Ohio Real Estate Salesperson Exam — All Questions

An Ohio broker both manages rentals and lists homes for sale. Under ORC 4735.18(A)(27), the rents and security deposits must be:

• a.in the same trust account that holds earnest money
• b.in a trust account used only for those funds✓
• c.paid straight into each owner's personal bank account
• d.in the brokerage's operating account, reconciled monthly

ORC 4735.18(A)(27) requires a separate special or trust account 'to be used exclusively for the deposit and maintenance of all rents, security deposits, escrow funds, and other moneys received by the broker' in property management, distinct from the earnest-money trust account of division (A)(26). Cite: ORC 4735.18(A)(27) (eff. 3/20/2026, SB 155 and SB 56, 136th G.A.).

Earnest money sitting in an Ohio broker's trust account may be released before closing when:

• a.the listing broker concludes that the buyer defaulted
• b.thirty days pass with no written objection from either party
• c.the buyer's lender turns down the loan application
• d.both parties sign separate written instructions on disbursing it✓

ORC 4735.24(A) holds the money in the account per the purchase agreement until the transaction closes, until 'the parties provide the broker with separate written instructions that both parties have signed,' until a final court order says who gets it, until a residential cancellation under ORC 5301.95(C)(1), or until it becomes unclaimed funds. Cite: ORC 4735.24(A) (eff. 3/2/2026, SB 155, 136th G.A.).

An Ohio purchase agreement carries the optional clause of ORC 4735.24(B). The parties dispute the earnest money and never sign instructions or file suit. The broker must:

• a.divide it evenly between the purchaser and the seller
• b.pay it to the seller as liquidated damages after a year
• c.return it to the purchaser by the September 1 after two years✓
• d.leave it in the trust account indefinitely until a court rules

ORC 4735.24(C)(1): where the agreement contains the division (B) provision, 'not later than the first day of September following the two year anniversary date of the deposit of the earnest money in the broker's account, the broker shall return the earnest money to the purchaser' unless signed instructions or notice of a court action arrived. Cite: ORC 4735.24(C)(1) (eff. 3/2/2026, SB 155, 136th G.A.).

An Ohio broker cannot locate the purchaser when disputed earnest money falls due to be returned. ORC 4735.24(C)(2) tells the broker to:

• a.remit it to the director of commerce as unclaimed funds✓
• b.book it as brokerage income at the end of the year
• c.deposit it with the recorder of the property's county
• d.release it to the seller after ninety more days have passed

ORC 4735.24(C)(2) requires the broker, after giving the notice ORC 169.03(E) demands, to report the money as unclaimed funds to the director of commerce under ORC 169.03 and remit all of it. Cite: ORC 4735.24(C)(2) (eff. 3/2/2026, SB 155, 136th G.A.).

Who creates the agency disclosure statement Ohio licensees are required to use?

• a.Each brokerage drafts its own, subject to division audit
• b.The superintendent, with the commission's approval✓
• c.The Ohio Association of REALTORS, by a vote of members
• d.The Ohio supreme court's real property advisory committee

ORC 4735.57(A) directs the superintendent of real estate, with the approval of the Ohio Real Estate Commission, to develop and make available the agency disclosure statement, and fixes what the form must contain. Cite: ORC 4735.57(A) (eff. 1/1/2005, SB 106, 125th G.A.).

When must an Ohio purchaser's agent present the agency disclosure statement to the purchaser?

• a.At the first showing of any property whatsoever
• b.Within three days after the seller accepts the offer
• c.No later than the preparation of an offer to purchase✓
• d.At the closing table, before the deed is handed over

ORC 4735.58(A) requires the purchaser's agent or the seller's subagent working with a purchaser to present the statement and ask the purchaser to sign and date it 'no later than the preparation of an offer to purchase,' then deliver the signed statement to the seller's agent or to an unrepresented seller. Cite: ORC 4735.58(A) (eff. 9/29/2011, HB 153, 129th G.A.).

Ohio's agency disclosure statement requirement does not reach the leasing of residential premises when:

• a.the rental or lease can be performed in eighteen months or less✓
• b.the tenant is related to the owner by blood, marriage or adoption
• c.the monthly rent is under one thousand dollars a month
• d.the landlord owns fewer than four rental units in total

ORC 4735.58 exempts 'the rental or leasing of residential premises' where the rental or lease agreement can be performed in eighteen months or less, along with foreign real estate, cemetery lots, and referrals of prospective buyers or sellers. Cite: ORC 4735.58 (eff. 9/29/2011, HB 153, 129th G.A.).

Under ORC 4735.56, when must an Ohio licensee give a seller the brokerage's written policy on agency?

