Oklahoma Real Estate License Code and Rules Flashcards

Oklahoma Real Estate License Code and Rules Flashcards While on inactive status, the personis required to pay regular renewal fees.OREC has how many members?7 A broker must maintain all records and files for a minimum of five (5) years after consummation or termination of a transaction The Commissionmay, upon its own motion investigate the business transactions of any real estate licensee.A previous brokermay pay compensation due a disassociated associate directly.

: What is the term of an OREC member?4 years

A yard sign must include the broker'soffice telephone number Which of the following statements best defines the concept of promulgate?To put a law into effect officially Which entity is responsible for informing the Commission of training completed?The licensee At least how many clock hours are required in the Basic Course of Real Estate, Part I of II?90 What actions can the Commission take for violations of the Code?Injunctions and restraining orders Trust account records must be maintained in their original format for a minimum of two (2) years.All acts performed by a broker associate or provisional sales associate under the provisions of the Real Estate License Code must be done only in the name of the associate's broker.