Term
| true or false: A PSA applicant can use a certified transcript from an institution of higher learning, which documents the successful completion of a three-academic-hour basic course of real estate as evidence of successful completion of the clock hour requirement, provided the applicant received college credit for the course. |
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Definition
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Term
true or false: If the Commission determines that an applicant is not qualified, it will deny the application and notify the applicant within fifteen (15) days.
A denied applicant has the option of filing a written appeal of the denial within thirty (30) days after he or she receives notice. The Commission will conduct a hearing within sixty (60) days of receiving the written request. |
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Definition
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Term
| An applicant for a broker license must meet all of the following requirements: |
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Definition
The applicant must have served two (2) years or the equivalent as a licensed PSA or SA.
His or her service must have been under the instructions and guidance of a licensed real estate broker of Oklahoma or any other state.
The service must have taken place for a period of at least twenty-four (24) months within the five (5) year period immediately prior to the filing of the application. |
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Term
true or false: A score of 75% is considered passing on the broker and a passing score of 70% on PSA/SA exam.
Passing exam scores are valid for ninety (90) days from the date the exam was taken. |
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Definition
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Term
| Who might not have to complete an applicable course of study prior to sitting for the examination for a real estate license? |
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Definition
In most circumstances, an Oklahoma sales associate, since he would have had to complete the education requirement before applying for his PSA license.
A nonresident license applicant who would have completed an equivalent course of study from his former state. |
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Term
| How many hours of instruction are in the Basic Course of Real Estate? |
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Definition
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Term
| How many hours of instruction are in the Advanced Course in Real Estate? |
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Definition
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Term
| Clarence submits an application to the Commission and is told that it warrants further investigation. He signs a form acknowledging his application has not been approved, pays the exam fee and sits for and passes the exam. A few weeks later, the Commission informs him that his application is denied. What happens now? |
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Definition
| His exam grade is voided and he loses his exam fee. |
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Term
| Continuing education is defined as any course offering intended to: |
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Definition
Improve the knowledge of licensees.
Keep licensees abreast of changing real estate practices and laws.
Help licensees meet the statutory requirements for license renewal. |
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Term
| Each licensee is responsible for furnishing evidence to the Commission of successful completion of his or her continuing education requirement. |
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Definition
Evidence may be in the form of:
A certificate or documents.
A certified transcript.
To receive credit for classroom offerings, the licensee must be physically present at all sessions and successfully complete all course requirements.
To receive credit for distance-education courses, the licensee must successfully complete all course requirements, including all modules and an examination. |
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Term
| true or false: Courses taken as a result of a disciplinary action will not count towards the normal continuing education requirements for licensees. |
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Definition
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Term
| Some licensees are not required to complete continuing education: |
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Definition
Licensees who maintain inactive licenses. However, if a licensee desires to activate his or her license, he or she must complete the required hours prior to activation.
Provisional sales associates. They have a separate and unique requirement.
Nonresident licensees who hold an Oklahoma license, if they maintain a current license in another state and satisfy the continuing education requirement in that state. |
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Term
| As a condition of license renewal, each licensee is required to complete |
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Definition
twenty-one (21) clock hours of Commission-approved course offerings every three (3) years.
Twelve (12) of the 21 hours must be on required subjects.
The remaining nine (9) clock hours may be electives.
The required offerings will include all of these four (4) core subjects each license term:
Professional Conduct
Broker Relationships Act
Fair Housing
Current Issues, including Code and Rule updates |
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Term
| true or false: Prior to the first license expiration date, which is twelve (12) months after original issue, a PSA must successfully complete forty-five (45) clock hours of post-licensing education. |
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Definition
| true; This course of study is referred to as the Provisional Post-license Course of Real Estate, Part II of II. |
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Term
| true or false: Note: If a PSA fails to complete the post-license requirement prior to the expiration date, the associate will be ineligible to renew the license. |
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Definition
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Term
| What is the purpose of continuing education? |
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Definition
| The purpose of continuing education is to provide an educational program through which real estate licensees can continually become more competent and remain qualified to engage in real estate negotiations and transactions that best serve the public. |
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Term
| Sarah is enrolled in a Professional Conduct course at the local real estate school. She gets the flu and misses two sessions of the course. Will her hours count? Why or why not? |
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Definition
| No. Sarah cannot receive credit for the course unless she is physically present for all sessions. |
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Term
| How many hours are required per licensing term to meet the criteria for renewal? How many hours of required coursework? How many elective hours? |
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Definition
| Total number is 21 hours: 12 hours of required courses and 9 hours of electives |
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