Oklahoma Real Estate Exam Questions

2022 Oklahoma Real Estate Exam FAQ - Barnes Real Estate Blog

1. Which of the following is incorrect about express contracts? They set forth the terms of the agreement. They can be in writing. They must be in writing.
2. Maribel was reading the local paper when she came across an ad for a puppy. She called the owner and he said he would deliver the pup to her home.
3. Which of the following governmental entities has inherent police power in the United States? All levels of government do. The federal government.
4. What does EPCRA stand for? Environmental Protection and Community Resource Act. Emergency Planning and Conservation Responsibility Act. Emergency Planning and Community Right-To-Know Act.
5. Prepayment penalties are: A penalty fee the lender charges the borrower for early payment of the loan. A penalty fee for not paying enough discount points for the unpaid interest on the loan.
6. In home loans, _____ is the prepaid interest used to make up a difference in the interest rate charged and the interest rate the lender requires to make the loan.
7. What must you do when you have a non-agent relationship with a seller? You must agree to market the home on the MLS. You are not the agent, so there is no fiduciary responsibility.
8. Paul hires Andy to be his sports agent. Paul hires Andy specifically to negotiate his NFL contract for the upcoming football season. Shortly afterward, Paul breaks his back and is paralyzed.
9. What is the name of the provision in a contract which states that the purchase depends upon the occurrence of a condition or event? Conditional clause.
10. Jamie has offered to purchase Chad's house, pending the results of a property inspection. The report indicates that the roof needs to be repaired.

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