Or. Admin. R. 863-022-0010

Current through Register Vol. 63, No. 6, June 1, 2024

Section 863-022-0010 - Course Requirements for Real Estate Broker License Applicants

(1) The real estate broker license applicant course of study required by OAR 863-014-0035 must include 150 clock-hours in the seven courses listed in section (2) of this rule.

(a) Courses offered by private career schools must be approved by the Agency under OAR 863-022-0030.

(b) Courses offered by in-state community colleges, colleges, and universities must be approved by the Agency under OAR 863-022-0035.

(c) To be eligible for credit, a course provider must:

(A) Present each course for the designated number of clock- hours stated in section (2) of this rule,

(B) Include specific course topics required by the Agency as provided in section (3) of this rule, and

(C) Give each student a final examination for each course consisting of the number of questions stated in section (2) of this rule.

(2) The courses required for real estate broker license applicants are:

(a) Real Estate Law: 30 clock-hours and 60 questions on a final examination.

(b) Oregon Real Estate Practice: 30 clock-hours and 60 questions on a final examination.

(c) Real Estate Finance: 30 clock-hours and 60 questions on a final examination.

(d) Contracts: 15 clock-hours and 30 questions on a final examination.

(e) Agency Law: 15 clock-hours and 30 questions on a final examination.

(f) Property Management: 10 clock-hours and 20 questions on a final examination.

(g) Real Estate Brokerage: 20 clock-hours and 40 questions on a final examination.

(3) An applicant must complete the required courses through Agency-approved private career schools or in-state community colleges, colleges, or universities, as those terms are defined in OAR 863-022-0005.

(4) To receive credit for courses provided by private career schools, license applicants must complete the course of study and receive a passing score of at least 75% on a final examination for each course.

(5) To receive credit for courses provided by in-state community colleges, colleges, and universities, license applicants must complete the course of study, including a final examination for each course and achieve a minimum grade of "C" or equivalent.

(6) The real estate broker license applicant course of study is not eligible for continuing education credit under OAR 863-020-0010.

Or. Admin. R. 863-022-0010

REA 1-2010, f. 6-14-10, cert. ef. 7-1-10; REA 3-2011(Temp), f. & cert. ef. 6-22-11 thru 12-1-11; REA 6-2011, f. 8-15-11, cert. ef. 9-1-11; REA 7-2011, f. & cert. ef. 11-15-11; REA 1-2012(Temp), f. 8-14-12, cert. ef. 8-15-12 thru 2-1-13; REA 1-2013, f. 1-14-13, cert. ef. 2-1-13

Stat. Auth.: ORS 696.385

Stats. Implemented: ORS 696.174, 696.182, & 696.184