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Summary of Real Estate Licenses and the
Course Guidelines Published by the Oregon Real Estate Agency
Oregon law requires completion of specific courses before a license may be issued (discussed below). Courses may be completed through an approved private school, community college or university. Private schools must be licensed by the Oregon Department of Education and must submit courses for approval by the Real Estate Agency to ensure that they meet the course guidelines published by Commissioner. Community colleges and universities are exempt from this requirement, although most follow the course guidelines anyway.
There are three basic kinds of licenses: a broker, a principal broker, and a property manager. A brokers license is generally the first license. A broker is allowed to operate independently (as a “sole practitioner broker) or under the supervision of a principal broker. To operate independently a broker needs three years licensed experience, but there are no other additional exams or courses. A broker may not supervise other licensees.
A principal broker is the same as a broker, but has three years of experience and has completed an additional course in supervision. Principal brokers may be independent or can supervise other licensees.
A property manager may engage in any management activity (residential, commercial, or other), but can perform only management. A property manager licensee may not do sales activity. A property manager may be independent or may work under another property manager or under a principal broker.
To go to the website of the Oregon Real Estate Agency, click here.
Required Courses
Real Estate Broker
Real Estate Law, 30 hours
Real Estate Finance, 30 hours
Real Estate Practices, 30 hours
Real Estate Contracts, 15 hours
Real Estate Agency, 15 hours
Real Estate Property Management, 10 hours
Real Estate Brokerage, 20 hours
All licenses are issued for two-year terms. Prior to the first renewal, a broker must also complete a course in Advanced Real Estate Practices, 30 hours. All licensees must complete 30 hours of continuing education every two years in order to renew their licenses. The Advanced Real Estate Practices course can be used to meet the brokers first 30-hour continuing education requirement as well as their course requirement.
Principal Real Estate Broker
Same as Broker requirements, plus a course in Brokerage Administration and Sales Supervision, 40 hours
Principal brokers must also have three years license experience, although there are exceptions. Out-of-state experience is generally accepted.
Property Manager
Real Estate Property Management, 60 hours.
All courses for all licenses must be via instruction, either live, or on tape, with an approved instructor present, or distance education (correspondence or internet-based). Regular courses must be approved by the Real Estate Agency. Approval requires the school to submit a course outline which follows the course guidelines (see below), résumé of the instructor, and a final examination which also covers the material in the course guidelines.
Distance education must be approved by the Association of Real Estate License Law Officials (ARELLO). Few schools have done so because ARELLO charges thousands of dollars per course for approval, plus developing the materials is very expensive.
Prior to July 1, 2002 it was possible to satisfy a course requirement by studying on your own and taking a challenge (competency) examination. This is no longer an option.
Courses taken out of state generally are not acceptable, with the possible exception of Real Estate Finance, or a course taken at a private school which has received course approval from the Oregon Real Estate Agency. If you wish the Real Estate Agency to consider courses taken out of state you will have to submit the course outline and other materials pertinent to the course to the Real Estate Agency.
Examinations All examinations are four-answer multiple choice exams designed to be machine scored. Exams are a priori exams; that is, you know it or you don't. There is no psychological game-playing. No percentages are subtracted for guessing, so you should answer all questions, even if you must take a wild stab in the dark. Exam questions are all written by the staff of the Real Estate Agency with input from real estate schools, instructors, and the Real Estate Board. The Real Estate Agency also administers all exams. Unlike most states, the Oregon Real Estate Agency does not contract with an outside testing service. Examinations are timed, but you will have more than enough time.
Special precaution for out-of-state applicants: Like the number of hours of required education, the difficulty level of Oregon real estate exams is somewhat higher than average. This is simply a political issue. It has nothing to do with the size of the state or its population. Every month there are out-of-state applicants who erroneously assume that since they have a license in a larger or more populous state that Oregon's real estate exams will be a breeze. While it is true that your background will make it easier to study the material, please do not underestimate the exams you are preparing for. The laws in all states are slightly different, including Oregon. You will have a better and more successful experience if you keep an open mind and discard your preconceptions.
