Oklahoma Real Estate Broker Exam Study Ch 4-7 with Complete Solutions
8 views 0 purchase
Course
Oklahoma Real Estate Broker
Institution
Oklahoma Real Estate Broker
Oklahoma Real Estate Broker Exam
Study Ch 4-7 with Complete Solutions
Under the new Oklahoma Brokerage Relationships Act the duties and responsibilities that were
previously designated to transaction brokers are now "assigned" to all brokers.
Section 858-363 The authority of Broker Associat...
Oklahoma Real Estate Broker Exam Study Ch 4 -7 with Complete Solutions Under the new Oklahoma Brokerage Relationships Act the duties and responsibilities that were previously designated to transaction brokers ✔✔are now "assigned" to all brokers. Section 858 -363 The authority of Broker Associates deals with ✔✔a clearer description of an associate's authority. Under the Brokerage Relationships Act which of the following actions is mandatory? ✔✔Account for all money and property received by the broker in a timely manner. Under what conditions can you disclose confidential information? ✔✔If the disclosure if required by law. Which of the following statements is True? ✔✔You are permitted to use the word "agent" in a trade name. What is the suggested strategy for currently active brokerage agreements signed into effect prior to November 1, 2013? ✔✔Enter into a new agreement when it expires. Which of the following broker actions converts a customer into a client? ✔✔Entering into a listing agreement. A seller's net sheet is best defined as a tool that is used to help ✔✔a property owner with a reasonable estimate of costs and net proceeds from the sale of the property. The term "transaction broker" has been removed from ✔✔the paragraph on vicarious liability. What are the duties of broker following termination, expiration, or completion of performance? ✔✔To account for all monies and property relating to the transaction and maintain confidentiality. After November 1, 2013 ✔✔if you use the terms "single party broker" and "transaction broker," you should clearly define the usage, since it is no longer defined in the law. When must a firm inform all parties in a transaction when providing services to both parties? ✔✔Prior to the parties signing a contract to purchase, lease, option or exchange real estate.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller StellarScores. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.99. You're not tied to anything after your purchase.