OKLAHOMA REAL ESTATE PORTION PSI
EXAM WITH ANSWERS.
is any property where the existence of certain
circumstances, suspicions or facts may create emotional or psychological
disturbance or concerns to a prospective purchaser/lessee, with the potential
of influencing a buying/leasing decision - correct answer -Psychologically
Impacted property
In order to inform the purchaser/lessee about a Psychologically Impacted
Property, what must happen? - correct answer -1) Purchaser must be in the
process of making a BONA FIDE offer
2) Licensee must receive request in writing from purchaser/ lessee
3) Purchaser's written request must state that such factor is important
to the decision of the purchaser
4) Licensee shall make inquiry of the owner by submitting the written
request to the owner
5) Licensee shall report any findings to the purchaser with consent
of the owner
6) If the owner refuses, then the licensee shall advise the
purchaser/lessee
,A complaint alleging misconduct on the part of a license or any person
unlicensed pursuant to the CODE who violates the CODE, must be filed and
submitted to who? - correct answer -TO THE COMMISSION
When a complaint has been filed the licensee or unlicensed person pursuant to
the CODE shall be immediately notified and shall be required to do what? -
correct answer -Required to file an adequate written response within fifteen
(15) days of the notice
What happens subsequent to the fifteen day answer period? - correct answer
-A field investigation or preliminary investigative session may be conducted
to ascertain whether or not charges should be lodged and a formal hearing
ordered
A suspended/revoked licensee must return their license certificate and pocket
identification card to the Commission when? - correct answer -ON THE DATE
or BEFORE THE DATE the suspension/revocation becomes effective.
If a broker's license is suspended/revoked what happens to the associates
underneath them? - correct answer -The Associates license becomes
INACTIVE for the duration unless the licensee requests to be transferred to
another broker
What happens to the listings of a suspended/revoked broker? - correct
, answer -The LISTING BECOME VOID and the broker must cancel the
listing between the time of the ORDER of suspension is received and the
effective date of suspension
A broker can assign listings to other brokers when they are suspended but
must do what? - correct answer -MUST NOTIFY THE COMMISSION
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
EXAM WITH ANSWERS.
is any property where the existence of certain
circumstances, suspicions or facts may create emotional or psychological
disturbance or concerns to a prospective purchaser/lessee, with the potential
of influencing a buying/leasing decision - correct answer -Psychologically
Impacted property
In order to inform the purchaser/lessee about a Psychologically Impacted
Property, what must happen? - correct answer -1) Purchaser must be in the
process of making a BONA FIDE offer
2) Licensee must receive request in writing from purchaser/ lessee
3) Purchaser's written request must state that such factor is important
to the decision of the purchaser
4) Licensee shall make inquiry of the owner by submitting the written
request to the owner
5) Licensee shall report any findings to the purchaser with consent
of the owner
6) If the owner refuses, then the licensee shall advise the
purchaser/lessee
,A complaint alleging misconduct on the part of a license or any person
unlicensed pursuant to the CODE who violates the CODE, must be filed and
submitted to who? - correct answer -TO THE COMMISSION
When a complaint has been filed the licensee or unlicensed person pursuant to
the CODE shall be immediately notified and shall be required to do what? -
correct answer -Required to file an adequate written response within fifteen
(15) days of the notice
What happens subsequent to the fifteen day answer period? - correct answer
-A field investigation or preliminary investigative session may be conducted
to ascertain whether or not charges should be lodged and a formal hearing
ordered
A suspended/revoked licensee must return their license certificate and pocket
identification card to the Commission when? - correct answer -ON THE DATE
or BEFORE THE DATE the suspension/revocation becomes effective.
If a broker's license is suspended/revoked what happens to the associates
underneath them? - correct answer -The Associates license becomes
INACTIVE for the duration unless the licensee requests to be transferred to
another broker
What happens to the listings of a suspended/revoked broker? - correct
, answer -The LISTING BECOME VOID and the broker must cancel the
listing between the time of the ORDER of suspension is received and the
effective date of suspension
A broker can assign listings to other brokers when they are suspended but
must do what? - correct answer -MUST NOTIFY THE COMMISSION
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
