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OK Real Estate Test (PSI Test Questions) With Complete Solutions.
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OK Real Estate Test (PSI Test Questions)With Complete Solutions
Under nnwhat nncondition nncan nnconfidential nninfo nnbe nnreleased? nn- nnANSWER: nn✔ nnThe nnparty nngives
nnconsent nnto nnthe nndisclosure nnin nnwriting.
The nnseller nnmakes nna nncounteroffer. nnThe nnBuyer nnaccepts nnand nndecides nnto nnreply nnusing nn"snail nnmail".
nnWhen nnis nna nnvalid nnpurchase nncontract nncreated nnusing nnthe nnpost nnoffice? nn- nnANSWER: nn✔ nnWhen nnthe
nnofferee nnputs nnthe nnacceptance nnin nnthe nnmail.
Title nninsurance nnis nnalways nnpaid... nn- nnANSWER: nn✔ nnBy nnthe nnbuyer.
The nnrevolving nnfund nnis nnunder nnthe nnmanagement nnof? nn- nnANSWER: nn✔ nnThe nnOklahoma nnReal nnEstate
nnCommission nn(OREC)
When nna nnform nnof nnreal nnestate nnsales nncontract nnhas nnbeen nnagreed nnto nnand nnsigned nnby nnthe nnpurchasers
nnand nngiven nnto nnthe nnseller's nnbroker nnwith nnan nnearnest nnmoney nncheck, nn- nnANSWER: nn✔ nnthis
nntransaction nnis nnconsidered nnan nnoffer.
A nnproperty nnowner nnin nna nndevelopment nnis nnrequired nnto nnhave nna nnshake nnroof. nnThis nnrequirement nnis
nnmost nnlikely nnto nncome nnfrom nn- nnANSWER: nn✔ nnA nndeed nnrestriction.
A nnborrower nngrosses nn$4,000 nnper nnmonth nnand nnpays nn$600 nnmonthly nnfor nndebt nnobligations. nnWhat
nnmonthly nnpayment nnfor nnhousing nnexpenses nn(principal, nninterest, nntaxes, nninsurance) nncan nnthis nnperson
nnafford nnbased nnon nnan nnFHA nndebt nnratio nnof nn41%? nn- nnANSWER: nn✔ nn$1,040
What nnmust nnan nnassociate nninclude nnin nnall nnadvertising? nn- nnANSWER: nn✔ nnassociate's nnBroker's nnname
Real nnEstate nndescribed nnas nnthe nnNE nn1/4 nnof nnthe nnSW nn1/4 nnof nnSection nn4, nnTownship nn3 nnNorth, nnRange
nn2 nnEast nnof nnthe nnCimarron nnMeridian nnwould nnbe nnwhich nnlegal nndescription? nn- nnANSWER: nn✔
nnRectangular nnsurvey
,One nnmember nnof nnthe nnOklahoma nnReal nnEstate nnCommission nnis nnset nnaside nnfor nnA. nna nnlayman nnB. nna
nnlawyer. nnC. nna nnmember nnof nnthe nnOAR. nnD. nnnone nnof nnthe nnabove. nn- nnANSWER: nn✔ nnlayman
Any nnreal nnestate nnbroker nnwho nncharges nnand nncollects nnany nnfees nnin nnadvance nnof nnthe nnservices
nnprovided nnby nnthe nnbroker nnshall nnprovide nna nndetailed nnaccounting nnof nnexpenditures nnto nnthe nnperson
nnsuch nnservices nnare nnperformed nnfor nnwithin nnA. nn15 nndays nnafter nnthe nntime nnspecified nnto nnperform nnsuch
nnservices nnor nnupon nnwritten nnrequest nnfrom nnperson nnfor nnwhom nnservices nnare nnperformed nnfor, nnbut nnno
nnlonger nnthan nnone nnyear nnfrom nndate nnof nncontract nnfor nnsuch nnservices. nnB. nn2 nndays nnafter nnthe nntime
nnspecified nnto nnperform nnsuch nnservices nnor nnupon nnwritten nnrequest nnfrom nnperson nnfor nnwhom nnservices
nnare nnperformed nnfor, nnbut nnno nnlonger nnthan nnone nnyear nnfrom nndate nnof nncontract nnfor nnsuch nnservices. nnC.
nn10 nndays nnafter nnthe nntime nnspecified nnto nnperform nnsuch nnservices nnor nnupon nnwritten nnrequest nnfrom
nnperson nnfor nnwhom nnservices nnare nnperformed nnfor, nnbut nnno nnlonger nnthan nnone nnyear nnfrom nndate nnof
nncontract nnfor nnsuch nnservices. nnD. nn5 nndays nnafter nnthe nntime nnspecified nnto nnperform nnsuch nnservices nnor
nnupon nnwritten nnrequest nnfrom nnperson nnfor nnwhom nnservi nn- nnANSWER: nn✔ nn10 nndays nnafter nnthe nntime
nnspecified nnto nnperform nnsuch nnservices nnor nnupon nnwritten nnrequest nnfrom nnperson nnwhom nnservices nnare
nnperformed nnfor, nnbut nnno nnlonger nnthan nnone nnyear nnfrom nndate nnof nncontract nnfor nnsuch nnservices.
