• c.Only if the consumer requests it in writing
• d.Never, because Oregon does not require agency disclosure

Oregon requires licensees to provide the Initial Agency Disclosure Pamphlet, which explains representation options, at the beginning of the relationship, before the consumer discloses confidential information or enters into a representation agreement.

Under Oregon agency law, what term describes the situation where one licensee or firm represents both the buyer and the seller in the same transaction with informed consent?

• a.Subagency
• b.Single agency
• c.Designated exclusive agency
• d.Disclosed limited agency✓

Oregon law uses the term 'disclosed limited agency' for representing both parties (or both a buyer and seller who are each clients of the same principal broker) in one transaction. It is permitted only with the informed written consent of all clients, and the licensee's duties are limited accordingly.

In Oregon, who is primarily responsible for maintaining and reconciling a brokerage's clients' trust account for earnest money and other client funds?

• a.Each individual broker
• b.The Oregon Real Estate Board
• c.The principal broker✓
• d.The title company

The principal broker is responsible for the brokerage's clients' trust accounts, including proper deposit, record-keeping, and monthly reconciliation of earnest money and other client funds held in trust under ORS Chapter 696 and Oregon Administrative Rules.

In Oregon, engaging in professional real estate property management activity for another for compensation generally requires:

• a.No license of any kind
• b.A broker, principal broker, or a separate property manager license issued by the Oregon Real Estate Agency✓
• c.Only a business registration with the county
• d.A general contractor license

Oregon regulates property management as a distinct licensed activity. A person managing rental real estate for others for compensation must hold an active broker or principal broker license, or a specific Oregon property manager license, all issued by the Oregon Real Estate Agency.

How many hours of approved pre-license education must an applicant complete to qualify for an Oregon real estate broker license?

• a.40 hours
• b.90 hours
• c.150 hours✓
• d.300 hours

Oregon requires 150 clock hours of Agency-approved real estate pre-license education before a broker applicant may sit for the licensing examination. Applicants must also pass the exam and clear a background check.

Chapter 389, Oregon Laws 2025 made "managing principal broker" a defined Oregon license term. Which individual fits that definition?

• a.Any principal real estate broker who supervises the professional real estate activity of an associated broker
• b.A principal real estate broker who has registered or assumed responsibility for a business name✓
• c.A real estate broker who has completed three years of active licensed experience
• d.A principal broker appointed by the Real Estate Commissioner to audit a brokerage

A managing principal broker is a principal real estate broker who has registered or assumed responsibility for a business name. Supervising associated licensees is not enough by itself: a principal broker who supervises under a written supervisory agreement is an "authorized principal broker." The term took effect January 1, 2026. Cite: ORS 696.010(15); OAR 863-014-0003(11) (REA 4-2025, filed 10/09/2025, effective 01/01/2026).

Under OAR chapter 863, who is an "authorized principal broker"?

• a.The managing principal broker, or a principal broker given written supervisory control✓
• b.Any Oregon principal broker who holds an active license
• c.A broker the Agency has separately authorized to open a clients' trust account
• d.The principal broker who owns the largest share of the registered business

The managing principal broker may allocate some or all supervisory control and responsibility to an associated principal broker through a written supervisory agreement; that broker is then an authorized principal broker. The supervisory agreement cannot limit the managing principal broker's own responsibility. Cite: OAR 863-014-0003(3) (REA 4-2025, effective 01/01/2026); ORS 696.310(1)(a)(F); ORS 696.237(4).

A brokerage's sole managing principal broker is unexpectedly hospitalized. Under ORS 696.022, who may supervise the associated licensees?

• a.No one; the associated licenses go inactive at once
• b.Any associated broker, for as long as the managing principal broker is absent
• c.The Real Estate Commissioner, who appoints a receiver for the registered business
• d.A broker with three years of active experience, for up to 90 days✓

A real estate broker who has acquired three years of active experience as a real estate broker may supervise another licensee's professional real estate activity for up to 90 days because of unforeseen circumstances or the temporary absence of a sole managing principal broker. Cite: ORS 696.022(2)(c).

An Oregon broker closes a cooperative sale. From whom may that broker accept the commission?

• a.From the buyer directly
• b.Only from the broker's own managing principal broker✓
• c.From the escrow agent
• d.From either managing principal broker

A licensee associated with a managing principal broker may not accept compensation from any person other than that managing principal broker, and a managing principal broker may not pay another firm's broker except through that broker's own managing principal broker. Cite: ORS 696.290(2), (3).