Applicants for a brokers license must complete a “national” examination of 150 questions and an Oregon, or “state” exam of 50 questions with a score of 75% or higher on each. If you already have a brokers or sales license in another state the Real Estate Agency may require that you take only the Oregon exam.
If you have a brokers license (or a sales license) in another state, and you have at least three years experience, you may take the 40-hour Brokerage Administration and Sales Supervision course in addition to the seven broker courses above and be granted a principal brokers license upon passing the exam(s). Persons who already hold an Oregon brokers license may become principal brokers just by taking the Brokerage Administration and Sales Supervision course and having the three years of experience. They have already passed the Oregon brokers exam, so they do not need to take any additional exams. Note that Oregon has just a brokers exam; not a separate brokers exam and sales exam.
A property manager license applicant must take one 150-question examination on property management and pass it with a score of at least 75%.
All examinations are given monthly on the third or fourth Saturday in Portland, Salem and Medford, six times a year in Bend, and three times a year in LaGrande. Your application must be postmarked by the 5th of the month in which you wish to take the exam. (Be careful not to put the envelope in a drop box where the post office will not pick it up until the next day!)
To apply for the exams you must fill out the exam application which you can obtain from the Real Estate Agency. Included with the application will be an Examination Information Booklet and a fingerprint card. The fingerprint card will be sent via the Oregon State Police to the Federal Bureau of Investigation. No license will be issued until the fingerprint history is received by the Real Estate Agency, and this can take several months. Therefore, it is suggested that you start with the fingerprint process. You can send in the fingerprint card with the $40 fee for processing it prior to sending in the actual exam application. The Real Estate Agency will keep the fingerprint history on file awaiting your exam and license applications.
Course Guidelines
The following course guidelines are reproduced verbatim from materials provided by the Real Estate Agency to real estate schools and course providers. The percentages in front of each topic area reflect the amount of the total time that should be devoted in class for that topic; e.g., in a 30-hour course, "10%" means three hours should be spent on that topic. The same percentages reflect the number of questions for that topic on the course final examination which the schools must submit as part of their application for course approval. For example, Real Estate Law requires a 60-question final examination, so the first topic (20%) means their final examination must have 12 questions on that topic.
As you read through the following guidelines you should be aware that they were composed by someone who has never written a real estate textbook and has no idea how to present material in logical order to a class. Topics are frequently disconnected and tossed together with other topics that they do not belong with. There is frequent duplication from one course to the next. In one case (Contracts) 20% of the course is assigned to a statute, most of which was rendered irrelevant by the 1993 Oregon Legislature.
And most importantly, the following course guidelines are not necessarily the material that will be covered on the national/state brokers exam or the property managers exam, nor will the exams necessarily cover the material in the same percentages. At the end of the course guidelines below we have also reproduced the outlines the Real Estate Agency uses for the license exams (which are also described in the Examination Information Booklet). When doing your final exam preparation use the exam outlines, not the course guidelines.
Real Estate Broker Courses
Real Estate Law - 30 hours
The goal of instruction in this competency area is to present a survey of general real estate law with an emphasis on Oregon real property law which is fundamental to the understanding and practice of real estate business activity in Oregon
By the end of this course each student should know and, when applicable, be able to apply:
1. (20%) Basic real property law, types of estates and forms of ownership, such as fee simple absolute, severalty, various concurrent estates, trust, by business organization; the nature of real property versus the nature of personal property; fixtures, emblements, water rights (riparian rights, natural drainage rights, state ownership of navigable riverbed), estoppel, condemnation, and severance.
2. (10%) Ways to legally describe real property, including the proper and complete writing of legal descriptions for real estate transaction documents commonly used in Oregon.
3. (10%) Transfer of title including voluntary and involuntary transfers, proper deed conveyance (types and their requirements, statutory deed forms, recording requirements, acknowledgment).
4. (15%) Encumbrances including easements, such as easement appurtenant, easements in gross, easement by necessity, easements by prescription, as well as how easements are created and terminated; also voluntary and involuntary encumbrances, especially statutory liens, such as mechanics liens, tax liens, judgment liens and federal income tax liens.
