Free OK Broker State Practice Questions

Sample Practice Questions

Try these 10 sample questions from the OK Broker State practice bank. Each includes the answer and explanation. Continue with the interactive practice above to review the full question set.

1. 1Which Oklahoma body has exclusive governmental authority to issue real estate licenses?

   1. A. Oklahoma Real Estate Commission
   2. B. Secretary of State
   3. C. Attorney General
   4. D. County clerk

   Answer: A

   Explanation: Section 858-201 states that the Commission is the "sole governmental entity" that issues Oklahoma real estate licenses; therefore OREC is correct.

   Reference: Orec Code Rules (2025) — 59 O.S. § 858-201(A), p. 14

2. 2What baseline conduct does an Oklahoma broker owe every party in a transaction?

   1. A. Obedience and loyalty
   2. B. Honesty and reasonable skill and care
   3. C. Confidentiality only
   4. D. A guaranteed closing

   Answer: B

   Explanation: Section 858-353 requires a broker to "treat all parties with honesty and exercise reasonable skill and care"; that duty applies to all parties.

   Reference: Orec Code Rules (2025) — 59 O.S. § 858-353(A)(1), p. 27

3. 3An owner personally manages and leases the owner's Oklahoma property. Is a real estate license generally required?

   1. A. Yes, for every lease
   2. B. No, the owner exemption applies
   3. C. Only if rent exceeds $1,000
   4. D. Only for residential property

   Answer: B

   Explanation: Section 858-301 permits an owner to perform acts in "the management, ownership, or sales of such real estate"; personal management is exempt.

   Reference: Orec Code Rules (2025) — 59 O.S. § 858-301(1)(c), p. 8

4. 4What knowledge standard governs an Oklahoma seller's property-condition disclosure statement?

   1. A. Constructive knowledge
   2. B. Actual knowledge
   3. C. Knowledge after inspection
   4. D. The licensee's knowledge only

   Answer: B

   Explanation: The Act defines disclosure as a written declaration "based on actual knowledge of the seller"; actual knowledge is the governing standard.

   Reference: Rpcd Act (2025) — 60 O.S. § 832(10), p. 4

5. 5By when must Oklahoma escrow funds generally be deposited after an offeree accepts an offer?

   1. A. End of the next calendar day
   2. B. End of the third banking day
   3. C. Within seven calendar days
   4. D. At closing

   Answer: B

   Explanation: Rule 605:10-13-1 requires deposit "before the end of the third banking day" unless all interested parties agree otherwise in writing.

   Reference: Orec Code Rules (2025) — OAC 605:10-13-1(a)(1)(D), p. 80

6. 6An associate hires an unlicensed assistant. Alongside the associate, which person remains accountable for that assistant's real-estate-related activities?

   1. A. The appraiser
   2. B. The supervising broker
   3. C. The title insurer
   4. D. The county clerk

   Answer: B

   Explanation: Rule 605:10-11-1 makes the associate responsible "in conjunction with the broker" for the assistant's real-estate-related activities.

   Reference: Orec Code Rules (2025) — OAC 605:10-11-1(c), p. 78

7. 7How many of OREC's seven commissioners must be licensed real estate brokers?

   1. A. Three
   2. B. Four
   3. C. Five
   4. D. Six

   Answer: C

   Explanation: Section 858-201 requires "five members shall be licensed real estate brokers"; thus five is the statutory composition.

   Reference: Orec Code Rules (2025) — 59 O.S. § 858-201(B), p. 14

8. 8Unless specifically waived in writing, what must an Oklahoma broker do when a party asks that an offer be written?

   1. A. Refer the party to OREC
   2. B. Reduce the offer to writing
   3. C. Wait for attorney approval
   4. D. Decline unless earnest money is paid

   Answer: B

   Explanation: Section 858-353 requires brokers to "reduce offers or counteroffers to a written form upon request" unless specifically waived in writing.

   Reference: Orec Code Rules (2025) — 59 O.S. § 858-353(A)(2), p. 27

9. 9Which on-site worker can qualify for Oklahoma's property-management licensing exemption?

   1. A. Any off-site leasing consultant
   2. B. A resident manager who resides on the premises
   3. C. Any independent contractor
   4. D. A broker from another state

   Answer: B

   Explanation: Section 858-301 exempts a resident manager "when such resident manager resides on the premises" and leases in connection with that employment.

   Reference: Orec Code Rules (2025) — 59 O.S. § 858-301(4), p. 8

10. 10How old may an Oklahoma seller's completed disclosure statement be when the purchaser receives it?

    1. A. No more than 30 days
    2. B. No more than 90 days
    3. C. No more than 180 days
    4. D. No age limit

    Answer: C

    Explanation: Section 833 says completion "may not be more than one hundred eighty (180) days" before purchaser receipt.

    Reference: Rpcd Act (2025) — 60 O.S. § 833(C), p. 6