OK Real Estate Test (PSI Test Questions) Questions
and Verified Answers | Accurate Solutions | Get it
100% Correct!! | Already Graded A
A property owner in a development is required to have a shake roof.
This requirement is most likely to come from - ✔✔ANSWER✔✔->>A
deed restriction.
A borrower grosses $4,000 per month and pays $600 monthly for debt
obligations. What monthly payment for housing expenses (principal,
interest, taxes, insurance) can this person afford based on an FHA debt
ratio of 41%? - ✔✔ANSWER✔✔->>$1,040
What must an associate include in all advertising? - ✔✔ANSWER✔✔-
>>associate's Broker's name
,Real Estate described as the NE 1/4 of the SW 1/4 of Section 4,
Township 3 North, Range 2 East of the Cimarron Meridian would be
which legal description? - ✔✔ANSWER✔✔->>Rectangular survey
One member of the Oklahoma Real Estate Commission is set aside for
A. a layman B. a lawyer. C. a member of the OAR. D. none of the above.
- ✔✔ANSWER✔✔->>layman
Any real estate broker who charges and collects any fees in advance of
the services provided by the broker shall provide a detailed accounting
of expenditures to the person such services are performed for within A.
15 days after the time specified to perform such services or upon
written request from person for whom services are performed for, but
no longer than one year from date of contract for such services. B. 2
days after the time specified to perform such services or upon written
request from person for whom services are performed for, but no
longer than one year from date of contract for such services. C. 10 days
after the time specified to perform such services or upon written
request from person for whom services are performed for, but no
longer than one year from date of contract for such services. D. 5 days
after the time specified to perform such services or upon written
request from person for whom servi - ✔✔ANSWER✔✔->>10 days after
the time specified to perform such services or upon written request
from person whom services are performed for, but no longer than one
year from date of contract for such services.
,A release clause in a mortgage - ✔✔ANSWER✔✔->>Allows portions of
the property, given as security, to be released from the mortgage lien
upon performance of a specified act
The minimum age to get a Provisional Real Estate License in Oklahoma
is? - ✔✔ANSWER✔✔->>18 years of age or older
The seller makes a counteroffer. The Buyer accepts and decides to reply
using "snail mail". When is a valid purchase contract created using the
post office? - ✔✔ANSWER✔✔->>When the offeree puts the
acceptance in the mail.
Title insurance is always paid... - ✔✔ANSWER✔✔->>By the buyer.
The revolving fund is under the management of? - ✔✔ANSWER✔✔-
>>The Oklahoma Real Estate Commission (OREC)
Under what condition can confidential info be released? -
✔✔ANSWER✔✔->>The party gives consent to the disclosure in
writing.
When a form of real estate sales contract has been agreed to and
signed by the purchasers and given to the seller's broker with an
earnest money check, - ✔✔ANSWER✔✔->>this transaction is
considered an offer.
, A provisional sales associate is - ✔✔ANSWER✔✔->>allowed to enter
into an agreement in the name of the real estate broker.
The taxable income from an investment property is estimated by using
which of the following formulas? - ✔✔ANSWER✔✔->>Net income
minus interest and depreciation
You list a lot which is 170 feet by 300 feet. How many acres are in the
lot? - ✔✔ANSWER✔✔->>1.17 acres
You sell a lot which is 75 feet by 145 feet. What part of an acre is it? -
✔✔ANSWER✔✔->>1/4 acre
The supreme power inherent in the state to take land from the owner
by due process of law when necessary for the states use in the public
welfare is - ✔✔ANSWER✔✔->>eminent domain
Claire, who is a real estate broker, closes her office. Claire -
✔✔ANSWER✔✔->>Must terminate all advertising in the name of her
firm and offering signs must be removed within 30 days.
Which of the following deeds would be most preferred by the buyer? -
✔✔ANSWER✔✔->>General warranty deed
and Verified Answers | Accurate Solutions | Get it
100% Correct!! | Already Graded A
A property owner in a development is required to have a shake roof.
This requirement is most likely to come from - ✔✔ANSWER✔✔->>A
deed restriction.
A borrower grosses $4,000 per month and pays $600 monthly for debt
obligations. What monthly payment for housing expenses (principal,
interest, taxes, insurance) can this person afford based on an FHA debt
ratio of 41%? - ✔✔ANSWER✔✔->>$1,040
What must an associate include in all advertising? - ✔✔ANSWER✔✔-
>>associate's Broker's name
,Real Estate described as the NE 1/4 of the SW 1/4 of Section 4,
Township 3 North, Range 2 East of the Cimarron Meridian would be
which legal description? - ✔✔ANSWER✔✔->>Rectangular survey
One member of the Oklahoma Real Estate Commission is set aside for
A. a layman B. a lawyer. C. a member of the OAR. D. none of the above.
- ✔✔ANSWER✔✔->>layman
Any real estate broker who charges and collects any fees in advance of
the services provided by the broker shall provide a detailed accounting
of expenditures to the person such services are performed for within A.
15 days after the time specified to perform such services or upon
written request from person for whom services are performed for, but
no longer than one year from date of contract for such services. B. 2
days after the time specified to perform such services or upon written
request from person for whom services are performed for, but no
longer than one year from date of contract for such services. C. 10 days
after the time specified to perform such services or upon written
request from person for whom services are performed for, but no
longer than one year from date of contract for such services. D. 5 days
after the time specified to perform such services or upon written
request from person for whom servi - ✔✔ANSWER✔✔->>10 days after
the time specified to perform such services or upon written request
from person whom services are performed for, but no longer than one
year from date of contract for such services.
,A release clause in a mortgage - ✔✔ANSWER✔✔->>Allows portions of
the property, given as security, to be released from the mortgage lien
upon performance of a specified act
The minimum age to get a Provisional Real Estate License in Oklahoma
is? - ✔✔ANSWER✔✔->>18 years of age or older
The seller makes a counteroffer. The Buyer accepts and decides to reply
using "snail mail". When is a valid purchase contract created using the
post office? - ✔✔ANSWER✔✔->>When the offeree puts the
acceptance in the mail.
Title insurance is always paid... - ✔✔ANSWER✔✔->>By the buyer.
The revolving fund is under the management of? - ✔✔ANSWER✔✔-
>>The Oklahoma Real Estate Commission (OREC)
Under what condition can confidential info be released? -
✔✔ANSWER✔✔->>The party gives consent to the disclosure in
writing.
When a form of real estate sales contract has been agreed to and
signed by the purchasers and given to the seller's broker with an
earnest money check, - ✔✔ANSWER✔✔->>this transaction is
considered an offer.
, A provisional sales associate is - ✔✔ANSWER✔✔->>allowed to enter
into an agreement in the name of the real estate broker.
The taxable income from an investment property is estimated by using
which of the following formulas? - ✔✔ANSWER✔✔->>Net income
minus interest and depreciation
You list a lot which is 170 feet by 300 feet. How many acres are in the
lot? - ✔✔ANSWER✔✔->>1.17 acres
You sell a lot which is 75 feet by 145 feet. What part of an acre is it? -
✔✔ANSWER✔✔->>1/4 acre
The supreme power inherent in the state to take land from the owner
by due process of law when necessary for the states use in the public
welfare is - ✔✔ANSWER✔✔->>eminent domain
Claire, who is a real estate broker, closes her office. Claire -
✔✔ANSWER✔✔->>Must terminate all advertising in the name of her
firm and offering signs must be removed within 30 days.
Which of the following deeds would be most preferred by the buyer? -
✔✔ANSWER✔✔->>General warranty deed
