Oregon Real Estate Law Exam Practice
Questions And Correct Answers (Verified
Answers) Plus Rationales 2026 Q&A
Instant Download Pdf
1. What is required for a valid real estate contract in Oregon?
A. Oral agreement only
B. Written agreement signed by both parties
C. Verbal agreement witnessed by two people
D. Notarization only
Rationale: In Oregon, the Statute of Frauds requires real estate contracts
to be in writing and signed by the parties involved.
2. Which type of ownership allows two or more people to hold equal shares
with the right of survivorship?
A. Tenancy in common
B. Joint tenancy
C. Community property
D. Fee simple absolute
Rationale: Joint tenancy includes the right of survivorship, meaning if one
owner dies, their share passes automatically to the other owners.
3. Who is responsible for managing a property under a property management
agreement?
A. Tenant
, B. Property manager
C. Seller
D. Escrow agent
Rationale: The property manager oversees operations, leasing, and
maintenance under a management agreement.
4. What is the primary purpose of the Real Estate Agency Law in Oregon?
A. To regulate zoning
B. To establish tax rules
C. To define duties and responsibilities of real estate licensees
D. To set mortgage interest rates
Rationale: Oregon Real Estate Agency Law governs licensee duties,
including disclosure, fiduciary responsibilities, and agency relationships.
5. Which document conveys ownership from seller to buyer?
A. Mortgage
B. Lease
C. Deed
D. Promissory note
Rationale: A deed is the legal document transferring ownership rights in
real property.
6. In Oregon, what is a common method for disclosing known property defects
to buyers?
A. Verbal disclosure only
B. Residential Property Disclosure Statement
C. Escrow agreement
D. No disclosure required
Rationale: Oregon law requires sellers to provide a written disclosure
statement detailing known material defects.
7. What type of lien is automatically placed on property for unpaid property
taxes?
A. Mortgage lien
B. Mechanic's lien
, C. Judgment lien
D. Tax lien
Rationale: Tax liens arise automatically when property taxes are not paid
and take priority over most other liens.
8. Which of the following describes a “mechanic’s lien”?
A. Lien for unpaid property taxes
B. Lien for unpaid labor or materials on property improvement
C. Lien for defaulted mortgage
D. Lien for unpaid HOA dues
Rationale: A mechanic’s lien protects contractors or suppliers who
improve a property but haven’t been paid.
9. Which type of agency relationship exists when a licensee represents both
buyer and seller?
A. Single agency
B. Dual agency
C. Designated agency
D. Transaction brokerage
Rationale: Dual agency occurs when the same broker represents both
parties, requiring disclosure and consent.
10.In Oregon, when must a real estate licensee provide a brokerage disclosure
form to a potential client?
A. After closing
B. At first substantive contact
C. Only when listing property
D. After contract acceptance
Rationale: Oregon law requires disclosure at the first substantive
discussion about real estate services.
11.What is the maximum term for a property management agreement under
Oregon law without automatic renewal?
A. 3 months
B. 6 months
Questions And Correct Answers (Verified
Answers) Plus Rationales 2026 Q&A
Instant Download Pdf
1. What is required for a valid real estate contract in Oregon?
A. Oral agreement only
B. Written agreement signed by both parties
C. Verbal agreement witnessed by two people
D. Notarization only
Rationale: In Oregon, the Statute of Frauds requires real estate contracts
to be in writing and signed by the parties involved.
2. Which type of ownership allows two or more people to hold equal shares
with the right of survivorship?
A. Tenancy in common
B. Joint tenancy
C. Community property
D. Fee simple absolute
Rationale: Joint tenancy includes the right of survivorship, meaning if one
owner dies, their share passes automatically to the other owners.
3. Who is responsible for managing a property under a property management
agreement?
A. Tenant
, B. Property manager
C. Seller
D. Escrow agent
Rationale: The property manager oversees operations, leasing, and
maintenance under a management agreement.
4. What is the primary purpose of the Real Estate Agency Law in Oregon?
A. To regulate zoning
B. To establish tax rules
C. To define duties and responsibilities of real estate licensees
D. To set mortgage interest rates
Rationale: Oregon Real Estate Agency Law governs licensee duties,
including disclosure, fiduciary responsibilities, and agency relationships.
5. Which document conveys ownership from seller to buyer?
A. Mortgage
B. Lease
C. Deed
D. Promissory note
Rationale: A deed is the legal document transferring ownership rights in
real property.
6. In Oregon, what is a common method for disclosing known property defects
to buyers?
A. Verbal disclosure only
B. Residential Property Disclosure Statement
C. Escrow agreement
D. No disclosure required
Rationale: Oregon law requires sellers to provide a written disclosure
statement detailing known material defects.
7. What type of lien is automatically placed on property for unpaid property
taxes?
A. Mortgage lien
B. Mechanic's lien
, C. Judgment lien
D. Tax lien
Rationale: Tax liens arise automatically when property taxes are not paid
and take priority over most other liens.
8. Which of the following describes a “mechanic’s lien”?
A. Lien for unpaid property taxes
B. Lien for unpaid labor or materials on property improvement
C. Lien for defaulted mortgage
D. Lien for unpaid HOA dues
Rationale: A mechanic’s lien protects contractors or suppliers who
improve a property but haven’t been paid.
9. Which type of agency relationship exists when a licensee represents both
buyer and seller?
A. Single agency
B. Dual agency
C. Designated agency
D. Transaction brokerage
Rationale: Dual agency occurs when the same broker represents both
parties, requiring disclosure and consent.
10.In Oregon, when must a real estate licensee provide a brokerage disclosure
form to a potential client?
A. After closing
B. At first substantive contact
C. Only when listing property
D. After contract acceptance
Rationale: Oregon law requires disclosure at the first substantive
discussion about real estate services.
11.What is the maximum term for a property management agreement under
Oregon law without automatic renewal?
A. 3 months
B. 6 months
