OREC FINAL KEVO QUIZZES WITH ANSWERS UPDATED 2025 - 2026
The real estate market may be described in all of the following ways EXCEPT:
free market.
local market.
moveable market.
market that is slow to react to change in supply and demand. ANS - C. moveable market
The provisions of the Oklahoma Real Estate License Code originate in the state legislature. The agency
created in 1950 to administer and enforce the Code is the:
National Association of REALTORS®.
Association of Real Estate License Law Officials.
Oklahoma Association of Real Estate Authorities.
Oklahoma Real Estate Commission. ANS - D. Oklahoma Real Estate Commission
The provisions requiring a person to be licensed as a real estate broker or sales associate shall apply to
any person who for compensation:
leases, offers to lease, rents or offers to rent real estate.
solicits prospective purchasers of real property.
Both A and B.
Neither A nor B. ANS - C. leases, offers to lease, rents or offers to rent real estate. solicits prospective
purchasers of real property. Both
The term REALTOR refers to:
all licensed real estate brokers.
all brokers and their sales associates.
members of the Oklahoma Real Estate Commission.
only brokers and associates who are members of the National Association of REALTORS. ANS - D. only
brokers and associates who are members of the National Association of REALTORS
,OREC FINAL KEVO QUIZZES WITH ANSWERS UPDATED 2025 - 2026
The definition of real property includes all of the following, EXCEPT:
land and improvements.
mineral rights.
buildings attached to the land.
trade fixtures. ANS - D. trade fixtures
Under our land system, we have certain rights which are called "bundle of rights." Which of the
following is included in the "bundle of rights?":
Right of disposition.
Right of unrestricted use.
Right of eminent domain.
Right to bear arms. ANS - A. Right of disposition
Riparian rights are best described as those rights:
specifically granted for a specified source of water.
found in the records of the office of the County Clerk.
an owner has from a natural water course abutting or crossing the land.
obtained by the purchase of fixtures. ANS - C. an owner has from a natural water course abutting or
crossing the land
Property of a temporary or moveable nature is:
personal property.
real property.
Realty.
real estate. ANS - A. personal property
Which of the following is an economic characteristic of land?:
Scarcity.
,OREC FINAL KEVO QUIZZES WITH ANSWERS UPDATED 2025 - 2026
Indestructibility.
Heterogeneity.
Fixed location. ANS - A. Scarcity
Which of the following does the law recognize as the highest type of interest in real estate?:
Conventional life estate.
Fee simple estate.
Leasehold estate.
Estate of survivorship. ANS - B. Fee simple estate
Real estate occupied as a home by an owner who enjoys special rights and privileges is a(n):
Freehold.
Homestead.
joint tenancy.
estate forever. ANS - B. Homestead
Estates owned by those who rent or lease property from others are:
defeasible fee estates.
leasehold estates.
fee simple estates.
estates at sufferance. ANS - B. Leasehold estates
A broker shall have all of the following duties and responsibilities only to the party for who the broker is
providing brokerage services in a transaction to:
inform the party in writing when an offer is made that a party will be expected to pay certain closing
costs.
keep the party informed regarding the transaction.
when working with both parties to a transaction, the duties and responsibilities set forth in the law
, OREC FINAL KEVO QUIZZES WITH ANSWERS UPDATED 2025 - 2026
all of the above. ANS - D. inform the party in writing when an offer is made that a party will be expected
to pay certain closing costs, keep the party informed regarding the transaction, when working with both
parties to a transaction, the duties and responsibilities set forth in the law, all of the above
A couple wants to sell their house. They want a broker to show the property, but hay would like to be
able to sell the house themselves without paying a broker's commission. What form of listing would
allow them to use the services of several brokers and not pay a commission should they sell the house
themselves?:
Open listing.
Exclusive Brokerage listing.
Exclusive right-to-sell listing.
Multiple listing. ANS - A. Open listing
Which of the following would not be a violation of the Federal Fair Housing Laws?:
Inducing owners to sell because minorities are moving into the neighborhood.
Directing minorities into predominantly minority neighborhoods.
A lender refusing to make loans in neighborhoods which are predominantly minority.
A broker refusing to show a property to a potential buyer because of the buyer's sexual preference. ANS
- D. A broker refusing to show a property to a potential buyer because of the buyer's sexual preference
If property is held by two or more owners as tenants in common, upon the death of the owner,
ownership of the deceased would pass to the:
remaining owner or owners.
heirs or whoever is designated under the deceased owner's will.
last surviving partner.
Estate. ANS - B. heirs or whoever is designated under the deceased owner's will
Four widowers decided to buy a home and live together. They took title in equal shares, but agreed that
as each of them died the share would pass to the remainder of the group until the only one left would
own the entire property in severalty. Under this plan, the men took title to the home as :
tenants in common.
community property.
