Oklahoma real estate law - Study guides, Class notes & Summaries

The Licensing Law correct answers The law that created licensing and certification for appraisers in Oklahoma is known as the Oklahoma Certified Real Estate Appraisers Act. For the sake of brevity in this course, we will refer to this law as the Appraiser Certification Act. In a previous chapter, we stated that the federal FIRREA legislation required each state to set up a program for licensure and certification of real estate appraisers. The Oklahoma Appraiser Certification Act, which was passe...

OK Real Estate Test (PSI Test Questions) with Complete Solutions Under what condition can confidential info be released? The party gives consent to the disclosure in writing. The seller makes a counteroffer. The Buyer accepts and decides to reply using "snail mail". When is a valid purchase contract created using the post office? When the offeree puts the acceptance in the mail. Title insurance is always paid... By the buyer. The revolving fund is under the management of? The...

Introduction to Real Estate Chapter 1 Questions and Answers Rated A+ In general, when the supply of a certain commodity increases A prices tend to rise. B. prices tend to drop. C. prices tend to stabilize. D. demand tends to increase proportionately. B. prices tend to drop. The real estate market is subject to A. the cyclic changes in the national economy. B. the law of supply and demand. C. Both A and B. D. Neither A nor B. C. Both A and B. The typical real estate licensee m...

OKLAHOMA REAL ESTATE EXAM PREP LATEST UPDATE GRADED A+ WHAT TYPE OF CONTRACT IS A REAL ESTATE OPTION CONTRACT? UNILATERAL CONTRACT DURING AN APPRAISAL OF A RESIDENTIAL PROPERTY AN APPRAISER ESTIMATES THE COST OF REBUILDING THE SUBJECT PROPERTY SO THAT IT IS IDENTICAL TO ITS CURRENT SIZE AND CONDITION IS AN EXAMPLE OF WHAT TYPE OF APPRAISAL PRINCIPLE? SUBSTITUTION ACCORDING TO THE STATUTE OF FRAUDS IN ORDER FOR A REAL ESTATE SALES CONTRACT TO BE ENFORCEABLE IN COURT THEY MUST BE ...

PSI Real Estate Exam (MD State Portion) Latest 2024 Graded A+ Real Estate brokerage is govern by: 1. Satutory Law - Brokers Act "Title 17" 2. Administrative Law - Code of Maryland Regulations (COMAR) Regulation is enacted and enforced by MD Real Estate Commission (MREC) Brokerage Services: For consideration: - Selling, buying, exchanging, or leasing any real estate or collecting rent - Assisting to locate/obtain for purchase/lease any residential real estate - Serving as a consultant...

Oklahoma Real Estate Final Exam Questions and Answers Already Passed Which one of the following would not be considered reason to discipline a real estate licensee: Advertising to sale a personal residence Which one of the following would not be considered a prohibited act and reason for loss of license: Failing to pay your personal taxes within the one year time period In accordance with Rule 605:10-17-4, which one of the following would not be considered a prohibited act by the Co...

"A" sold his home for $26,500 to "B" who agreed to assume the existing mortgage of $25,950. Give the cost of documentary tax stamps "A" would be required to place on the deed - $39.75 A and B have entered into a contract. In order for this contract to be enforceable, the contract - (search) must be entered into by competent parties, for legal purposes and in writing A and B on a house. Have to own the house for 2 years, a decides he wants to sell his interest in the property A and B o...

PSI Real Estate Exam (MD State Portion) With 100% Correct Answers Real Estate brokerage is govern by: - answer1. Satutory Law - Brokers Act "Title 17" 2. Administrative Law - Code of Maryland Regulations (COMAR) Regulation is enacted and enforced by MD Real Estate Commission (MREC) Brokerage Services: - answerFor consideration: - *Selling, buying, exchanging, or leasing* any real estate or collecting rent - Assisting to *locate/obtain* for purchase/lease any residential real estate - S...

PSI Real Estate Exam (MD State Portion) With 100% Correct Answers Real Estate brokerage is govern by: - answer1. Satutory Law - Brokers Act "Title 17" 2. Administrative Law - Code of Maryland Regulations (COMAR) Regulation is enacted and enforced by MD Real Estate Commission (MREC) Brokerage Services: - answerFor consideration: - *Selling, buying, exchanging, or leasing* any real estate or collecting rent - Assisting to *locate/obtain* for purchase/lease any residential real estate - S...

OREC Laws & Rules Affecting Practice in OK (Real Estate) Latest Version Graded A+ How long must a released felon sentenced for embezzlement wait before applying for a license? 10 years Under what condition must a licensee disclose real estate license status? When attempting to purchase property for themselves Licensees are required to complete continuing education hours within the thirty-six (36) months immediately preceding the term for which the license is to be issued How m...