Oregon life line
The Oregon life insurance exam.
The Oregon life insurance exam is 100 scored questions, in 120 minutes, passing at 70 percent, $45 per attempt, administered by PSI Exams. We sell study materials and practice exams for it, written from the official Oregon outline. The first 20 study questions are free, and the full License Pass is $79, yours until you pass.
At a glance
| Exam | Oregon Producer's Examination for Life Insurance, Series 12-01 |
| Scored questions | 100 |
| Pretest questions | not published |
| Time limit | 120 minutes |
| Passing score | 70 percent |
| Exam fee | $45 |
| Testing vendor | PSI Exams |
| Retake rules | You cannot book a new appointment on the day you fail. If you fail on a Wednesday, you can call Thursday and retest as soon as Friday, if a seat is open. |
| Prelicensing education | required, from a provider your state insurance department lists |
Checked against PSI Exams' official materials. Specs change, so confirm them when you register.
How to get your Oregon life insurance license
- 1
Meet the basics
Oregon sets its own age, background check and application rules. The Oregon insurance department lists them, so read them before you book.
- 2
Complete the required prelicensing education
Oregon requires prelicensing education from a provider your state insurance department lists before you can test. Complete it with that provider, keep your completion record, then drill practice questions until the material sticks.
- 3
Book the exam with PSI Exams
Register at PSI Exams, pick a test center or online proctoring where offered, and pay the $45 exam fee.
- 4
Pass the exam
Walk in knowing the format, 100 scored questions in 120 minutes, passing at 70 percent. About 57 percent of first-time life exam takers pass nationally (NAIC, 2025 results).
- 5
Apply for the license and get appointed
Submit the license application (fingerprints where required), then get appointed with carriers so you can write business.
What the Oregon exam covers
From the official exam outline, each section's share of the exam and how many of the 100 scored questions it earns.
| Section | Weight | Questions |
|---|---|---|
| Insurance Regulation | 8 percent | 8 questions |
| Federal Laws and Regulations | 3 percent | 3 questions |
| General Insurance Concepts | 7 percent | 7 questions |
| Life Insurance Basics | 20 percent | 20 questions |
| Types of Life Insurance Policies | 20 percent | 20 questions |
| Life Insurance Policy Provisions, Options and Riders | 25 percent | 25 questions |
| Annuities | 11 percent | 11 questions |
| Federal Tax Considerations for Life Insurance | 6 percent | 6 questions |
Free Oregon practice questions
Original questions written to the Oregon outline, the same bank our students drill. Tap a question to check the answer.
Question 1Rosa wants to do business under the name "Sunrise Insurance Services" instead of her own name; what does Oregon require?
- A. She must form a corporation first
- B. Nothing, any name may be used freely
- C. She must register or notify the Director of the assumed business name
- D. She may only use her legal personal name
Show the answer
Answer: C
A producer using an assumed business name must notify or register that name with the Director so the public and regulator know who is behind it. A producer cannot use any name without disclosure. Forming a corporation is not required to use a trade name. Producers are allowed to use assumed names when properly reported.
Oregon assumed business name requirement (ORS Chapter 744)
Question 2Which of these is a civil penalty in Oregon insurance enforcement?
- A. A written warning with no consequences
- B. A requirement to take continuing education only
- C. A jail sentence imposed by a criminal court
- D. A monetary fine ordered by the Director for a violation
Show the answer
Answer: D
A civil penalty is a money fine the Director may impose for a violation of the insurance laws. A jail sentence is a criminal penalty, a warning with no consequences is not a penalty, and mandatory continuing education is not the definition of a civil penalty.
ORS 731.988 (civil penalty for violations of the Insurance Code)
Question 3Under Oregon insurance law, what is the primary purpose of the Director of the Department of Consumer and Business Services?
- A. To enforce the insurance code and protect the public
- B. To act as a broker for uninsured residents
- C. To sell state-sponsored insurance policies
- D. To set the premium rates all insurers must charge
Show the answer
Answer: A
The Director's core role is to administer and enforce the insurance code and protect consumers. Setting all premium rates is wrong because insurers file rates and the Director reviews them, but does not dictate every rate. The Director does not sell policies or act as a broker; that would be a conflict of interest and outside the regulatory role.
Question 4After being denied coverage because of a consumer report, Angela contacts the reporting agency; what right does the FCRA give her?
- A. To have the insurer's decision automatically reversed
- B. To receive a free replacement insurance policy
- C. To sue the producer for the cost of the report
- D. To learn what is in her file and dispute inaccurate information
Show the answer
Answer: D
The FCRA gives consumers the right to see the information in their file and to dispute items they believe are inaccurate, which the agency must then investigate. A denial is not automatically reversed, no free policy is provided, and there is no right to sue the producer for the report cost.
Fair Credit Reporting Act, 15 U.S.C. 1681g and 1681i (consumer access and disputes)
Question 5What is the main purpose of 18 USC Sections 1033 and 1034?
- A. To create the state guaranty association fund
- B. To make it a federal crime for certain people convicted of dishonesty crimes to work in insurance without written consent
- C. To set the minimum commission rates insurers may pay producers
- D. To require all insurance policies to include a free look period
Show the answer
Answer: B
Sections 1033 and 1034 are federal laws that prohibit anyone convicted of a felony involving dishonesty or breach of trust from working in the business of insurance unless they get written consent from a state insurance regulator. Commission rates are a state and contract matter, not the focus of these sections. Free look periods come from state law and policy contracts. The guaranty association is a state-created safety net, not part of these federal statutes.
18 USC Sections 1033 and 1034
Take the free Oregon practice test, every question with the answer and the explanation
Oregon exam FAQs
How many questions are on the Oregon life insurance exam?
100 scored questions, with 120 minutes on the clock.
What score passes the Oregon exam?
You need 70 percent to pass.
How much does the Oregon life insurance exam cost?
The exam fee is $45 per attempt, paid to PSI Exams. Licensing application and fingerprint fees are separate.
What happens if I fail the Oregon exam?
You cannot book a new appointment on the day you fail. If you fail on a Wednesday, you can call Thursday and retest as soon as Friday, if a seat is open. About 57 percent of first-time life exam takers pass nationally (NAIC, 2025 results). Failing once is common, and the fix is drilling the sections your score report names.
Does Oregon require prelicensing education before the exam?
Yes. Oregon requires prelicensing education from a provider your state insurance department lists before you can sit for the exam. We sell study materials and practice exams, not prelicensing education, so plan for both, the required education first, then practice here until the exam feels familiar.
What RingReady is, and is not
RingReady sells study materials and practice exams for the life insurance licensing exam. We are not a prelicensing education provider on any state's list, and practicing here does not by itself satisfy any state's education requirement.
If your state requires prelicensing education, you must complete it with a provider your state insurance department lists. The department publishes that list. What we do is help the questions feel familiar when you sit down for the real exam.
Practice the Oregon exam until it feels familiar.
Practice questions written to every section of the outline above, full timed practice exams matched to the real format (100 questions, 120 minutes), and a mastery map that shows what to study next.