| Real Estate License & Exam Information |
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| EXAMINATIONS |
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License Examinations
Real Estate Broker and Real Estate Property Manager License applicants must pass a license examination. The Agency contracts with an exam services provider, PSI Examination Services (PSI), to conduct the computer-based examinations.
Applicants must register for an exam through the Real Estate Agency, and schedule and take the exam through PSI. The exam procedures are detailed below.
Fees
Broker (one or two sections) and Property Manager License examinations are $75.
Application
To register for an exam, you must submit a License Examination Application and the exam fee to the Real Estate Agency. Click here for the License Examination Application (-pdf). Although the Background Check Application and the required education certificates do not have to be submitted prior to registering for an exam, we recommend you submit the documentation as soon as possible. The Background Check can take two to three months or longer to complete.
Upon receipt and processing of your License Examination Application and exam fee, the Agency will mail an Eligibility Letter to you. Please allow up to two weeks processing time. The Eligibility Letter contains information on how to schedule an exam with PSI.
Scheduling The Exam
Upon receipt of your Eligibility Letter, contact PSI directly to schedule an exam appointment. PSI will make every effort to schedule the test center location and time that is most convenient for you. Go to www.psiexams.com for Test Center information.
To schedule an exam with a PSI customer service representative, call 1-800-733-9267 Monday through Friday, between 5:00 a.m. and 5:00 p.m. Pacific Standard Time. To schedule using an automated phone system with a touch-tone phone, call PSI at 1-800-733-9267 (1-800-R-E-EXAMS), available 24 hours a day. You may also schedule via the Internet at www.psiexams.com.
If space is available at the Test Center of your choice, you may schedule an exam one full business day prior to the examination date (the day you call is not considered a full business day). Please be prepared to offer alternative exam appointment choices.
Examination Time Limits
The table below indicates the number of questions and the time allowed to complete each examination.
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Examination
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Section
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# of Questions
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Time Allowed
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| Broker |
National |
150
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3 hours
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| Broker |
Oregon |
50
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2 hours
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| Property Manager |
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150
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3 hours
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Cancelling & Rescheduling An Exam
You may cancel and reschedule an exam appointment without forfeiting the exam fee if your cancellation notice is received two full business days before the scheduled examination date. For example, for a Thursday appointment, the cancellation notice would need to be received by PSI by the close of business on the previous Tuesday. To cancel and reschedule an exam appointment, you may:
- Call PSI at 1-800-733-9267 (1-800-R-E-EXAMS), Monday through Friday between 5:00 a.m. and 5:00 p.m. Pacific Standard Time to speak to a customer service representative;
- Fax a note to 1-702-932-2666;
- Use the Internet at www.psiexams.com; or
- Use the automated phone system, using a touch-tone phone, 24 hours a day.
Please note: A voice mail message is not an acceptable form of cancellation.
Missed Appointment or Late Cancellation
You will forfeit the examination fee and must reapply for another exam by submitting a new License Examination Application and exam fee to the Real Estate Agency if you:
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Do not cancel an exam appointment two full business days before the scheduled examination date;
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Do not appear for your scheduled exam appointment;
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Arrive after the scheduled examination start time; or
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Do not present proper identification upon arrival at the Test Center.
Out of State Exams
If a real estate broker licensing examination was taken in another state, the National section of the Broker Licensing Examination may be waived if: (1) the exam was taken since November 1973 and (2) the license held from that examination has not been expired for more than one year. A certified licensing history from the state licensing agency where the license was held must be provided for review before a decision on a waiver can be made.
If you took a real estate broker license exam in another state within the last 12 months and did not obtain a license from that exam, you may also be able to receive a waiver. Please contact the Agency's Licensing Section at (503) 378-4170, select 0.
Alternative Exam Arrangements
In accordance with the Americans with Disabilities Act (ADA) of 1990, the Real Estate Agency and the PSI testing centers are equipped to provide reasonable accommodation to meet an applicant's special needs. Applicants should notify the Agency at the time of exam application if special arrangements are needed by submitting a written request that describes the specific arrangements needed. The Agency will contact the applicant and may request supporting documentation of the circumstances.
Disclosure of Information
Information applicants provide to the Real Estate Agency on the License Examination Application may be released under Oregon's public records laws.
While administrative rule requires completion of the Application, the daytime telephone number section is optional. In the event it is necessary, the Agency will rely on mail service to contact an applicant for whom no telephone number is available. However, corresponding by mail could slow processing of an application. The Agency advises applicants to weigh the consequences of not providing the information when making the decision whether to include a telephone number.
