Oklahoma Real Estate Final Exam Questions and Answers Already Passed

Oklahoma Real Estate Final Exam Questions and Answers Already Passed Which one of the following would not be considered reason to discipline a real estate licensee: Advertising to sale a personal residence Which one of the following would not be considered a prohibited act and reason for loss of license: Failing to pay your personal taxes within the one year time period In accordance with Rule 605:10-17-4, which one of the following would not be considered a prohibited act by the Commission and reason for loss of license: Suggesting to a buyer that they check multiple lenders in an effort to obtain the lowest cost loan on the property What is meant by the term "summary suspension of license": Emergency action that can be taken by the Commission against a licensee who has caused harm to the public health, safety or welfare of a consumer When a complaint is filed against a licensee, the Commission sends notice to the licensee and requires the licensee to respond to the complaint within a defined number of days. The Commission has a rule that defines what constitutes actual notice to the licensee. Select the correct answer in regard to actual notification in the complaint process: Notice is deemed to have been given at the time that notice is deposited in the United States mail and is mailed to the last known address of the licensee When a person practices real estate without a valid real estate license, such person can be penalized by which one of the following: Both the Real Estate Commission and the District Attorney If you are providing brokerage services to BOTH parties, WRITTEN notice must be provided to both parties that the broker is: providing brokerage services to both parties. Yard signs must contain the name or trade name of which one of the following: The broker's name or trade name and office telephone number All of the following are true advertising requirements that pertain to a licensee when they purchase property as an owner or purchase property as a direct employee of the owner except: When a licensee sells their own personal property, the licensee must include their broker's name or trade name and office telephone number Which one of the following statements is incorrect relating to complaints filed at the Real Estate Commission: A complaint filed at the Commission is automatically submitted to the licensee's local board A notice for a formal hearing is sent from the Commission to a licensee in what form: Certified mail Select the correct sentence in regard to Oklahoma law pertaining to broker relationships: A licensee shall not be an agent, subagent or dual agent and an offer of subagency shall not be made to another firm How many days does a landlord have to remedy an item that has a material effect on the health or safety of the tenant: 14 Psychologically impacted real estate has been defined in Oklahoma as any property identified with the existence of certain circumstances that may create emotional disturbance or concerns to a prospective purchaser. Identify a circumstance that would be considered as a psychological factor that may influence a purchaser's decision: Property was the site of a suicide, homicide or other felony All of the following are true statements about team names except: The team may be similar to the broker's name or firm's name A real estate licensee has a duty to disclose in writing to any purchaser which one of the following: any interest the licensee has in property that is being sold A real estate licensee has no duty to disclose information regarding whether a sex offender lives in a particular locale based on which Oklahoma law: Megan's Law (Sex Offender's Registration Act) If approved by the broker, the associate may include all