Oregon Real Estate | Property Management 1
Exam Questions and Answers with Verified
Solutions | Latest Updated 2026
ORS Oregon Revised Statutes; laws passed by
the legislature
OAR Oregon Administrative Rules; rules
created by agencies to interpret or carry
out statutes
ORS 696 Oregon real estate license law
OAR 863 Oregon real estate administrative rules
ORS 90 Oregon Residential Landlord and Tenant
Act
Property management Management of rental real estate for
another person, usually for compensation
Management of rental real Activities related to renting, leasing,
estate managing, or operating rental property
Property manager as agent A property manager representing an
owner is the owner's agent
, Fiduciary duties Duties of honesty, loyalty, care,
accounting, disclosure, and
confidentiality
Non-waivable duties Duties that cannot be waived by the
owner or property manager
Professional real estate Activity such as selling, leasing, renting,
activity negotiating, or managing real estate
One act rule One act of professional real estate
activity requires a license unless exempt
License requirement test Ask whether the activity is professional
real estate activity, for another person for
compensation, and whether an
exemption applies
Advertising exemption Publications may advertise rentals
without a license if they do not negotiate
Rental referral exemption Referral agencies may provide rental lists
but may not negotiate
Hotel or innkeeper exemption Certain short-term lodging activity is
exempt
Attorney exemption Attorneys are exempt when performing
legal duties
Exam Questions and Answers with Verified
Solutions | Latest Updated 2026
ORS Oregon Revised Statutes; laws passed by
the legislature
OAR Oregon Administrative Rules; rules
created by agencies to interpret or carry
out statutes
ORS 696 Oregon real estate license law
OAR 863 Oregon real estate administrative rules
ORS 90 Oregon Residential Landlord and Tenant
Act
Property management Management of rental real estate for
another person, usually for compensation
Management of rental real Activities related to renting, leasing,
estate managing, or operating rental property
Property manager as agent A property manager representing an
owner is the owner's agent
, Fiduciary duties Duties of honesty, loyalty, care,
accounting, disclosure, and
confidentiality
Non-waivable duties Duties that cannot be waived by the
owner or property manager
Professional real estate Activity such as selling, leasing, renting,
activity negotiating, or managing real estate
One act rule One act of professional real estate
activity requires a license unless exempt
License requirement test Ask whether the activity is professional
real estate activity, for another person for
compensation, and whether an
exemption applies
Advertising exemption Publications may advertise rentals
without a license if they do not negotiate
Rental referral exemption Referral agencies may provide rental lists
but may not negotiate
Hotel or innkeeper exemption Certain short-term lodging activity is
exempt
Attorney exemption Attorneys are exempt when performing
legal duties
