Oklahoma Real Estate Sales Associate Exam — All Questions

The principle of contribution states that the value of a component or improvement is measured by:

• a.The raw number of square feet of floor area or land area that the improvement happens to occupy
• b.The owner's personal emotional attachment to and sentimental feelings about that improvement
• c.Its original construction or installation cost in every case, dollar for dollar, with no exception
• d.How much it adds to the overall value of the property, not its cost✓

Under contribution, an improvement is worth the amount it adds to the whole property's market value, which may be more or less than its cost. This principle explains why some renovations do not fully return their expense, a key point in over-improvement analysis.

Under Internal Revenue Code Section 121, a qualifying homeowner may generally EXCLUDE from taxable capital gain:

• a.Up to $250,000 of gain if single, or $500,000 if married filing jointly✓
• b.Up to a full one million dollars of gain on any property at all, at any time and any frequency
• c.All gain on any and every investment or rental property the taxpayer happens to own and sell
• d.Absolutely nothing, because gain on the sale of a home is always fully and entirely taxable

Section 121 lets homeowners who owned and used the home as their principal residence for at least two of the prior five years exclude up to $250,000 of gain (single) or $500,000 (married filing jointly). It applies to a primary residence, not to investment property.

Depreciation recapture on the sale of investment real estate means that:

• a.All of the depreciation deductions previously claimed are simply refunded to the investor in cash
• b.The investor is legally required to physically restore and rebuild the depreciated building itself
• c.Gain from prior depreciation may be taxed, often at a special rate✓
• d.No income tax is ever owed at all on the sale of a property that has previously been depreciated

When depreciated property is sold at a gain, the portion of gain due to depreciation deductions is 'recaptured' and taxed under special rules, reflecting the earlier tax benefit. It is a tax concept, not a requirement to rebuild, and it increases, not eliminates, tax on sale.

Which appraisal approach is generally MOST reliable for a special-purpose property, such as a church or public school, that rarely sells and earns no market income?

• a.The sales comparison approach, which depends on recent sales of similar comparable properties
• b.The income approach, which converts a property's market rental income into an indicated value
• c.The gross rent multiplier method, which relies on typical market rents that these lack entirely
• d.The cost approach✓

Special-purpose properties have few or no comparable sales and generate no market rent, so the cost approach (replacement cost new, less depreciation, plus land) is typically most reliable. Sales comparison lacks comparables and the income/GRM methods need market income these properties do not produce.

The four characteristics an item must have to possess value in the market, often remembered as DUST, are:

• a.Debt, Utility, Supply, and Taxes, a mix of unrelated financing and cost terms rather than value
• b.Demand, Utility, Scarcity, and Transferability✓
• c.Depreciation, Use, Sale, and Title, which describe stages of ownership rather than value itself
• d.Demand, Ownership, Scarcity, and Time, which swaps in two terms that are not part of the concept

For something to have market value it must have Demand (buyers who want it), Utility (usefulness), Scarcity (limited supply), and Transferability (the ability to convey it). The DUST acronym captures these four essentials of value.

Which agency administers and enforces the real estate license law in Oklahoma?

• a.The Oklahoma Real Estate Commission✓
• b.The Oklahoma Association of Realtors
• c.The Oklahoma Insurance Department
• d.The Oklahoma Department of Commerce

The Oklahoma Real Estate Commission (OREC) administers and enforces the Oklahoma Real Estate License Code and issues, renews, and disciplines licenses for sales associates and brokers.

In Oklahoma, a first-time applicant who passes the exam is typically issued which license?

• a.Provisional sales associate✓
• b.Managing broker
• c.Permanent broker
• d.Broker associate

Oklahoma issues most first-time licensees a 'provisional sales associate' license. The provisional sales associate must complete required post-license education within the first license period to move to a full sales associate license.

The Oklahoma Real Estate Education and Recovery Fund exists primarily to:

• a.Provide loans to brokerages
• b.Fund licensee retirement benefits
• c.Pay the operating budget of the Commission
• d.Reimburse consumers who obtain an unpaid court judgment against a licensee for certain violations, up to statutory limits✓

The Oklahoma Real Estate Education and Recovery Fund reimburses members of the public who obtain a valid, unpaid court judgment against a licensee arising from certain violations of the license law, subject to per-transaction and per-licensee statutory caps. A licensee whose conduct causes a payout may have their license suspended until they repay the fund.