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| TEST CENTER INFORMATION |
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Test Center Closing For An Emergency
In the event that severe weather or another emergency forces the closure of a Test Center on a scheduled examination date, your examination will be rescheduled. PSI personnel will attempt to contact you in this situation. However, you may check the status of your examination appointment by calling PSI at 1-800-733-9267 (1-800-R-E-EXAMS). PSI will make every effort to reschedule your examination at a convenient time as soon as possible.
Test Center Locations
Real Estate Broker and Real Estate Property Manager License Examinations are administered at PSI Test Centers in Baker City, Bend, Eugene, Medford, Portland and Wilsonville. Testing is available at the Portland testing center five days a week, three to four days a week in Wilsonville, three days a week in Eugene and Medford, and twice a week in Baker City and Bend. All centers are open Saturdays, and some offer evening sessions. If there is a demand, additional testing sessions may be added. Please visit www.psiexams.com for Test Center Locations and driving directions.
Reporting To The Test Center To Take Your Exam
On the day of the exam, PSI recommends you arrive at least 30 minutes before your scheduled examination appointment time. This extra time is for sign-in, identification, and becoming familiar with the examination process. If you do not arrive at your scheduled exam appointment time, you may not be admitted to the Test Center and will forfeit your examination fee. You would then need to reapply for another exam by submitting a new License Examination Application and exam fee to the Real Estate Agency.
Required Identification At The Test Center
You must provide valid photo identification at the Test Center. The identification must include a photograph, with the name as it appears on your Eligibility Letter, and signature. Examples of acceptable photo identification are a driver's license, a passport, a military ID, or an employee identification card.
If you do not possess photo identification you may apply at any field office of the Department of Motor Vehicles for a "non-driver identification card."
Please note: If you recently changed your name (e.g. married), or if your last name includes a generation indicator (e.g. Jr., III), be sure that the name that appears on your photo identification is the same name that appears on your Eligibility Letter.
If you cannot provide the required identification, you must call PSI at 1-800-733-9267 (1-800-R-E-EXAMS) at least three weeks prior to your scheduled exam appointment to arrange a way to meet this security requirement. Failure to provide the required identification at the time of the examination without notifying PSI is considered a missed appointment, and you will not be able to take the examination. You would need to reapply for another exam by submitting a new License Examination Application and exam fee to the Real Estate Agency.
After you sign-in and present the required identification, the proctor will provide you with scratch paper and a Test Question Review Sheet. The proctor will retain your ID until you complete the exam and return the exam materials.
Security Procedures
The examinations are closed book. You will not be allowed to bring any reference materials to the Test Center. Applicants need to bring a nonprogrammable calculator that is silent, battery-operated, does not have paper tape printing capabilities, and does not have a keyboard containing the alphabet.
The following security procedures will apply during the examination:
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Notes or books are not allowed.
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You may not exit the building during the examination.
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Cell phones, pagers, purses, and children are not allowed in the Test Center.
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Only nonprogrammable calculators that are silent, battery-operated, do not have paper tape printing capabilities, and do not have a keyboard containing the alphabet will be permitted.
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Smoking, eating, or drinking is not allowed in the testing room. You will be permitted to take a food or drink break in the lobby area.
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Copying or communicating examination content is a violation of security regulations and may result in the disqualification of examination results.
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| DESCRIPTION OF THE EXAMS |
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Broker Exam
The Broker Licensing Exam is divided into two sections: Broker National exam, 150 multiple-choice questions, and Broker Oregon exam, 50 multiple-choice questions.
Both sections must be passed with the score of 75% or better. An applicant who fails either the National or Oregon section of the Broker exam is required to retake only the failed section. The score for the section passed is valid for 12 months; if the other part of the exam is not passed within 12 months, both sections of the exam must be retaken.
Broker/National Section
The National section consists of 150 questions of the 200 total questions on the Broker license exam, and covers content areas common to all states. The major content areas and the percentage and types of questions included in each content area of the Broker/National exam are described below:
- Real Estate Law - 30 questions
Questions include: forms of ownership; purchase and sale of real property; easements and encumbrances; nature of real property; and ways to legally describe property.
- Real Estate Finance - 30 questions
Questions include: government lending policies; conventional financing; government lending laws, Truth-in-Lending, Equal Credit Opportunity Act, Real Estate Settlement Procedures Act; competitive market analyses, and mathematical computations.
- Real Estate Practice - 30 questions
Questions include: listing agreements; sales agreements, such as offers to purchase and seller's counter offers; federal fair housing, and Americans with Disabilities Act.
- Real Estate Brokerage - 20 questions
Questions include: Real estate closings, advertising, office manuals, and financial reports.
- Real Estate Agency - 15 questions
Questions include: Common law of agency including fiduciary requirements.
- Real Estate Contracts - 15 questions
Questions include: Basic contract law, required provisions for listing agreements, earnest money agreements, options and leases.