5. (10%) Title insurance, escrow recordation including types of coverage and exclusions in title insurance policies; escrow procedures; requirements for recordation of documents.
6. (10%) Taxes and assessments especially the levy and collection process, foreclosure and redemption rights, exemptions, special assessments, and the Bancroft Bonding Act.
7. (25%) Land use control including private controls such as covenants, conditions and restrictions; public controls such as planning, zoning, city and county subdivision platting, building regulations, implied warranties on new homes, consumer protection in land sales through recording of land sales contracts, public reporting under Oregon Subdivision Control Law; and condominiums including the creation thereof and statutory obligations of condominium developers.
Final examination: Minimum 60 questions
Real Estate Finance - 30 hours
Instructional goals for Real Estate Finance include a familiarization of the methods by which real estate is financed and appraised in Oregon, along with the ability to perform mathematical computations commonly required of real estate licensees.
By the end of this course each student should know and, when applicable, be able to apply:
1. (10%) Lending laws, including federal laws and regulations such as Regulation Z, the federal Equal Credit Opportunity Act, and the Real Estate Settlement Procedures Act.
2. (10%) The money market, sources of financing; private versus government sources, the primary and secondary mortgage markets, the federal money market and federal monetary controls.
3. (10%) Financing documents, including mortgages, trust deeds, and land sales contracts.
4. (10%) Foreclosure, terms, methods, procedures and remedies.
5. (10%) Government loan programs; FHA, Federal VA, Oregon DVA.
6. (10%) Non-governmental loan programs, such as conventional loans, construction loans, and mobile home loans.
7. (10%) Competitive market analyses, principles, terminology, processes, and approaches commonly used.
8. (15%) Mathematical calculations used in financing real estate transactions.
9. (05%) Taxation and its impact in financing arrangements.
Final examination: Minimum 30 questions
Real Estate Practices - 30 hours
The fundamental instruction goal for Real Estate Practice is to thoroughly train students in all facets of the practice of Oregon Real Estate License Law as set out in Oregon Revised Statutes Chapter 696 and Oregon Administrative Rules Chapter 863.
By the end of this course each student should know and, when applicable, be able to apply:
1. (05%) The basic business relationships between principal broker and salesperson affiliates including, for example, the agency relationship, supervisory responsibilities of the principal broker, duties and liabilities to third parties.
2. (25%) The Oregon real estate license requirements and the limitations on licensing as set forth in the Oregon Real Estate License Law; also the rules and regulations, especially their applications to real estate transactional documents, advertising, competitive market analyses, property management, and licensees.
3. (20%) Listing agreements; the administrative rules which apply to the marketing and advertising of listed properties.
4. (20%) Sale agreements such as offers to purchase and sellers counteroffers, earnest money agreements, options to buy real property, the laws, rules and regulations affecting sale agreements.
5. (15%) The Civil Rights Act and its administration and enforcement, and real estate related provisions of the Americans with Disabilities Act.
6. (15%) The basic roles, including additional requirements, liabilities, and needs for advanced training in related activities, such as competitive market analyses, property management (including renting and leasing), exchanging, securities, business opportunities (i.e., business chance brokering); auctions, farms, vacation homes, and campgrounds, as well as other basic roles mentioned in the Oregon Real Estate Manual.
Final examination: Minimum 60 questions
Real Estate Contracts - 15 hours
The instructional goal in Real Estate Contracts is to provide the student an adequate foundation in the requirements for common real estate contracts, including listings, offers to purchase, leases, and land sales contracts. In addition, special attention is directed to state-specific requirements for contracts.
By the end of this course each student should know and, when applicable, be able to apply:
1. (40%) Basic contract law including elements necessary to form a contract, breaches and interference with an existing contract.
2. (40%) Real estate contracts, especially required provisions and suggested language for listing agreements, earnest money/sale agreements, options, land sales contracts, leases and escrow agreements.
3. (20%) Special requirements and limitations on contracts for the sale for subdivided lands, condominiums and planned developments under Oregon law.
