Oklahoma Real Estate Broker Exam — All Questions
3 questions
Which body licenses and regulates real estate brokers in Oklahoma?
- a.The Oklahoma Tax Commission
- b.The Oklahoma Real Estate Commission (OREC)✓
- c.The Oklahoma Bar Association
- d.The county clerk where the property is located
The Oklahoma Real Estate Commission (OREC) administers the Oklahoma Real Estate License Code and Rules, issuing and disciplining licenses for sales associates, broker associates, and brokers. It sets education and examination requirements and enforces standards of conduct. Trade groups and county offices have no licensing authority.
Oklahoma's real estate license structure is a ladder. Which sequence reflects it?
- a.Broker only, with no lower tiers
- b.Salesperson, then attorney, then broker
- c.Broker, then sales associate, then provisional sales associate
- d.Provisional sales associate, then sales associate, then broker associate, then broker✓
Oklahoma licenses advance from provisional sales associate to sales associate, then to broker associate, and finally to broker. Each step requires added education and experience. The broker tier carries independent authority to operate a firm and hold client funds, which is why the broker exam adds trust-account and management content.
Under the Oklahoma License Code, real estate advertising by a licensee must:
- a.Be truthful and not misleading, and generally identify the brokerage under which the licensee works✓
- b.Omit the brokerage name to protect client privacy
- c.Only appear in printed newspapers
- d.Be approved individually by the Governor's office
The Oklahoma License Code requires advertising to be honest and not misleading and to associate the licensee's activity with the responsible brokerage rather than appear to come from an independent salesperson. Blind or deceptive ads violate the Code. A broker is responsible for the advertising conducted under the firm.