• a.Within ten days after the listing reaches the MLS
• b.Only if the seller asks to see the brokerage policy
• c.At the same moment the purchase offer is presented
• d.When the licensee and seller enter the agency agreement✓

ORC 4735.56 requires the brokerage policy to be given to the seller at the time the licensee and seller enter into an agency agreement, or before the licensee advertises or shows the property, with the seller signing an acknowledgement of receipt. Cite: ORC 4735.56 (eff. 9/30/2025, HB 96, 136th G.A.).

Before an Ohio brokerage may act as a dual agent, ORC 4735.71 requires:

• a.oral consent, noted by the agent in the file
• b.written consent from both the seller and the purchaser✓
• c.the written approval of the superintendent of real estate
• d.a court order blessing the dual representation

ORC 4735.71(A) forbids dual representation without the written consent of both parties, and requires the licensee first to disclose 'all relevant information necessary to enable each party to make an informed decision.' A later material change reopens the right to withdraw consent. Cite: ORC 4735.71(A) (eff. 9/29/2011, HB 153, 129th G.A.).

Which of these is a dual agency under Ohio's ORC 4735.70?

• a.A brokerage representing both purchaser and seller in one deal✓
• b.Two separate brokerages cooperating on one transaction
• c.A licensee referring a client out to another brokerage
• d.A broker representing only the seller in a cash sale

ORC 4735.70 defines dual agency as a licensee representing both purchaser and seller as clients in the same transaction, a brokerage representing both, or a management-level licensee representing a client in an in-company transaction (with the exceptions in division (C)). Cite: ORC 4735.70 (eff. 1/1/2005, SB 106, 125th G.A.).

An Ohio licensee holds a 20% interest in the company that owns the listed property. May the licensee act as a dual agent in its sale?

• a.Yes, provided both parties sign the consent form
• b.Yes, if the brokerage's written policy permits it
• c.No; a licensee with an interest in the property cannot✓
• d.Yes, with a written waiver from the superintendent of real estate

ORC 4735.71(C) bars a licensee from dual agency where the licensee has a personal interest in the property, or is affiliated with an entity holding such an interest or intending to buy, lease or exchange it. Party consent cannot cure that bar. Cite: ORC 4735.71(C) (eff. 9/29/2011, HB 153, 129th G.A.).

Which is NOT among the fiduciary duties ORC 4735.62 places on an Ohio licensee representing a client?

• a.Exercising reasonable skill and care for the client
• b.Following the client's lawful instructions promptly
• c.Accounting in a timely manner for money received
• d.Guaranteeing that the seller's statements are true✓

ORC 4735.62(A) to (I) lists reasonable skill and care, performing the written agency agreement, lawful instructions, loyalty, fair housing compliance, disclosure of non-confidential material facts, advising the client to get expert advice, timely accounting, and confidentiality. ORC 4735.67(B) expressly relieves the licensee of verifying the seller's statements unless the licensee knows of contradicting information. Cite: ORC 4735.62 (eff. 9/29/2011, HB 153, 129th G.A.) and ORC 4735.67(B) (eff. 12/13/1996, HB 354, 121st G.A.).

After an Ohio transaction closes, which duties does the licensee still owe the former client?

• a.Every fiduciary duty in ORC 4735.62, without end
• b.An accounting, and continued confidentiality✓
• c.None at all; the agency relationship ends at closing
• d.Only the duty to keep the transaction file three years

ORC 4735.74 ends the licensee's duties on completion or termination except for (A) providing the client an accounting of all moneys and property relating to the transaction and (B) keeping confidential the information learned during it, subject to the listed exceptions. Cite: ORC 4735.74 (eff. 9/10/2012, HB 487, 129th G.A.).

ORC 4735.67(A) requires an Ohio licensee to disclose to a purchaser:

• a.any remark the seller ever made about the neighbourhood
• b.the lowest price the seller has authorised the agent to take
• c.material physical-condition facts the licensee actually knows✓
• d.the seller's personal reason for moving out of the property

ORC 4735.67(A) requires disclosure of 'all material facts of which the licensee has actual knowledge pertaining to the physical condition of the property,' with knowledge inferred if the licensee acts with reckless disregard. The seller's price floor and motivation are confidential information under the agency statutes, not required disclosures. Cite: ORC 4735.67(A) (eff. 12/13/1996, HB 354, 121st G.A.).

An Ohio salesperson advertises a house she owns herself that is not listed with any brokerage. ORC 4735.16(B) makes her advertisement:

• a.name her and say the property is agent owned✓
• b.name only the brokerage she is affiliated with
• c.read 'for sale by owner' and leave out her name
• d.carry the superintendent's advertising file number

ORC 4735.16(B) requires a licensee advertising property the licensee owns to identify himself or herself and to state that the property is 'agent owned,' and to disclose the brokerage as well if the property is listed. Cite: ORC 4735.16(B) (eff. 9/29/2011, HB 153, 129th G.A.).

