Under the Oklahoma Real Estate License Code, which of the following individuals is NOT required to hold an Oklahoma real estate license to perform the described activity?
Correct Answer
B) A licensed Oklahoma attorney who manages property and negotiates leases incidental to the practice of law
Under Title 59 O.S. § 858-102, licensed Oklahoma attorneys are among the specifically enumerated exemptions from the real estate licensing requirement when performing real estate activities incidental to the practice of law. An attorney managing property or negotiating leases as part of their legal representation of a client does not need a separate real estate license. This is an Oklahoma-specific statutory exemption.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Advertising regulations govern how real estate licensees may market properties and services, requiring truthful, non-deceptive advertising that includes proper identification of the brokerage.
Antitrust violations in real estate occur when competing brokerages or agents engage in practices that restrain trade, reduce competition, or harm consumers through collusion. These violations are governed by the Sherman Antitrust Act and can result in severe penalties.
Broker supervision is the legal obligation of a designated or managing broker to oversee and be accountable for the real estate activities of all salespersons and associate brokers operating under their license.
More Practice Of Real Estate Questions
In Wyoming real estate practice, an associate broker or salesperson is not associated with a responsible broker at renewal. What should the licensee remember?
In Wyoming real estate practice, a first-time salesperson applicant completes coursework. What should the licensee remember?
A Wyoming licensee is reviewing an out-of-state salesperson applicant prepares for testing. What is the best answer?
In Wyoming real estate practice, a salesperson applicant age is reviewed. What should the licensee remember?
A responsible broker in Wyoming asks about a nonresident applicant provides home-state evidence. Which answer follows Wyoming law?
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- → For the Wyoming salesperson state portion, a licensee asks how long Wyoming renewal periods are. Which statement is correct?
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