Oklahoma Real Estate Broker Exam — All Questions

A distinctly broker-only responsibility in Oklahoma is:

• a.Supervising affiliated associates and maintaining a place of business✓
• b.Attending open houses as a buyer
• c.Passing the national portion of the exam
• d.Holding a driver's license

Broker management topics that appear only on the broker exam include supervising affiliated sales and broker associates, maintaining a proper place of business, and handling firm operations. These supervisory and operational duties distinguish the broker license from the associate tiers.

If an Oklahoma broker ceases business or the broker dies or becomes disabled, the License Code addresses:

• a.Automatic transfer of the firm to the newest associate
• b.Cancellation of every client contract with no further duty
• c.Orderly handling of the firm's licenses, records, and trust funds, including notice to the Commission and to affiliated associates✓
• d.Immediate forfeiture of client trust funds to the state

Broker-management rules cover cessation of business and the death or disability of a broker, providing for orderly handling of the firm's licenses, associate affiliations, records, and trust funds, with appropriate notice to OREC. Affiliated associates generally must associate with another broker to continue practicing. Client trust funds remain protected, not forfeited.

An Oklahoma broker's duty to supervise affiliated associates means the broker:

• a.Is responsible only for associates who request supervision
• b.Must reasonably oversee the licensed activities of associates and can be disciplined for failing to do so✓
• c.May delegate all responsibility to the associates with no accountability
• d.Only supervises associates during their first month

A broker must reasonably supervise the licensed activities of affiliated associates, including their advertising, disclosures, and handling of funds delivered to the broker. Failure to supervise can subject the broker to discipline even when an associate committed the underlying violation. Supervision cannot be delegated away in a manner that eliminates the broker's accountability.