10 exam-style questions with answers and explanations, straight from our 1,030-question bank. Tap an answer to check yourself. When you're ready, take the scored version in the free practice test.
The ORPB exam has 125 questions and runs 4 hours.
These 10 free ORPB questions are organized by exam domain, so you can see how each part of the Oregon Real Estate Principal Broker Exam blueprint is tested. Reveal the answer and explanation under each question.
An eight-unit property has annual potential gross income of $240,000, a 5% vacancy and collection allowance, $6,000 in laundry income, $84,000 in operating expenses, and $36,000 in annual debt service. Using an 8% capitalization rate, what value indication is produced by direct capitalization?
Correct answer: C - $1,875,000
A buyer contracts to purchase a home for $510,000. The appraisal is $500,000, and the requested conventional loan is $405,000. For purchase underwriting, the lender uses the lower of the price or appraised value. For underwriting purposes, this produces:
Correct answer: A - The LTV is 81%, so borrower-paid PMI would commonly be required
Forty minutes before closing, a buyer receives an email that appears to be from escrow, changes the destination bank, and demands an immediate wire. The sender's display name and logo are accurate, but the account number is new. The principal broker's first instruction should be to:
Correct answer: B - Tell the buyer not to transmit and verify the instructions through a known, trusted phone number
A buyer's offer expires Friday at 5:00 p.m. On Thursday, the seller signs and delivers a counteroffer at a higher price. The buyer rejects that counteroffer Friday morning. At 2:00 p.m. Friday, the seller signs the buyer's original offer and sends it back unchanged. What is the legal effect?
Correct answer: D - The counteroffer terminated the original offer; the seller's later signature is a new offer requiring buyer acceptance
An owner privately revokes a property manager's authority to sign leases but leaves the manager as the public leasing contact and gives no notice to prospects. The owner had repeatedly told tenants that the manager handled all leasing. The manager then signs a lease with a prospect who reasonably lacks notice of the revocation. Which doctrine most directly supports the prospect?
Correct answer: A - Apparent authority, because the owner's manifestations created a reasonable belief in authority
For the same statement date, an Oregon client trust account shows an adjusted bank balance of $62,480 and a book balance of $62,480, while the sum of positive owner ledgers is $61,930. No reconciling item explains the difference. The reconciliation is:
Correct answer: A - Incomplete; investigate the $550 difference before any unsupported disbursement
Broker A lists a seller's property. Broker B, associated with the same Oregon registered business name and the same managing principal broker, represents the buyer. Required written agency agreements and consents are in place. Which agency structure applies?
Correct answer: D - A and B remain single-party agents; the shared supervising or managing principal broker is the disclosed limited agent
In August 2026, an approved Oregon real estate team uses the name 'North Valley Realty Team.' Its advertisements make the registered business name immediately noticeable and do not imply a separate company. The principal broker wants all advertising stopped solely because the team name contains 'Realty.' The correct 2026 treatment is to:
Correct answer: C - Allow the advertisements to continue if otherwise compliant; the name restriction begins July 1, 2027
At 10:30 p.m., a tenant reports electrical arcing at the service panel and a smoke odor. The owner is unreachable, and the management agreement authorizes emergency repairs despite the routine spending limit. What should the manager do?
Correct answer: D - Protect the occupants, contact emergency services and a qualified electrician, document the response, and notify the owner promptly
During an Oregon listing, the seller reveals that a prior occupant died naturally in the home and that a certified laboratory found unresolved methamphetamine contamination. The seller directs the Broker not to mention either fact. The legally significant distinction is:
Correct answer: B - The death is generally a nonmaterial stigma; the meth contamination is a physical condition requiring disclosure and qualified assessment
The ORPB exam also covers these domains. Drill them in the full free practice test:
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