ORS 696.290 bars an Oregon licensee from sharing compensation with an unlicensed person. Which payment is expressly permitted?

• a.A finder's fee to the unlicensed neighbor who introduced the buyer
• b.A referral bonus to the seller's unlicensed adult child
• c.A share of the commission donated to a 501(c)(3) charitable organization✓
• d.A thank-you payment to the unlicensed assistant who drafted the listing

The statute prohibits paying any part of a licensee's compensation, or a finder's fee, to a person who is not a real estate licensee, but expressly allows a licensee to give parts or shares of that compensation to an organization that is tax exempt under section 501(c)(3) of the Internal Revenue Code. Cite: ORS 696.290(1)(a), (1)(c).

How long must an Oregon managing principal broker keep the records of a real estate transaction that has closed?

• a.Six years after closing or failure✓
• b.Three years after the transaction closed or failed
• c.Two years from the date the license was last renewed
• d.Permanently, unless the Agency authorizes destruction

Records of professional real estate activity must be kept at least six years after the transaction closed or failed, whichever is later. The three-year figure belongs to a different record: a licensee's own continuing education attendance records. Cite: ORS 696.280(4)(b); ORS 696.280(2); OAR 863-015-0260.

What must appear in an Oregon licensee's advertising under OAR 863-015-0125?

• a.The managing principal broker's license number
• b.The Oregon Real Estate Agency's consumer complaint line
• c.The registered business name, immediately noticeable✓
• d.A statement that the licensee is an equal housing opportunity provider

Advertising must use the licensee's licensed name, a common derivative of it, or a registered alternative name with the license number, and the registered business name as registered with the Agency must be immediately noticeable in all advertising. Cite: OAR 863-015-0125(3), (4) (REA 4-2025, effective 01/01/2026).

A member of an Oregon real estate team meets a prospective seller for the first time. When is the real estate team disclosure due?

• a.When the listing agreement is signed
• b.Within three banking days of the first showing
• c.At closing, as part of the final agency acknowledgement
• d.At first contact with the person, in writing✓

A team member must give the real estate team disclosure at first contact with a prospective party or an unrepresented party seeking representation, delivered in a written format. It need not be repeated to someone who already received it from another member of the same team. Cite: OAR 863-015-0143(1)-(4) (adopted REA 4-2025, effective 01/01/2026); ORS 696.370(3).

Under ORS 696.370, which real estate team member may supervise or control other members of the team?

• a.Any member the managing principal broker designates
• b.Only a principal real estate broker✓
• c.Any broker with two years of active experience
• d.The team's unlicensed transaction coordinator

A team member must be a principal real estate broker before supervising or controlling other team members, and unless that person is the managing principal broker, the supervision must rest on a written supervisory agreement with the managing principal broker. Cite: ORS 696.370(4); ORS 696.310.

Who may register a business name with the Oregon Real Estate Agency?

• a.A managing principal broker or a licensed property manager✓
• b.Any principal broker
• c.Any Oregon real estate broker
• d.The corporation that owns the brokerage

Only a managing principal broker or a licensed real estate property manager may register a business name or a branch office under it. A nonlicensed person may hold an ownership interest in the business but may not control or supervise any licensee's professional real estate activity. Cite: ORS 696.026(6), (13).

Oregon's timeshare sales agent license authorizes the holder to do what?

• a.Sell any residential property
• b.Manage rental real estate
• c.Sell or offer to sell timeshares only✓
• d.Supervise other timeshare agents

The only professional real estate activity a timeshare sales agent may conduct is selling or offering to sell timeshares. The agent must be associated with and supervised by a managing principal broker and may not supervise any other licensee. Cite: ORS 696.022(5)(a); OAR 863-014-0030(3)(d) (REA 4-2025, effective 01/01/2026).

When must an Oregon agent deliver the Initial Agency Disclosure Pamphlet?

• a.Before any offer is written
• b.At the first showing of a property
• c.Before the listing or representation agreement is signed
• d.At first contact with each party to the transaction✓

The agent must provide a copy of the initial agency disclosure pamphlet at the first contact with each party to a real property transaction, including contact in person, by telephone, over the Internet or by electronic mail. Cite: ORS 696.820(2); OAR 863-015-0215 (REA 1-2017, effective 01/01/2018).

Which party need not be given the Initial Agency Disclosure Pamphlet?