Final examination: Minimum 30 questions
Real Estate Agency - 15 hours
The instructional goal of Real Estate Agency is to provide a comprehensive examination of agency, its common-law aspects as well as statutory requirements.
By the end of this course each student should know and, when applicable, be able to apply:
1. (40%) The common law of agency, including an in-depth study of the fiduciary requirements and its application to real estate brokerage.
2. (60%) Oregon Revised Statutes 696.800 et seq. generally. Emphasis is to be given to the affirmative requirements of an agent to clients and others as set out in Oregon Revised Statutes 696.805 to 696.815.
Final examination: Minimum 30 questions
Property Management - 10 hours
The primary instructional goal of Property Management is to introduce the student to the specialty and its attendant statutory requirements.
By the end of this course each student should know and, when applicable, be able to apply:
1. (35%) Oregon real estate license law and administrative rules as applied to property management activity.
2. (10%) Oregon Residential Landlord and Tenant Act, including tenantsand landlordsrights and obligations; evictions; forcible entry and detainer procedures.
3. (10%) Economics of property management, including analysis of markets, properties, and evaluating the owners objectives.
4. (05%) Leases, including leaseholds, types of leases and common lease clauses.
5. (10%) Agency relationship between property owner and property manager.
6. (05%) Tenant relations, including maintenance.
7. (20%) Management recordkeeping, including operating reports, budgets, income tax records, types of insurance.
8. (05%) Anti-discrimination statutes, federal and state, which apply to tenant selection and advertising; Fair Credit Reporting Act which applies to tenant selection.
Final examination: Minimum 20 questions
Real Estate Brokerage - 20 hours
Real Estate Brokerage is an introductory course with the primary goal of exposing the student to the statutory requirements for recordkeeping, and clientstrust account reconciliation, among other topics.
By the end of this course each student should know and, when applicable, be able to apply:
1. (10%) Advertising, including supervision of content, format and layout; public relations, image development, the internet and relations between competitors; office policy on private transactions of licensees; effect of disciplinary action on licensees.
2. (20%) Financial records such as general checking account and its use for payment of commissions, receipt of competitive market analysis fees; the clientstrust account, laws and regulations on its use, including documentation required, reconciliation, use of interest-bearing accounts, commingling of funds, the trust accounts use in cooperative transactions, earnest money, advance fees and rental fees.
3. (10%) Office facilities and the regulatory requirement for real estate offices including site selection, space and office layout, furniture and equipment; broker license requirements, and the real estate regulations affecting the office such as signs, requirements for branchy offices, limitations on licenses, effect of actions on licenses, and reporting of adverse litigation.
4. (15%) The laws rules and regulations regarding neutral escrows, and co-op transactions; the mathematics of a real estate closing, such as tax prorations, computing commission splits, and making closing estimates; closing procedures, such as title insurance, recording and acknowledgment of documents, etc.
5. (10%) Financial reports such as income statements, balance sheets, tax returns and payroll records.
6. (15%) Non-financial records such as listing files, transaction records, cooperative transaction records, advertising folders, showing reports, competitive market analysis records and reports, requirements of rules and regulations, such as management review of broker transactions.
7. (10%) Office manuals which set out office policy and procedures, use of the manual in training and to set out grievance procedures.
8. (10%) Office activity other than real estate sales; property management, competitive market analyses, investment counseling, construction and development, including supervisory requirements, as well as the nature of the activities in relation to real estate law and rules.
Final examination: Minimum 40 questions
Principal Real Estate Broker Courses
Brokerage Administration and Sales Supervision 40 hours
The goal of the Brokerage Administration and Sales Supervision course is to examine statutory requirements unique to principal brokers as well as review material introduced in entry level instruction.
By the end of this course each student should know and, when applicable, be able to apply:
1. (10%) Introduction to management theory, characteristics of successful management, the functions of management, organizational formats such as corporate, partnerships and proprietorships, various problems associated management, and types of licenses and their requirements.
