Oklahoma Property Management
Practice Questions & Answers (2026)
Property management questions on the Oklahoma exam cover both the practical aspects of managing rental properties and the landlord-tenant law specific to Oklahoma. The Oklahoma Real Estate Commission (OREC) tests security deposit limits, required notice periods for entry and termination, habitability standards, and the property manager's fiduciary duties. Oklahoma's landlord-tenant law has specific provisions — including notice requirements and tenant protections — that differ from what national study materials cover. These questions often involve scenarios where a property manager must navigate competing obligations to the owner-client and the tenant.
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Oklahoma Property Management — Practice Questions & Answers
103 questions on Property Management from the Oklahoma real estate question bank. First 10 are free — sign up to unlock all 103.
Q1. Under Oklahoma law, a residential landlord must return a tenant's security deposit within how many days after the tenancy ends?
Explanation
Oklahoma's Residential Landlord and Tenant Act requires landlords to return the security deposit within 30 days after the tenancy ends and the tenant provides a forwarding address. The landlord must provide an itemized statement of any deductions.
Q2. A property manager's primary duty is to:
Explanation
A property manager is an agent of the property owner (the principal). The manager's primary fiduciary duty is to act in the owner's best interest, which includes maximizing the property's value and income while properly maintaining the asset.
Q3. A property management agreement is best described as a(n):
Explanation
A property management agreement is a written agency contract between the property owner (principal) and the property management company (agent/broker). It defines the scope of management, fees, authority, and duration of the engagement.
Q4. Under the Oklahoma Residential Landlord and Tenant Act, a landlord's failure to maintain the premises in a habitable condition may allow the tenant to:
Explanation
Oklahoma's RLTA allows tenants to withhold rent or terminate the lease if the landlord fails to maintain habitable conditions after the tenant provides proper written notice and the landlord fails to remedy the issue within a reasonable time (typically 14 days).
Q5. A gross lease structure means the tenant pays:
Explanation
In a gross lease (also called a full-service lease), the tenant pays a flat rent and the landlord is responsible for most or all operating expenses including taxes, insurance, and maintenance. This is common in residential rentals.
Q6. A net lease requires the tenant to pay:
Explanation
In a net lease, the tenant pays base rent plus some or all property expenses. A triple-net (NNN) lease requires the tenant to pay base rent, property taxes, insurance, and maintenance — transferring most operating costs to the tenant.
Q7. A property manager who mixes owner funds with personal funds is guilty of:
Explanation
Commingling is the illegal mixing of client or owner funds with the property manager's personal or business funds. All owner funds must be kept in separate trust accounts. Conversion is the even more serious act of actually using those funds for personal purposes.
Q8. A property manager in Oklahoma who manages properties on behalf of others for compensation must have:
Explanation
Property management for compensation on behalf of others constitutes real estate brokerage in Oklahoma, requiring a broker's license or affiliation with a licensed broker. There is no exemption based on the number of properties managed.
Q9. The capitalization rate for an investment property is 9% and the annual NOI is $54,000. What is the estimated market value?
Explanation
Value = NOI ÷ Cap Rate. $54,000 ÷ 0.09 = $600,000.
Q10. Effective gross income (EGI) for a rental property is calculated as:
Explanation
Effective Gross Income = Potential Gross Income − Vacancy and Collection Losses + Other Income (such as parking fees, laundry). EGI represents the realistic income a property is expected to generate.
Q11. A property manager should conduct periodic property inspections to:
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