Are you looking to start a new career in real estate? Do you need to pass the Oklahoma real estate exam? Without any help or guidance, this can prove difficult. However, with the right information and the right license exam prep course, passing the Oklahoma real estate exam becomes much easier.
In this blog, we’ll provide you with all the information needed to understand the Oklahoma Real Estate Salesperson Exam, and we even include essential study materials and the most frequently asked questions about taking the exam.
Getting Started in Oklahoma Real Estate
If you’re wondering how to get a real estate license in Oklahoma, it might be more straightforward than you think!
The journey to obtaining 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 pass the Oklahoma Real Estate Exam. Here are the steps one must follow:
- 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
Before Registering for the Exam
Before a candidate can register for 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 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
- U.S. Government Issued Passport
- U.S. Government Issued Military Identification Card
- U.S. Government Issued Alien Registration
Calculators are permitted so long as they are non-programmable.
What Is NOT Allowed on Exam Day
- Reference materials
- Cell phones or other electronic devices
- Food or drinks
- Visitors or guests
- Firearms
How Much Does It Cost to Take the Oklahoma Real Estate Exam?
The candidate must pay a $60 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 $60.
How Many Times Can You Retake the Oklahoma Real Estate Exam?
In Oklahoma, if you fail the real estate exam, you can retake it as many times as needed. However, there are a few important points to keep in mind:
- Waiting Period: After each failed attempt, there is typically a waiting period before you can retake the exam. This period allows for additional study and preparation.
- Exam Fee: Each attempt at the exam requires paying the examination fee again. Therefore, multiple attempts can become costly.
- Application Expiration: Your initial application for the real estate exam has an expiration date. In Oklahoma, applications are valid for one year. If one year has lapsed without a passing score, a new application and background check must be submitted. This may include paying the application fee again and possibly meeting any new requirements that have been implemented.
It's advisable to thoroughly prepare for the exam to avoid multiple retakes. There are many resources available, including study guides, practice exams, and preparatory courses.
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 as follows:
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 and is divided into two portions:
- The national portion
- The stet-specific portion
Here’s what each portion entails:
National Portion - 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%)
State-Specific Portion
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)
What Score Do You Need to Pass the Real Estate Exam?
To pass the Oklahoma real estate exam, you need to achieve a score of at least 70%. The exam consists of two parts: the national portion and the state-specific portion. You must pass both sections to be eligible for a real estate license in Oklahoma.
- National Portion: This part of the exam covers general real estate principles and practices applicable across the U.S.
- State-Specific Portion: This section focuses on real estate laws, regulations, and practices that are unique to Oklahoma.
It's important to prepare well for both sections of the exam. Utilizing study materials, practice exams, and, if necessary, pre-licensing courses can significantly increase your chances of passing the exam on your first try. In fact, completing an Exam Prep course can significantly reduce the stress of passing the exam for anyone who takes it.
How Hard Is the Oklahoma Real Estate Exam?
The exam can be challenging, but it is not something that should intimidate students. To make it easier for students and increase your chances of passing, we created an OKLAHOMA REAL ESTATE EXAM PREP COURSE to help you pass your 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 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?
- Defeasance
- Prepayment
- Acceleration
- Alienation
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?
- $5,500.
- $6,975.
- $7,450.
- 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.
Test Results
Any applicant who 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.
How to Pass The Oklahoma Real Estate Exam The First Time
Successfully passing the Oklahoma Real Estate Exam on your first attempt is a significant step toward starting your career in real estate. To enhance your chances of success, you should enroll in a comprehensive online exam preparation course.
VanEd's Oklahoma real estate exam prep courses help you prepare to pass your Oklahoma real estate license exam the first time! Our online courses cover both the salesperson and broker licensing exams.
Our exam prep courses are specifically designed to provide you with the knowledge, skills, and confidence needed to excel in both the national and state-specific portions of the Oklahoma Real Estate Exam.
Investing in a quality exam prep course can make a significant difference in your exam performance. Prepare effectively and approach your Oklahoma Real Estate Exam with confidence.
Enroll now in our VanEd Oklahoma Real Estate Exam Prep.
Take the first step towards your real estate career with VanEd today!
Written and Published by: VanEd