The real estate market may be described in all of the following ways EXCEPT:
free market.
local market.
moveable market.
market that is slow to react to change in supply and demand. ANS - C. moveable market
The provisions of the Oklahoma Real Estate License Code originate in the state legislature. The agency
created in 1950 to administer and enforce the Code is the:
National Association of REALTORS®.
Association of Real Estate License Law Officials.
Oklahoma Association of Real Estate Authorities.
Oklahoma Real Estate Commission. ANS - D. Oklahoma Real Estate Commission
The provisions requiring a person to be licensed as a real estate broker or sales associate shall apply to
any person who for compensation:
leases, offers to lease, rents or offers to rent real estate.
solicits prospective purchasers of real property.
Both A and B.
Neither A nor B. ANS - C. leases, offers to lease, rents or offers to rent real estate. solicits prospective
purchasers of real property. Both
The term REALTOR refers to:
all licensed real estate brokers.
all brokers and their sales associates.
members of the Oklahoma Real Estate Commission.
only brokers and associates who are members of the National Association of REALTORS. ANS - D. only
brokers and associates who are members of the National Association of REALTORS
,OREC FINAL KEVO QUIZZES WITH ANSWERS UPDATED 2025 - 2026
The definition of real property includes all of the following, EXCEPT:
land and improvements.
mineral rights.
buildings attached to the land.
trade fixtures. ANS - D. trade fixtures
Under our land system, we have certain rights which are called "bundle of rights." Which of the
following is included in the "bundle of rights?":
Right of disposition.
Right of unrestricted use.
Right of eminent domain.
Right to bear arms. ANS - A. Right of disposition
Riparian rights are best described as those rights:
specifically granted for a specified source of water.
found in the records of the office of the County Clerk.
an owner has from a natural water course abutting or crossing the land.
obtained by the purchase of fixtures. ANS - C. an owner has from a natural water course abutting or
crossing the land
Property of a temporary or moveable nature is:
personal property.
real property.
Realty.
real estate. ANS - A. personal property
Which of the following is an economic characteristic of land?:
Scarcity.
,OREC FINAL KEVO QUIZZES WITH ANSWERS UPDATED 2025 - 2026
Indestructibility.
Heterogeneity.
Fixed location. ANS - A. Scarcity
Which of the following does the law recognize as the highest type of interest in real estate?:
Conventional life estate.
Fee simple estate.
Leasehold estate.
Estate of survivorship. ANS - B. Fee simple estate
Real estate occupied as a home by an owner who enjoys special rights and privileges is a(n):
Freehold.
Homestead.
joint tenancy.
estate forever. ANS - B. Homestead
Estates owned by those who rent or lease property from others are:
defeasible fee estates.
leasehold estates.
fee simple estates.
estates at sufferance. ANS - B. Leasehold estates
A broker shall have all of the following duties and responsibilities only to the party for who the broker is
providing brokerage services in a transaction to:
inform the party in writing when an offer is made that a party will be expected to pay certain closing
costs.
keep the party informed regarding the transaction.
when working with both parties to a transaction, the duties and responsibilities set forth in the law
, OREC FINAL KEVO QUIZZES WITH ANSWERS UPDATED 2025 - 2026
all of the above. ANS - D. inform the party in writing when an offer is made that a party will be expected
to pay certain closing costs, keep the party informed regarding the transaction, when working with both
parties to a transaction, the duties and responsibilities set forth in the law, all of the above
A couple wants to sell their house. They want a broker to show the property, but hay would like to be
able to sell the house themselves without paying a broker's commission. What form of listing would
allow them to use the services of several brokers and not pay a commission should they sell the house
themselves?:
Open listing.
Exclusive Brokerage listing.
Exclusive right-to-sell listing.
Multiple listing. ANS - A. Open listing
Which of the following would not be a violation of the Federal Fair Housing Laws?:
Inducing owners to sell because minorities are moving into the neighborhood.
Directing minorities into predominantly minority neighborhoods.
A lender refusing to make loans in neighborhoods which are predominantly minority.
A broker refusing to show a property to a potential buyer because of the buyer's sexual preference. ANS
- D. A broker refusing to show a property to a potential buyer because of the buyer's sexual preference
If property is held by two or more owners as tenants in common, upon the death of the owner,
ownership of the deceased would pass to the:
remaining owner or owners.
heirs or whoever is designated under the deceased owner's will.
last surviving partner.
Estate. ANS - B. heirs or whoever is designated under the deceased owner's will
Four widowers decided to buy a home and live together. They took title in equal shares, but agreed that
as each of them died the share would pass to the remainder of the group until the only one left would
own the entire property in severalty. Under this plan, the men took title to the home as :
tenants in common.
community property.
