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Oklahoma Brokerage Relationship Act Prep Questions and Answers | Latest Version | 2025/2026 | Correct & Verified
Under the Oklahoma Brokerage Relationship Act, a broker’s primary duty is to:
- Act only in the interest of the seller
- Offer legal advice during the transaction
- Guarantee financing for the buyer
✔✔B. Provide honesty, reasonable care, and disclosure to all parties
According to OBRA, what kind of relationship is created by default between a broker and a party to a transaction?
- Dual agency
- Designated agency
- Fiduciary agency
✔✔B. Broker services relationship
Which of the following must an Oklahoma broker disclose to all parties?
- The commission split with the buyer’s agent 1 / 3
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- The seller’s bottom line
- The personal financial situation of the seller
✔✔C. Any known material defects
What is the required timing for disclosing the Broker Services Agreement in Oklahoma?
- Before signing the closing documents
- After an offer is made
- Only if the buyer requests it in writing
✔✔B. At the first opportunity and before any confidential information is shared
When a broker provides services to both buyer and seller without written consent for dual
representation, they are acting as:
✔✔A. A transaction broker
- A seller’s agent
- A buyer’s agent
- An undisclosed dual agent
In Oklahoma, which of the following is **not** required to establish a broker relationship? 2 / 3
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✔✔A. A written agreement
- Disclosure of duties
- Provision of brokerage services
- License status of the broker
Which duty does a broker owe to **all** parties in a transaction under the Oklahoma Brokerage Relationship Act?
- Obedience to all requests
- Negotiating the best price for their client
- Guaranteeing title transfer
✔✔C. Accounting for all funds received
What kind of agreement is required in Oklahoma for a broker to act as a single-party representative?
- Oral agreement
- Implied agreement
- Verbal disclosure of duties
- / 3
✔✔B. Written brokerage agreement