PSI Oklahoma Real Estate Practice Test

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Prepare for the PSI Oklahoma Real Estate Test. Use flashcards and multiple choice questions with hints and explanations. Excel on your exam!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

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What entity typically oversees and regulates real estate practices in Oklahoma?

The Oklahoma State Legislature
The Oklahoma Real Estate Commission
The Federal Housing Administration
The Department of Housing and Urban Development

The correct answer is: The Oklahoma Real Estate Commission

The Oklahoma Real Estate Commission is the entity responsible for overseeing and regulating real estate practices in Oklahoma. This commission ensures that real estate professionals adhere to the laws and regulations governing real estate transactions within the state. It is tasked with educating consumers about their rights, enforcing ethical standards among licensees, and handling complaints against real estate brokers and salespersons. The commission also administers the licensing process, ensuring that only qualified individuals can practice real estate in Oklahoma. This regulatory function is essential for maintaining the integrity of the real estate market and protecting consumers from fraudulent practices. Other options, such as the Oklahoma State Legislature, play a role in creating laws but do not directly regulate real estate practices. The Federal Housing Administration and the Department of Housing and Urban Development operate at a national level and focus on broader housing policies, rather than the specific oversight of real estate practices within individual states like Oklahoma.