Under the Oklahoma Broker Relationships Act as it stands today, what is a broker's status toward the parties?

• a.A subagent of the listing broker in cooperative sales
• b.A dual agent once both parties sign a written consent
• c.Not an agent, subagent or dual agent of either party✓
• d.A universal agent for whichever party first engages

Oklahoma abolished common-law agency for licensees. A broker simply provides brokerage services to one or both parties and owes the mandatory statutory duties, which replace and abrogate common-law fiduciary duties. The statute is explicit that a broker shall not be an agent, subagent or dual agent, and that an offer of subagency shall not be made to other brokers. NOTE: the terms 'single-party broker' and 'transaction broker' were struck from the Act by HB 2524 effective 2013-11-01 and appear nowhere in OREC's current code book; older study guides still teach them. Cite: 59 O.S. 858-360(B); 858-353.

Under Oklahoma law, when must a broker disclose the broker relationship in writing to a party?

• a.Only after closing
• b.Before the party signs a contract for the sale or purchase of the property✓
• c.Never, because disclosure is optional in Oklahoma
• d.Only if the party is unrepresented

The Oklahoma Broker Relationships Act requires that the broker relationship be disclosed to a party in writing before that party signs a contract to buy or sell the property, so the consumer understands whether the broker is acting as a single-party broker or a transaction broker.

In Oklahoma, a sales associate who receives an earnest money deposit must generally:

• a.Return it to the buyer at closing regardless of the contract
• b.Deposit it directly with the county clerk
• c.Keep it in a personal bank account until closing
• d.Promptly deliver it to their broker to be handled according to the license law and Commission rules✓

In Oklahoma the broker, not the individual sales associate, is responsible for holding and accounting for trust funds such as earnest money. A sales associate who receives a deposit must promptly turn it over to their broker, who must handle it in accordance with the Oklahoma Real Estate License Code and Commission rules on trust accounts.

In Oklahoma, a licensed sales associate may lawfully receive a commission for a real estate transaction from:

• a.The Oklahoma Real Estate Commission
• b.Any party to the transaction directly
• c.The buyer only
• d.The broker with whom the associate is licensed✓

An Oklahoma sales associate may be paid only by the broker under whom they are licensed, not directly by buyers, sellers, or other brokers. This channeling of compensation through the associated broker is a core feature of Oklahoma license law.

How many clock hours of approved pre-license education must an Oklahoma provisional sales associate applicant complete before the licensing exam?

• a.150 hours
• b.90 hours✓
• c.180 hours
• d.45 hours

Oklahoma requires 90 clock hours of Commission-approved pre-license education to qualify for the provisional sales associate examination. After licensure, the provisional sales associate must complete additional post-license education within the first license term to convert to a full sales associate license.

Under the Oklahoma Broker Relationships Act, a broker working with a party to a transaction is:

• a.the general agent of the party who pays the commission
• b.not an agent, subagent, or dual agent of any party✓
• c.a dual agent once both parties sign a consent
• d.a subagent of the listing broker

Oklahoma replaced common-law agency with statutory duties. The Act's duties 'replace and abrogate the fiduciary or other duties of a broker to a party based on common law principles of agency,' and the statute adds that a broker shall not be an agent, subagent, or dual agent and that an offer of subagency shall not be made to other brokers. Who pays does not change this. Cite: 59 O.S. § 858-360(A)-(B) (Oklahoma Real Estate License Code and Rules, as of Nov. 1, 2025).

Oklahoma's statutory list of 'confidential information' a broker must keep confidential is exclusive. Which item is on that list?

• a.The number of days the property has been publicly marketed
• b.That a party is willing to accept less than the price being offered✓
• c.The square footage shown in the county assessor's public record
• d.The existence of a recorded utility easement crossing the lot

Section 858-353(A)(4) names four and only four confidential items: that a party will pay more or accept less than what is offered; that a party will agree to different financing terms; the party's motivating factors; and information the party specifically designates as confidential unless it is public. Marketing time, assessor records and recorded easements are public, so they are not confidential under the Act. Cite: 59 O.S. § 858-353(A)(4).