2. (10%) Planning, including management of objectives, planning under the employer-employee relationship versus independent contractor relationship, individual and office planning, budget planning, market research, growth, and anticipation of expansion, and bottom line planning.
3. (15%) Selection, training and supervision of real estate personnel including job descriptions, recruiting, interviewing, characteristics of a successful salesperson; training in Oregon real estate laws, real estate documents; supervision of transactions, evaluations of performance, commission arrangements; major theories of human motivation, for example, those of Maslow, Herzberg and McClelland; also selection, training and evaluation of office support personnel.
4. (05%) Leadership, authority, discipline; office regulations, relationships between office personnel; office policy on private transactions of licensees; effect of disciplinary action on licensees.
5. (05%) Communication methods; formal versus informal; verbal versus non-verbal; reading, writing, listening, speaking; office sales meetings.
6. (05%) Advertising, including supervision of content, format and layout, public relations, image development, and relations between competitors.
7. (05%) Office facilities and the regulatory requirements for real estate offices including site selection, space and office layout, furniture and equipment; broker license requirements, and the real estate regulations affecting the office such as signs, requirements for branch offices, limitations on licenses, effect of actions on licenses, and reporting of adverse litigation.
8. (20%) Financial records such as general checking account and its use for payment of commissions, receipt of competitive market analysis fees; the clients trust account, laws and regulations on its use, including documentation required, use of interest-bearing accounts, commingling of funds, the trust accounts use in cooperative transactions, earnest money, advance fees and rental fees.
9. (05%) Financial reports such as income statements, balance sheets, tax returns and payroll records.
10. (05%) Non-financial records such as listing files, transaction records, cooperative transaction records, advertising folders, showing reports, competitive market analysis records and reports, requirements of rules and regulations, such as broker review of salesperson transactions.
11. (05%) Office manuals which set out office policy and procedures, use of the manual in training and to set out grievance procedures.
12. (05%) Office activity other than real estate sales; competitive market analyses, investment counseling, construction and development, including supervisory requirements, as well as the nature of the activities in relation to real estate law and rules.
13. (05%) Property management: Law, and rules and regulations on acco8unting and recordkeeping, Oregon Landlord-Tenant Law.
Final examination: Minimum 75 questions
Property Manager Courses
Property Manager - 60 hours
The instructional goal for the Property Manager course of study is to thoroughly expose the student to the field of property management and all its requisites including statute and rule requirements.
By the end of this course each student should know and, when applicable, be able to apply:
1. (30%) Oregon real estate license law and administrative rules as applied to property management activity.
2. (15%) Clientstrust accounts and reconciliation of accounts.
3. (10%) Oregon Residential Landlord and Tenant Act, including tenantsand landlordsrights and obligations; evictions; forcible entry and detainer procedures.
4. (05%) Economics of property management, including analysis of markets, properties, and evaluating the owners objectives.
5. (05%) Leases, including leaseholds, types of leases and common lease clauses.
6. (05%) Agency relationship between property owner and property manager and tenant relations, including maintenance.
7. (15%) Management recordkeeping, including operating reports, budgets, income tax records, types of insurance.
8. (05%) Anti-discrimination statutes, federal and state, which apply to tenant selection and advertising: Fair Credit Reporting Act which applies to tenant selection.
9. (10%) General real estate law as applied to property management activity, including types of estates and forms of ownership; transfer of title; taxes and assessments including the levy and collection process, foreclosure and redemption rights, exemptions and special assessments; and land use controls including private controls such as covenants, conditions and restrictions, and public controls such as planning and zoning.
Final examination: Minimum 100 questions
All persons licensed as salespersons prior to July 1, 2002 automatically became temporary associate brokers and have until July 1, 2005 in which to complete an Associate Broker Transition Course of Study. Persons licensed as brokers prior to July 1, 2002 need take no additional courses. Persons licensed as property managers prior to July 1, 2002 must take a Property Manager Transition Course of Study prior to July 1, 2004. The following are the course guidelines for the two transition courses.
Associate Broker Transition Course of Study 30 hours
The instructional goal for the Associate Broker Transition Course of Study is to train temporary associate brokers to assume their new responsibilities given them under Senate Bill 446 [effective July 1, 2002, eliminates salesperson license category].
