Oklahoma real estate Study guides, Class notes & Summaries

Oklahoma Real Estate UPDATED Exam Questions and CORRECT Answers Abrogate - Correct ANSWER- To abolish in a public manner or end something when formal steps are needed Abstract of Title - Correct ANSWER- A summary or copy of all transfers, conveyances, legal proceedings, and any other facts relied on as evidence of title, showing continuity of ownership, together with any other elements of record which may impair title. Abutting - Correct ANSWER- The joining, reaching or touching of ad...

Types of mortgages available, interest rates, closing dates - Answer For the individual, what factors would weigh heavily in determining an offer price? A parcel of real property may include - Answer Land and improvements. mineral rights, trees,houses and septic tanks. Airspace, surface, and ground beneath the surface. To use, sell, or lease the property. To enter, give away, or do nothing with the property. - Answer Which of the following are ownership rights as contemplated by the "bund...

Oklahoma Real Estate Exam Questions And Complete Solutions

Tenancy in severalty - Answer sole ownership of a freehold estate CO-OWNERSHIP - Answer ownership by two or more owners Tenancy in common - Answer -co-tenants enjoy an individually owned, undivided interest; any ownership share possible; no survivorship Joint tenancy - Answer equal, undivided interest jointly owned by two or more parties, with survivorship; requires four unities to create: time, title, interest, possession; joint tenants can sell their interest, but the interest becomes a ...

Oklahoma Real Estate Test Questions With Correct Solutions |Verified

A SINGLE PARENT WITH AN INFANT CHILD - Answer UNDER FEDERAL FAIR HOUSING ACT REQUIREMENTS A PROPERTY MANAGER OF A RESIDENTIAL MULTI-UNIT PROPERTY MAY LEGALLY REFUSE TO APPROVE RENTING A UNIT IN A PROPERTY EXCLUSIVELY OCCUPIED BY PERSONS OVER 65 TO OFFICE SPACE RENT AND TELEPHONE - Answer WHAT TYPE OF EXPENSES WILL A FIRM MOST LIKELY BE RESPONSIBLE FOR PAYING FOR A NEWLY LICENSED SALES PERSON WHO HAS CONTRACTED TO WORK FOR A BROKER OF THE FIRM

What is a hearing examiner - Answer Has the power and authority to conduct hearing in the name of the commision Where can hearings take place - Answer any time or place Who has the burden of proof in a hearing - Answer Shall be upon the moving party Who may engage in real estate activities - Answer licensed agents

OKLAHOMA REAL ESTATE EXAM PREP QUESTIONS WITH VERIFIED ANSWERS

actual authority - Answer Authority given an agent either expressly or impliedly by a principal actual delivery - Answer transferring a deed from the grantor to the grantee by handing the deed to the grantee or sending it by certified mail. actual notice - Answer the express or direct knowledge acquired in the course of a transaction.

How much does the OREC earn while serving in an OREC capacity - Answer Travel expenses essential to performing the duties to his office What are the OREC Leadership positions - Answer Chairman, Vice chairman, secretary- treasurer, What is the OREC revolving fund - Answer Consist of all monies received by the OREC How often in the revolving fund audited and by whom? - Answer once a year and by the state auditor and inspector