- Real Estate Property Management - 10 questions
Questions include: Economics of property management, leases, recordkeeping, and anti-discrimination statutes.
Broker/Oregon Section
The questions in the Oregon Section consist of 50 questions of the 200 total questions on the Broker license exam. The questions are specific to Oregon laws and rules, and the content areas, percentage and types of questions in each content area are described below:
- License Law, Administrative Rules, and Transaction Documents - 30 questions
Questions include: Real Estate License Law (ORS 696); Oregon Administrative Rules (OAR 863-15); Earnest Money Receipts; Listing Agreements; and Closing Statement. Mathematical calculations are included in the Listing Agreement, Earnest Money Receipt and Closing Statement questions.
- Oregon Real Estate Related Statutes - 20 questions
Questions include: Assessment and Taxation of Real Property; Oregon Veteran's Loan Program; Rectangular Survey System; Residential Landlord and Tenant Act (ORS 90.100 - 90.840); Subdivisions and Partitions (ORS 92.010 - 92.990); Oregon Condominium Act (ORS 100.005 - 100.990); Water Rights; Construction Lien Law (ORS 87.001 - 87.093); Discrimination Statute (ORS 659.033); Oregon Homestead Statutes (ORS 23.280 - 23.300; 311.666 - 311.696); Oregon Trust Deed Act (ORS 86.705 - 86.795); Title Insurance; Deed Forms; Oregon Land Use Law; and forms of ownership.
Property Manager Exam
The Property Manager exam consists of 150 questions. A score of 75% is required to pass. Described below are the major content areas, and the percentage and types of questions in each content area:
- Real Estate License Law - 30 questions
Questions include: License law as it applies to property managers.
- Clients' Trust Accounts - 25 questions
Questions include: Requirements for clients' trust accounts and reconciliation of accounts.
- Real Property Law - 30 questions
Questions include: Types of estates and forms of ownership; transfer of title; taxes and assessments; foreclosure and redemption rights, and land use control.
- Economics, Leases and Agency - 25 questions
Questions include: Economics of property management, types of leases and lease clauses, and law of agency.
- Management record keeping and Fair Housing - 25 questions
Questions include: Operating reports, budgets, federal and state anti-discrimination statutes.
- Oregon Landlord and Tenant Act - 15 questions
Questions include: Tenant and landlord rights and obligations under ORS 90.
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| PREPARING FOR YOUR EXAM |
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Tips
Prior to examination, you should have a thorough knowledge of real estate practice, Oregon real estate laws and rules, real estate finance, agency, contracts, property management and real estate brokerage. Pre-license courses of study approved by the Agency are designed to provide you with the basic knowledge needed for the exam.
The following suggestions will help you prepare for your license examination. Planned preparation, in addition to completing the required pre-license education, increases your likelihood of passing.
- Use the exam content and topic breakdown provided in the "Descriptions of the Examinations" provided above as the basis of your study. Exam descriptions are also included as Appendix 5 in the Agency's Real Estate License and Examination Information booklet. You may request a booklet by calling (503) 378-4170, select 0.
- Study course materials that cover all the topics in the content outlines provided in the "Description of the Examinations". Additional textbooks and materials on real estate are available from libraries, private real estate schools, community college and university bookstores, and directly from publishing companies. The Agency publishes Questions and Answers in Real Estate, and the Oregon Real Estate Manual, which can be purchased by returning the Publications Order Form (-pdf) with the appropriate fee. Questions and Answers contains nearly 2,700 questions and answers from the Agency's licensing examinations. The Manual contains information regarding the laws and rules administered by the Agency, but it is not a complete real estate textbook.
- Take notes on what you study. Putting information in writing helps you commit it to memory and it is also an excellent business practice. Underline or highlight key ideas that will help you with a later review.
- Discuss new terms or concepts as frequently as you can with colleagues. This will test your understanding and reinforce ideas.
- Your studies will be most effective if you study frequently, for periods of about 45 to 60 minutes. Concentration tends to wander when you study for longer periods of time.
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| SAMPLE QUESTIONS |
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The following sample questions are similar to those used in the real estate exams. There are four possible answers to each question. The answer key follows.
1. Personal property can be
(A) converted into real property.
(B) hypothecated.
(C) alienated.
(D) any of the above.
2. All of the following are essential elements to a lawfully enforceable contract,
EXCEPT
(A) legality of object.
(B) mutual assent.
(C) consideration and competency.
(D) recordation.
3. The most common form of the gross lease is the
(A) ground lease.
(B) apartment lease.
(C) shopping center lease.
(D) industrial lease.
4. It is characteristic of mortgage brokers that they
I. function to bring borrowers and lenders together for a real estate loan.
II. seldom make and service loans on their own accord.
(A) I only
(B) II only
(C) Both I and II
(D) Neither I nor II
5. A properly executed promissory note establishes
(A) the amount of the debt.