Contracts - 6 hours
1. (60%) Basic contract law including the elements necessary to form a contract, breaches and interference with existing contracts.
2. (40%) Real estate contracts, especially required provisions and suggested language for listing agreements, earnest money/sale agreements, options, land sales contracts, leases and escrow agreements.
Agency - 6 hours
1. (50%) The common law of agency, including an in-depth study of the fiduciary requirements and its application to real estate brokerage.
2. (50%) Oregon Revised Statutes 696.800 et seq., generally. Emphasis is to be given to the affirmative requirements of an agent to clients and to others as set out in Oregon Revised Statutes 696.805 to 696.815.
Property Management - 6 hours
1. (25%) Oregon real estate license law and administrative rules as applied to property management activity, particularly trust accounts and trust account reconciliation.
2. (25%) Oregon Residential Landlord and Tenant Act, including tenantsand landlordsrights and obligations; evictions; forcible entry and detainer procedures.
3. (25%) Economics of property management, including analysis of markets, properties, and evaluating the owners objectives; management recordkeeping, including operating reports, budgets, income tax records, and types of insurance.
4. (25%) Leases, including leaseholds, types of leases and common lease clauses; tenant relations, including maintenance; anti-discrimination statutes, federal and state, which apply to tenant selection and advertising: Fair Credit Reporting Act which applies to tenant selection and advertising; and Fair Credit Reporting Act, which applies to tenant selection.
Brokerage - 6 hours
1. (35%) Office facilities and the regulatory requirements for real estate offices including site selection, space and office layout, furniture and equipment; broker license requirements, and the real estate regulations affecting the office such as signs, requirements for branch offices, limitations on licenses, effect of actions on licenses, and reporting of adverse litigation.
2. (35%) Advertising, including supervision of content, format and layout; public relations, image development, the internet and relations between competitors; office policy on private transactions of licensees; effect of disciplinary action on licensees; office manuals which set out office policy and procedures, use of the manual in training and to set out grievance procedures.
3. (30%) Financial reports such as income statements, balance sheets, tax returns and payroll records.
Trust Accounting - 6 hours
1. (50%) Financial records such as general checking account and its use for payment of commissions, receipt of competitive market analysis fees; the clientstrust account, laws and regulations on its use, including documentation required, reconciliation, use of interest-bearing accounts, commingling of funds, the trust accounts use in cooperative transactions, earnest money, advance fees and rental fees.
2. (15%) The laws rules and regulations regarding neutral escrows, and co-op transactions; the mathematics of a real estate closing, such as tax prorations, computing commission splits, and making closing estimates; closing procedures, such as title insurance, recording and acknowledgment of documents, etc.; non-financial records such as listing files, transaction records, cooperative transaction records, advertising folders, showing reports, competitive market analysis records and reports, requirements of rules and regulations, such as broker review of salesperson transactions.
3. (35%) Special requirements and limitations on contracts for the sale for subdivided lands, condominiums and planned developments under Oregon law.
Final examination: Minimum 60 questions, or if taught in segments, 15 questions per segment
Property Manager Transition Course of Study - 36 hours
The instructional goal for the Property Manager Transition Course of Study is to provide additional training in the areas of trust accounting, recordkeeping, and basic accounting, and the laws associated with those activities.
Trust Accounting - 12 hours
1. (75%) Clientstrust accounts, including use of interest-bearing accou8nts, and reconciliation of accounts.
2. (25%) Oregon real estate license law and administrative rules as applied to clientstrust accounting.
Recordkeeping - 12 hours
1. (45%) Operating reports, budgets, income tax records, and types of insurance.
2. (45%) Oregon real estate license law and administrative rules as applied to agreements (owner and tenant), ledgers (owner and tenant), cash receipts, check registers, computerized records, terminations and transfers.
3. (10%) Oregon real estate license law and administrative rules as applied to other financial practices, especially Oregon Administrative Rule 863-10-220.
