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200+ Free OR MLO Practice Questions

Pass your Oregon Mortgage Loan Originator Exam exam on the first try — instant access, no signup required.

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2026 Statistics

Key Facts: OR MLO Exam

75%

Passing Score

NMLS

55 Q

State Exam Questions

NMLS UST

120 days

Foreclosure Notice Period

Trust Deed Act

$25,000

Surety Bond Minimum

Oregon

The Oregon MLO state exam covers Oregon-specific mortgage laws administered by the Division of Financial Regulation. Combined with the national NMLS SAFE exam, candidates must pass both components to originate mortgages in Oregon. Oregon primarily uses non-judicial foreclosure through the Trust Deed Act, features no post-sale redemption period, and has anti-deficiency protections. The Foreclosure Avoidance Program requires resolution conferences for owner-occupied properties.

Sample OR MLO Practice Questions

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

1What is the primary regulatory agency overseeing mortgage loan originators in Oregon?
A.Oregon Real Estate Agency
B.Oregon Division of Financial Regulation
C.Oregon Department of Consumer Affairs
D.Oregon Banking Commission
Explanation: The Oregon Division of Financial Regulation (DFR) is the primary state agency responsible for regulating and licensing mortgage loan originators in Oregon. The DFR enforces state mortgage lending laws and oversees the MLO licensing process through NMLS.
2How many hours of NMLS-approved pre-license education must an Oregon MLO candidate complete?
A.16 hours
B.20 hours
C.24 hours
D.30 hours
Explanation: Oregon MLO candidates must complete 20 hours of NMLS-approved pre-license education before taking the licensing exam. This includes the standard SAFE Act curriculum covering federal law, ethics, nontraditional lending, and an elective.
3Oregon is primarily classified as what type of foreclosure state?
A.Judicial foreclosure only
B.Non-judicial foreclosure (trust deed)
C.Both equally common
D.No foreclosure is permitted
Explanation: Oregon is primarily a non-judicial foreclosure state using the trust deed process. The Oregon Trust Deed Act governs most residential foreclosures, allowing the trustee to sell the property without court involvement when the borrower defaults on a trust deed. Judicial foreclosure is also available but less commonly used.
4What governs Oregon's non-judicial foreclosure process?
A.The Oregon Civil Code
B.The Oregon Trust Deed Act
C.The Oregon Mortgage Code
D.Federal bankruptcy law
Explanation: The Oregon Trust Deed Act governs non-judicial foreclosure in Oregon. This statute establishes the procedures for foreclosing on trust deeds, including notice requirements, publication requirements, sale procedures, and borrower protections. The Act provides the legal framework for the power of sale process.
5What is the minimum surety bond requirement for an Oregon mortgage loan originator?
A.$10,000
B.$25,000
C.$50,000
D.$100,000
Explanation: Oregon requires mortgage loan originators to maintain a minimum surety bond of $25,000. This bond protects consumers by providing a financial guarantee against losses caused by the MLO's failure to comply with state laws. The bond amount may be higher based on loan volume.
6What continuing education is required annually for Oregon MLOs?
A.4 hours
B.8 hours including 2 hours of ethics
C.12 hours
D.16 hours
Explanation: Oregon MLOs must complete 8 hours of NMLS-approved continuing education annually, including at least 2 hours of ethics. The remaining hours cover federal law updates, nontraditional lending, and elective topics.
7Under the Oregon Trust Deed Act, what is the required notice period before a non-judicial foreclosure sale?
A.30 days
B.60 days
C.90 days
D.120 days
Explanation: Under the Oregon Trust Deed Act, the trustee must provide at least 120 days' notice before conducting a non-judicial foreclosure sale. This extended notice period was established by the Oregon Foreclosure Avoidance Program and gives borrowers significant time to explore alternatives such as loan modification, short sale, or deed in lieu of foreclosure.
8What background check requirement applies to Oregon MLO applicants?
A.Only a state check
B.FBI criminal background check through fingerprinting
C.Only a credit review
D.No background check required
Explanation: Oregon MLO applicants must undergo an FBI criminal background check through fingerprinting as required by the SAFE Act. This nationwide criminal history check is processed through NMLS and helps prevent individuals with disqualifying backgrounds from becoming licensed MLOs.
9Under Oregon law, does the borrower have a right of redemption after a non-judicial foreclosure sale?
A.Yes, a 1-year redemption period
B.Yes, a 6-month redemption period
C.No, Oregon does not provide a statutory right of redemption after a trust deed sale
D.Yes, a 30-day redemption period
Explanation: Oregon does not provide a statutory right of redemption after a non-judicial foreclosure sale conducted under the Trust Deed Act. Once the trustee's sale is complete, the property is transferred to the purchaser without a post-sale redemption period. This is a significant distinction from states that offer redemption rights.
10What enforcement actions can the Oregon Division of Financial Regulation take against a non-compliant MLO?
A.Only warnings
B.License revocation, suspension, denial, and monetary penalties
C.Only additional education requirements
D.Referral to federal authorities only
Explanation: The Oregon DFR has broad enforcement authority including the power to revoke, suspend, or deny MLO licenses and impose monetary penalties. The DFR can also issue cease and desist orders and take other administrative actions to protect Oregon consumers from non-compliant MLOs.

