Exam Cheat Sheet · Quick Reference

Ohio Real Estate Salesperson

Ohio  ·  PSI Services Real Estate

Verified, not estimated. Every figure below is drawn from the official exam structure we maintain — question counts, passing standard and topic weighting. Practice questions are grounded in the source law with statute citations. We omit any figure we can't verify rather than guess at it.
Total questions
40
Passing score
70%
Exam time
60 min
Administered by
PSI Services Real Estate
Format
Closed-book

Ohio State Portion 40 questions

State Governance of the Real Estate Profession 4 Q · 10%
General Powers and Structure of Governing BodiesAudit of RecordsInvestigations, Hearings and AppealsViolations and Penalties (Education Sanctions/Reprimands)Recovery Fund
Licensing Requirements 6 Q · 15%
Activities Requiring a LicenseLicense Renewal and MaintenanceChange in License Status (military, retired, inactive)Post License Education and Continuing Education
License Law and Rules of the Ohio Real Estate Commission 16 Q · 40%
Advertising/Use of Business Name/Misrepresentation/Team AdvertisingBroker/Salesperson Employment or Independent Contractor AgreementCommissions and fees paid through broker only/Agent compensationDocument Handling and Record Keeping (Includes Contracts and Listings)Handling of Monies/Considerations (Items of Value)Trust or Special AccountsTypes of Listings and RulesOffers, Counteroffers, Acceptance (including electronic documents)Ohio Broker Lien LawInducementsAncillary Trustee (Procedure if Broker Dies)Property Management (Includes Leases) +3 more
Brokerage Relationships (Agency Law) 14 Q · 35%
Creating Agency and Agency Contracts/Types of Agency RelationshipsLicensee Duties and Obligations to Clients and Customers, Licensee Liabilities, Waiver of DutiesTermination of AgencyConfidentialityDisclosure of Agency Relationships and Listing InformationDisclosures Required when Dealing with Own PropertiesUnauthorized Practice of LawFalse Representations of Licensee Status or ExpertiseCanon of Ethics

Key Distinctions

Exclusive agency agreementvsExclusive right to sell/lease listing agreement

Under an exclusive agency agreement the broker is compensated unless the property is sold or leased solely through the seller's own efforts (or to specifically exempted persons), while under an exclusive right to sell the broker is compensated even if the seller personally finds the buyer.

Ohio Chapter 4735, Section 4735.01(V)
ORC 4735.18(A)(3) — continued course of misrepresentationvsORC 4735.18(A)(1) single knowing misrepresentation / (A)(6) dishonest dealing

(A)(3) targets a continued course of misrepresentation or making of false promises through agents, salespersons, advertising or otherwise, whereas (A)(1) covers a single knowing misrepresentation and (A)(6) covers dishonest dealing or misconduct generally.

Ohio Chapter 4735, Section 4735.18(A)(3)
Post-license educationvsContinuing education

Post-license education is 20 hours that a newly licensed salesperson must complete within twelve months of license issuance, while continuing education is 30 hours required for each three-year renewal period.

ORC 4735.09(J)
Waivable agency duties (ORC 4735.63 / 4735.65)vsNon-waivable duties (ORC 4735.62)

Duties under 4735.63 or 4735.65, such as the duty to present all offers, may be waived if the client agrees and signs a waiver of duties statement, but the core duties under 4735.62 (loyalty, confidentiality, honesty) may not be waived by a client.

ORC 4735.621(B)
Ohio fair housing protected classesvsFederal fair housing protected classes

The federal Fair Housing Act protects seven classes (race, color, religion, sex, national origin, familial status, disability), while Ohio adds military status and ancestry.

ORC 4735.16(D)
Ohio Real Estate CommissionvsSuperintendent and Division of Real Estate

The Superintendent and Division handle day-to-day investigations under ORC 4735.05(B)(3)-(4), but the Commission holds ultimate authority over investigation and discipline, including revocation, suspension, fines, reprimand and added education.

