OKLAHOMA REAL ESTATE BROKER
EXAM CH 18-26 2025 QUESTIONS AND
ANSWERS
A Brick fence straddles the property line of two neighbors. The neighbors agree not to damage
it in any way. This is an example of: - ANS A Party Wall.
A court renders a judgement which authorizes a lien to be placed against the defendant's
house, car and personal belongings. This is an example of - ANS A general judgement lien.
Among junior liens, the order or priority is generally established accordint to - ANS the date
of recordation.
A property owner allows Betty Luanne to cross his property as a shortcut to her kindergarten
school bus. One day the property owner dies. What right was Betty given and what happens to
it in the future? - ANS A license, which terminates at the owner's death.
Which of the following describes a situation in which an easement might be created against the
wishes of the property owner? - ANS The property has been continuously used as an
easement with the knowledge but without the permission of the owner for a period of time.
An affirmative easement gives the benefited party - ANS the right to a defined use of a
portion of another's
real property.
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, An important legal characteristic of an option-to-buy agreement is that - ANS the optionor
must perform if the optionee take the option but the optionee is under no obligation to do so.
Which of the following is true regarding the legal nature of option contracts? - ANS They give
the optinee an Equitable interest in the property.
Which of the following best characterizes a conventional sale contract? - ANS Voluntary,
bilateral, and executory
A sale contract may specifically deal with tax
withholding responsibility if the seller is a foreigner.
What is this responsibility? - ANS The Buyer must withhold 10% of the sale price to pay the
Seller's capital gain tax.
A potential danger in a Contract for Deed is that - ANS Vendee may not have a right of
redemption
Several buyers are competing for the last available
home in a desirable new subdivision. One buyer calls the owner-developer directly on the
phone and offers $10,000 over and above the listed price. The
developer accepts the offer. At this point, - ANS the parties have completed a verbal,
executory contract.
An owner completes a contract to sell her property.
Before closing, the seller runs into financial trouble
and assigns the contract to her principal creditor.
The buyer cries foul, fearing the property will be
lost. Which of the following is true? - ANS The assignor has completed a legal action.
2
A tenant exercises an option to buy a condominium.
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@COPYRIGHT FYNDLAY 2025/2026
EXAM CH 18-26 2025 QUESTIONS AND
ANSWERS
A Brick fence straddles the property line of two neighbors. The neighbors agree not to damage
it in any way. This is an example of: - ANS A Party Wall.
A court renders a judgement which authorizes a lien to be placed against the defendant's
house, car and personal belongings. This is an example of - ANS A general judgement lien.
Among junior liens, the order or priority is generally established accordint to - ANS the date
of recordation.
A property owner allows Betty Luanne to cross his property as a shortcut to her kindergarten
school bus. One day the property owner dies. What right was Betty given and what happens to
it in the future? - ANS A license, which terminates at the owner's death.
Which of the following describes a situation in which an easement might be created against the
wishes of the property owner? - ANS The property has been continuously used as an
easement with the knowledge but without the permission of the owner for a period of time.
An affirmative easement gives the benefited party - ANS the right to a defined use of a
portion of another's
real property.
1Page
@COPYRIGHT FYNDLAY 2025/2026
, An important legal characteristic of an option-to-buy agreement is that - ANS the optionor
must perform if the optionee take the option but the optionee is under no obligation to do so.
Which of the following is true regarding the legal nature of option contracts? - ANS They give
the optinee an Equitable interest in the property.
Which of the following best characterizes a conventional sale contract? - ANS Voluntary,
bilateral, and executory
A sale contract may specifically deal with tax
withholding responsibility if the seller is a foreigner.
What is this responsibility? - ANS The Buyer must withhold 10% of the sale price to pay the
Seller's capital gain tax.
A potential danger in a Contract for Deed is that - ANS Vendee may not have a right of
redemption
Several buyers are competing for the last available
home in a desirable new subdivision. One buyer calls the owner-developer directly on the
phone and offers $10,000 over and above the listed price. The
developer accepts the offer. At this point, - ANS the parties have completed a verbal,
executory contract.
An owner completes a contract to sell her property.
Before closing, the seller runs into financial trouble
and assigns the contract to her principal creditor.
The buyer cries foul, fearing the property will be
lost. Which of the following is true? - ANS The assignor has completed a legal action.
2
A tenant exercises an option to buy a condominium.
Page
@COPYRIGHT FYNDLAY 2025/2026
