US Real Estate Oklahoma Test 1

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Author: TestGru Team (Education Specialist)

20 questions · All questions on one page

Prepared with up-to-date content

Real Estate — Oklahoma Professional (Real Estate, USA) USA — Oklahoma State Real Estate License — USA

What is this test? for Real Estate Salesperson/Broker prep, USA (national + state law) — Professional (Real Estate, USA) level, USA — Oklahoma.
For adults preparing for Real Estate license in the USA
Section: Real Estate — Oklahoma · Education: Professional (Adult) · Part: Real Estate — Oklahoma · Country: USA · Region: USA — Oklahoma

Finance and real estate acumen covers markets, valuation, contracts, and budget management.

This test is designed to reinforce core concepts and help you succeed on your exams.

By solving this test of 20 questions, you can both test your knowledge and identify the topics you need to improve.

Question 1

Which agency licenses agents in Oklahoma?

A) IRS

B) Oklahoma Real Estate Commission

C) State Bar

D) Medical Board

Question 2

What is a listing agreement?

A) contract to sell a property

B) lease

C) deed

D) purchase offer

Question 3

What is earnest money?

A) fee

B) commission

C) buyer good-faith deposit

D) tax

Question 4

What is a fiduciary duty?

A) secrecy from client

B) dual profit

C) loyalty, obedience, care to client

D) profit first

Question 5

What is dual agency?

A) no representation

B) buyer only

C) one broker representing both sides

D) two brokers

Question 6

What is the Fair Housing Act?

A) zoning code

B) building code

C) bans housing discrimination

D) tax law

Question 7

What classes are protected in housing?

A) income

B) politics

C) race, color, religion, sex, handicap, family, national origin

D) age only

Question 8

What is redlining?

A) appraising

B) surveying

C) illegal denial by neighborhood

D) mapping

Question 9

What is steering?

A) showing homes

B) negotiating

C) advertising

D) guiding buyers by race (illegal)

Question 10

What is a CMA?

A) appraisal

B) survey

C) comparative market analysis

D) inspection

Question 11

What is an appraisal?

A) listing

B) professional value opinion

C) offer

D) inspection

Question 12

What are the three appraisal approaches?

A) offer, accept, record

B) list, sell, close

C) sales comparison, cost, income

D) show, stage, sell

Question 13

What is PITI?

A) a tax

B) a deed

C) a loan type

D) principal, interest, taxes, insurance

Question 14

What is LTV?

A) land title verification

B) loan-to-value ratio

C) lease term value

D) listing traffic volume

Question 15

What is PMI?

A) property tax

B) insurance for low down payments

C) flood insurance

D) title insurance

Question 16

What is escrow?

A) neutral third-party holding

B) down payment

C) commission

D) tax

Question 17

What is a deed?

A) lease

B) ownership transfer document

C) loan paper

D) offer

Question 18

What is a warranty deed?

A) lease

B) guarantees clear title

C) quitclaim

D) option

Question 19

What is a quitclaim deed?

A) loan

B) lease

C) transfers whatever interest exists

D) full warranty

Question 20

What is title insurance?

A) flood policy

B) protects against title defects

C) life insurance

D) home warranty

US Real Estate Oklahoma Test 1

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