• a.A party represented by a lawyer
• b.A party who may reasonably be assumed to have received it from another agent✓
• c.A party buying commercial property
• d.A party who has already signed a disclosed limited agency agreement in the deal

The rule excuses delivery only to a party who has, or may reasonably be assumed to have, received a copy of the pamphlet from another agent. Being represented by counsel, buying commercial property, or having signed a disclosed limited agency agreement does not excuse delivery. Cite: OAR 863-015-0215 (REA 1-2017, effective 01/01/2018).

What is the legal effect of delivering the Initial Agency Disclosure Pamphlet?

• a.None; it is informational and is not evidence of intent to create agency✓
• b.It creates a seller agency relationship as soon as the seller keeps a copy
• c.It binds the recipient to the disclosed limited agency rules
• d.It starts a five-business-day period in which the recipient may cancel

The Commissioner's rules must provide that the pamphlet is informational only and may not be construed to be evidence of intent to create an agency relationship. An Oregon agency relationship is created by written agreement or course of conduct, not by the pamphlet. Cite: ORS 696.820(1); OAR 863-015-0200(2).

What is the longest term an Oregon listing agreement may run, counting any automatic renewals?

• a.12 months
• b.18 months
• c.24 months✓
• d.No statutory limit, if the seller initials the term

A real estate licensee may not enter into a listing agreement whose duration, including any automatic renewals, exceeds 24 months. The same 24-month ceiling applies to a written buyer representation agreement. Cite: ORS 696.805(2) (as amended by 2024 c.3 s.16); ORS 696.810(2).

The written listing and buyer representation requirements of ORS 696.805 and 696.810 do not apply to which property?

• a.Bare land inside an urban growth boundary
• b.Commercial structures, or five or more dwelling units✓
• c.A condominium held as an investment
• d.A manufactured dwelling on rented space

Both sections exempt licensees engaged in a transaction for property that is improved or available for improvement by commercial structures or by five or more residential dwelling units. Residential property of one to four units gets the written-agreement protection. Cite: ORS 696.805(3); ORS 696.810(3).

ORS 696.800 defines "disclosed limited agency" as a real property transaction in which:

• a.a broker represents a client while also holding an ownership interest in the property
• b.a broker represents a client without any written agreement
• c.two brokerages agree to share a commission on the same sale
• d.buyer and seller, or two or more buyers, are represented in one real estate business✓

Disclosed limited agency means the representation of a buyer and seller, or the representation of two or more buyers, occurring within the same real estate business. Two buyers are in the same transaction when both have submitted offers on the same property. Cite: ORS 696.800(4); OAR 863-015-0205(2), (3).

Acting as a disclosed limited agent, what may an Oregon licensee NOT tell the buyer without the seller's express written permission?

• a.That the seller will accept a price lower than the listing price✓
• b.That the property's septic system failed its most recent inspection
• c.That another offer has been submitted
• d.That the seller has listed the property before

A disclosed limited agent may not reveal that the seller will accept a price lower or terms less favorable than the listing price or terms, that the buyer will pay more, or specific confidential information. A known material defect is the opposite: disclosing it is an affirmative duty. Cite: ORS 696.815(2)(c)(A); ORS 696.805(5)(c).

"Confidential information" under ORS 696.800 covers information communicated to the agent by a buyer or seller of:

• a.any Oregon real property
• b.commercial property
• c.one to four residential units✓
• d.five or more dwelling units

The definition is limited to the buyer or seller of one to four residential units, and covers price, terms, financial qualifications and motivation to buy or sell. It excludes information the client tells the agent to disclose, and anything whose concealment would be fraudulent. Cite: ORS 696.800(3).

Two brokers associated with the same managing principal broker represent the buyer and the seller in one sale. Who acts as the disclosed limited agent of both parties?

• a.Both brokers, jointly
• b.The managing principal broker✓
• c.The Oregon Real Estate Agency's designated reviewer
• d.Neither; designated agency ends the dual relationship

When different licensees associated with the same managing principal broker establish agency relationships with different parties, the managing principal broker is the only broker acting as a disclosed limited agent of both; each broker continues to represent only that broker's own client unless all parties agree otherwise in writing. Cite: ORS 696.815(4); OAR 863-015-0200(3)(a).

When must an Oregon seller sign the Final Agency Acknowledgement?