About the OR MLO Exam

The Oregon MLO state exam tests knowledge of Oregon-specific mortgage laws, licensing requirements, and consumer protection regulations. This exam is taken alongside the national NMLS SAFE exam component.

Questions

55 scored questions

Time Limit

1 hour 30 minutes

Passing Score

75%

Exam Fee

$110 (Oregon Division of Financial Regulation (DFR))

OR MLO Exam Content Outline

25%

Oregon Licensing Requirements

State-specific education, renewal, surety bond, and licensing requirements

25%

Oregon Mortgage Law

Trust Deed Act, usury laws, trust accounts, and lending regulations

20%

Consumer Protection

State disclosure requirements, borrower rights, fair lending, UTPA

15%

Regulatory Authority

DFR oversight, enforcement actions, examination authority, and compliance

15%

Foreclosure Procedures

Oregon Trust Deed Act foreclosure, Foreclosure Avoidance Program, and timelines

How to Pass the OR MLO Exam

What You Need to Know

  • Passing score: 75%
  • Exam length: 55 questions
  • Time limit: 1 hour 30 minutes
  • Exam fee: $110

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 MLO Study Tips from Top Performers

1Master the Oregon Trust Deed Act including the 120-day notice requirement and non-judicial sale process
2Study the Foreclosure Avoidance Program and mandatory resolution conference requirements
3Know that Oregon has no post-sale redemption period and has anti-deficiency protections for non-judicial foreclosure
4Review Oregon's broader protected classes including sexual orientation and gender identity in fair lending
5Understand the Unlawful Trade Practices Act and its application to mortgage lending

Frequently Asked Questions

What is the Oregon MLO exam?

The Oregon MLO exam is the state-specific component of the NMLS licensing test. It covers Oregon mortgage laws, licensing requirements administered by the Division of Financial Regulation, and state consumer protection regulations. You must pass both this state exam and the national SAFE exam.

How many questions are on the Oregon MLO state exam?

The Oregon MLO state exam has 55 questions with a 1 hour 30 minute time limit. You need 75% (approximately 41 correct) to pass. The exam is administered through NMLS at Prometric testing centers.

What Oregon-specific topics should I study?

Focus on the Oregon Trust Deed Act and non-judicial foreclosure process, the Foreclosure Avoidance Program, anti-deficiency protections, DFR enforcement authority, Oregon's broader protected classes in fair lending, and the UTPA's application to mortgage lending.

What are the Oregon MLO license requirements?

Oregon requires 20 hours of NMLS-approved pre-license education including 3 hours of Oregon-specific content, passing scores on both the national and state exams, FBI fingerprint background check, a minimum surety bond of $25,000, and license application through NMLS. Renewal requires 8 hours of annual continuing education.