An Oklahoma compensation agreement between a broker and a represented party states no time frame. How long is it valid?

• a.Thirty days
• b.Sixty days✓
• c.Ninety days
• d.Twelve months

A 2024 amendment added a compensation-disclosure duty: the broker must disclose the time frame for which the compensation agreement is valid, which may not exceed one year, and 'if no time frame is specified, the compensation agreement shall default to sixty (60) days.' One year is the ceiling, not the default. Cite: 59 O.S. § 858-353(A)(7)(b), added by Okla. Laws 2024, SB 1920, § 1, eff. Nov. 1, 2024.

An Oklahoma broker must describe and disclose the statutory broker duties in writing to a party. When?

• a.Within three business days after the contract is signed
• b.Only when the party asks for a written description
• c.At first substantive contact, whether or not in writing
• d.Before that party signs the contract✓

A broker providing brokerage services to one or both parties must describe and disclose the Section 858-353 duties in writing prior to the party or parties signing a contract to sell, purchase, lease, option, or exchange real estate. The duty does not depend on a request, and after signing is too late. Cite: 59 O.S. § 858-355.1(C).

How must the parties confirm the written broker-duties disclosure required by 59 O.S. § 858-355.1(C)?

• a.In a separate provision incorporated in or attached to the purchase, lease, option, or exchange contract✓
• b.By a notarized affidavit filed with the Oklahoma Real Estate Commission
• c.By an oral acknowledgment witnessed by the closing agent
• d.By initialing the listing agreement when it is signed

Section 858-356 requires each party to confirm the disclosure in writing in a separate provision incorporated in or attached to the contract. Where the broker is involved but does not prepare the contract, the broker must document compliance. No notarization or Commission filing is required. Cite: 59 O.S. § 858-356.

Absent a written agreement saying otherwise, what does an Oklahoma broker still owe a party after performance is complete?

• a.To keep marketing the property until it closes elsewhere
• b.A continuing duty of undivided loyalty to that party
• c.To account for money and to keep confidences✓
• d.Nothing at all

After termination, expiration, or completion of performance, the broker owes no further duties except two: to account for all monies and property relating to the transaction, and to keep confidential all confidential information received during the relationship. Cite: 59 O.S. § 858-358.

In Oklahoma, what does the payment of a commission by one party to a broker establish?

• a.That the paying party is the broker's client for the transaction
• b.That the broker owes the paying party a fiduciary duty of loyalty
• c.That the broker may not provide brokerage services to the other party
• d.Nothing about what relationship, if any, exists between them✓

The statute is explicit that the payment or promise of payment of compensation by a party does not determine what relationship, if any, has been established between the broker and a party, and that receiving a fee based on selling price or lease cost is not a breach of duty. Cite: 59 O.S. § 858-359(A)-(B).

A seller is sued over a statement her listing licensee made. Under the Broker Relationships Act, what is the seller's exposure?

• a.None, because a party is not vicariously liable for a licensee's acts✓
• b.Full liability for any act the licensee took within the scope of the brokerage agreement
• c.Liability only if that party paid the licensee directly
• d.Liability unless the agreement disclaims it in writing

Oklahoma eliminated vicarious liability by statute: a party to a real estate transaction shall not be vicariously liable for the acts or omissions of a real estate licensee providing brokerage services under the Act. No disclaimer is needed to get that protection. Cite: 59 O.S. § 858-362.

May an Oklahoma brokerage use the word 'agent' in its trade name even though licensees are not agents?

• a.No, because the Act abrogated agency and the word would mislead
• b.Yes, the Act permits 'agent' in a trade name and as a general reference✓
• c.Yes, but only if the brokerage registers a disclaimer with the Commission
• d.No, unless every brokerage agreement defines the term for the consumer

The Act anticipates the vocabulary problem and answers it: brokers and their associates are permitted to use the word 'agent' in a trade name and as a general reference for designating themselves as real estate licensees. Cite: 59 O.S. § 858-361.

An Oklahoma sales associate is signing a listing agreement. In whose name may the agreement be entered?