A nnrelease nnclause nnin nna nnmortgage nn- nnANSWER: nn✔ nnAllows nnportions nnof nnthe nnproperty, nngiven nnas
nnsecurity, nnto nnbe nnreleased nnfrom nnthe nnmortgage nnlien nnupon nnperformance nnof nna nnspecified nnact
The nnminimum nnage nnto nnget nna nnProvisional nnReal nnEstate nnLicense nnin nnOklahoma nnis? nn- nnANSWER: nn✔ nn18
nnyears nnof nnage nnor nnolder
A nnprovisional nnsales nnassociate nnis nn- nnANSWER: nn✔ nnallowed nnto nnenter nninto nnan nnagreement nnin nnthe
nnname nnof nnthe nnreal nnestate nnbroker.
The nntaxable nnincome nnfrom nnan nninvestment nnproperty nnis nnestimated nnby nnusing nnwhich nnof nnthe
nnfollowing nnformulas? nn- nnANSWER: nn✔ nnNet nnincome nnminus nninterest nnand nndepreciation
You nnlist nna nnlot nnwhich nnis nn170 nnfeet nnby nn300 nnfeet. nnHow nnmany nnacres nnare nnin nnthe nnlot? nn- nnANSWER: nn✔
nn1.17 nnacres
You nnsell nna nnlot nnwhich nnis nn75 nnfeet nnby nn145 nnfeet. nnWhat nnpart nnof nnan nnacre nnis nnit? nn- nnANSWER: nn✔ nn1/4
nnacre
, The nnsupreme nnpower nninherent nnin nnthe nnstate nnto nntake nnland nnfrom nnthe nnowner nnby nndue nnprocess nnof
nnlaw nnwhen nnnecessary nnfor nnthe nnstates nnuse nnin nnthe nnpublic nnwelfare nnis nn- nnANSWER: nn✔ nneminent
nndomain
Claire, nnwho nnis nna nnreal nnestate nnbroker, nncloses nnher nnoffice. nnClaire nn- nnANSWER: nn✔ nnMust nnterminate nnall
nnadvertising nnin nnthe nnname nnof nnher nnfirm nnand nnoffering nnsigns nnmust nnbe nnremoved nnwithin nn30 nndays.
Which nnof nnthe nnfollowing nndeeds nnwould nnbe nnmost nnpreferred nnby nnthe nnbuyer? nn- nnANSWER: nn✔ nnGeneral
nnwarranty nndeed
The nnReal nnEstate nncommission nnMay nndiscipline nnlicensees, nninstructors, nnand nnreal nnestate nnschools nnby
nnwhich nnof nnthe nnfollowing? nn- nnANSWER: nn✔ nnAll nnof nnthe nnabove
A nnLicensee nnimbibed nnto nnliberally nnat nnthe nnBrokerage nnChristmas nnParty; nnon nnthe nnway nnhome,she
nndrove nninto nnanother nncar nnkilling nnthe nndriver; nngot nncharged nnwith nnvehicular nnhomicide; nnand nnenter nna
nnNolo nnContendre nnplea. nnWhat's nnnext? nn(7762) nn- nnANSWER: nn✔ nnBoth nn1 nnand nn2 nnare nncorrect
Albert nnwho nnis nna nnbroker nnwent nnto nnget nna nnlisting nnon nna nnpiece nnof nnproperty nnBill nnwas nnwanting nnto
nnsell. nnBill nnindicated nnto nnAlbert nnthat nnhe nndid nnnot nnwant nnhis nnhouse nnsold nnto nna nnHispanic. nnWhich
nnshould nnAlbert nndo? nn- nnANSWER: nn✔ nnRefuse nnto nnlist nnthe nnproperty.
A nnproperty nnowner nnwants nnto nnput nn$240,000 nnin nnthe nnbank nnafter nnselling nna nnproperty nnand nnaccounting
nnfor nnall nnexpenses. nnA nnbroker nnfinds nna nnbuyer nnand nnsells nnthe nnproperty nnfor nn$280,000. nnClosing nncosts
nncome nnto nn$10,000, nnnot nnincluding nnbroker's nncommission. nnAccording nnto nnthe nnagreement, nnthe
nnremainder nnof nnthe nnamount nnover nn$240,000 nngoes nnto nnthe nnbroker nncommission. nnThe nnlisting
nnagreement nnis nnprobably nna nn- nnANSWER: nn✔ nnNet nnlisting
In nnappraisal, nncomparable nnproperties nnare nnthose nnwhich nn- nnANSWER: nn✔ nnCan nnbe nnadjusted nnto
nnreasonably nnmatch nnthe nnsubject nnproperty.
Highest nnand nnbest nnuse nnof nna nnproperty nnis nnthat nnwhich nn- nnANSWER: nn✔ nnIs nnlegal, nnphysically nnand
nnfinancially nnfeasible, nnand nnmost nnproductive.
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