Agency and Tenant Relations - 12 hours
1. (40%) Agency relationship between property owner and property manager.
2. (40%) Landlord-Tenant Act, anti-discrimination statutes (federal and state), and the Fair Credit Reporting Act.
3. (20%) Tenant relations, including maintenance.
Final examination: Minimum 75 questions, or if taught in segments, 25 questions per segment
The following course is required for new broker licensees before their first renewal.
Advanced Real Estate Practices - 30 hours
The instructional goal of the Advanced Real Estate Practices postlicense course is to broaden the licensee's knowledge of the practice of real estate beyond the entry level, with the course emphasis on current issues faced by real estate licensees.
1. (30%) Business ethics, including the fundamentals of moral judgment; the way in which ethical relationships with clients, between licensees in the same company, with supervising principal brokers, with employees, and with the community are developed and maintained and conflict resolution.
2. (10%) Current events: License law and administrative rule changes from the most recent legislation session; legislative changes affecting real estate.
3. (10%) Review of recent administrative actions issued by the real estate agency.
4. (15%) Property management; review of and enhanced discussion on the prelicense property management module.
5. (10%) The economics of business, including advanced discussion of the real estate industry, and the economics of the secondary mortgage market.
6. (10%) Advanced agency topics, including dual buyer agency.
7. (15%) Misrepresentation and negligence, including definitions, and review of Agency hearings decisions.
Final examination: Minimum 60 questions
License Exam Topic Outlines
The following guidelines are what you should concentrate on in order to prepare for the licensing exams. Note that the content and emphasis is close, but not exactly the same as the guidelines for the courses.
National Exam - 150 questions total
1. Real estate law - 30 questions
Forms of ownership; purchase and sale of real property; easements and encumbrances; nature of real property.
2. Real estate finance - 30 questions
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.
3. Real estate practice - 30 questions
Listing agreements; sale agreements, such as offers to purchase and seller's counteroffers; federal fair housing, and Americans with Disabilities Act
4. Real estate brokerage - 20 questions
Real estate closings, advertising, office manuals, financial reports
5. Real estate agency - 15 questions
Common law of agency, including fiduciary requirements
6. Real estate contracts - 15 questions
Basic contract law, required provisions for listing agreements, earnest money agreements, options and leases
7. Real estate property management - 10 questions
Economics of property management, leases, recordkeeping, and anti-discrimination statutes
Oregon (State) Exam - 50 questions total
1. License law, administrative rules and transaction documents - 30 questions
(ORS Chapter 696), administrative rules (OAR 863); earnest money receipts, listing agreements, closing statement, mathematical calculations of the listing agreement, of the earnest money agreement, and of the closing statement
2. Oregon real estate related statutes - 20 questions
Assessment and taxation of real property; Oregon Veterans Loan Program; Rectangular Survey System; Residential Landlord and Tenant Act (ORS 90.100 to 90.940); Subdivisions and Partitions (ORS 92.010 to 92.990); Oregon Condominium Act (ORS 100.005 to 100.990); Water Rights; Construction Lien Law (ORS 87.001 to 87.088); Discrimination Statute (ORS Chapter 659A); Oregon Homestead Statutes (ORS 23.270 to 23.300 and 311.666 to 311.696); Oregon Trust Deed Act (ORS 86.705 to 86.795); Title Insurance; Deed Forms; Oregon Land Use Law; Forms of Ownership
Property Manager Exam - 150 questions total
1. Real estate license law - 25 questions
License law as it applies to property managers
2. Clients' trust accounts - 25 questions
Requirements for clients' trust accounts and reconciliation of accounts
3. Real property law - 30 questions
Types of estates and forms of ownership; transfer of title; taxes and assessments; foreclosure and redemption rights; land use control
4. Economics, leases and agency - 25 questions
Economics of property management, types of leases and lease clauses, law of agency
5. Management recordkeeping and fair housing - 25 questions
Operating reports, budges, anti-discrimination statutes, federal and state
6. Oregon Residential Landlord and Tenant Act - 15 questions
Tenant and landlord rights and obligations under ORS Chapter 90.