• a.The associate's own name, with the broker countersigning later
• b.Either name, at the seller's election
• c.Only in the name of the associate's broker✓
• d.The associate's registered team name, if the broker approves

Associates shall not enter into a brokerage agreement in the associate's name and may enter it only in the name of the broker. A broker may authorize associates to provide brokerage services in the broker's name, which may include executing written agreements. Cite: 59 O.S. § 858-363; OAC 605:10-11-1(a).

A broker manages a rental house for the landlord and shows it to a prospective tenant. What does the broker owe that tenant?

• a.All statutory broker duties, because showing property creates a relationship
• b.Nothing, because the tenant is not the broker's client
• c.A duty of loyalty equal to that owed the landlord
• d.Honesty and reasonable skill and care✓

Commission rule provides that services given to a tenant under a landlord's property management agreement do not create a broker relationship with the tenant unless agreed in writing; however, the broker still owes the tenant the duties of honesty and exercising reasonable skill and care. Cite: OAC 605:10-15-2(c).

What is the range of an administrative fine the Oklahoma Real Estate Commission may impose on a licensee for one violation?

• a.Not less than $50 and not more than $1,000
• b.Not less than $100 and not more than $2,000✓
• c.Not less than $25 and not more than $500
• d.Not less than $200 and not more than $750

A fine for each violation of the Code or the Commission's rules shall not be less than One Hundred Dollars ($100.00) and shall not exceed Two Thousand Dollars ($2,000.00), with a separate ceiling of Five Thousand Dollars ($5,000.00) for all violations arising from a single incident or transaction. Cite: 59 O.S. § 858-402(A)(1) (last amended Okla. Laws 1999, c. 26, § 3, eff. Nov. 1, 1999).

An Oklahoma licensee does not pay an administrative fine within 30 days of notification of the Commission's order. What happens?

• a.The Commission refers the amount to district court for collection
• b.Interest accrues at seven percent until the fine is satisfied
• c.The fine doubles, then the license is revoked✓
• d.The license is immediately revoked with no further period to pay

If fines are not paid in full within 30 days of notification, the fines shall double and the licensee has an additional thirty-day period; if the doubled fine is not paid in that period, the license shall automatically be revoked. The seven percent figure belongs to Recovery Fund repayment, not to fines. Cite: 59 O.S. § 858-402(A)(4).

An unlicensed person in Oklahoma is convicted of knowingly acting as a real estate licensee. What is the criminal penalty?

• a.A misdemeanor: up to $5,000, six months in county jail, or both✓
• b.A felony: up to $5,000 and one year of imprisonment, plus restitution
• c.A misdemeanor punishable only by a fine, capped at $2,000
• d.A felony with permanent loss of eligibility

Unlicensed activity is a misdemeanor punishable by a fine of not more than $5,000.00, imprisonment in the county jail for not more than six months, or both. Separately, and in addition, the Commission may fine an unlicensed person up to $5,000 or the commissions earned, whichever is greater. Cite: 59 O.S. § 858-401(A)-(B).

What is the maximum a single claimant may receive from the Oklahoma Real Estate Education and Recovery Fund on one judgment?

• a.Ten Thousand Dollars ($10,000.00)
• b.Fifty Thousand Dollars ($50,000.00)
• c.One Hundred Thousand Dollars ($100,000.00)
• d.Twenty-five Thousand Dollars ($25,000.00)✓

A claimant may apply for the unsatisfied portion of the judgment representing actual or compensatory damages, or Twenty-five Thousand Dollars ($25,000.00), whichever is less. Attorney fees are reimbursable up to 25% of the approved amount; court costs and other expenses are not recoverable. Cite: 59 O.S. § 858-604(A) (last amended Okla. Laws 2005, c. 85, § 4, eff. Nov. 1, 2005).

Three consumers hold separate unpaid judgments against the same Oklahoma licensee. What will the Recovery Fund pay in total on that licensee?

• a.$25,000, the same as the single-claimant cap
• b.$30,000, three times the ten-thousand-dollar claim limit
• c.$50,000 in the aggregate against any one licensee✓
• d.No aggregate cap once each claim is approved

Payments on judgments against any one licensee shall not exceed $50,000.00 in the aggregate, and payments arising from the same transaction are likewise capped at $50,000.00 regardless of the number of claimants or parcels involved. Cite: 59 O.S. § 858-604(C)-(D).

