A broker is representing both the buyer and seller in a transaction. What is this arrangement called, and what specific disclosure is absolutely required by Oklahoma law before proceeding?

Dual agency; the broker must provide a written disclosure of dual agency to both parties, outlining potential conflicts of interest and obtaining their written consent.. Dual agency occurs when a broker represents both the buyer and the seller in the same transaction. Oklahoma law mandates that the broker must provide a written disclosure of dual agency to both parties, clearly explaining the potential conflicts of interest and securing their informed written consent before the dual agency relationship can be established.

An Oklahoma real estate licensee is found guilty of violating the Oklahoma Real Estate License Code. The Oklahoma Real Estate Commission (OREC) can impose several penalties. Which of the following is NOT a penalty OREC can impose?

Suspension of the license for a period not to exceed five years.. OREC can suspend a license, but there is no statutory limit of five years on the suspension period; suspensions can be indefinite until certain conditions are met. Revocation, fines, and mandatory education are all within OREC's disciplinary powers.

A seller lists their property with Broker A for $300,000. Broker B, a cooperating broker, brings a buyer who offers $295,000. The seller accepts the offer. The listing agreement specifies a 6% commission. Broker A and Broker B agree to split the commission 50/50. If the buyer also requests Broker B to represent them and assist with negotiations on their behalf, what type of agency relationship is most likely established for Broker B if not explicitly defined otherwise?

Buyer's agent.. If Broker B is explicitly assisting the buyer with negotiations and representing their interests, even while cooperating with the listing broker, this establishes Broker B as the buyer's agent. Without a written agreement specifying otherwise, this is the most accurate description of the relationship.

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Free Oklahoma Real Estate Broker Exam practice test with 50 realistic multiple-choice questions, instant grading, and explanations. Study with drill mode, category score reports, and a personalized review plan.

Exam format

50 multiple-choice practice questions
Drill mode with instant feedback and explanations after each answer

Study tips

Review the official exam content outline before your first practice run.
Take the full practice exam once to establish a baseline score by category.
Focus review on categories where you score below the passing threshold.
Re-take missed questions in drill mode until you can explain each correct answer.
Schedule the real exam only after consistent passing scores on practice tests.

Sample Oklahoma Broker practice questions

Try a few representative questions below. Each includes the correct answer and a short explanation — the same style you'll see in the full practice test.

Question 1Agency Relationships
A broker is representing both the buyer and seller in a transaction. What is this arrangement called, and what specific disclosure is absolutely required by Oklahoma law before proceeding?
- A.Transaction broker; the broker must inform both parties in writing that they are acting as a transaction broker and do not represent either party.
- B.Designated agency; the broker must provide a disclosure of designated agency and obtain written consent from both parties.
- C.Facilitator; no specific disclosure is required beyond the standard agency disclosure form.
- D.Dual agency; the broker must provide a written disclosure of dual agency to both parties, outlining potential conflicts of interest and obtaining their written consent.(Correct)
Explanation
Dual agency occurs when a broker represents both the buyer and the seller in the same transaction. Oklahoma law mandates that the broker must provide a written disclosure of dual agency to both parties, clearly explaining the potential conflicts of interest and securing their informed written consent before the dual agency relationship can be established.
Question 2License Law and Regulations
An Oklahoma real estate licensee is found guilty of violating the Oklahoma Real Estate License Code. The Oklahoma Real Estate Commission (OREC) can impose several penalties. Which of the following is NOT a penalty OREC can impose?
- A.Imposition of a fine up to $5,000 per violation.
- B.Suspension of the license for a period not to exceed five years.(Correct)
- C.Revocation of the license.
- D.Mandatory attendance at a continuing education seminar on ethical practices.
Explanation
OREC can suspend a license, but there is no statutory limit of five years on the suspension period; suspensions can be indefinite until certain conditions are met. Revocation, fines, and mandatory education are all within OREC's disciplinary powers.
Question 3Agency Relationships
A seller lists their property with Broker A for $300,000. Broker B, a cooperating broker, brings a buyer who offers $295,000. The seller accepts the offer. The listing agreement specifies a 6% commission. Broker A and Broker B agree to split the commission 50/50. If the buyer also requests Broker B to represent them and assist with negotiations on their behalf, what type of agency relationship is most likely established for Broker B if not explicitly defined otherwise?
- A.Transaction broker.
- B.Dual agent.
- C.Buyer's agent.(Correct)
- D.Sub-agent of the listing broker.
Explanation
If Broker B is explicitly assisting the buyer with negotiations and representing their interests, even while cooperating with the listing broker, this establishes Broker B as the buyer's agent. Without a written agreement specifying otherwise, this is the most accurate description of the relationship.

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Frequently asked questions

How many questions are on this Oklahoma Broker practice test?

This practice test includes 50 multiple-choice questions designed to mirror the format and difficulty of the real Oklahoma Real Estate Broker Exam.

Is this Oklahoma Broker practice test free?

Yes. You can start practicing for free. Create an account to save progress, track weak categories, and retake the exam.

Do I get explanations after each question?

Yes. In drill mode you see why the correct answer is right, why distractors are wrong, and practical examples where relevant.

How should I use this practice test to prepare?

Take the full exam under timed conditions, review missed questions by category, then focus study on your weakest sections before scheduling the real exam.

Does this replace official exam materials?

No. Use this as a supplement alongside official candidate information bulletins, textbooks, and hands-on experience required for your license or certification.

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