200+ Free OR Life & Health Practice Questions

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Question 1

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Which Oregon agency regulates insurance producers and insurers for life and health licensing?

Oregon Department of Insurance Licensing

Oregon Division of Financial Regulation (DFR)

Oregon Insurance Commission

Oregon Department of Consumer Insurance Affairs

to track

2026 Statistics

Key Facts: OR Life & Health Exam

150

Scored Questions

Oregon PSI 12-03 content outline

160 min

Exam Time

Oregon PSI 12-03 content outline

70%

Passing Score

Oregon candidate bulletin

$55

Exam Fee

Oregon candidate bulletin fee table

$75 + processing

Application + NIPR

Oregon DFR fees page

$61.25

Fingerprint Processing

Oregon DFR producer licensing guidance

24 / 3 / 3

CE Total / Ethics / OR Law

Oregon DFR CE requirements

Oregon Series 12-03 is listed at 150 scored questions with a 160-minute time limit, 70% passing score, and $55 exam fee. Oregon resident licensing also includes a $75 application fee, an additional NIPR processing fee, and $61.25 fingerprint processing cost. Oregon CE is 24 hours every 2 years, including 3 hours ethics and 3 hours Oregon law/rules.

Sample OR Life & Health Practice Questions

Try these sample questions to test your OR Life & Health exam readiness. Each question includes a detailed explanation. Start the interactive quiz above for the full 200+ question experience with AI tutoring.

1Which Oregon agency regulates insurance producers and insurers for life and health licensing?

A.Oregon Department of Insurance Licensing

B.Oregon Division of Financial Regulation (DFR)

C.Oregon Insurance Commission

D.Oregon Department of Consumer Insurance Affairs

Explanation: The Oregon Division of Financial Regulation, within DCBS, is the primary regulator for producer licensing and insurer oversight. Exam candidates should associate DFR with licensing, enforcement, and consumer-protection duties.

2Oregon insurance statutes are primarily codified in which ORS chapter range?

A.ORS 300-399

B.ORS 600-699

C.ORS 731-746

D.ORS 810-825

Explanation: Oregon insurance law is primarily contained in ORS Chapters 731 through 746. The PSI law outline repeatedly points candidates to this range for producer law, policy rules, and trade-practice standards.

3What exam series code is used for Oregon Life and Health (Includes Law)?

A.12-01

B.12-02

C.12-03

D.12-10

Explanation: The Oregon candidate bulletin identifies the combined Life and Health producer exam as Series 12-03. Series 12-01 and 12-02 are single-line exams, while 12-10 is a different exam series listing.

4How many scored questions are on Oregon Series 12-03 according to the official content outline?

A.125 scored questions

B.135 scored questions

C.140 scored questions

D.150 scored questions

Explanation: The PSI content outline for Oregon Series 12-03 lists 150 scored questions. This weighting drives why candidates should study both national life/health content and Oregon law topics.

5What is the official time limit for Oregon Series 12-03?

A.2 hours

B.2 hours and 40 minutes

C.3 hours

D.3 hours and 30 minutes

Explanation: The official Oregon 12-03 outline sets the exam time at 2 hours and 40 minutes. With 150 scored questions, pacing discipline is an important exam-day skill.

6What minimum score is required to pass Oregon insurance producer licensing exams?

A.65%

B.68%

C.70%

D.75%

Explanation: The Oregon candidate bulletin states that insurance producer exams use a 70% passing score. Candidates should target practice scores above 70% to create a margin for test-day variation.

7How much prelicensing education is required for a candidate seeking Oregon combined Life and Health authority?

A.20 hours total

B.40 hours total (20 Life + 20 Health)

C.60 hours total (30 Life + 30 Health)

D.No prelicensing education is required

Explanation: Oregon requires 20 hours for each major line, so a combined Life and Health candidate must complete 40 total hours. These courses must be completed through approved providers before testing.

8What exam reservation fee does Oregon list for producer licensing exams such as Series 12-03?