The Recovery Fund pays a claim on a judgment against an Oklahoma licensee. What happens to that licensee's license?

• a.It is suspended for one year and then restored automatically
• b.It is automatically revoked✓
• c.It goes inactive until the licensee repays half the payout
• d.It is unaffected, because the Fund exists to absorb that loss

Payment from the Fund on a judgment against a licensee automatically revokes that license, and reinstatement will not even be considered until the licensee has repaid the amount in full plus interest at seven percent (7%) a year. Cite: 59 O.S. § 858-604(G).

Which claimant is expressly disqualified from recovering from the Oklahoma Real Estate Education and Recovery Fund?

• a.The spouse of the judgment debtor, or the personal representative of that spouse✓
• b.A buyer who has already collected part of the judgment from another source
• c.A claimant whose cause of action accrued eighteen months before filing suit
• d.A claimant represented by counsel who charged a contingent fee

Section 858-603(B) disqualifies the judgment debtor's spouse or that spouse's personal representative, a licensee who acted on their own behalf in the transaction, and a claimant jointly responsible for the loss. Partial recovery from another source must be applied to the judgment but does not disqualify the claim, and an eighteen-month-old cause of action is inside the two-year window. Cite: 59 O.S. § 858-603(A)(2), (A)(6), (B).

How soon after revocation may a person apply for reissuance of an Oklahoma real estate license?

• a.One year after the effective date of revocation
• b.Two years after the effective date of revocation
• c.Ten years after the effective date of the revocation
• d.Five years after the effective date of revocation✓

A person shall not be permitted to file an application for reissuance of a license within five years of the effective date of revocation, and on reapplying must then meet the requirements of an original applicant. Cite: 59 O.S. § 858-307.3; OAC 605:10-7-2(h).

An Oklahoma brokerage sues a seller for an unpaid commission. What must the brokerage plead and prove to maintain the action?

• a.That the commission rate was approved by the Commission
• b.That written notice of the claim was given to the Commission
• c.That it was licensed when the alleged cause of action arose✓
• d.That the seller received the statutory broker-duties disclosure

No person or entity acting as a real estate licensee may bring or maintain an action in any Oklahoma court for compensation for real estate services without alleging and proving licensure at the time the cause of action arose. The Commission does not set commission rates and has no interest in them. Cite: 59 O.S. § 858-311; OAC 605:10-17-1(a).

An Oklahoma licensee receives written notice of a complaint from the Commission. How long is there to respond in writing?

• a.Ten (10) days after receiving the written notice
• b.Fifteen (15) days after receiving the written notice✓
• c.Twenty (20) days after receiving the written notice
• d.Thirty (30) days after receiving the written notice

Failure to provide an adequate written response to the Commission within fifteen (15) days after receiving written notice of a complaint or investigation is itself an enumerated ground for discipline under the license law. Cite: 59 O.S. § 858-312(26).

An Oklahoma licensee pleads nolo contendere to a felony. What notice must the licensee give the Commission?

• a.Within 30 days of the plea, and again at sentencing✓
• b.Within 30 days of the judgment and sentencing, but not the plea
• c.Notice to the licensee's broker, who reports it at renewal
• d.No notice, because the Commission receives court dispositions

Every licensee must notify the Commission in writing of a conviction or a plea of guilty or nolo contendere to any felony within 30 days after the plea is taken, and also within 30 days of the entry of the order of judgment and sentencing. Failing to do either is separately a ground for discipline. Cite: 59 O.S. § 858-301.2; 59 O.S. § 858-312(27).

By when must an Oklahoma broker deposit escrow funds received on an accepted offer?

• a.By the close of the next business day
• b.Within five banking days of receipt
• c.Before the end of the third banking day✓
• d.At any time before closing, if funds are held intact

All escrow funds shall be deposited before the end of the third banking day following acceptance of an offer by an offeree or receipt of escrow funds, unless otherwise agreed to in writing by all interested parties. Cite: OAC 605:10-13-1(a)(1)(D).

