(OnlineEd – Portland, OR) – The Oregon Real Estate Agency requires broker, principal broker, and property manager licensee’s who have been inactive for two consecutive years preceding their request to reactivate their license to pass a reactivation exam.
All reactivation exams consists of 48 multiple-choice questions. A score of 75% (36 correctly answered questions) is required to pass. The following are major content areas and the approximate percentage of questions that will be included from each area:
For Real Estate Broker and Principal Broker Reactivation
- General Real Estate Law (23%) – Questions will cover: agency relationships; contracts, including listing, earnest money, and option agreements; nature of real property; forms of ownership.
- Real Estate Finance (19%) – Questions from this section will include: government lending laws; financing instruments such as mortgages, trust deeds, and land sales contracts; government financing programs; conventional financing; foreclosure; exchangine’ appraisal of real property.
- Special Fields (6%) – The applicant will be tested on such topics as: local, state and federal government land rights; Federal Fair Housing law; property management.
- License Laws (31%) – Questions in this area will cover ORS 696 and Oregon Administrative Rules 863-15.
- Control Laws (21%) – The questions from this section will include: assessment and taxation of real property; Oregon Vetrans’ Farm and Home Loan Program; Residential Landlord and Tenant Law (ORS 90); Subdivisions and Partitions (ORS 92); Condominium Act (ORS 100); Oregon Water Rights; construction lien law (ORS 87); Oregon discrimination statute (ORS 659); Oregon Trust Deed Act (ORS 86; deed forms.
- Real Estate License Law and Rules (35%) – Questions in this area include: License Law and Administrative Rules as they apply to property managers, in particular, recordkeeping, clients’ trust accounts and reconciliation.
- Residential Landlord and Tenant Act (25%) – Questions in this area cover: rights and obligations of landlords and tenants; evicitons; forcible entry and detainer procedures; anti-discrimination statutes, federal and state; Fair Credit Reporting Act as applied to tenant selection.
- Basic Real Property Law (10%) – Questions will consist of: types of estates and forms of ownership; nature of real property versus personal property’ fixtures, emblements and water rights.
- Real Estate Contracts (10%) – Questions cover; property management agreements; rental agreements and leases.
- Agency Relationships (10%) – Questions in this section are about: Law of agency and how it affects the relationship between property manager and owner.
- Transfer of Title (5%) – Questions include: Voluntary and involuntary transfers; encumbrances, including easements and liens; ways to legally describe real property.
- Types of Leases (5%) – Questions will be about: Common lease clauses and types of leases.
Jeff Sorg is a co-founder of OnlineEd®, an online real estate, mortgage broker, and vocational school founded in 1997, where he also serves as Chief Executive Officer, and School Director. Sorg holds vocational and post-secondary school instructor licenses in several states and has authored numerous real estate continuing education and pre-licensing courses and has been awarded the International Distance Education Certification Center’s CDEi Designation for distance education. Memberships include ARELLO (Association of Real Estate License Law Officials), the National Association of REALTORS®, Oregon Association of REALTORS®, and Portland Metro Association of REALTORS®. Awards and service include REALTOR® Emeritus in the National Association, Life Member award in Portland Metro Association and Chairperson of the Oregon Real Estate Forms Committee.
OnlineEd® provides real estate, mortgage broker, insurance, and contractor pre-license, post-license, continuing education, career enhancement, and professional development and designation courses over the Internet.