PSI Oklahoma Real Estate Practice Test

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Prepare for the PSI Oklahoma Real Estate Test with flashcards and multiple choice questions, all equipped with hints and explanations. Master the material and pass your exam confidently!

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 must a broker disclose when liquidating a brokerage to retire?

His investment strategy
His prior sales record
That he is a licensed realtor
His personal financial statements

The correct answer is: That he is a licensed realtor

When liquidating a brokerage to retire, a broker has an obligation to disclose that he is a licensed realtor. This is crucial because transparency regarding one’s professional status is essential in maintaining trust and integrity within the real estate market. It ensures that clients and customers are aware of the broker's qualifications and can make informed decisions regarding their transactions. Disclosing professional licensure also helps to uphold regulatory and ethical standards in the industry. It informs all parties involved in the liquidation process that the broker has undergone the necessary training and has the requisite knowledge of real estate practices. The other options, while potentially relevant in certain contexts, do not hold the same importance in the context of informing clients and stakeholders about the broker’s legal standing within the realm of real estate. Therefore, emphasizing the broker's status as a licensed realtor is the most pertinent disclosure during the winding down of a brokerage operation.