• a.When the offer is first submitted, even if it will be rejected✓
• b.Only when the seller accepts the offer in writing
• c.At closing, together with the signed buyer and seller settlement statement
• d.Within three banking days after the seller accepts the offer

The Agency's prescribed form directs that the seller sign the acknowledgement when the agreement is first submitted, even if it will be rejected or countered, and states that signing it is not acceptance of the offer. Cite: ORS 696.845; OAR 863-015-0200(12)(a).

In Oregon, what does the payment of a real estate commission establish about agency?

• a.It makes the payer the client of the broker who is paid
• b.It creates a subagency between the two brokerages
• c.It makes the listing broker the agent of the buyer
• d.Nothing on its own✓

Payment, or the promise of payment, of a commission or other fee does not by itself create an agency relationship. A buyer's agent remains only the buyer's agent even when paid in whole or in part by the seller or through the listing agent. Cite: ORS 696.840; OAR 863-015-0200(5); ORS 696.810(4).

An Oregon broker receives an earnest money check. Absent the buyer's written instructions to the contrary, how soon must it reach the authorized principal broker?

• a.The same business day
• b.Within two banking days
• c.Within three banking days✓
• d.Within five banking days

A broker must deliver money, checks and other consideration received while conducting professional real estate activity to the authorized principal broker within three banking days, and must transmit all earnest monies within three banking days of receipt. Cite: OAR 863-015-0257(1) (REA 4-2025, effective 01/01/2026).

A broker receives funds that are not earnest money while conducting professional real estate activity. Within what time must those funds be deposited?

• a.Five banking days✓
• b.Three banking days after receipt
• c.Ten business days after receipt
• d.Two banking days after receipt

For funds other than earnest money, the broker has five banking days following receipt to deposit them into a clients' trust account or a licensed neutral escrow depository in this state, or to deliver a check made payable to the seller. Cite: OAR 863-015-0257(4) (REA 4-2025, effective 01/01/2026).

When may an Oregon broker hold an earnest money check un-deposited until the offer is accepted or rejected?

• a.Whenever the buyer asks orally
• b.When the written sale agreement discloses that the check is being held un-deposited✓
• c.Only if the check is for less than $1,000 and the seller agrees in writing
• d.Never; the check must be deposited into the clients' trust account on receipt

The check may be held un-deposited only if the written sale agreement says the broker is holding it and further states where and when it will be deposited on acceptance. Once the offer or a counter offer is accepted, the broker has three banking days to deposit it. Cite: OAR 863-015-0257(2)(a), (3).

Within what time must an Oregon authorized principal broker review each document of agreement after it has been accepted, rejected or withdrawn?

• a.Three banking days
• b.Five banking days
• c.Ten business days
• d.Seven banking days✓

The authorized principal broker must review each document of agreement generated in a transaction within seven banking days of acceptance, rejection or withdrawal, and must either initial and date a hard copy or make an electronic record naming the reviewer and the review date. Cite: OAR 863-015-0140(4) (REA 4-2025, effective 01/01/2026).

An Oregon authorized principal broker opens a clients' trust account. When must the Real Estate Agency be notified?

• a.Before the first deposit is accepted into it
• b.Within three banking days of the first deposit
• c.Within 10 business days✓
• d.At the licensee's next license renewal

Notice must reach the Agency through its online process within 10 business days of the date the account is opened, and the same 10-business-day deadline applies when the account is closed or transferred. Cite: OAR 863-015-0255(2), (3) (REA 4-2025, effective 01/01/2026); ORS 696.245.

Which of these is flatly prohibited on an Oregon clients' trust account?

• a.Electronic fund transfers
• b.Any form of debit card✓
• c.Checks from one pre-numbered sequence
• d.An interest-bearing balance

A managing principal broker may not use or allow the use of any form of debit card on a clients' trust account. Electronic fund transfers are allowed if the bank supplies an accurate paper record; checks must be pre-numbered; and an interest-bearing trust account is permitted with the required written approval. Cite: OAR 863-015-0255(5), (6); ORS 696.243(2); ORS 696.241(7).

A seller delivers an Oregon seller's property disclosure statement after receiving the buyer's written offer. How long does the buyer then have to revoke that offer?

• a.Five business days after delivery✓
• b.Three business days after the offer is accepted
• c.Ten calendar days after delivery of the statement
• d.Until closing of the transaction, in every case

Unless the buyer has already delivered a written waiver of the right to revoke, the buyer has five business days after delivery of the disclosure statement to revoke the offer by a separate signed written statement of revocation. Cite: ORS 105.475(1).

An Oregon seller refuses to provide the seller's property disclosure statement. What is the buyer's position?

