Oregon Broker PSI Exam 2025 | Complete Real Estate
Practice Questions and Verified Answers – Latest
Update for Guaranteed Pass
common seller credits - ANSW✔-sale price of the property, prepaid taxes or utilities
Can a landlord choose the tenant they want to rent to? - ANSW✔-The refusal to rent cannot be based
on a protected class. The protected classes include race/color, religion, sex, physical or mental disability,
marital status, national origin, and familial status. All applicants must be given the same rental
requirements and judged by the same standards.
What are the protected classes related to housing? - ANSW✔-Race, color, national origin, religion, sex,
disability, and familial status. Additional state protected classes: domestic violence, marital status,
sexual orientation, source of income.
Source of Income - ANSW✔-While housing providers may make selection decisions based on the
applicant's level of income, they cannot refuse to rent, sell, or lend based on the source of income,
assuming the source is legal and ongoing. Examples include a) a landlord may not deny an applicant
because their source of income is a public assistance program, such as Social Security, Social Security
Disability, or Temporary Assistance for Needy Families (TANF); b) a landlord cannot reject an applicant
because they do not want to accept checks from a government or nonprofit agency such as the Oregon
Department of Human Services (DHS); or c) the landlord cannot reject an applicant solely because a
portion of their rent is being paid by a local housing authority in the form of a Section 8 voucher.
De-titled means - ANSW✔-the manufactured home is attached to the land so you can sell it as real
property.
"Real property" also includes - ANSW✔-a manufactured structure,owned by the same person who
owns the land upon which the manufactured structure is situated. "
"Real property" does not include - ANSW✔-a leasehold in real property
,"Real property" means - ANSW✔-any estate in real property, including a condominium, a timeshare
property and the granting of an option or right of first refusal
Can someone refuse to rent to families with children? - ANSW✔-No. The Fair Housing Amendments of
1988 added familial status as a protected class. Oregon law also prohibits discrimination on the basis of
familial status.
Familial status is defined as "one or more individuals who are not yet 18 years old, living with a parent or
custodian with the written permission of such parent or other person." It is unlawful to discriminate
against families because they have children. It is not unlawful to impose nondiscriminatory occupancy
limits such as the number of persons per bedroom.
How long can can a broker temporarily supervise due to the absence of a principal broker? - ANSW✔-
90 days, broker must have at least 3 years of experience
When can lots be sold under a binding contract? - ANSW✔-After a plan has been recorded
The period for continuous possession for Oregon is - ANSW✔-10 years
How long does a licensee have after a principal broker dies to transfer their license? - ANSW✔-30 days
before the license automatically becomes inactive
In Oregon, dual agency is known as - ANSW✔-Disclosed limited agency
Freehold - ANSW✔-Owned. Estate interests in real estate having unlimited duration; titled interests
Non-Freehold - ANSW✔-Type of interest in real estate with possession and use, but not ownership; a
rental or lease
Non-Freehold
Non-Owned
,Two Types of Freehold States - ANSW✔-1. Estates of inheritance, known as fees; and 2. Estates of non-
inheritance, known as life estates.
Fee Estate or Estate in Fee - ANSW✔-An Estate of Inheritance
Fee Estates in Oregon - ANSW✔-In Oregon, all fee estates are fee simple estates
Community Property & Oregon - ANSW✔-Oregon is not a community property state. In Oregon,
property owned separately, whether purchased before or during the marriage, can be sold by the
owning spouse without the other spouse's permission.
Superior Liens by Ranking - ANSW✔--Real property tax liens-Special assessment liens (Homeowners
associations, etc.)-Federal estate tax liens-State inheritance tax liens
Reconveyance Deed - ANSW✔-A reconveyance deed is used when a loan secured by a trust deed has
been paid. The trustee reconveys the title right of sale to the borrower. Because Oregon is a lien theory
state, meaning the trust deed buyer receives title at closing, the reconveyance deed does not transfer
actual legal title. Instead, the reconveyance deed removes the lien created against the real property by
the trust deed and terminates the trustee's power of sale.
Adverse Possession - ANSW✔-Adverse possession is a method by which a person who does not own a
property can acquire title by possessing it without the owner's permission.For the claim to be successful,
possession must be: actual, open, notorious, exclusive, hostile and continuous possession of the
property for 10 years.Tip: Remember this acronym: OCEAN-H for (O)pen, (C)ontinuous, (E)xclusive,
(A)ctual, (N)otorious - (H)ostile
lien-theory state - ANSW✔-a state in which a mortgagor retains title to the property when a mortgage
lien is created
How many acres are in a section? - ANSW✔-640 acres
In the Rectangular Survey System, a tier is defined by: - ANSW✔-two consecutive parallels
, What are the east-west rows of townships called? - ANSW✔-tiers
How long til they shut off water due to no use? - ANSW✔-5 consecutive years
Landowners with water flowing past, through or under their property - ANSW✔-don't automatically
have the right to use that water without a permit from the department
If individuals have a need for water, they must - ANSW✔-demonstrate their need for a beneficial use
of the water
How long to deposit a check? How soon do checks need to be deposited or given to seller that have
been held - ANSW✔-3 business days
How long to review & initial documents? When should a principal broker review a brokers document? -
ANSW✔-7 days. The principal broker must initial and date the document in writing at the time of
review
What needs to be included in an email ad? - ANSW✔-Business address
Who is a property managers fiduciary duties owed to? - ANSW✔-The owner.
who at an auction does not need a license? - ANSW✔-clerks
what happens if you are being investigated? - ANSW✔-not suspended-- make sure claim is valid.
what happens if someone files a complaint? - ANSW✔-they'll look into the complaint first.
what can you do w/ earnest money besides give it to the principal broker? - ANSW✔-Hold it until
closing.
