Oklahoma Real Estate Portion // PSI Real Estate Test with correct answers 100% 2025

Oklahoma Real Estate Portion // PSI Real Estate Test with correct answers 100% 2025 The Oklahoma Real Estate License Code and Rules as of November 1, 2016 - Correct Answer Code any person, partnership, association or corporation who for a fee lists, sells, offers to buy, exchange, rents, or leases real estate - Correct Answer Real Estate Broker Any person who has qualified for a license as a broker and who is acting on behalf of the broker - Correct Answer Broker Associate any person having a renewable license and working for a real estate broker - Correct Answer Real Estate Sales Associate Any person who has been licensed after June 30, 1993, and working for a real estate broker and subject to an additional 45 clock-hour post-licensing educational requirement to be completed within the twelve-month license term - Correct Answer Provisional Sales Associate to officially put a law into effect - Correct Answer Promulgate The Oklahoma Real Estate Commission (OREC) has been re-created to continue until July 1, 2017 and is in accordance with what Laws? - Correct Answer OREC is in accordance to the State's Sunset Law provisions OREC consists of how many members? - Correct Answer It consists of 7 members What authority does OREC have? - Correct Answer OREC has the authority to REGULATE and ISSUE Real Estate Licenses T/F All members of OREC must be members of the United States - Correct Answer TRUE All members of OREC MUST be citizens of the United States All members must be residents of that state for how many years before before they can be appointed? - Correct Answer All members MUST LIVE IN THE STATE FOR 3 YEARS before they can be appointed How many members of the OREC must be licensed Real Estate Brokers? - Correct Answer 5 members must be licenses RE brokers How many years of active experience do the RE brokers have to have before appointment? - Correct Answer To be appointed, these OREC members MUST have had 5 years of ACTIVE Broker experiences before being appointed T/F 2 People must be a lay person not in the RE business - Correct Answer FALSE