OKLAHOMA REAL ESTATE PSI EXAM (STATE PORTION) |
2026/2027 COMPLETE EXAM QUESTIONS AND CORRECT
EXPLAINED ANSWERS LATEST UPDATED
1. Which Oklahoma state agency is responsible for regulating real estate licensees?
A. Oklahoma Real Estate Commission (OREC) ✓ CORRECT
B. Oklahoma Department of Commerce
C. Oklahoma Real Estate Board of Directors
D. Oklahoma Housing Finance Agency
Explanation: The Oklahoma Real Estate Commission (OREC) is the state
agency established by the Oklahoma legislature to regulate and supervise real
estate licensees in the state.
2. Under Oklahoma law, how many members serve on the Oklahoma Real Estate
Commission?
A. Five members
B. Seven members
C. Nine members ✓ CORRECT
D. Eleven members
Explanation: The Oklahoma Real Estate Commission consists of nine members
appointed by the Governor, including one from each congressional district and
three at-large members.
3. What is the required experience for an applicant seeking an Oklahoma broker's
license?
A. One year as an active salesperson
, B. Two years as an active salesperson ✓ CORRECT
C. Three years as an active salesperson
D. No prior experience required
Explanation: Oklahoma law requires that an applicant for a broker's license
have at least two years of active experience as a licensed salesperson prior to
application.
4. How many hours of pre-license education are required for an Oklahoma
salesperson applicant?
A. 90 hours ✓ CORRECT
B. 60 hours
C. 45 hours
D. 120 hours
Explanation: Oklahoma requires 90 hours of pre-license education for
salesperson applicants before they can sit for the state licensing examination.
5. In Oklahoma, real estate licenses must be renewed every:
A. One year
B. Two years
C. Three years ✓ CORRECT
D. Four years
Explanation: Oklahoma real estate licenses are issued on a three-year renewal
cycle. Licensees must complete continuing education requirements and pay
renewal fees within that period.
6. How many hours of continuing education does an Oklahoma licensee need to
complete per renewal period?
A. 6 hours
B. 21 hours ✓ CORRECT
C. 30 hours
D. 15 hours
Explanation: Oklahoma licensees must complete 21 hours of continuing
education during each three-year renewal period, which includes required core
topics designated by OREC.
7. Which of the following acts is prohibited under the Oklahoma Real Estate
License Code?
, A. Representing a buyer in a dual agency transaction with written consent
B. Advertising property with the broker's name
C. Charging a referral fee to a licensed broker
D. Commingling client funds with personal funds ✓ CORRECT
Explanation: Commingling client funds with personal or business funds is
strictly prohibited under the Oklahoma Real Estate License Code and is
grounds for license suspension or revocation.
8. A real estate salesperson in Oklahoma may receive a commission from:
A. Only their sponsoring broker ✓ CORRECT
B. Any licensed broker in the state
C. The seller directly
D. The buyer directly
Explanation: Under Oklahoma law, a salesperson may only receive
compensation through their sponsoring broker. They cannot accept payment
directly from any party to a transaction.
9. What must an Oklahoma broker maintain for all trust funds?
A. A general business checking account
B. A personal savings account
C. A separate trust or escrow account ✓ CORRECT
D. An interest-bearing CD account
Explanation: Oklahoma brokers are required by law to maintain a separate
trust or escrow account distinct from personal and business accounts for
holding client funds.
10. Under Oklahoma law, within how many business days must an earnest money
deposit be placed into the trust account?
A. One business day
B. Three business days ✓ CORRECT
C. Five business days
D. Ten business days
Explanation: Oklahoma rules require that earnest money and other trust funds
be deposited into the broker's trust account within three business days of
receipt.
11. Which of the following would require an Oklahoma real estate license?
, A. A property owner selling their own home
B. An attorney selling property under a court order
C. An auctioneer selling at a court-ordered auction
D. A property manager collecting rents for third parties for compensation
✓ CORRECT
Explanation: In Oklahoma, any person who manages property and collects
rents for another party for compensation is engaged in real estate activity and
must hold a valid real estate license.
12. Under Oklahoma law, a broker's license may be placed on inactive status:
A. At any time by submitting a written request to OREC ✓ CORRECT
B. Only during license renewal
C. Only with court approval
D. Only when the broker is disciplined by OREC
Explanation: An Oklahoma broker may voluntarily place their license on
inactive status at any time by submitting a written request to the Oklahoma Real
Estate Commission.
13. What is the maximum fine that OREC can impose on a licensee per violation?
A. $500
B. $1,000
C. $2,000 ✓ CORRECT
D. $5,000
Explanation: The Oklahoma Real Estate Commission may impose an
administrative fine of up to $2,000 per violation against a licensee who is found
to have violated the license code or rules.
14. The Oklahoma Real Estate License Code requires that a licensee disclose their
license status when:
A. Only when purchasing commercial property
B. When purchasing or selling property for themselves ✓ CORRECT
C. Only when working as a buyer's agent
D. Only at closing
Explanation: Oklahoma licensees must disclose that they hold a real estate
license whenever they are personally buying or selling real property to avoid
potential conflicts of interest.
