Oklahoma Real Estate Sales Associate Exam — All Questions

Under the Oklahoma Broker Relationships Act, which two brokerage relationships may a broker offer a party?

• a.Subagent or dual agent
• b.Universal agent or special agent
• c.Single-party broker or transaction broker✓
• d.Listing agent or cooperating agent

Oklahoma replaced traditional common-law agency with the statutory Broker Relationships Act. A broker works with a party either as a 'single-party broker' (representing that party's interests) or as a 'transaction broker' (assisting without being an advocate for either side). Oklahoma does not use subagency in this framework.

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.Only if the party is unrepresented
• d.Never, because disclosure is optional in Oklahoma

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.