Oregon License Requirements

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Oregon Mortgage License Requirements

Learn about the Oregon mortgage education requirements for mortgage licensing.

In the state of Oregon, mortgage loan originators are required to:

    1.  Complete a Criminal Background Check (CBC)
    2. Authorize a credit report through the NMLS.
    3. Fulfill all state and federal education requirements as designated by your state agency.
    4. Take and pass the National Component.
    5. Bond amount: Covered by sponsor’s bond. If sponsor doesn’t have bond, MLO must provide bond between $50,000 and $200,000.

Oregon NMLS Pre-Licensing Education Requirements:

New state-licensed MLOs are required to complete 20 hours of NMLS-approved education. This includes:

  • 3 hours of federal law
  • 3 hours of ethics
  • 2 hours of non-traditional mortgage lending
  • 8 hours of electives
  • 4 hours of Oregon state-specific education

NOTE:  PE education must be completed within 3 years of new or subsequent license application

 

Oregon Continuing Education Requirements:

State-licensed MLOs are required to complete 10 hours of NMLS-approved mortgage education annually beginning the year they are licensed (unless PE was completed in the same year). This includes:

  • 3 hours of federal law
  • 2 hours of ethics
  • 2 hours of non-traditional mortgage lending
  • 1 hour of electives
  • 2 hours of Oregon state-specific education

MLOs are advised that to comply with the SAFE Act’s “successive years” rule, they may not take the same CE course two years in a row.

Oregon Mortgage Licensing: 

NMLS Resources:

 

Oregon Insurance License Requirements

Learn about the Oregon insurance education requirements for insurance licensing.

To obtain an insurance license in Oregon, you must satisfy these requirements:

  1. Complete the education requirements. You must complete your education hours through a state-approved school, like OnCourse Learning. The hours of education required per line of authority are:
    • Life Insurance: 20 hours
    • Health Insurance: 20 hours
    • Property Insurance: 20 hours
    • Casualty Insurance: 20 hours
    • Personal Lines Insurance: 20 hours

Most commonly, students enroll in 40 hours of education for a Life & Health (L&H) license or 40 hours for a Property & Casualty (P&C) license. Upon finishing the coursework, you’ll receive a course completion certificate which is valid for one year.

  1.  Schedule and pass the required examination. You must pass the exam with a minimum score of 70%.
  2. Have fingerprints taken digitally at the test center.
  3. Submit the insurance license application. The license application may be submitted only upon passing the required examinations for each line of insurance you are applying for. To submit the license application, apply online at the National Insurance Producer Registry website. You may submit an application in paper form but paper submissions take significantly longer to process than electronic submissions.
  4. Submit the Criminal Records Request form.
  5. Maintain a place of business and/or live in Oregon.

If you are an insurance agent licensed in another state, you need to:

  1. Request an original letter of clearance from the regulatory agency of the state in which you are actively licensed.
  2. Find out if you are eligible for a waiver of the prelicensing and/or exam requirements by contacting the DCBS staff.
  3. Submit the insurance license application. The license application may be submitted only upon passing the required examinations for each line of insurance you are applying for. To submit the license application, apply online at the National Insurance Producer Registry website. You may submit an application in paper form but paper submissions take significantly longer to process than electronic submissions.
  4. Submit the Criminal Records Request form.

Oregon Insurance State Exam Information:

Oregon insurance license applicants must pass a computerized license examination administered by PSI, a national testing firm. To schedule an exam date and time, you can call them toll-free at (800) 733-9267 or visit their website. You are encouraged to reserve your exam date at least three or four business days prior. To schedule an exam, PSI will require the following:

  • Personal information – legal name, address, phone, SSN, date of birth
  • Exam specifics – exam type, preferred date and test center location
  • School code – a 4-digit code on your course certificate of completion
  • Failing score report (if retaking an exam)
  • Exam fees paid in full

For more information, click here to visit PSI's website to access the PSI License Bulletin, which includes details of all licensing requirements, exam reservation guidelines, and a list of all PSI test center locations and hours of operation.

Upon arriving at the test center, you’ll need to show two pieces of ID (one photo-bearing) and course completion certificates to the test administrator. Then a brief online tutorial will familiarize you with the computerized testing system before you answer a series of multiple-choice questions.

If taken separately, the Life exam and the Health exam have 100 questions each. The Life and Health combined exam has 150 questions. The combined Property and Casualty exam has 150 questions. If taken separately, they have 100 questions each.