2026/2027 COMPLETE EXAM QUESTIONS AND CORRECT
EXPLAINED ANSWERS LATEST UPDATED
1. Which Oklahoma state agency is responsible for regulating real estate licensees?
A. Oklahoma Real Estate Commission (OREC) ✓ CORRECT
B. Oklahoma Department of Commerce
C. Oklahoma Real Estate Board of Directors
D. Oklahoma Housing Finance Agency
Explanation: The Oklahoma Real Estate Commission (OREC) is the state
agency established by the Oklahoma legislature to regulate and supervise real
estate licensees in the state.
2. Under Oklahoma law, how many members serve on the Oklahoma Real Estate
Commission?
A. Five members
B. Seven members
C. Nine members ✓ CORRECT
D. Eleven members
Explanation: The Oklahoma Real Estate Commission consists of nine members
appointed by the Governor, including one from each congressional district and
three at-large members.
3. What is the required experience for an applicant seeking an Oklahoma broker's
license?
A. One year as an active salesperson
, B. Two years as an active salesperson ✓ CORRECT
C. Three years as an active salesperson
D. No prior experience required
Explanation: Oklahoma law requires that an applicant for a broker's license
have at least two years of active experience as a licensed salesperson prior to
application.
4. How many hours of pre-license education are required for an Oklahoma
salesperson applicant?
A. 90 hours ✓ CORRECT
B. 60 hours
C. 45 hours
D. 120 hours
Explanation: Oklahoma requires 90 hours of pre-license education for
salesperson applicants before they can sit for the state licensing examination.
5. In Oklahoma, real estate licenses must be renewed every:
A. One year
B. Two years
C. Three years ✓ CORRECT
D. Four years
Explanation: Oklahoma real estate licenses are issued on a three-year renewal
cycle. Licensees must complete continuing education requirements and pay
renewal fees within that period.
6. How many hours of continuing education does an Oklahoma licensee need to
complete per renewal period?
A. 6 hours
B. 21 hours ✓ CORRECT
C. 30 hours
D. 15 hours
Explanation: Oklahoma licensees must complete 21 hours of continuing
education during each three-year renewal period, which includes required core
topics designated by OREC.
7. Which of the following acts is prohibited under the Oklahoma Real Estate
License Code?
, A. Representing a buyer in a dual agency transaction with written consent
B. Advertising property with the broker's name
C. Charging a referral fee to a licensed broker
D. Commingling client funds with personal funds ✓ CORRECT
Explanation: Commingling client funds with personal or business funds is
strictly prohibited under the Oklahoma Real Estate License Code and is
grounds for license suspension or revocation.
8. A real estate salesperson in Oklahoma may receive a commission from:
A. Only their sponsoring broker ✓ CORRECT
B. Any licensed broker in the state
C. The seller directly
D. The buyer directly
Explanation: Under Oklahoma law, a salesperson may only receive
compensation through their sponsoring broker. They cannot accept payment
directly from any party to a transaction.
9. What must an Oklahoma broker maintain for all trust funds?
A. A general business checking account
B. A personal savings account
C. A separate trust or escrow account ✓ CORRECT
D. An interest-bearing CD account
Explanation: Oklahoma brokers are required by law to maintain a separate
trust or escrow account distinct from personal and business accounts for
holding client funds.
10. Under Oklahoma law, within how many business days must an earnest money
deposit be placed into the trust account?
A. One business day
B. Three business days ✓ CORRECT
C. Five business days
D. Ten business days
Explanation: Oklahoma rules require that earnest money and other trust funds
be deposited into the broker's trust account within three business days of
receipt.
11. Which of the following would require an Oklahoma real estate license?
, A. A property owner selling their own home
B. An attorney selling property under a court order
C. An auctioneer selling at a court-ordered auction
D. A property manager collecting rents for third parties for compensation
✓ CORRECT
Explanation: In Oklahoma, any person who manages property and collects
rents for another party for compensation is engaged in real estate activity and
must hold a valid real estate license.
12. Under Oklahoma law, a broker's license may be placed on inactive status:
A. At any time by submitting a written request to OREC ✓ CORRECT
B. Only during license renewal
C. Only with court approval
D. Only when the broker is disciplined by OREC
Explanation: An Oklahoma broker may voluntarily place their license on
inactive status at any time by submitting a written request to the Oklahoma Real
Estate Commission.
13. What is the maximum fine that OREC can impose on a licensee per violation?
A. $500
B. $1,000
C. $2,000 ✓ CORRECT
D. $5,000
Explanation: The Oklahoma Real Estate Commission may impose an
administrative fine of up to $2,000 per violation against a licensee who is found
to have violated the license code or rules.
14. The Oklahoma Real Estate License Code requires that a licensee disclose their
license status when:
A. Only when purchasing commercial property
B. When purchasing or selling property for themselves ✓ CORRECT
C. Only when working as a buyer's agent
D. Only at closing
Explanation: Oklahoma licensees must disclose that they hold a real estate
license whenever they are personally buying or selling real property to avoid
potential conflicts of interest.
