(Charles Barnes) Real Estate Final
Exam Questions and Answers |
Fall 2025/2026 Update | 100% Correct
Question 1
Which class is protected under the Equal Credit Opportunity Act but not under the
Fair Housing Act? A. Marital Status. B. Sex. C. Ancestry. D. Religion.
Correct Answer
Marital Status.
Question 2
If you engage in the sale of Real Estate before OREC issues your license, what may be
the consequences?
Correct Answer
fine of up to $1,000 or jail of not more than 6 months
Question 3
As an economic product, real estate is unique because
Correct Answer
1- Inherent product value
Question 4
A and B enter into a verbal contract, this is an (5799)
Correct Answer
A: expressed contract. [CORRECT]
Page 1 of 175
,Question 5
In which of the following markets may a lender sell a loan that a mortgage banker has
previously originated?
Correct Answer
B) secondary market (Correct)
Question 6
Which of the following is the best explanation of an option?
Correct Answer
An agreement granting exclusive right to buy, sell, or lease property at a given price
within a stated period of time.
Question 7
A scale drawing shows a room to be 3 inches by 4 and a half inches. Carpet, which is
$15 per square yard, is to be installed in the room. If the scale is 1 inch to 4 feet, how
much would it cost to install the carpet?
Correct Answer
$360
At $10 per square foot, the tenant's base rent is $30,000. Since the total rent was
$60,000, that means the remaining $30,000 was due to the gross sales percentage.
Since that figure is 8%, simply divide $30,000 by .08 to arrive at $375,000.
Question 8
The listing broker has a fiduciary responsibility to
Correct Answer
the seller
Page 2 of 175
,Question 9
How does the Code define Real Estate Broker?
Correct Answer
Any person, partnership, association or corporation, foreign or domestic, who for a
fee, commission or other valuable consideration, lists, sells or offers to sell, buy or
offers to buy, exchanges, rents or leases any real estate, or who negotiates or
attempts to negotiate any such activity, or solicits listing of places for rent or lease,
or solicits for prospective tenants, purchasers or sellers, or who advertises or holds
himself out as engaged in such activites
Question 10
When may a license begin conducting real estate business? 605:10-7-1
Correct Answer
Must be issued your number active license certificate.
Question 11
It may be cause for suspension or revocation of license to A. list a property for less
than the seller\'s purchase price. B. guarantee future profits from resale of real estate.
C. not tell a prospective buyer that a convicted sex offender lives next door. D. sell a
property for less than the seller\'s purchase price.
Correct Answer
guarantee future profits from resale of real estate.
Question 12
The Oklahoma Residential Landlord and Tenant Act does not govern (6588)
Correct Answer
INSTITUTIONS-IS CORRECT
Question 13
A receives a sales associate license, A's license will expire (5908)
Correct Answer
3 years--(36 months)
Page 3 of 175
, Question 14
Alber received a deed from Ben who is the grantor and the deed contains no
warranties. This deed is called a
Correct Answer
Quitclaim deed
Question 15
What does OREC say about an office in a broker's residence? 605:10-9-1
Correct Answer
The office may be in the residence of a broker.
Question 16
Any agreement between two or more brokers in competition with one another to fix,
control, regulate, increase, decrease or stabilize fees, rates, commissions or other
prices
Correct Answer
All of the above
Question 17
A sales associate who relies on representations of the seller, if there is reason to
suspect that the information is not true (6560)
Correct Answer
A: could be guilty of negligent misrepresentation. [CORRECT]
Question 18
Drafts and revisions of real estate purchases contract forms are created by
Correct Answer
The Oklahoma Real Estate Contract FORM Committee
Page 4 of 175
Exam Questions and Answers |
Fall 2025/2026 Update | 100% Correct
Question 1
Which class is protected under the Equal Credit Opportunity Act but not under the
Fair Housing Act? A. Marital Status. B. Sex. C. Ancestry. D. Religion.
Correct Answer
Marital Status.
Question 2
If you engage in the sale of Real Estate before OREC issues your license, what may be
the consequences?
Correct Answer
fine of up to $1,000 or jail of not more than 6 months
Question 3
As an economic product, real estate is unique because
Correct Answer
1- Inherent product value
Question 4
A and B enter into a verbal contract, this is an (5799)
Correct Answer
A: expressed contract. [CORRECT]
Page 1 of 175
,Question 5
In which of the following markets may a lender sell a loan that a mortgage banker has
previously originated?
Correct Answer
B) secondary market (Correct)
Question 6
Which of the following is the best explanation of an option?
Correct Answer
An agreement granting exclusive right to buy, sell, or lease property at a given price
within a stated period of time.
Question 7
A scale drawing shows a room to be 3 inches by 4 and a half inches. Carpet, which is
$15 per square yard, is to be installed in the room. If the scale is 1 inch to 4 feet, how
much would it cost to install the carpet?
Correct Answer
$360
At $10 per square foot, the tenant's base rent is $30,000. Since the total rent was
$60,000, that means the remaining $30,000 was due to the gross sales percentage.
Since that figure is 8%, simply divide $30,000 by .08 to arrive at $375,000.
Question 8
The listing broker has a fiduciary responsibility to
Correct Answer
the seller
Page 2 of 175
,Question 9
How does the Code define Real Estate Broker?
Correct Answer
Any person, partnership, association or corporation, foreign or domestic, who for a
fee, commission or other valuable consideration, lists, sells or offers to sell, buy or
offers to buy, exchanges, rents or leases any real estate, or who negotiates or
attempts to negotiate any such activity, or solicits listing of places for rent or lease,
or solicits for prospective tenants, purchasers or sellers, or who advertises or holds
himself out as engaged in such activites
Question 10
When may a license begin conducting real estate business? 605:10-7-1
Correct Answer
Must be issued your number active license certificate.
Question 11
It may be cause for suspension or revocation of license to A. list a property for less
than the seller\'s purchase price. B. guarantee future profits from resale of real estate.
C. not tell a prospective buyer that a convicted sex offender lives next door. D. sell a
property for less than the seller\'s purchase price.
Correct Answer
guarantee future profits from resale of real estate.
Question 12
The Oklahoma Residential Landlord and Tenant Act does not govern (6588)
Correct Answer
INSTITUTIONS-IS CORRECT
Question 13
A receives a sales associate license, A's license will expire (5908)
Correct Answer
3 years--(36 months)
Page 3 of 175
, Question 14
Alber received a deed from Ben who is the grantor and the deed contains no
warranties. This deed is called a
Correct Answer
Quitclaim deed
Question 15
What does OREC say about an office in a broker's residence? 605:10-9-1
Correct Answer
The office may be in the residence of a broker.
Question 16
Any agreement between two or more brokers in competition with one another to fix,
control, regulate, increase, decrease or stabilize fees, rates, commissions or other
prices
Correct Answer
All of the above
Question 17
A sales associate who relies on representations of the seller, if there is reason to
suspect that the information is not true (6560)
Correct Answer
A: could be guilty of negligent misrepresentation. [CORRECT]
Question 18
Drafts and revisions of real estate purchases contract forms are created by
Correct Answer
The Oklahoma Real Estate Contract FORM Committee
Page 4 of 175