• a.The buyer must close or forfeit the earnest money
• b.The buyer has five business days from the refusal to revoke
• c.The sale agreement is void from the outset
• d.The buyer may revoke the offer any time before closing✓

If the seller fails or refuses to provide the statement, the buyer's right of revocation runs until it is terminated by the buyer closing the transaction. On a valid revocation the buyer is entitled to immediate return of all deposits and the offer is void. Cite: ORS 105.475(3), (4), (5).

Which sale is excluded from Oregon's seller's property disclosure statement requirement?

• a.A sale of a 1920s bungalow by its long-time owner
• b.The first sale of a dwelling that has never been occupied✓
• c.A sale of a duplex the seller has rented out for years
• d.A sale by a seller who has owned the home less than a year

The statute excludes the first sale of a dwelling never occupied, provided the seller gives the buyer the prescribed statement naming the building or installation permit number and issuing authority. Other exclusions cover court-appointed fiduciaries, foreclosing financial institutions and government agencies. Cite: ORS 105.470(1), (2), (3), (4).

A rental advertisement in Oregon reads "no Section 8." Which protected class does that implicate?

• a.Familial status of the household
• b.The applicant's marital status
• c.Source of income✓
• d.The applicant's national origin

Oregon's fair housing statute protects source of income, which expressly includes federal rent subsidy payments under 42 U.S.C. 1437f and any other local, state or federal housing assistance. Publishing a notice indicating such a limitation is itself an unlawful practice. Cite: ORS 659A.421(1)(d)(A), (2)(e) (last amended 2021 c.367 s.40).

Which body has exclusive jurisdiction to review an Oregon city's land use decision?

• a.The Land Use Board of Appeals✓
• b.The circuit court of the county
• c.The Land Conservation and Development Commission
• d.The Oregon Court of Appeals, on initial review

The Land Use Board of Appeals has exclusive jurisdiction to review any land use decision or limited land use decision of a local government, special district or state agency, once the petitioner has exhausted local remedies. LUBA orders are then reviewed by the Court of Appeals. Cite: ORS 197.825(1), (2)(a), (2)(b).

Absent a lower county minimum acknowledged by LCDC, what is the statewide minimum parcel size for land zoned exclusive farm use and not designated rangeland?

• a.20 acres
• b.40 acres
• c.160 acres
• d.80 acres✓

The statute sets at least 80 acres for exclusive farm use land not designated rangeland, at least 160 acres for exclusive farm use rangeland, and at least 80 acres for designated forestland. Counties may go lower only in the circumstances the statute lists. Cite: ORS 215.780(1)(a), (1)(b), (2) (last amended 2019 c.440 s.8).

Oregon's statewide land use planning system requires every city and county to:

• a.submit every building permit application to the state for review
• b.adopt a comprehensive plan that complies with the state goals✓
• c.put every zone change to a vote of the electors
• d.obtain the Land Use Board of Appeals' approval of its zoning map

Each city and county must prepare, adopt and revise comprehensive plans in compliance with the goals and enact land use regulations to implement them. Once the plan and regulations are acknowledged, land use decisions are measured against the acknowledged plan. Cite: ORS 197.175(2)(a), (2)(b), (2)(d); ORS 197.225.

How much pre-license education must an Oregon real estate broker applicant complete?

• a.150 clock hours in seven courses✓
• b.90 clock hours in three required courses
• c.60 clock hours, the same as a property manager
• d.40 clock hours plus a supervised internship

The approved broker course of study totals 150 clock hours: Real Estate Law, Oregon Real Estate Practice and Real Estate Finance at 30 hours each, Real Estate Brokerage at 20, Contracts and Agency Law at 15 each, and Property Management at 10. Cite: OAR 863-022-0010; OAR 863-022-0030(2); OAR 863-014-0035(1)(b).

Beyond passing the principal broker examination, what must an Oregon principal broker applicant show?

• a.Five years of active licensed experience under a managing principal broker in this state
• b.A bachelor's degree in business or real estate from an accredited school
• c.Three years of active licensed experience and the 40-hour supervision course✓
• d.Two years of licensed experience and a 26-hour advanced practices course

The Commissioner must receive proof of three years of active licensed experience as a broker or salesperson in this state or another state, plus successful completion of the brokerage administration and sales supervision course, which the Agency sets at 40 clock hours. Cite: ORS 696.022(3)(c)(B); OAR 863-022-0025; OAR 863-014-0040(1).