OKLAHOMA REAL ESTATE FINAL EXAM UPDATED
QUESTIONS AND ANSWERS SURE A+
✔✔OREC has also established license requirements for Provisional Sales Associate
License. Each applicant of a Provisional Sales Associate must what? - ✔✔- must be of
good moral character, eighteen years or older
-Successfully complete 90 ninety clock hours of approved coursework ( this education is
valid for three 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 a national Criminal History Record Check
✔✔Once the applicant has passed the examination, received final approval of the
application, and paid the appropriate license fee along with the OREC Education and
Recovery Fund fee, the Commission will then what? - ✔✔ISSUE THE LICENSE
✔✔After a provisional sales associate license is issued, the licensee is required to
successfully complete what? - ✔✔Complete the 45 Hour of post-license education prior
to the first license expiration date
✔✔What are the entities that are excluded from the state's real estate license
requirements? - ✔✔-Any party that acquires and or sells real estate based on its OWN
USE
-any entity acting as an attorney-in-fact for the owner or acting for a legally appointed
Trustee
-any resident manager hired by the owner or employed by the broker that is engaged in
leasing the property
-any person engaged by a corporation or governmental body to acquire easements,
right-of-way, leases, permits, or licenses
-any person hired to acquire real estate via eminent domain
-any resident that receives one hundred dollars or less as a "resident referral fee"
-any person managing a transient lodging facility
-any employee working for a broker that manages a state or federal housing subsidized
unit
, ✔✔What are the OREC ADVERTISING requirements and prohibitions? - ✔✔-a broker
must use the registered business trade name or the name under which the broker is
licensed
-yard signs must include the broker's office telephone number and not be used as a
"shill" marketing tool
-advertisement must indicate that the party is a real estate broker and not a private
party
-firm advertisement must include "agency", "company", "realty", or "real estate" as the
case may be. Legible legal abbreviations are acceptable
-an advertisement is prohibited that is misleading or inaccurate and misrepresents any
property, terms, values, services, or policies
-No property can be advertised for sale, rent, lease, or exchange, unless the broker has
first secured the permission of the owner and has a definite date of expiration
-Social Networking advertisement requires licensees to indicate their license status and
include their broker's reference contact information
✔✔OREC has established the following advertising requirements and prohibitions for
Associates they are? - ✔✔-An associate is prohibited from advertising under ONLY the
associate's name
-All advertising must be under the direct supervision of the associate's Broker
-The associate must include the name of the associate's broker or the name under
which the broker operates
✔✔If approved by the associate's broker, the associate is allowed to use what? - ✔✔-
personal nickname or alias
-team name
-slogan
-broker's registered domain/website name
-associate's contact informational yard sign, provided the registered name or trade
name and office telephone number of the broker is included
-generic open house/directional sign when used in conjunction with broker's signs
✔✔T/F
A licensee is required to disclose in writing on all documents pertaining to a real estate
transaction and in all advertisement that he or she is licensed - ✔✔TRUE
QUESTIONS AND ANSWERS SURE A+
✔✔OREC has also established license requirements for Provisional Sales Associate
License. Each applicant of a Provisional Sales Associate must what? - ✔✔- must be of
good moral character, eighteen years or older
-Successfully complete 90 ninety clock hours of approved coursework ( this education is
valid for three 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 a national Criminal History Record Check
✔✔Once the applicant has passed the examination, received final approval of the
application, and paid the appropriate license fee along with the OREC Education and
Recovery Fund fee, the Commission will then what? - ✔✔ISSUE THE LICENSE
✔✔After a provisional sales associate license is issued, the licensee is required to
successfully complete what? - ✔✔Complete the 45 Hour of post-license education prior
to the first license expiration date
✔✔What are the entities that are excluded from the state's real estate license
requirements? - ✔✔-Any party that acquires and or sells real estate based on its OWN
USE
-any entity acting as an attorney-in-fact for the owner or acting for a legally appointed
Trustee
-any resident manager hired by the owner or employed by the broker that is engaged in
leasing the property
-any person engaged by a corporation or governmental body to acquire easements,
right-of-way, leases, permits, or licenses
-any person hired to acquire real estate via eminent domain
-any resident that receives one hundred dollars or less as a "resident referral fee"
-any person managing a transient lodging facility
-any employee working for a broker that manages a state or federal housing subsidized
unit
, ✔✔What are the OREC ADVERTISING requirements and prohibitions? - ✔✔-a broker
must use the registered business trade name or the name under which the broker is
licensed
-yard signs must include the broker's office telephone number and not be used as a
"shill" marketing tool
-advertisement must indicate that the party is a real estate broker and not a private
party
-firm advertisement must include "agency", "company", "realty", or "real estate" as the
case may be. Legible legal abbreviations are acceptable
-an advertisement is prohibited that is misleading or inaccurate and misrepresents any
property, terms, values, services, or policies
-No property can be advertised for sale, rent, lease, or exchange, unless the broker has
first secured the permission of the owner and has a definite date of expiration
-Social Networking advertisement requires licensees to indicate their license status and
include their broker's reference contact information
✔✔OREC has established the following advertising requirements and prohibitions for
Associates they are? - ✔✔-An associate is prohibited from advertising under ONLY the
associate's name
-All advertising must be under the direct supervision of the associate's Broker
-The associate must include the name of the associate's broker or the name under
which the broker operates
✔✔If approved by the associate's broker, the associate is allowed to use what? - ✔✔-
personal nickname or alias
-team name
-slogan
-broker's registered domain/website name
-associate's contact informational yard sign, provided the registered name or trade
name and office telephone number of the broker is included
-generic open house/directional sign when used in conjunction with broker's signs
✔✔T/F
A licensee is required to disclose in writing on all documents pertaining to a real estate
transaction and in all advertisement that he or she is licensed - ✔✔TRUE
