OREGON PROPERTY MANAGEMENT LICENSE
FINAL EXAM 2026-2027 QUESTIONS AND
ANSWERS GRADED A+
Oregon's statutes on property management with respect to licensure and property
management activity are extensive. These laws serve which of the following
purposes:
a. To specify requirements for the management of rental real estate
b. To protect owners and tenants of rental real estate
c. To encourage real estate property managers to comply with the applicable
statutes and rules through education
What is an identifying code?
a unique series of letters and/or numbers assigned by a property manager to a
property management agreement at the time the agreement
A property manager must not engage in the management of rental real estate
without a ___________________________________ between the owner and the
property manager.
written, unexpired property management agreement
Placement of trust funds received by a property manager must be placed in a
_________________________________ trust account.
federally insured interest-bearing
,Any amendment or addendum to the property management agreement must be in
writing and include:
a. identifying code
b. the date of the amendment
c. the signature of the property manager and the signatures of all owners who
signed the initial property management agreement.
A property manager must disburse earned management fees from the client's trust
account ______________________________ unless a different schedule of
disbursement is specified in the property management agreement, and may only
disburse such fees if sufficient funds are available.
at least once each month
Upon completion of a compliance review, if the Agency has reasonable grounds to
believe that the funds of an owner or tenant may be missing, funds may have been
misappropriated, or the property manager's records are in such a condition that the
property manager is placing owners' and/or tenants' money at risk the Agency may
immediately initiate an investigation without _______________________.
providing a property manager with an opportunity to cure noncompliance
A licensed property manager is only authorized to engage in the management of
rental real estate and is not authorized to engage in other professional real estate
activity such as ________________________________________.
a. the purchase of real estate
, b. the sale of real estate
c. exchanges of real estate
Can a nonlicensed individual who performs certain property management functions
be exempt from being licensed?
Yes, is they fall into the exempt category by Oregon statute
The following individuals may engage in the management of rental real estate,
unless they are exempt:
a. A licensed real estate broker, under the supervision of a licensed principal real
estate broker
b. A licensed principal real estate broker
c. A licensed property manager
The Agency will provide a property manager with written notice of a mail-in audit
at least
__________________________ before required information and documentation
must be provided to the Agency.
30 days
If a property management agreement is terminated, the property manager must
suspend management activity pursuant to the terms of the management agreement.
What is the longest period of time the property manager has to return all monies to
the parties?
FINAL EXAM 2026-2027 QUESTIONS AND
ANSWERS GRADED A+
Oregon's statutes on property management with respect to licensure and property
management activity are extensive. These laws serve which of the following
purposes:
a. To specify requirements for the management of rental real estate
b. To protect owners and tenants of rental real estate
c. To encourage real estate property managers to comply with the applicable
statutes and rules through education
What is an identifying code?
a unique series of letters and/or numbers assigned by a property manager to a
property management agreement at the time the agreement
A property manager must not engage in the management of rental real estate
without a ___________________________________ between the owner and the
property manager.
written, unexpired property management agreement
Placement of trust funds received by a property manager must be placed in a
_________________________________ trust account.
federally insured interest-bearing
,Any amendment or addendum to the property management agreement must be in
writing and include:
a. identifying code
b. the date of the amendment
c. the signature of the property manager and the signatures of all owners who
signed the initial property management agreement.
A property manager must disburse earned management fees from the client's trust
account ______________________________ unless a different schedule of
disbursement is specified in the property management agreement, and may only
disburse such fees if sufficient funds are available.
at least once each month
Upon completion of a compliance review, if the Agency has reasonable grounds to
believe that the funds of an owner or tenant may be missing, funds may have been
misappropriated, or the property manager's records are in such a condition that the
property manager is placing owners' and/or tenants' money at risk the Agency may
immediately initiate an investigation without _______________________.
providing a property manager with an opportunity to cure noncompliance
A licensed property manager is only authorized to engage in the management of
rental real estate and is not authorized to engage in other professional real estate
activity such as ________________________________________.
a. the purchase of real estate
, b. the sale of real estate
c. exchanges of real estate
Can a nonlicensed individual who performs certain property management functions
be exempt from being licensed?
Yes, is they fall into the exempt category by Oregon statute
The following individuals may engage in the management of rental real estate,
unless they are exempt:
a. A licensed real estate broker, under the supervision of a licensed principal real
estate broker
b. A licensed principal real estate broker
c. A licensed property manager
The Agency will provide a property manager with written notice of a mail-in audit
at least
__________________________ before required information and documentation
must be provided to the Agency.
30 days
If a property management agreement is terminated, the property manager must
suspend management activity pursuant to the terms of the management agreement.
What is the longest period of time the property manager has to return all monies to
the parties?
