OKLAHOMA REAL ESTATE EVALUATION EXAM 2026
QUESTIONS AND SOLUTIONS SCORED A+
✔✔An office building rents for $600,000, has expenses of $400,000, and a cash flow of
$100,000. The prevailing gross rent multiplier is 8. Using the GRM, what is the value of
the building? - ✔✔Rent of $600,000 X the GRM of 8= $4,800,000
✔✔A 3,000 square foot house is in a neighborhood where it is surrounded by 1,500
square foot homes. The owner of the larger home noticed the value of his home was
falling. This is an example of what? - ✔✔Regression
✔✔What is true regarding the broker's opinion of value? - ✔✔The broker's opinion of
value is not regulated
✔✔Jerry's house has a market value of $275,000, an appraised value of $280,000, an
assessed value of $200,000, and insured value of $210,000, if the home is destroyed,
how much money will jerry receive? - ✔✔$210,000
✔✔After determining highest and best use of the subject property but before applying
the three approaches to value, the appraiser must do what? - ✔✔Present the report to
the client
✔✔The cost of constructing a new home at current prices and using current materials
and methods, is called what? - ✔✔reproduction cost
✔✔Amanda Green sold her property to Sally Fay. Amanda will retain title to the property
until Sally has paid in full. What kind of contract do Amanda and Sally have? - ✔✔Land
Contract
✔✔Which statement is true about a loan that has a negative amortization? -
✔✔Additional interest charges are added to the loan periodically
✔✔How does a lender determine if a potential borrower's income is enough to pay the
loan? - ✔✔By estimating income and debt ratios
✔✔According to Truth in Lending, a lender must disclose all of the following except
which one? - ✔✔Real Broker's commission
✔✔A higher loan-to-value means a _________ loan amount is being borrowed and a
__________ down payment is being made. - ✔✔Larger, Smaller
, ✔✔What is the potential downside of consolidating all other debts into a home equity
loan? - ✔✔The borrower could lose the home if they cannot afford the home equity
payment
✔✔A(n) ________ is a written agency/ employment agreement between an owner and
a broker, authorizing the broker to find a ready, willing and able buyer for the property. -
✔✔Listing agreement
✔✔A agent owes honest and fair dealing to a _______ and fiduciary duties to a client. -
✔✔Customer
✔✔A broker lists a property, decides to buy it for herself, then collects the agreed upon
commission, what is this called? - ✔✔Self-dealing
✔✔Does a seller have the option to reject subagency when signing the listing
agreement? - ✔✔Yes, the seller can choose to reject or accept subagency
✔✔Which of the following is a common type of agency relationship in a real estate
transaction? - ✔✔Buyer/ Tenant agency
✔✔Broker Chloe represents buyer Stephen. Chloe's license was revoked for
misrepresentation during the buyer Representation Agreement's term. What will happen
to their agency relationship? - ✔✔It will be automatically terminated
✔✔What is a reason a buyer would want an agent to represent him/her? - ✔✔To help
negotiate the sale price with the seller
✔✔Which of the following best describes a breach of contract? - ✔✔The failure of a
party to perform according to the terms of the contract
✔✔Which of the following is a legally-required element of a valid and enforceable real
estate contract? - ✔✔Valuable Consideration
✔✔Buyer Tal is regretting the full price offer he just made on a home. Can he still
revoke the offer? - ✔✔Yes, he can revoke the offer any time prior to the seller
accepting/ delivering a notice of acceptance
✔✔A(n) ________ is an exchange of promises by the parties to the contract and are
bound by both, whether verbally or in writing. - ✔✔Express contract
✔✔Licensee Hilda works for broker Sergio. Hilda has not been given the commission
she earned from her last transaction due to a fraudulent seller. What should Hilda do? -
✔✔Inform Sergio so he can sue the seller
QUESTIONS AND SOLUTIONS SCORED A+
✔✔An office building rents for $600,000, has expenses of $400,000, and a cash flow of
$100,000. The prevailing gross rent multiplier is 8. Using the GRM, what is the value of
the building? - ✔✔Rent of $600,000 X the GRM of 8= $4,800,000
✔✔A 3,000 square foot house is in a neighborhood where it is surrounded by 1,500
square foot homes. The owner of the larger home noticed the value of his home was
falling. This is an example of what? - ✔✔Regression
✔✔What is true regarding the broker's opinion of value? - ✔✔The broker's opinion of
value is not regulated
✔✔Jerry's house has a market value of $275,000, an appraised value of $280,000, an
assessed value of $200,000, and insured value of $210,000, if the home is destroyed,
how much money will jerry receive? - ✔✔$210,000
✔✔After determining highest and best use of the subject property but before applying
the three approaches to value, the appraiser must do what? - ✔✔Present the report to
the client
✔✔The cost of constructing a new home at current prices and using current materials
and methods, is called what? - ✔✔reproduction cost
✔✔Amanda Green sold her property to Sally Fay. Amanda will retain title to the property
until Sally has paid in full. What kind of contract do Amanda and Sally have? - ✔✔Land
Contract
✔✔Which statement is true about a loan that has a negative amortization? -
✔✔Additional interest charges are added to the loan periodically
✔✔How does a lender determine if a potential borrower's income is enough to pay the
loan? - ✔✔By estimating income and debt ratios
✔✔According to Truth in Lending, a lender must disclose all of the following except
which one? - ✔✔Real Broker's commission
✔✔A higher loan-to-value means a _________ loan amount is being borrowed and a
__________ down payment is being made. - ✔✔Larger, Smaller
, ✔✔What is the potential downside of consolidating all other debts into a home equity
loan? - ✔✔The borrower could lose the home if they cannot afford the home equity
payment
✔✔A(n) ________ is a written agency/ employment agreement between an owner and
a broker, authorizing the broker to find a ready, willing and able buyer for the property. -
✔✔Listing agreement
✔✔A agent owes honest and fair dealing to a _______ and fiduciary duties to a client. -
✔✔Customer
✔✔A broker lists a property, decides to buy it for herself, then collects the agreed upon
commission, what is this called? - ✔✔Self-dealing
✔✔Does a seller have the option to reject subagency when signing the listing
agreement? - ✔✔Yes, the seller can choose to reject or accept subagency
✔✔Which of the following is a common type of agency relationship in a real estate
transaction? - ✔✔Buyer/ Tenant agency
✔✔Broker Chloe represents buyer Stephen. Chloe's license was revoked for
misrepresentation during the buyer Representation Agreement's term. What will happen
to their agency relationship? - ✔✔It will be automatically terminated
✔✔What is a reason a buyer would want an agent to represent him/her? - ✔✔To help
negotiate the sale price with the seller
✔✔Which of the following best describes a breach of contract? - ✔✔The failure of a
party to perform according to the terms of the contract
✔✔Which of the following is a legally-required element of a valid and enforceable real
estate contract? - ✔✔Valuable Consideration
✔✔Buyer Tal is regretting the full price offer he just made on a home. Can he still
revoke the offer? - ✔✔Yes, he can revoke the offer any time prior to the seller
accepting/ delivering a notice of acceptance
✔✔A(n) ________ is an exchange of promises by the parties to the contract and are
bound by both, whether verbally or in writing. - ✔✔Express contract
✔✔Licensee Hilda works for broker Sergio. Hilda has not been given the commission
she earned from her last transaction due to a fraudulent seller. What should Hilda do? -
✔✔Inform Sergio so he can sue the seller
