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Oklahoma Real Estate Exam Questions and Answers 100% Solved | Rated A+ $11.49
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Oklahoma Real Estate Exam Questions and Answers 100% Solved | Rated A+
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Oklahoma Real Estate Exam Questions and Answers 100% Solved | Rated A+ How does the code Define Real Estate? - Shall Include any interest or estate in real property. Does NOT include the interest of oil, gas or other mineral interest Real Estate Broker - Shall include any person , Partnership,...

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  • December 24, 2024
  • 41
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • Real Estate
  • Real Estate

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JOSHCLAY

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Oklahoma Real Estate Exam Questions

and Answers 100% Solved | Rated A+


How does the code Define Real Estate? - ✔✔Shall Include any interest or

estate in real property. Does NOT include the interest of oil, gas or other

mineral interest

Real Estate Broker - ✔✔Shall include any person , Partnership,

association, or cooperation, who for a fee lists, sells, offers to sell, buys, or

attempts to buy, exchanges, rents, leases, or attempts to negotiate any

such activity

Broker Associate - ✔✔Shall include any person who is qualified for a

license as a broker and in any act, or transaction set in in broker definition

Real Estate Associate - ✔✔Any person having renewable license and

employed or engaged by, or associated as and independent contractor with

a real estate broker to do or deal in any act, acts or transactions set out in

the definition of real estate broker

Provisional Sales associate - ✔✔Shall Include any person who has been

licensed after June 30, 1993 employed by a real estate broker to do or deal

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©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.

,in any act, or transactions set out in the definition of real estate broker. and

subject to an additional 45 hour post license educational requirement to be

completed within 12 months

Licensee - ✔✔Shall include any person who performs any act, acts or

transactions set out in the definition of a broker and licensed under the

OREC

Commission - ✔✔Shall Mean the Oklahoma Real estate Commission

Person - ✔✔Shall Include and mean every individual, partnership,

Association or corporation, foreign and domestic.

How Many Members does the OREC Have? - ✔✔7 Members

What or who Regulates and issues real estate licenses in OK -

✔✔Oklahoma Real Estate Commission

What are the basic requirements to serve as a commissioner - ✔✔All

members should be citizens and resident of the state of OK for at least

three years prior to their appointment.

Based on the occupation, how is the commission compromised - ✔✔5

members Shall be licensed real estate brokers with 5 years of active

experience. 1 member shall be a lay person not in the real estate business.




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,and 1 member shall be an active representative of a school of real estate

located in OK.

What is the limitation regard congressional districts - ✔✔No more than 2

members shall be appointed from the same congressional district.

Who appoints OREC Members - ✔✔Appointed by the Governor with the

advice and the consent of the senate

How long is the term of an OREC member - ✔✔Terms are 4 years and until

their successor is apponted

What organization recommends candidates to serve as commissioners -

✔✔Oklahoma Association of realtors, INC

Who can remove members of OREC and for what causes/reasons -

✔✔Members may be removed by the Governor, For inefficiency, neglect,

or malfeasance in office int eh manner provided by law

How much does the OREC earn while serving in an OREC capacity -

✔✔Travel expenses essential to performing the duties to his office

What are the OREC Leadership positions - ✔✔Chairman, Vice chairman,

secretary- treasurer,

What is the OREC revolving fund - ✔✔Consist of all monies received by

the OREC

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©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.

, How often in the revolving fund audited and by whom? - ✔✔once a year

and by the state auditor and inspector

Can OREC Sue an be Sued - ✔✔yes

Where must the OREC office be located - ✔✔Oklahoma city, Ok

What are the powers and duties of OREC - ✔✔1.promulgate rules

2.administer examinations

3. to sell to other entities, computer testing and license applications to

recover funds.

4. issue licenses

5.

more stuff 858-208

What governs OREC and defines the procedures for OREC performance -

✔✔Administrative procedures act

What is a hearing examiner - ✔✔Has the power and authority to conduct

hearing in the name of the commision

Where can hearings take place - ✔✔any time or place

Who has the burden of proof in a hearing - ✔✔Shall be upon the moving

party

Who may engage in real estate activities - ✔✔licensed agents

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©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.

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