How much of a broker's own money may sit in an Oklahoma brokerage trust account?

• a.Up to one thousand dollars, as a cushion against overdrafts
• b.Up to one percent of the account balance at any time
• c.None whatsoever, under any circumstances
• d.Only enough to keep the account open and cover bank service charges✓

Commingling is prohibited, but the rule allows one narrow exception: amounts sufficient to ensure the integrity of the account and to cover charges made by the financial institution for servicing it. There is no dollar or percentage cushion. Cite: OAC 605:10-13-1(b); see 59 O.S. § 858-312(16).

How long must an Oklahoma broker retain transaction and trust account records?

• a.Three years, with trust records in original format for one year
• b.Five years, trust originals kept two years✓
• c.Seven years, with trust records in original format for three years
• d.Ten years for every record in the file

A broker shall maintain all records and files for a minimum of five years after consummation or termination of a transaction; for trust account records the five years runs from the date funds are disbursed. Trust account records must stay in their original format for a minimum of two years before being moved to alternative media. Cite: OAC 605:10-13-1(l), (m)(1).

An Oklahoma broker wants to place escrow monies in an interest-bearing account. What does the Commission's rule require?

• a.Written disclosure to all parties, and a demand account✓
• b.Prior written approval from the Commission and annual interest reporting
• c.The interest must be credited to the buyer at closing
• d.Nothing; such accounts are prohibited in Oklahoma

The broker is not prohibited from using an interest-bearing account but must disclose in writing to all parties that it bears interest and identify the party receiving the interest; the broker may receive that interest. The account must be a demand type account, which rules out certificates of deposit and other time deposits. Cite: OAC 605:10-13-1(c).

A contract terminates and both parties demand the earnest money. No civil action has been filed. Under the special escrow disbursement rule, what may the broker do?

• a.Disburse immediately to whichever party the broker believes performed
• b.Deliver the funds to the Commission to hold until resolution
• c.Wait 30 days, then give 15 days' written notice✓
• d.Split the deposit equally between the parties and close the file

Absent a pending civil action, the rule shields a broker from discipline for disbursing after the passage of thirty days from final termination of the contract, based on a good-faith decision that the opposite party failed to perform, and only after fifteen days' written notice to all parties setting out the broker's proposed action. Filing an interpleader remains an option. Cite: OAC 605:10-13-3(b); OAC 605:10-13-1(h).

Under the Oklahoma Residential Property Condition Disclosure Act, how old may the seller's completed statement be when the buyer receives it?

• a.Not more than 30 days
• b.Not more than 90 days
• c.Not more than 60 days
• d.Not more than 180 days✓

The disclaimer or disclosure statement must be completed, signed and dated by the seller, and the date of completion may not be more than one hundred eighty (180) days prior to the date the purchaser receives it. Cite: 60 O.S. § 833(C) (last amended Okla. Laws 2003, c. 52, § 1, eff. Nov. 1, 2003).

When must the Oklahoma disclaimer or disclosure statement reach the purchaser?

• a.At or before closing
• b.Before acceptance of an offer to purchase✓
• c.Within three business days after acceptance
• d.Only on the purchaser's written request

The seller should deliver the statement as soon as practicable, but in any event before acceptance of an offer to purchase. If it arrives after an offer is made, the offer may be accepted only after the purchaser acknowledges receipt and confirms the offer in a signed, dated writing. Cite: 60 O.S. § 834(A)-(B).

Which transfer is exempt from the Oklahoma Residential Property Condition Disclosure Act?

• a.A transfer of a newly constructed, previously unoccupied dwelling✓
• b.A sale of a thirty-year-old duplex by an owner-occupant
• c.A sale by an estate's fiduciary who occupied the property as owner
• d.A sale of a single-family home the seller inherited and rented out

Section 838(A) exempts nine categories, including transfers of a newly constructed, previously unoccupied dwelling, court-ordered and foreclosure transfers, transfers between co-owners or spouses, and transfers to or from a governmental entity. The fiduciary exemption reaches only a fiduciary who is not an owner occupant, and the Act covers property of one or two dwelling units, so a duplex is inside it. Cite: 60 O.S. § 832(8); 60 O.S. § 838(A)(3), (A)(9).

