OKLAHOMA REAL ESTATE LATEST UPDATED 2025/2026 TEST WITH COMPLETE QUESTIONS AND SURE VERIFIED SOLUTIONS 100% GRADED AT A+ SCORE!! SURE GUARANTEED PASS!!

OKLAHOMA REAL ESTATE LATEST UPDATED 2025/2026 TEST WITH COMPLETE QUESTIONS AND SURE VERIFIED SOLUTIONS 100% GRADED AT A+ SCORE!! SURE GUARANTEED PASS!! Prices tend to drop - ANSWER In general, when the supply of a certain commodity increases Heterogeneity - ANSWER The fact that no two parcels of land can occupy the same location gives land the characteristic of Is considered permanent, fixed, and immovable. - ANSWER As distinguished from personal property, real property Improvements - ANSWER Man-made permanent additions to land are called Capital & Labor - ANSWER When improving land, which of the following expenditures represents a fixed investment The real estate market is subject to - ANSWER The cyclic changes in the national economy & the law of supply and demand Financing,Contracts & Valuation - ANSWER The typical real estate licensee must have specialized knowledge of a variety of subjects which include of the following Oklahoma Real Estate Commission(OREC) - ANSWER The regulatory body established by the legislature and empowered to carry out the provisions of the Oklahoma Real Estate License Code Owners of real estate handling their own property, or delegating such right to an attorney-in-fact. - ANSWER Which of the following is usually exempt from real estate licensure? FICA tax, State unemployment tax & Federal income tax withheld - ANSWER When brokers hire associates as employees, they are responsible for paying which of the following on behalf of the associates? Independent contractors - ANSWER Persons who are only responsible to their employer for the results of their work Which of the following is an accurate statement regarding a successful career in real estate? - ANSWER A successful career in real estate is based on ethical conduct and service to others. A successful career in real estate is based on knowledge of a great variety of subjects. Clients - ANSWER The NAR Code of Ethics reflects the relations of the licensee to public, licensee to fellow brokers and licensee to only members of NAR - ANSWER The term REALTOR is a registered trademark term and can be used by ARELLO - ANSWER Association of Real Estate License Law Officials Home sales - ANSWER The largest number of licensed people in the real estate industry are in involved in Tenant relations, maintenance of property, negotiations - ANSWER Property managers must be skilled in Insurance - ANSWER In Oklahoma, appraisers are licensed or certified by the Appraisal Board, administered under the Oklahoma Department of Local Governments - ANSWER Urban planners usually have an appropriate degree and employed by Manage property belonging to another & sell property belonging to another - ANSWER Which is usually not exempt from real estate licensure? Commission splits - ANSWER May vary after meeting certain production goals Administrative Law - ANSWER Which specialized type of law sets forth the ground rules by which the Commission must function to ensure orderly procedures and equal treatment for all. Sell their computer testing system to other states - ANSWER The OREC has the power to 4 - ANSWER How many years are the Oklahoma Real Estate Commissioners appointed to serve? Primarily African Americans & Minority real estate licensees - ANSWER The National Association of Real Estate Brokers was established in 1947 (NAREB). Its members are REALTISTS The main emphasis of ARELLO is the - ANSWER Exchange of information, exchange of ideas regarding licensing, regulation and adoption of similar policies and standards for all states. CCIM - ANSWER Which association provides in-depth courses for persons interested in learning about commercial real estate? 70% - ANSWER In the United States, about what percentage of the population lives within one hundred miles of a coastal line? Types of mortgages available, interest rates, closing dates - ANSWER For the individual, what factors would weigh heavily in determining an offer price? A parcel of real property may include - ANSWER Land and improvements. mineral rights, trees,houses and septic tanks. Airspace, surface, and ground beneath the surface. To use, sell, or lease the property. To enter, give away, or do nothing with the property. - ANSWER Which of the following are ownership rights as contemplated by the "bundle of rights"? Right of unrestricted use. - ANSWER Which of the following is NOT one of the "bundles of rights"? Right of Possession Rights of Enjoyment Rights of Disposition - ANSWER Which of the following are "Bundles of Rights"? Non-Navigable rivers & streams - ANSWER Riparian rights relate to the use and ownership of water in Littoral Rights - ANSWER The right to the water and ownership of the land up to the tire high-water mark of land abutting or bordering navigable bodies are Mobility - ANSWER Personal property is most easily distinguished from real property by its Personal property - ANSWER Owners are building a new enclosed front porch on a home. The lumber dealer with whom they are contracting has just unloaded a truckload of lumber in the front of their house that will be used to build the porch. At this point the lumber is considered to be Crops produced annually by labor and industry - ANSWER In discussing the terms of the sale, a licensee makes reference to emblements. This has to do with The adaptation of the the item to the premises. An agreement between the parties involved. The intention of the parties. - ANSWER Which of the following tests would be used to determine if an item of personal property has become a fixture and, thus real property? Air space located over a city airport. A bush planted in the ground. Mineral rights that have been reserved by the grantors. - ANSWER It is important to be able to distinguish between real & personal property. Real property would be Prior Appropriation Riparian Littoral - ANSWER Which of the following pertains to water rights? Size of the item - ANSWER All of the following are tests for determining a fixture EXCEPT Intent of the parties Method of attachment of the item Adaptation of the item to the particular real estate - ANSWER All of the following are tests for determining a fixture Heterogeneity - ANSWER Two major physical characteristics of land are "fixed location" and "indestructibility". The third is Value - ANSWER Which of the following is NOT a test for fixtures? Intention Attachment Adaptation - ANSWER Which of the following are test for fixtures? Area preference - ANSWER What does the economic characteristic of situs refer to? Bundle of Rights - ANSWER The rights of ownership, including the right to use, possess, enjoy,and dispose of in any legal way, and to exclude everyone else without rights from interfering is Fixtures - ANSWER Which of the following is NOT described as personal property? Chattels Trade fixtures Emblements - ANSWER Which of the following is described as personal property? Trade fixtures - ANSWER Certain items on the premises that are installed by the tenant and are related and to the tenant's business are called Uniqueness - ANSWER Which of the following is NOT an economic characteristic of land? Scarcity Permanence of investment Area preference - ANSWER Which of the following is an economic characteristic of land?