Free Oklahoma Real Estate Exam Flashcards

Oklahoma splits licensure into two separate Pearson VUE exams: a national portion (80 scored items, 150 minutes) and a state portion (40 scored items, 90 minutes), each with 5-10 unscored pretest items. You must score 70% scaled on each portion, and each portion is scheduled and graded independently. Scheduling both on one order costs $75 total under a two-for-one discount.

OBRA (Title 59, Sections 858-351 to 858-363) governs how licensees work with the public. Since a 2013 reform, Oklahoma no longer uses the terms 'single-party broker' or 'transaction broker' - every licensee is simply a 'broker' who owes the same core duties to all parties: honesty, reasonable skill and care, presenting all offers, accounting for money, and confidentiality. A broker may provide brokerage services to one or both parties, but must disclose in writing which party (or both) is being served before the parties sign a contract.

Under OREC rule 605:10-13-1, all trust (escrow) funds - including earnest money, rents, and security deposits - must be deposited before the end of the third banking day following receipt. Brokers may not commingle personal funds with trust funds, and trust accounts must be registered with the Commission and are subject to OREC audit.

No. Under Oklahoma's psychologically impacted property statute (Title 60, Section 833), a death by any manner, an alleged paranormal event, or a non-physical-damage crime is not a material fact requiring disclosure. However, if a buyer directly asks, the seller and licensee must answer truthfully and may not misrepresent the facts.

Candidates need 90 clock hours of OREC-approved pre-license education (valid three years). After passing and affiliating with a broker you receive a provisional sales associate (PSA) license and must complete a 45-hour post-license course within your first year. Licenses run on a 36-month cycle, and renewal requires 30 hours of continuing education (increased from 21 hours effective June 1, 2025).