PSI Oklahoma Real Estate Practice Test

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Prepare for the PSI Oklahoma Real Estate Test. Access flashcards and multiple choice questions, each with hints and explanations. Excel in your exam!

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The revolving fund is under the management of which entity?

Oklahoma Department of Revenue.
Oklahoma Real Estate Commission (OREC).
Federal Housing Administration.
Oklahoma Bureau of Standards.

The correct answer is: Oklahoma Real Estate Commission (OREC).

The revolving fund is managed by the Oklahoma Real Estate Commission (OREC). This organization is responsible for regulating the real estate industry in Oklahoma, which includes overseeing the education and licensing of real estate professionals. The revolving fund serves as a financial resource to support OREC's operations and initiatives, such as funding programs that enhance consumer protection in real estate transactions. The other entities mentioned do have important roles within their respective areas—such as tax administration in the case of the Oklahoma Department of Revenue and housing finance under the Federal Housing Administration—but they do not handle the revolving fund specific to real estate regulation in Oklahoma. The Oklahoma Bureau of Standards focuses on issues related to construction and building codes, which is also outside the scope of real estate licensing and regulation. Thus, the management of the revolving fund is a function distinctly tied to OREC's mission to protect consumers and maintain a stable real estate market in Oklahoma.