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13 Cards in this Set
- Front
- Back
- 3rd side (hint)
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In general when the supply of a commodity increases |
Prices tend to drop |
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The real estate market is subj. to |
Both 1 and 2 1. The cyclical changes in the national economy. 2. The law of supply and demand. |
2 answers |
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The real estate market may be described in all of the following ways except |
Movable market |
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The typical real estate licensee must have specialized knowledge ima variety of subjects which include all of the following except |
Excavation |
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The regulatory body established by the legislature and empowered to carry out the provisions of the Oklahoma Real Estate License code is the? |
Oklahoma Real estate Commission (OREC) |
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Which of the following is usually exempt from real estate licensure? |
Owners of real estate handling their own property or delegating such right to an attorney-in-fact. |
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When brokers hire associates as employees, they are responsible for paying which of the following on behalf of associates? |
All the above 1. FICA tax 2. State unemployment tax 3. Federal income tax withholding |
3 answers |
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Persons who are only responsible to their employer for the results of their work are |
Independent contractors |
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Which of the following is/are an accurate statement regarding a successful career in real estate? |
Both 1 and 2 1. Ethical conduct 2. Knowledge of a great variety of subjects |
2 answers |
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The NAR code of ethics reflects the relations of the licensee to the public, licensees to fellow brokers and licensees to? |
Clients |
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The term REALTOR is a registered trademark term and can be used by? |
Only members of NAR |
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Professional associations of specialist in various fields of real estate activity have been organized to serve the interests of their members, which of the following is not expected of such organizations? |
Passing laws to regulate licensees |
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ARELLO stands for? |
The Association of Real Estate License Law Officials |
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