(B) who is borrower and who is lender.
(C) the terms of repayment and the interest rate.
(D) all of the above.
6. A special permit that is issued to create a land-use normally in violation with present
zoning is called
(A) a non-conforming use.
(B) an amendment.
(C) a variance.
(D) a modification.
7. All written offers are to be tendered to the seller
(A) promptly.
(B) within 48 hours.
(C) within three business days.
(D) within five calendar days.
8. An abstract of title
I. shows the history of ownership of the parcel.
II. guarantees a valid title.
(A) I only
(B) II only
(C) Both I and II
(D) Neither I nor II
ANSWER KEY: 1. D; 2. D; 3. B; 4. C; 5. D; 6. C; 7. A; 8. A
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| TAKING THE EXAM BY COMPUTER |
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Taking the examination by computer is simple. Applicants do not need any computer experience or typing skills. You will use about the same number of keys that you use on a touch-tone telephone. All response keys are colored and have prominent characters. You may also use the mouse. Please visit www.psiexams.com to view an illustration of the special keyboard.
Identification Screen
You will be directed to a semiprivate testing station to take the examination. When you are seated at the testing station, you will be prompted to confirm your name, Real Estate Agency permanent identification number, and the examination for which you are registered.
Tutorial
Before you start your exam, an introductory tutorial to the computer and keyboard is provided on the computer screen. The time you spend on the tutorial, up to 15 minutes, does not count as part of your examination time. Sample questions are included as part of the tutorial so that you may practice using the keys, answering questions, and reviewing your answers.
One question appears on the screen at a time. During the exam, you would press 1, 2, 3, or 4 to select your answer or press “MARK” to mark it for later review. You would then press “ENTER” to record your answer and move on to the next question. Minutes remaining will be displayed at the top of the screen and updated as you record your answers.
IMPORTANT: After you have entered your responses, you will later be able to return to any question(s) and change your response, provided the examination time has not run out.
Pretest Questions
In addition to the number of questions specified for your examination, a small number (approximately five) of “pretest” questions may be administered to you during the examination. These questions will not be scored and the time taken to answer them will not count against examination time. The administration of unscored questions is an essential step in gathering statistical data to develop future license examinations.
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| AFTER THE EXAM |
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Score Reporting
A score of 75% is required to pass all real estate examinations, and is required on both the National section and theOregon section of the Broker Licensing Examination. Broker and Property Manager passing scores are valid for one year from the date of passing. You must submit the appropriate license forms within that time or you will be required to retake the examination.
Your score will be given to you immediately following completion of the examination. Your score results are sent electronically to the Real Estate Agency. The following summary describes the score reporting process:
On screen – Your score will appear immediately on the computer screen. This will happen automatically at the end of the time allowed for the exam; if you are using review features, you will be able to obtain your score immediately when you indicate that you have finished and would like to see your results.
On paper – An official score report (pass or fail) will be printed at the examination site. This report will include a diagnostic report indicating your strengths and weaknesses by examination topic. The official score report is for your records. Do not send it to the Real Estate Agency.
If you do not pass – The License Examination Application (-pdf) is available at the Test Center. To reapply for the exam, you must submit the License Examination Application and the exam fee to the Real Estate Agency. The Agency will mail an Eligibility Letter to you which enables you to schedule and take another exam.
If you pass and your background check has been completed – The Real Estate Agency will mail a license application to you within one to two weeks. Please notify the Agency of changes of address to assure the license application is sent to your correct address.
If you pass and your background check is not complete – The Real Estate Agency will mail a license application to you as soon as the background check is completed. You have one year from the exam date to apply for your license.
Broker Applicants
If you pass only one section of the Broker License exam, you are required to retake only the failed section. The score for the section passed is valid for 12 months; if the other part of the examination is not passed by then, both sections of the exam must be retaken. You must have valid exam scores for both sections when applying for a license.
Duplicate Score Reports
You can write to PSI to request a duplicate of your score report after your examination. PSI’s fee for a duplicate score report is $15. PSI will accept a money order or cashier’s check only.
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| REVIEW OF EXAM QUESTIONS |
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Applicant Comments
The Real Estate Agency and PSI consistently evaluate the examinations being administered to ensure the exams accurately measure competency in the required knowledge areas. Examinees are provided a Test Question Review Sheet at theTest Center to record any comments regarding the questions and the examinations. These comments are welcome and will be analyzed by the Agency and PSI examination development staff. While the Agency or PSI may not respond to individuals regarding these comments, all substantive comments are reviewed. If an error affecting examination scores is discovered as a result, which occurs very rarely, the examination scores of all affected applicants will be automatically adjusted. This is the only review of examination materials available to applicants.
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