A buyer asks an Oklahoma licensee whether a homicide occurred in the listed house. How does Oklahoma law treat that fact?

• a.A material defect that must be volunteered to all buyers
• b.Disclosable only if it happened within the last five years
• c.Not a material fact, but a written request triggers inquiry✓
• d.The licensee must refuse to answer and cite privacy statutes

Psychologically impacted status, including a suicide, homicide or other felony on the property, is not a material fact that must be disclosed, and no cause of action arises from non-disclosure. But if a purchaser making a bona fide offer advises the licensee in writing that the factor matters to the decision, the licensee must inquire of the owner and report findings with the owner's consent, or else advise the buyer that the owner refused. Cite: 59 O.S. § 858-513(A)-(C); OAC 605:10-15-3.

An Oklahoma licensee gives a buyer square footage taken from the tax assessor's record. What does the license law require?

• a.The licensee must independently measure the property to verify the figure
• b.The licensee must obtain a licensed appraiser's measurement before quoting any figure
• c.The licensee warrants the accuracy of any size figure that is passed along
• d.The licensee must identify the source of the third-party information✓

Size or area need not be provided at all, and if provided is not a warranty or guarantee. When a licensee does supply third-party information, such as an appraisal, survey, assessor's record or builder's plan, the licensee must identify its source. There is no duty to investigate independently or to verify accuracy. Cite: 59 O.S. § 858-515.1(A)-(C).

Oklahoma's wholesaler statute gives a homeowner a right to cancel the wholesaler's contract. How long is that window?

• a.Three calendar days from execution
• b.Two business days from execution✓
• c.Five business days from execution
• d.Until the wholesaler assigns the equitable interest

A wholesaler must disclose in writing that the homeowner may cancel without penalty within two business days after execution, and the statute independently grants that right. Omitting any required disclosure renders the contract invalid and unenforceable by the wholesaler and entitles the homeowner to the earnest money. Cite: 59 O.S. § 858-314(A)(3), (C), (F), added by Okla. Laws 2025, SB 1075, § 2, eff. Nov. 1, 2025.

An Oklahoma applicant completed the 90 clock hours of basic real estate instruction but never sat the exam. How long does that education stay valid?

• a.One year from certified completion
• b.Two years from the date the school certified it
• c.Three years from the date of certified completion✓
• d.It does not expire

The prelicense education required for a provisional sales associate is valid only for three years from the date the school certified successful completion; after that the applicant must complete an additional 90 clock hours of basic instruction. The same three-year rule governs the 90 hours of advanced instruction for broker and broker associate applicants. Cite: 59 O.S. § 858-302(A); 59 O.S. § 858-303(A)(2).

What post-license education must an Oklahoma provisional sales associate complete, and by when?

• a.45 clock hours before the first license expiration✓
• b.30 clock hours within 24 months of licensure
• c.60 clock hours before the second renewal date of the license
• d.90 clock hours during the first 12 months of the second term

Following issuance of the provisional sales associate license the licensee must submit evidence of 45 clock hours of approved post-license education before the license expires. Missing that deadline makes the license non-renewable, and a person who missed it must apply and qualify as an original applicant. Cite: 59 O.S. § 858-302(E); OAC 605:10-3-7(d); OAC 605:10-7-2(g).

What license terms does the Oklahoma Real Estate Commission issue?

• a.24 months for every license, provisional included
• b.36 months, except 12 months for a provisional sales associate✓
• c.12 months for every license, renewable indefinitely
• d.48 months for brokers and 24 months for associates

The Commission issues every real estate license for a term of 36 months, except a provisional sales associate license, whose term is 12 months. The expiration date is the end of the twelfth or thirty-sixth month, counting the month of issuance. Cite: 59 O.S. § 858-307.1(A).

What score passes the Oklahoma real estate licensing examination?

• a.70% for every license level
• b.75% for every license level
• c.80% for the broker exam and 75% for the sales associate exam
• d.75% for broker and 70% for sales associate✓

Commission rule sets two different passing scores: seventy-five percent or more passes the broker examination, and seventy percent or more passes the provisional sales associate/sales associate examination. Cite: OAC 605:10-3-5(f).