Oklahoma Real Estate Sales Associate Exam Practice Test
Frequently asked questions
How many Oklahoma Real Estate Sales Associate Exam practice questions are here?+
A full bank of original Oklahoma Real Estate Sales Associate Exam practice questions across the official content areas, weighted like the real exam, with explanations. Free, no signup.
What is the Oklahoma Real Estate Sales Associate Exam exam like?+
A multiple-choice exam. Practice by topic here, then take the full timed mock exam to gauge readiness.
Are these the real exam questions?+
No. Every question is 100% original, written from public primary sources with explanations. We never copy real exam questions or paid prep material.
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PrepPass practice is in English, 中文 and Español. The official exam is in English — switch the question language to English any time to rehearse the exact terminology you'll see on test day.
Sample practice questions
A few real questions from this free bank, with full explanations. Use the practice tool above for the whole set.
- 1. Property Ownership
Which type of estate gives an owner the fullest bundle of rights, is of potentially unlimited duration, and passes to the owner's heirs?
- a.Life estate
- b.Estate for years
- c.Fee simple absolute
- d.Estate at will
Answer: c
Explanation: A fee simple absolute is the highest and most complete estate in land: it lasts indefinitely and is freely inheritable and transferable. A life estate ends at the death of the measuring life, so it is not inheritable. An estate for years and an estate at will are leasehold (less-than-freehold) estates that give possession, not ownership, so they confer far fewer rights.
- 2. Valuation and Market Analysis
An appraiser is valuing a single-family home in an established neighborhood. Which approach to value will the appraiser rely on most heavily?
- a.Cost approach
- b.Income approach
- c.Sales comparison approach
- d.Gross rent multiplier approach
Answer: c
Explanation: The sales comparison approach, which analyzes recent sales of similar nearby properties, is the most reliable and heavily weighted method for single-family residences because such homes are bought and sold frequently, giving plenty of comparable data. The cost approach is most useful for new or special-purpose buildings, and the income approach (and gross rent multiplier) apply to income-producing property, not owner-occupied homes.
- 3. Financing
Which federal law requires lenders to disclose the true cost of credit, including the annual percentage rate (APR) and finance charges, to consumer borrowers?
- a.RESPA
- b.The Fair Housing Act
- c.The Truth in Lending Act (Regulation Z)
- d.The Equal Credit Opportunity Act
Answer: c
Explanation: The Truth in Lending Act, implemented by Regulation Z, requires lenders to disclose credit terms such as the APR and total finance charges so borrowers can compare loans. RESPA governs settlement-cost disclosures and prohibits kickbacks. The Fair Housing Act bars discrimination in housing. The Equal Credit Opportunity Act prohibits discrimination in lending but does not set the cost-of-credit disclosure rules.
- 4. Contracts
The legal doctrine that requires contracts for the sale of real estate to be in writing to be enforceable is called the:
- a.Statute of frauds
- b.Statute of limitations
- c.Doctrine of laches
- d.Parol evidence rule
Answer: a
Explanation: The statute of frauds requires certain contracts, including those for the sale of real property, to be in writing and signed to be enforceable. The statute of limitations sets the time limit for filing a lawsuit. Laches bars a claim due to unreasonable delay that prejudices the other party. The parol evidence rule limits the use of outside evidence to contradict a written contract.
- 5. Agency
A licensee represents both the buyer and the seller in the same transaction with the informed written consent of both. This relationship is called:
- a.Dual agency
- b.Single agency
- c.Designated subagency
- d.A general agency
Answer: a
Explanation: Dual agency occurs when one licensee (or brokerage) represents both parties in the same transaction, and it is permitted only with the informed written consent of both because of the inherent conflict of interest. Single agency is representing only one party. Subagency extends the listing broker's agency to another broker. A general agency covers a broad range of acts, unrelated to representing both sides at once.
- 6. Property Disclosures
A seller knows the basement floods every spring but does not mention it, and the defect is not visible during a normal inspection. This is an example of a:
- a.Latent material defect that must be disclosed
- b.Patent defect the buyer should have found
- c.Stigmatized condition
- d.Condition protected by caveat emptor
Answer: a
Explanation: A latent defect is a hidden, material problem not discoverable by ordinary inspection; a seller (and agent) who knows of it generally must disclose it because it affects value or desirability and safety. A patent defect is one that is obvious or readily observable. A stigmatized property involves events like a death, not a physical defect. Modern disclosure duties limit the old caveat emptor ('let the buyer beware') rule for known latent defects.
- 7. Practice of Real Estate
Under the federal Fair Housing Act, which of the following is a protected class?
- a.Occupation
- b.Level of education
- c.Source of a person's income
- d.Religion
Answer: d
Explanation: The federal Fair Housing Act prohibits discrimination based on race, color, religion, sex, national origin, familial status, and disability (handicap). Religion is therefore a protected class. Occupation, education level, and source of income are not protected under the federal act, although some state or local laws add extra protected categories such as source of income.
- 8. Real Estate Calculations
A home sells for $340,000 with a total commission of 6%. The listing brokerage receives 50% of the total commission, and the listing agent receives 60% of the listing brokerage's share. How much does the listing agent earn?
- a.$10,200
- b.$20,400
- c.$6,120
- d.$4,080
Answer: c
Explanation: First find the total commission: $340,000 x 6% = $20,400. The listing brokerage's share is 50%: $20,400 x 0.50 = $10,200. The listing agent then receives 60% of that: $10,200 x 0.60 = $6,120. The $20,400 figure is the total commission and $10,200 is the brokerage's full share, not the agent's; $4,080 mistakenly takes 40% instead of 60%.
- 9. Oklahoma License Law & the Real Estate Commission
Which agency administers and enforces the real estate license law in Oklahoma?
- a.The Oklahoma Department of Commerce
- b.The Oklahoma Association of Realtors
- c.The Oklahoma Real Estate Commission
- d.The Oklahoma Insurance Department
Answer: c
Explanation: 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.
- 10. Oklahoma Broker Relationships
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
Answer: b
Explanation: 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.