PSI Oklahoma Real Estate Practice Test

Which type of real estate license allows one to operate under the supervision of a licensed broker?

1. Full Real Estate License

2. Broker License

3. Provisional License

4. Realtor Designation

The correct answer is: Provisional License

The type of real estate license that allows an individual to operate under the supervision of a licensed broker is the provisional license. This license is often granted to new agents who have not yet completed the necessary education or experience requirements to obtain a full real estate license. The primary purpose of the provisional license is to provide these individuals with an opportunity to gain practical experience in the field while working closely with a broker. During this phase, the licensed broker assumes responsibility for the actions of the provisional licensee, ensuring that they are following established laws and best practices in the real estate industry. This regulatory framework helps protect consumers and ensures that new agents receive the mentorship necessary as they transition into becoming more independent professionals. In contrast, a full real estate license allows for independent operation without supervision, while a broker license indicates a higher level of experience and knowledge, allowing individuals to manage their own real estate business. The Realtor designation, on the other hand, is a professional title associated with membership in the National Association of Realtors and does not imply a specific type of licensing authority.