Oregon Real Estate Broker Exam — All Questions
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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.