You will have plenty of time to complete the exam. The amount of time depends on how many exams you’re taking at a single sitting. If you take exams separately, you have 2 hours; if you take combined exams, you have 2-1/2 hours. Be sure to attempt to answer every question. A minimum score of 70% is required to pass all insurance exams. Your score will be available immediately. A passing score is valid for one year.

Oregon Insurance Licensing FAQs:

 

  • Is OnCourse Learning’s program approved to satisfy the education requirements needed to become licensed as an Oregon Insurance Agent? OnCourse Learning’s Oregon Insurance programs are approved by the Oregon Insurance Division to satisfy the education requirements to be licensed as an Oregon Insurance Agent.
  • What do OnCourse Learning’s Oregon Insurance programs include? OnCourse Learning’s Oregon Insurance programs include printable lessons, multi-media reviews, interactive exercises, quizzes and comprehensive exams. All the tools you need to prepare for the state exam are included! 
  • Do I need to enroll in an exam prep course to prepare for my Oregon Insurance Agent licensing exam? OnCourse Learning’s Oregon Insurance programs include everything you need to pass your state licensing exam.
  • Once I enroll, when can I start studying for my Oregon Insurance Agent license? Upon enrolling, you will have immediate access to your coursework. Simply log-in using your e-mail address and password and you can get started immediately. Best of all, you will have access to your course 24/7 and from any computer with an internet connection. You can work at home, at the office, wherever is the most convenient for you! 
  • What if I have questions once I enroll in the Oregon Insurance program? OnCourse Learning’s attentive customer service staff and knowledgeable instructors are available to answer any questions you may have. We are available Monday-Friday, 8 a.m. to 5 p.m. PST at 1-800-299-2207.
  • Are OnCourse Learning’s continuing education courses approved to satisfy my Oregon Insurance Producer continuing education requirements? Yes. OnCourse Learning’s Oregon Insurance continuing education courses are approved to satisfy the education requirements to renew your Oregon Insurance Producer license.
  • Are there required courses to sell flood insurance, long-term care products or annuity products? Yes. The requirements to sell flood insurance, long-term products or annuity products are:
    • Long Term Care Requirements All life and health insurance producers that wish to sell or continue selling LTC insurance coverage must complete a one-time Long-Term Care training course consisting of no less than eight hours of training, and complete a minimum of a four-hour "refresher" course every two years thereafter.
    • Flood Insurance Requirement Resident producer licensees who sell property insurance and also want to sell flood insurance must demonstrate completion of a one-time minimum three-hour continuing education course about the federal flood insurance program. OnCourse Learning’s Flood Insurance course satisfies the 3-hour requirement. The Division recommends that producers who sell flood insurance take additional continuing education about flood insurance after meeting the one-time requirement.
    • Annuity Training Requirement: Effective July 1, 2011, producers who represent annuity products must complete a 4-hour annuity training course. Producers licensed on or before July 1, 2011 had until January 1, 2012 to complete the training. Anyone licensed after July 1, 2011 must complete the 4-hour annuity training requirement before representing annuity products. OnCourse Learning Annuity Suitability course is approved to satisfy the annuity training requirement.
  • How do OnCourse Learning’s Oregon Insurance continuing education courses work? OnCourse Learning’s Oregon Insurance continuing education courses are offered online for your convenience. Once enrolled, your Table of Contents will serve as your roadmap for completing the course. You will be given access to lesson material, multimedia reviews, quizzes and a final exam. To demonstrate course completion, you will need to read the lesson material, pass all quizzes and pass the final exam.
  • Will I receive a certificate of completion immediately after completing the coursework? Yes. Upon completion of all course elements, you will immediately receive your certificate of completion. You may access your certificate of completion at any time by logging into your account. 
  • Once I enroll, when can I access my Oregon Insurance continuing education courses? Upon enrolling, you will have immediate access to your coursework. Simply log-in using your e-mail address and password and you can get started immediately. Best of all, you will have access to your course 24/7 and from any computer with an internet connection. You can work at home, at the office, wherever is the most convenient for you!
  • What if I have questions once I enroll in the Oregon Insurance continuing education courses? OnCourse Learning’s attentive customer service staff and knowledgeable instructors are available to answer any questions you may have. We are available Monday-Friday, 8 a.m. to 5 p.m. PST at 1-800-299-2207. 

Oregon Insurance Licensing: More Information

For more information, please contact the Oregon Division of Financial Regulation at: