This post provides all the information needed to understand the Oklahoma Real Estate Salesperson Exam better. This article contains essential study materials and our most frequently asked questions, including:
- How To Schedule Your Exam
- Where Do You Take the Oklahoma Real Estate Exam?
- How Much Does It Cost to Take the Oklahoma Real Estate Exam?
- Where Do You Take the Oklahoma Real Estate Exam?
- What Is on the Oklahoma Real Estate Exam?
- How Hard Is the Oklahoma Real Estate Exam?
- Oklahoma Real Estate Exam Practice Questions
- What Should You Expect on the Day of Your Test?
- Important Calculations
- Your Results
The journey to acquiring your Oklahoma real estate license is both exciting and challenging. We understand that preparing for the Oklahoma Real Estate Exam can be incredibly stressful. The exam is the final barrier between a hopeful real estate professional and their dream job.
With an average real estate salary averaging $40,330 in Oklahoma, it is no wonder why real estate has become such a popular career choice.
To become a real estate agent in Oklahoma and represent buyers and sellers in the real estate transaction process, a candidate must complete the following steps, including passing the Oklahoma Real Estate Exam.
- Complete 90 Hours of Approved Education
- Pass a Background Check
- Submit Your Application to the Oklahoma Real Estate Commission (OREC)
- Pass the Oklahoma Real Estate License Exam
- Pay a License Fee to the Oklahoma Real Estate Commission
Learn more about how to get a real estate license in Oklahoma.
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Before Registering for the Exam
Before a candidate can register to take their Oklahoma Real Estate Exam, they must complete 90 hours of pre-licensing education. This course covers all the topics required to become a licensed real estate salesperson. Topics include license law, law of agency, regulations, and real estate finance.
How Do You Schedule Your Exam?
To schedule over the Internet, access PSI's website at http://www.psiexams.com.
Internet scheduling is available 24 hours a day. To schedule, log onto PSI's website and create an account. Select the examination and enter the ID number that the Commission provided to you. Your record will be found, and you will now be ready to pay and schedule for the exam. Once you select the desired test site, available dates will appear.
If you have problems or wish to schedule by phone, contact PSI at (855) 746-8169 for help.
You can also schedule your exam by fax or mail. Look up instructions on this PSI document.
What to Bring on Exam Day
On exam day, candidates must bring a form of government-issued signature identification. This ID must have a photo of the candidate and be current. Here is a list of accepted IDs.
State-issued driver's license
- State issued identification card
- US Government Issued Passport
- US Government Issued Military Identification Card
- US Government Issued Alien Registration
Calculators are permitted so long as they are non-programmable.
What Is NOT Allowd on Exam Day
- Reference materials
- Cell phones or other electronic devices
- Food or drinks
- Visitors or guests
How Much Does It Cost to Take the Oklahoma Real Estate Exam?
The candidate must pay a $79 fee for a salesperson examination fee. If scheduling your appointment online, you must pay the total amount via credit card when scheduling the exam.
You can take the Oklahoma salesperson exam as many times as you need to pass. Each attempt costs $79.
Where Do You Take the Oklahoma Real Estate Exam?
Students must take their salesperson exams at a designated PSI testing center. The list of test locations is below.
PSI - Oklahoma City
3800 N Classen Blvd, Ste C-20
Oklahoma City, OK 73118
PSI - Tulsa
2840 E. 51st Street, Suite 215
Tulsa, OK 74105
PSI - McAlester
21 East Carl Albert Parkway (US Hwy 270)
McAlester, Oklahoma 74501
From Main St: turn onto US 270 - E. Carl Albert Parkway. The
PSI - Woodward
1915 Oklahoma Ave, Suite 3
Woodward, OK 73801
What Is on the Oklahoma Real Estate Exam?
The Oklahoma Real Estate Salesperson Examination consists of 75 total questions. To pass, you need to answer 70% of the questions correctly.
Real Estate Principles and Practices
I. Property ownership (8%)
II. Land use controls and regulations (5%)
III. Valuation and market analysis (7%)
IV. Financing (10%)
V. General principles of agency (13%)
VI. Property disclosures (6%)
VII. Contracts (17%)
VIII. Leasing and Property Management (3%)
IX. Transfer of Title (8%)
X. Practice of real estate (13%)
XI. Real estate calculations (10%)
I. Laws and Rules Affecting Oklahoma Real Estate Practice (27 Items)
II. Oklahoma Broker Relationships Act (11 Items)
III. Property Management (6 items)
IV. Disclosures and Hazards (6 Items)
How Hard Is the Oklahoma Real Estate Exam?
The exam can be challenging, but it is not something that should intimidate students. We created an Oklahoma real estate exam prep course to help students pass their first time!
Oklahoma Real Estate Exam Practice Questions
1. Which of the following interests in property is held by a person who is granted a lifetime use of a property that will be transferred to a third party upon the death of the lifetime user?
A life estate.
- A remainder estate.
- An estate for years.
- A reversionary estate.
2. Which of the following statements BEST identifies the meaning of the term "rescission of a contract"?
- A ratification of a contract by all parties.
- A return of all parties to their condition before the contract was executed.
- A transfer or assignment of a particular responsibility from one of the parties to another.
- A review of the contract by the legal counsel of either party that may result in a cancellation without penalty or further obligation.
3. Which of the following clauses in a mortgage allows the lender to demand loan repayment if a borrower sells the property?
4. How much cash MUST a buyer furnish in addition to a $2,500 deposit if the lending institution grants a 90% loan on an 80,000 property?
- None of the above.
5. Which of the following single-family residences would get the MOST accurate appraisal by applying the reproduction cost approach to value?
- A rental property.
- A vacant property.
- A new property.
- A historic property.
Answers: 1. A; 2. B; 3. D; 4. A; 5. D
What Should You Expect on the Day of Your Test?
On the exam day, candidates should report to the test center thirty (30) minutes before the examination.
Candidates must register for the exam with their first and last name as it appears on their government-issued identification. They must provide one form of state-issued identification which bears a signature and photograph.
A candidate may bring a non-programmable calculator and scratch paper into the exam room. All other personal items must be stored elsewhere.
Candidates take their exams on a computer at the test center. You do not need computer experience or typing skills to take your exam. Applicants have three hours to answer 130 questions. They must pass with at least a 70%.
Don't Forget These Calculations!
These calculations are not available at the test center and should be memorized.
Candidates may use the following information in making mathematical calculations on the real estate examinations unless otherwise stated in the text of the question:
- 43,560 square feet/acre
- 5,280 feet/mile
- Round off calculations (where applicable)
How to Pass Your Exam
At VanEd Real Estate School, we make passing your exam simple with our Oklahoma Real Estate Exam Prep Course Program, which contains a full review of your pre-license courses and various practice questions that you will find on the exam.
Any applicant that passes the examination will receive a pass letter immediately following completion of the examination. Passed exams are valid for one year.
A failed examination will generate your actual score and a summary of the categories.
If you take a written test – an unofficial score report will be printed at the examination site.
Written and Published by: VanEd