OKLAHOMA REAL ESTATE UPDATED EXAM SET
QUESTIONS AND ANSWERS SURE A+
✔✔OREC has the authority and duty to perform what acts or tasks? - ✔✔OREC has the
authority to perform:
-Promulgate Rules, prescribe administrative fees, and make rules necessary to perform
of its duties
-Administer license requirements
-sell computer testing and licensing applications
-Issue Real Estate Licenses
-Regulate the activities of licensed real estate professionals
✔✔OREC also has the authority to DISCIPLINE licensees, instructors, Real Estate
schools by doing what? - ✔✔OREC can discipline by doing:
-reprimand
-probation
additional educational requirements
-license suspension or revocation
-fine
-disciplinary proceeding
-penalty for late license renewal
-approve instructors and organizations offering courses of study in real estate
✔✔All acts PERFORMED by a Broker Associate or a Provisional Sales Associate under
the provisions of the Real Estate License Code must be done under who's name? -
✔✔The ACTS of the Broker Associate and the Provisional Sales Associate must be
done UNDER the name of the ASSOCIATE'S BROKER
-Associates cannot enter into an agreement in the name of the associate, only the name
OF THE BROKER
✔✔A real estate broker may authorize associates to provide brokerage services in the
name of the broker as permitted under the OREC CODE, but must include what? -
✔✔Must include the execution of written agreements
✔✔An associate is prohibited from working for more than one broker at the same time,
UNLESS what? - ✔✔UNLESS the Associate's broker agreed to loan the associate to
another broker for a specific duty to be performed
, ✔✔Usually the specific duty to be performed are what? - ✔✔-Sitting at an open house
-calling an auction or performing other auction related duties
-any other specific duty as requested in writing and approved by the OREC
✔✔Who is responsible for acts performed by the associate while the associate is
performing duties for another broker? - ✔✔THE EMPLOYING BROKER, the broker that
is ok with lending the associate to another broker
✔✔If there is an unlicensed associate, who is responsible for the unlicensed associate?
- ✔✔The ASSOCIATE is responsible
✔✔Each associate's license will be issued to whom? - ✔✔The associate's BROKER,
who will keep custody of the license
✔✔Upon an associate leaving the association of the broker, what must happen to his or
her license? - ✔✔THE LICENSE must be returned to the COMMISSION, WITH A
RELEASE executed by the broker
✔✔Any change of association from one firm to the another, or relocation from one office
to another within a firm by an associate must be filed in the COMMISSION office within
how many days? - ✔✔10 DAYS!!
✔✔If an active associate transferring from one broker to a new broker may continually
act if the change is done in a timely manner and in compliance with a how many days
notification requirements? - ✔✔10 days notification compliance
✔✔An associate is required to notify the Commission office of any change in his or her
current home address within how many days of change? - ✔✔10 days!
✔✔OREC has established license requirements for obtaining a broker or broker's
associate license. Each applicant for a BROKER or BROKERS ASSOCIATE License
must have what? - ✔✔-Be a person of good more character
-Hold a renewable sales associate or provisional sales associate license and have had
two year's experience, within the previous five years, as a licensed sales agent
-Successfully complete the NINETY HOUR (90) clock hours of approved coursework
(this education is valid for 3 YEARS after the school has certified completion)
-Make application on approved OREC forms submitted with the proper examination fee
-Appear in Person to take and successfully complete a real estate license exam
Submit to a national criminal history record check
QUESTIONS AND ANSWERS SURE A+
✔✔OREC has the authority and duty to perform what acts or tasks? - ✔✔OREC has the
authority to perform:
-Promulgate Rules, prescribe administrative fees, and make rules necessary to perform
of its duties
-Administer license requirements
-sell computer testing and licensing applications
-Issue Real Estate Licenses
-Regulate the activities of licensed real estate professionals
✔✔OREC also has the authority to DISCIPLINE licensees, instructors, Real Estate
schools by doing what? - ✔✔OREC can discipline by doing:
-reprimand
-probation
additional educational requirements
-license suspension or revocation
-fine
-disciplinary proceeding
-penalty for late license renewal
-approve instructors and organizations offering courses of study in real estate
✔✔All acts PERFORMED by a Broker Associate or a Provisional Sales Associate under
the provisions of the Real Estate License Code must be done under who's name? -
✔✔The ACTS of the Broker Associate and the Provisional Sales Associate must be
done UNDER the name of the ASSOCIATE'S BROKER
-Associates cannot enter into an agreement in the name of the associate, only the name
OF THE BROKER
✔✔A real estate broker may authorize associates to provide brokerage services in the
name of the broker as permitted under the OREC CODE, but must include what? -
✔✔Must include the execution of written agreements
✔✔An associate is prohibited from working for more than one broker at the same time,
UNLESS what? - ✔✔UNLESS the Associate's broker agreed to loan the associate to
another broker for a specific duty to be performed
, ✔✔Usually the specific duty to be performed are what? - ✔✔-Sitting at an open house
-calling an auction or performing other auction related duties
-any other specific duty as requested in writing and approved by the OREC
✔✔Who is responsible for acts performed by the associate while the associate is
performing duties for another broker? - ✔✔THE EMPLOYING BROKER, the broker that
is ok with lending the associate to another broker
✔✔If there is an unlicensed associate, who is responsible for the unlicensed associate?
- ✔✔The ASSOCIATE is responsible
✔✔Each associate's license will be issued to whom? - ✔✔The associate's BROKER,
who will keep custody of the license
✔✔Upon an associate leaving the association of the broker, what must happen to his or
her license? - ✔✔THE LICENSE must be returned to the COMMISSION, WITH A
RELEASE executed by the broker
✔✔Any change of association from one firm to the another, or relocation from one office
to another within a firm by an associate must be filed in the COMMISSION office within
how many days? - ✔✔10 DAYS!!
✔✔If an active associate transferring from one broker to a new broker may continually
act if the change is done in a timely manner and in compliance with a how many days
notification requirements? - ✔✔10 days notification compliance
✔✔An associate is required to notify the Commission office of any change in his or her
current home address within how many days of change? - ✔✔10 days!
✔✔OREC has established license requirements for obtaining a broker or broker's
associate license. Each applicant for a BROKER or BROKERS ASSOCIATE License
must have what? - ✔✔-Be a person of good more character
-Hold a renewable sales associate or provisional sales associate license and have had
two year's experience, within the previous five years, as a licensed sales agent
-Successfully complete the NINETY HOUR (90) clock hours of approved coursework
(this education is valid for 3 YEARS after the school has certified completion)
-Make application on approved OREC forms submitted with the proper examination fee
-Appear in Person to take and successfully complete a real estate license exam
Submit to a national criminal history record check
