Oklahoma Brokers Exam Questions With 100% Correct Answers.

"A" sold his home for $26,500 to "B" who agreed to assume the existing mortgage of $25,950. Give the cost of documentary tax stamps "A" would be required to place on the deed - $39.75 A and B have entered into a contract. In order for this contract to be enforceable, the contract - (search) must be entered into by competent parties, for legal purposes and in writing A and B on a house. Have to own the house for 2 years, a decides he wants to sell his interest in the property A and B on the house under the following form of ownership - tenancy in common (research) a broker May operate with other brokers in a transaction, under sections 858 - 351 through 858 - 363 all the Oklahoma real estate license code. However - a broker shall not be an agent, sub-agent, or dual agent and an offer of the sub-agencies shall not be made to other brokers A broker must notify the Oklahoma Real Estate Commission of their trust account(s), how many trust accounts can a Broker have.... - Unlimited A broker shall maintain all records and files for a minimum of - 5 years a broker who is duly licensed in another state and who has not obtained a Oklahoma non-resident license may enter & Cooperative brokerage agreement with - a license real estate broker in this state a contract that transfers possession but not ownership is a - lease a deed that passes any title the grantor has not contains no warranty is called a - quitclaim deed a good way to determine if violations or encroachments exist is to - (Research)a has his real estate license revoked it by the Oklahoma Real Estate Commission. How many days does a have to turn in his pocket card - on or before the date of suspension/revocation because becomes effective a house is sold for $150,000. How much will the documentary - $225 A husband & wife own a piece of property that measures 1mile by 1 mile. The couple owns how many acres? - 640 a husband and wife own a piece of property that measures 1 mile by 1 mile. The couple owns how many acres - 640 a is a licensed real estate broker and should reveal her license that is under which of the following conditions - in any real estate transaction A is involved with a is a real estate broker and changes her name. When must a report this change the Oklahoma Real Estate Commission - within 10 business days A is a resident manager for a local apartment complex & is responsible for negotiating leases for the apartment complex. A is - Not violating the law because A is Exempt a license real estate associate may receive a commission from a broker other than their sponsoring broker under which of the following conditions? - research, under no circumstances a licensee who was engaged in license activity through social networking mediums must - indicate their license status and include their Brokers reference as required in the code and rules a person is not required to hold a real estate license to - research, advertise to rent a neighbor's home a person is not required to hold a real estate license to - sell property he/she owns duplicate question, may also be a resident manager for the owner of a multi-family apartment buildinga person who has secured the right to purchase a property at a fixed rate price for a designated period of time and has paid a consideration for his privilege - option a puts a fence between his and bees property. He discovers that the fence is three feet on his side of the property line. This is a term of - encroachment