Practice Questions and Verified Answers – Latest
Update for Guaranteed Pass
common seller credits - ANSW✔-sale price of the property, prepaid taxes or utilities
Can a landlord choose the tenant they want to rent to? - ANSW✔-The refusal to rent cannot be based
on a protected class. The protected classes include race/color, religion, sex, physical or mental disability,
marital status, national origin, and familial status. All applicants must be given the same rental
requirements and judged by the same standards.
What are the protected classes related to housing? - ANSW✔-Race, color, national origin, religion, sex,
disability, and familial status. Additional state protected classes: domestic violence, marital status,
sexual orientation, source of income.
Source of Income - ANSW✔-While housing providers may make selection decisions based on the
applicant's level of income, they cannot refuse to rent, sell, or lend based on the source of income,
assuming the source is legal and ongoing. Examples include a) a landlord may not deny an applicant
because their source of income is a public assistance program, such as Social Security, Social Security
Disability, or Temporary Assistance for Needy Families (TANF); b) a landlord cannot reject an applicant
because they do not want to accept checks from a government or nonprofit agency such as the Oregon
Department of Human Services (DHS); or c) the landlord cannot reject an applicant solely because a
portion of their rent is being paid by a local housing authority in the form of a Section 8 voucher.
De-titled means - ANSW✔-the manufactured home is attached to the land so you can sell it as real
property.
"Real property" also includes - ANSW✔-a manufactured structure,owned by the same person who
owns the land upon which the manufactured structure is situated. "
"Real property" does not include - ANSW✔-a leasehold in real property
,"Real property" means - ANSW✔-any estate in real property, including a condominium, a timeshare
property and the granting of an option or right of first refusal
Can someone refuse to rent to families with children? - ANSW✔-No. The Fair Housing Amendments of
1988 added familial status as a protected class. Oregon law also prohibits discrimination on the basis of
familial status.
Familial status is defined as "one or more individuals who are not yet 18 years old, living with a parent or
custodian with the written permission of such parent or other person." It is unlawful to discriminate
against families because they have children. It is not unlawful to impose nondiscriminatory occupancy
limits such as the number of persons per bedroom.
How long can can a broker temporarily supervise due to the absence of a principal broker? - ANSW✔-
90 days, broker must have at least 3 years of experience
When can lots be sold under a binding contract? - ANSW✔-After a plan has been recorded
The period for continuous possession for Oregon is - ANSW✔-10 years
How long does a licensee have after a principal broker dies to transfer their license? - ANSW✔-30 days
before the license automatically becomes inactive
In Oregon, dual agency is known as - ANSW✔-Disclosed limited agency
Freehold - ANSW✔-Owned. Estate interests in real estate having unlimited duration; titled interests
Non-Freehold - ANSW✔-Type of interest in real estate with possession and use, but not ownership; a
rental or lease
Non-Freehold
Non-Owned
,Two Types of Freehold States - ANSW✔-1. Estates of inheritance, known as fees; and 2. Estates of non-
inheritance, known as life estates.
Fee Estate or Estate in Fee - ANSW✔-An Estate of Inheritance
Fee Estates in Oregon - ANSW✔-In Oregon, all fee estates are fee simple estates
Community Property & Oregon - ANSW✔-Oregon is not a community property state. In Oregon,
property owned separately, whether purchased before or during the marriage, can be sold by the
owning spouse without the other spouse's permission.
Superior Liens by Ranking - ANSW✔--Real property tax liens-Special assessment liens (Homeowners
associations, etc.)-Federal estate tax liens-State inheritance tax liens
Reconveyance Deed - ANSW✔-A reconveyance deed is used when a loan secured by a trust deed has
been paid. The trustee reconveys the title right of sale to the borrower. Because Oregon is a lien theory
state, meaning the trust deed buyer receives title at closing, the reconveyance deed does not transfer
actual legal title. Instead, the reconveyance deed removes the lien created against the real property by
the trust deed and terminates the trustee's power of sale.
Adverse Possession - ANSW✔-Adverse possession is a method by which a person who does not own a
property can acquire title by possessing it without the owner's permission.For the claim to be successful,
possession must be: actual, open, notorious, exclusive, hostile and continuous possession of the
property for 10 years.Tip: Remember this acronym: OCEAN-H for (O)pen, (C)ontinuous, (E)xclusive,
(A)ctual, (N)otorious - (H)ostile
lien-theory state - ANSW✔-a state in which a mortgagor retains title to the property when a mortgage
lien is created
How many acres are in a section? - ANSW✔-640 acres
In the Rectangular Survey System, a tier is defined by: - ANSW✔-two consecutive parallels
, What are the east-west rows of townships called? - ANSW✔-tiers
How long til they shut off water due to no use? - ANSW✔-5 consecutive years
Landowners with water flowing past, through or under their property - ANSW✔-don't automatically
have the right to use that water without a permit from the department
If individuals have a need for water, they must - ANSW✔-demonstrate their need for a beneficial use
of the water
How long to deposit a check? How soon do checks need to be deposited or given to seller that have
been held - ANSW✔-3 business days
How long to review & initial documents? When should a principal broker review a brokers document? -
ANSW✔-7 days. The principal broker must initial and date the document in writing at the time of
review
What needs to be included in an email ad? - ANSW✔-Business address
Who is a property managers fiduciary duties owed to? - ANSW✔-The owner.
who at an auction does not need a license? - ANSW✔-clerks
what happens if you are being investigated? - ANSW✔-not suspended-- make sure claim is valid.
what happens if someone files a complaint? - ANSW✔-they'll look into the complaint first.
what can you do w/ earnest money besides give it to the principal broker? - ANSW✔-Hold it until
closing.
