Oregon Property & Casualty Exam Overview
Key Takeaways
- Oregon requires 40 hours of approved pre-licensing education for the dual P&C credential (20 hours Property + 20 hours Casualty).
- The PSI exam (Series 12-04) has 150 scored questions, a 160-minute limit, and requires a 70% scaled passing score.
- The PSI exam fee is $55 per attempt; license application via NIPR is $75 plus a $5.60 transaction fee.
- Oregon auto financial responsibility is 25/50/20 with mandatory PIP of $15,000 and UM/UIM that match liability limits.
- Renewal requires 24 CE hours every 2 years, including 3 ethics and 3 Oregon law hours, regulated by the Oregon Division of Financial Regulation (DFR).
About the Oregon P&C Exam
Welcome to OpenExamPrep's FREE Oregon Property & Casualty (P&C) insurance prep guide. The Oregon Property & Casualty producer examination is PSI Series 12-04, delivered by PSI Services LLC on behalf of the Oregon Division of Financial Regulation (DFR), a unit of the Department of Consumer and Business Services (DCBS). The DFR — not PSI — issues licenses, enforces the Oregon Insurance Code (ORS Chapters 731–752), and adopts administrative rules in OAR Chapter 836.
The dual P&C credential combines two lines of authority: Property (insuring physical assets such as homes, buildings, and contents) and Casualty (insuring legal liability — auto, general liability, and workers' compensation). You may sit a single combined exam covering both.
Exam Structure
| Component | Detail |
|---|---|
| Exam name | PSI Series 12-04 (Property & Casualty Producer) |
| Testing vendor | PSI Services LLC |
| Regulator | Oregon DFR (within DCBS) |
| Scored questions | 150 |
| Time limit | 160 minutes (2 hr 40 min) |
| Passing score | 70% |
| Delivery | PSI test center or remote online proctoring |
| Results | Pass/fail issued immediately on screen |
| Exam fee | $55 per attempt |
The 150 questions split roughly between a general/national portion (insurance principles, policy provisions, common P&C coverages) and an Oregon state-law portion (DFR authority, producer duties, Oregon-specific coverages). Plan your pacing at about one minute per question, leaving ~10 minutes to review flagged items.
Pre-Licensing Education
| Line | Required hours |
|---|---|
| Property | 20 hours |
| Casualty | 20 hours |
| Combined P&C total | 40 hours |
Education must come from a DFR-approved provider. Common trap: candidates assume the certificate never expires — confirm your provider's certificate validity and schedule the PSI exam promptly so the completion stays current under DFR rules.
Step-by-Step Licensing Process
- Complete 40 hours of DFR-approved pre-licensing education (20 Property + 20 Casualty).
- Register with PSI at psiexams.com, select Series 12-04, and pay the $55 fee.
- Pass the exam — 150 questions, 160 minutes, 70% required; results are immediate.
- Get fingerprinted through PSI ($61.25); prints are routed to Oregon State Police and the FBI.
- Apply via NIPR within one year of passing — $75 application fee plus a $5.60 transaction fee.
- DFR reviews your application and background check, then issues the license.
Accurate Cost Summary
| Item | Cost |
|---|---|
| Pre-license education (40 hrs) | $125–$350 |
| PSI exam fee | $55 |
| Fingerprinting (PSI) | $61.25 |
| NIPR application + transaction | $75 + $5.60 |
| Realistic total | ~$322–$547 |
Fee note: Watch for outdated study materials quoting a ~$170 application fee. The current Oregon resident producer fee filed through NIPR is $75 plus a $5.60 transaction fee — confirm the live amount on nipr.com before you pay.
Oregon Auto Insurance Rules
Oregon is a fault (tort) state but layers mandatory Personal Injury Protection (PIP) on top of liability — a frequent exam distractor.
| Coverage | Oregon minimum |
|---|---|
| Bodily Injury (per person) | $25,000 |
| Bodily Injury (per accident) | $50,000 |
| Property Damage | $20,000 |
| PIP (medical/wage) | $15,000 (mandatory) |
| Uninsured Motorist (UM/UIM) | Must equal liability limits |
| Shorthand | 25/50/20 |
Trap: Oregon PIP is required, unlike many tort states where it is optional. UM/UIM is mandatory and tracks your bodily-injury limits unless the insured rejects higher limits in writing.
Oregon-Specific Coverages
- Oregon FAIR Plan — the state-mandated insurer of last resort that writes basic property coverage (fire, lightning, internal explosion, windstorm, and hail) for owners who cannot obtain it in the voluntary market. It is access of last resort, so coverage is limited and premiums are typically higher than standard market rates; producers must document a good-faith effort to place the risk normally first.
- Earthquake — Oregon sits over the Cascadia Subduction Zone; quake coverage is sold as a separate endorsement or stand-alone policy with a percentage deductible (commonly 10–20% of the dwelling's insured value), never a flat dollar amount, and it is excluded from the standard homeowners form.
- Wildfire — DFR rules restrict nonrenewal or cancellation based on wildfire-risk scoring and require insurers to disclose the risk models and mitigation discounts used.
Continuing Education & Renewal
| Requirement | Detail |
|---|---|
| Total CE | 24 hours every 2-year term |
| Ethics | 3 hours (within the 24) |
| Oregon law | 3 hours (within the 24) |
| NFIP Flood | One-time 3-hour course before selling flood policies |
Key Numbers to Memorize
| Topic | Value |
|---|---|
| Pre-license hours | 40 (20 + 20) |
| Exam questions / time | 150 / 160 min |
| Passing score | 70% |
| Exam fee | $55 |
| Fingerprinting | $61.25 |
| NIPR application | $75 + $5.60 |
| Apply within | 1 year of passing |
| Auto limits | 25/50/20 |
| Mandatory PIP | $15,000 |
| CE | 24 hrs / 2 yrs (3 ethics + 3 OR law) |
What does the Oregon P&C producer exam (PSI Series 12-04) require to pass?
Which statement about Oregon auto insurance is correct?
What is the cost to apply for an Oregon resident producer license through NIPR?
How many continuing education hours must an Oregon P&C producer complete each renewal term, and what is included?
Why is earthquake coverage emphasized for Oregon property policies?