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Oregon Real Estate Broker Exam: Study Guide & Practice  /  Real Estate Prep

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Oregon Real Estate Broker Exam: Study Guide & Practice Final Exam

Free Practice Test Instructions:

Choose your answer to the question and click 'Continue' to see how you did. Then click 'Next Question' to answer the next question. When you have completed the free practice test, click 'View Results' to see your results. Good luck!

Question 1 1. Kerry works for a bank. He just denied a loan to a couple seeking to buy real estate in the inner city where the default rates are always high. The loan was denied because the husband had just lost his job and the family has recently took some dings on their credit report, which also indicates a high amount of credit card debt. What unethical practice is Kerry engaging in?

Question 2 2. Which of the following is not appropriate for the deposit into a broker's trust account?

Question 3 3. How much does a point cost a buyer?

Question 4 4.

Regarding promissory notes, are these statements true or false?

1. Sandy learned that promissory notes typically contain repayment terms, whereas IOUs do not.

2. Sandy found out that promissory notes are typically less detailed than a loan contract.

Question 5 5. What can the owner of both the surface and mineral rights of a property do with them?

Question 6 6. What gives the mineral estate the right to make reasonable use of the surface?

Question 7 7. What is a vacated road?

Question 8 8. What legal doctrine may allow a trespasser to take legal title of your property?

Question 9 9. Which of the following real estate disclosures is not required by state or local laws?

Question 10 10. A seller might be held liable for which of the following situations months or years after the completion of a real estate transaction?

Question 11 11. Which of the following is a right of the life estate holder?

Question 12 12. Which of the following will tell you the type of restrictions there are on the use of your condo unit?

Question 13 13. The building cost of an existing property is $85,000. A similar house could be built for $30,000 on a piece of land that could be bought for $25,000. The appraiser estimates the existing property to have $20,000 worth of depreciation. What is the valuation price using the cost approach method?

Question 14 14. A copper mine was the town's biggest employer and recently closed. House values have collapsed and houses have become difficult to sell at any price. What type of consideration is this an example of?

Question 15 15. What policy was enacted to ensure the proper identification of the party/parties responsible for contamination of property?

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Oregon Real Estate Broker Exam: Study Guide & Practice Final Free Practice Test Instructions

Choose your answer to the question and click 'Continue' to see how you did. Then click 'Next Question' to answer the next question. When you have completed the free practice test, click 'View Results' to see your results. Good luck!

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