A.$45

B.$55

C.$65

D.$75

Explanation: The Oregon PSI bulletin lists a $55 exam fee for producer licensing exams. This fee is separate from license application, transaction, and fingerprinting costs.

9After passing the Oregon exam, within what period must a candidate apply for the producer license?

A.Within 90 days

B.Within 6 months

C.Within 1 year

D.Within 2 years

Explanation: Oregon requires applicants to apply within one year after passing the exam. Waiting too long can force a candidate to retest and repeat licensing steps.

10Which statement best matches Oregon resident producer initial application fee guidance?

A.$75 online at NIPR, with an additional processing fee

B.$55 with no additional processing fee

C.$45 if filed online and $75 if filed by paper

D.$90 online for all resident producer applicants

Explanation: Oregon's published fee table lists a $75 initial application fee and states that a processing fee is additional. The state page does not present that processing amount as a fixed statewide number. Candidates should separate this application cost from the exam and fingerprinting fees.

About the OR Life & Health Exam

Oregon Series 12-03 combines national life and health insurance fundamentals with Oregon-specific producer law, annuity best-interest standards, Medicare supplement rules, and long-term care training requirements.

Questions

150 scored questions

Time Limit

2 hours 40 minutes (160 minutes)

Passing Score

70%

Exam Fee

$55 (Oregon Division of Financial Regulation (DFR) / PSI)

OR Life & Health Exam Content Outline

10%

Regulation, Federal, and General Concepts

Insurance regulation (4%), federal laws (2%), and general insurance concepts (4%) including Oregon producer compliance duties

26%

Life Foundations and Policy Types

Life/A&H basics (13%) plus life policy types (13%) including ownership, beneficiaries, and policy-class distinctions

22%

Life Provisions, Annuities, and Tax

Life provisions/riders (7%), annuities (11%), and federal tax treatment (4%) with Oregon annuity best-interest context

Individual Health and Disability

Individual A&H policy provisions (5%) and disability income concepts (3%)

22%

Medical and Group Health

Medical plans (8%) and group health insurance (14%), including continuation and employer-plan concepts

12%

Senior and Specialized Health

Specialized health insurance for qualified individuals (12%), including Medicare supplement and LTC compliance priorities

How to Pass the OR Life & Health Exam

What You Need to Know

Passing score: 70%
Exam length: 150 questions
Time limit: 2 hours 40 minutes (160 minutes)
Exam fee: $55

Keys to Passing

Complete 500+ practice questions
Score 80%+ consistently before scheduling
Focus on highest-weighted sections
Use our AI tutor for tough concepts

OR Life & Health Study Tips from Top Performers

1Memorize Oregon exam logistics first: 150 scored questions, 160 minutes, 70% passing score, and $55 fee

2Use the official outline weights to prioritize study time, especially life basics/policy types, annuities, and group health

3Drill Oregon producer-law details: licensing windows, CE cycle rules, reporting obligations, and unfair-practice boundaries

4Practice annuity recommendations using best-interest and consumer-profile analysis, not product-first sales logic

5Run timed mixed sets and review misses by Oregon domain and statute theme before full-length simulations

Frequently Asked Questions

How many questions are on Oregon Series 12-03 and how long is the exam?

The official Oregon PSI content outline lists 150 scored questions with a 160-minute time limit (2 hours 40 minutes).

What passing score and exam fee apply in Oregon?

Oregon producer exams use a 70% passing standard, and the current PSI bulletin lists a $55 exam fee for Series 12-03.

What prelicense education does Oregon require for combined Life and Health authority?

Oregon requires 20 hours for Life and 20 hours for Health, for 40 total hours before taking the combined exam.

What are Oregon's core CE requirements after licensing?

Oregon resident producers complete 24 CE hours every 2 years, including 3 hours ethics and 3 hours Oregon law and administrative rules.

What Oregon-specific compliance topics are heavily tested?

Expect Oregon-focused questions on DFR licensing rules, replacement and unfair-practice standards, annuity best-interest requirements, Medicare supplement regulation, and long-term care training obligations.