PSI Oklahoma Real Estate Practice Test

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Prepare for the PSI Oklahoma Real Estate Test. Use flashcards and multiple choice questions, each question with hints and explanations. Get ready for your exam!

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!

Practice this question and more.

A broker is required to maintain records that?

Are stored digitally only
Clearly disclose full compliance with the law
Are kept for a maximum of three years
Are maintained at the broker's home

The correct answer is: Clearly disclose full compliance with the law

A broker is required to maintain records that clearly disclose full compliance with the law because this is essential for regulatory purposes and protecting the interests of all parties involved in real estate transactions. Proper record-keeping ensures that the broker can provide evidence of adherence to legal requirements, which can be crucial in case of disputes, audits, or legal challenges. Maintaining accurate records not only demonstrates transparency but also helps in ensuring that the broker is operating within the legal framework established by the state. This includes documentation related to transactions, disclosures, communications, and client agreements. By having comprehensive records, brokers can safeguard against liabilities and foster trust with clients, regulatory agencies, and other stakeholders in the real estate market. Although other options touch on aspects of record-keeping practices, such as storage methods or timeframes, the overarching principle focuses on legal compliance as the primary reason for maintaining these records.