Oklahoma Real Estate Sales Associate Exam — All Questions

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

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

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

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.