Oregon Real Estate Broker Exam –
Verified Practice Questions & Answers
with Detailed Rationales (2026 Edition)
1. Which of the following BEST describes an Oregon real
estate broker’s fiduciary duty regarding disclosure?
A. Disclose only material facts requested by the client
B. Disclose all known material facts regardless of agency
C. Disclose only adverse facts about the property
D. Disclose all known material facts that could affect a
reasonable party’s decision
Rationale: A broker must disclose all known material facts
that a reasonable person would consider important in a
transaction. This duty applies regardless of agency status and
includes both positive and negative facts affecting value or
desirability.
2. In Oregon, an earnest money deposit must generally be
deposited into a trust account within:
A. 24 hours of acceptance
B. 72 hours of receipt
C. 5 business days
D. 3 business days
,Rationale: Oregon administrative rules require earnest money
to be deposited promptly, typically within 3 business days of
receipt, ensuring proper safeguarding of client funds.
3. A broker acting as a disclosed limited agent primarily
owes which duty to a customer?
A. Loyalty
B. Obedience
C. Full fiduciary representation
D. Honest dealing and disclosure of material facts
Rationale: Limited agents owe fiduciary duties to their
principal, but to customers they owe honesty, good faith, and
disclosure of material facts—not full fiduciary duties.
4. Which document BEST defines the relationship between
principal and broker in Oregon?
A. Purchase agreement
B. Listing agreement
C. Earnest money agreement
D. Agency agreement
Rationale: The agency agreement establishes the legal
relationship and duties between the broker and principal,
including fiduciary obligations and scope of representation.
5. Under Oregon law, a broker may be disciplined for:
,A. Only intentional fraud
B. Only criminal acts
C. Only contract breaches
D. Violation of administrative rules even without intent
Rationale: Oregon Real Estate Agency may impose discipline
for negligence or rule violations regardless of intent, focusing
on consumer protection and professional standards.
6. A buyer makes an offer that is accepted without changes.
When is a contract formed?
A. When the seller signs the offer
B. When earnest money is deposited
C. When financing is approved
D. When communication of acceptance is received by the
offeror
Rationale: A contract is formed upon valid acceptance and
communication to the offering party, creating mutual assent.
7. Which statement regarding dual agency in Oregon is
correct?
A. It is prohibited
B. It occurs automatically in all transactions
C. It requires only oral consent
D. It requires written informed consent from both parties
, Rationale: Dual agency is legal in Oregon but requires full
disclosure and written informed consent from both buyer and
seller.
8. Which action would likely violate Oregon escrow rules?
A. Prompt deposit of funds
B. Maintaining detailed records
C. Using a neutral escrow account
D. Commingling personal and client funds
Rationale: Commingling is strictly prohibited because it
compromises fiduciary trust and violates escrow regulations.
9. The Oregon Real Estate Agency is primarily responsible
for:
A. Drafting contracts
B. Setting property taxes
C. Enforcing zoning laws
D. Licensing and regulating real estate professionals
Rationale: The Agency oversees licensing, education,
discipline, and enforcement of real estate laws and rules.
10. A broker advertising a property must:
A. Always include the seller’s name
B. Avoid any mention of price
Verified Practice Questions & Answers
with Detailed Rationales (2026 Edition)
1. Which of the following BEST describes an Oregon real
estate broker’s fiduciary duty regarding disclosure?
A. Disclose only material facts requested by the client
B. Disclose all known material facts regardless of agency
C. Disclose only adverse facts about the property
D. Disclose all known material facts that could affect a
reasonable party’s decision
Rationale: A broker must disclose all known material facts
that a reasonable person would consider important in a
transaction. This duty applies regardless of agency status and
includes both positive and negative facts affecting value or
desirability.
2. In Oregon, an earnest money deposit must generally be
deposited into a trust account within:
A. 24 hours of acceptance
B. 72 hours of receipt
C. 5 business days
D. 3 business days
,Rationale: Oregon administrative rules require earnest money
to be deposited promptly, typically within 3 business days of
receipt, ensuring proper safeguarding of client funds.
3. A broker acting as a disclosed limited agent primarily
owes which duty to a customer?
A. Loyalty
B. Obedience
C. Full fiduciary representation
D. Honest dealing and disclosure of material facts
Rationale: Limited agents owe fiduciary duties to their
principal, but to customers they owe honesty, good faith, and
disclosure of material facts—not full fiduciary duties.
4. Which document BEST defines the relationship between
principal and broker in Oregon?
A. Purchase agreement
B. Listing agreement
C. Earnest money agreement
D. Agency agreement
Rationale: The agency agreement establishes the legal
relationship and duties between the broker and principal,
including fiduciary obligations and scope of representation.
5. Under Oregon law, a broker may be disciplined for:
,A. Only intentional fraud
B. Only criminal acts
C. Only contract breaches
D. Violation of administrative rules even without intent
Rationale: Oregon Real Estate Agency may impose discipline
for negligence or rule violations regardless of intent, focusing
on consumer protection and professional standards.
6. A buyer makes an offer that is accepted without changes.
When is a contract formed?
A. When the seller signs the offer
B. When earnest money is deposited
C. When financing is approved
D. When communication of acceptance is received by the
offeror
Rationale: A contract is formed upon valid acceptance and
communication to the offering party, creating mutual assent.
7. Which statement regarding dual agency in Oregon is
correct?
A. It is prohibited
B. It occurs automatically in all transactions
C. It requires only oral consent
D. It requires written informed consent from both parties
, Rationale: Dual agency is legal in Oregon but requires full
disclosure and written informed consent from both buyer and
seller.
8. Which action would likely violate Oregon escrow rules?
A. Prompt deposit of funds
B. Maintaining detailed records
C. Using a neutral escrow account
D. Commingling personal and client funds
Rationale: Commingling is strictly prohibited because it
compromises fiduciary trust and violates escrow regulations.
9. The Oregon Real Estate Agency is primarily responsible
for:
A. Drafting contracts
B. Setting property taxes
C. Enforcing zoning laws
D. Licensing and regulating real estate professionals
Rationale: The Agency oversees licensing, education,
discipline, and enforcement of real estate laws and rules.
10. A broker advertising a property must:
A. Always include the seller’s name
B. Avoid any mention of price