In Ohio real estate advertising, the brokerage's name must appear:

• a.only in the fine print at the bottom of the ad
• b.at twice the size of the property's street address
• c.on the yard sign alone, and not in online listings
• d.in equal prominence with the salesperson's name✓

ORC 4735.16(B) provides that 'the name of the brokerage shall be displayed in equal prominence with the name of the salesperson,' and the licensee must be identified by name with the affiliated brokerage named. Cite: ORC 4735.16(B) (eff. 9/29/2011, HB 153, 129th G.A.).

Ohio's team advertising rule, OAC 1301:5-1-21, says a team's name:

• a.may be any name the principal broker approves in writing
• b.must carry 'team' or 'group' and skip 'realty' and 'associates'✓
• c.must include the surname of the brokerage's principal broker
• d.may not appear in advertising at all, only on business cards

OAC 1301:5-1-21 requires a team or group name to include the word 'team' or 'group' and forbids the words 'realty' and 'associates', and requires the brokerage name in equal or greater prominence than the team name and the salesperson's name. Non-compliance is prima facie evidence of a violation of ORC 4735.18(A)(21). Cite: OAC 1301:5-1-21 (eff. 7/1/2021; prior eff. 7/28/2002, 1/1/2013).

An Ohio broker returns an affiliated salesperson's licence to the division. Within what time must the broker notify that salesperson in writing?

• a.Ten business days
• b.Thirty calendar days
• c.Three business days✓
• d.Five calendar days

OAC 1301:5-1-06 requires the principal broker to give written notice by hand delivery, mail, facsimile or email 'within three business days of returning the licensee's license to the division,' keep proof of delivery, and copy the division. The salesperson's licence then goes automatically to inactive status. Cite: OAC 1301:5-1-06 (eff. 3/28/2025; prior eff. 2/10/2019).

Who prescribes the Ohio Residential Property Disclosure Form?

• a.The Ohio supreme court
• b.The county auditor's office
• c.The property's listing broker
• d.The director of commerce✓

ORC 5302.30(D) has the director of commerce prescribe the disclosure form, which lets the transferor disclose material matters relating to the physical condition of the property. Cite: ORC 5302.30(D) (eff. 5/6/2005, HB 231, 125th G.A.).

An Ohio buyer signs a purchase contract and only afterwards receives the seller's Residential Property Disclosure Form. The buyer may rescind:

• a.within three business days of receiving the form✓
• b.at any time before the deed is recorded
• c.within thirty days of receiving the form
• d.only if the form discloses a material defect

ORC 5302.30(K) gives the transferee three business days following receipt of the form or an amendment by the transferee or the transferee's agent, and in no event later than the earlier of thirty days after the transferor accepted the offer or the date of closing or transfer of title. No rescission right arises if the form came before the offer. Cite: ORC 5302.30(K) (eff. 5/6/2005, HB 231, 125th G.A.).

Which Ohio transfer is exempt from the Residential Property Disclosure Form?

• a.An owner's sale of a sixty-year-old bungalow
• b.A sheriff's sale under a foreclosure decree✓
• c.An owner-occupant's sale of a two-family duplex
• d.An owner's sale of a condominium unit she lives in

ORC 5302.30(B) exempts court-ordered transfers such as foreclosure, probate and bankruptcy sales, mortgagee acquisitions and deeds in lieu, fiduciary transfers, transfers between co-owners or relatives, transfers involving government bodies, and newly built, never-occupied homes. An ordinary owner sale of a used one- to four-family home is covered. Cite: ORC 5302.30(B) (eff. 5/6/2005, HB 231, 125th G.A.).

Ohio's statewide real property conveyance fee, collected by the county auditor, is:

• a.one dollar per hundred dollars of value, at least ten dollars
• b.fifty cents per hundred dollars of value, with no minimum
• c.ten cents per hundred dollars of value, at least one dollar✓
• d.one per cent of the price, capped at five hundred dollars

ORC 319.54(G)(3) sets the auditor's conveyance fee at 'one dollar, or ten cents for each one hundred dollars or fraction thereof,' whichever is greater, which works out to $1 per $1,000 of value with a $1 floor. A county may add a permissive transfer tax of up to thirty cents per hundred dollars under ORC 322.02. Cite: ORC 319.54(G)(3) (eff. 4/9/2025, HB 265 and HB 496, 135th G.A.).

Ohio is one of the few states that still recognises dower. Under ORC 2103.02 a spouse holds:

• a.a fee simple half interest in the marital residence
• b.a claim to one third of the sale proceeds at closing
• c.an automatic survivorship tenancy in all real property
• d.a life estate in one third of the other spouse's real property✓

ORC 2103.02 endows a spouse 'of an estate for life in one third of the real property' the other spouse owned during the marriage. Because that interest survives a conveyance made during the marriage unless the spouse is barred of dower, Ohio deeds routinely have the non-owning spouse sign to release it. Cite: ORC 2103.02 (eff. 10/1/1953, SB 361, 100th G.A.).