ORC 4735.051(G); ORC 4735.051(I); ORC 4735.03
Appeal to Court of Common Pleas of Franklin CountyvsAppeal directly to the Ohio Supreme Court

Commission disciplinary orders are appealed under ORC 119.12 to the Franklin County Court of Common Pleas; a case can reach the Ohio Supreme Court only after proceeding through intermediate appellate courts.

ORC 4735.19
Active license statusvsInactive license status

A licensee on inactive status may not practice real estate or receive compensation for real estate activity and must reactivate first; inactive licensees under age 70 also remain subject to CE, with automatic suspension for failure (licensees 70 or older on inactive status are exempt from CE).

ORC 4735.02(A)
Attorney acting in performance of the attorney's dutiesvsAttorney operating a real estate brokerage

ORC 4735.01(I)(1)(d) exempts an attorney only for legal services incidental to the law practice; an attorney who engages in the brokerage business as a primary activity needs a real estate license.

ORC 4735.01(I)(1)(d)
Property management accounts held in each owner's namevsBrokerage trust/special account

A brokerage using accounts in the owners' names must still comply with paragraphs (C) and (E) of Rule 1301:5-5-11, including an accounting to each owner at least quarterly, whereas brokers otherwise must keep a special or trust bank account, separate from personal or other accounts, for rents, security deposits and escrow funds at a state or federally chartered institution located in Ohio.

Ohio Adm. Code 1301:5, Rule 1301:5-5-23(C)
Disciplinary fine against a licenseevsCivil penalty for unlicensed activity

The Commission may fine a licensee up to $2,500 per violation under ORC 4735.051(I), while for unlicensed activity under ORC 4735.052(C)(4) it may assess a civil penalty up to $1,000 per violation with each day of violation a separate violation.

ORC 4735.051(I)
Death of the listing salespersonvsDeath of the broker

The listing agreement is between the seller and the broker, so it does not terminate when the listing salesperson dies (another licensee may service it), while the death of the broker leads to appointment of an ancillary trustee to wind down the brokerage and handle pending transactions and client funds.

ORC 4735.01(U)

Key Terms

Exclusive agency agreement (ORC 4735.01(V)(2)) Ohio Chapter 4735, Section 4735.01(V)
An agency agreement providing that the broker is compensated unless the property is sold or leased solely through the efforts of the seller or to specifically exempted persons.
Exclusive right to sell or lease listing agreement (ORC 4735.01(U)) ORC 4735.01(U)
An agency agreement between a seller and broker under which the broker is entitled to compensation regardless of who sells the property during the listing period, including a buyer the seller finds independently.
Single act rule (ORC 4735.01(H)) Ohio Chapter 4735, Section 4735.01(H)
Any person who, for another and in consideration of compensation, does or offers to do even a single act or transaction within the broker definition — whether incidental to or the entire transaction — is constituted a real estate broker or salesperson under Chapter 4735.
Ohio Real Estate Recovery Fund (ORC 4735.12) ORC 4735.12(B)(1)
A state fund that compensates consumers who suffer financial harm from a licensee's fraudulent or improper acts when the licensee cannot satisfy the judgment or damages.
Ancillary trustee (ORC 4735.05(C)(3)(a); OAC 1301:5-3-02) ORC 4735.05(C)(3)(a)
A person appointed when a broker dies or becomes incapacitated to wind down the brokerage, complete pending transactions and handle trust account funds.
License on deposit (ORC 4735.13(G)) ORC 4735.13(G)(1)
A status allowing a broker or salesperson entering the armed forces to deposit the license with the Commission, with no renewal required until the renewal date following discharge.
Post-license education (ORC 4735.09(J)) ORC 4735.09(J)
20 hours of instruction — in schools, seminars and educational institutions approved by the Ohio Real Estate Commission — covering topics such as commercial real estate, property management, short sales, land contracts, contract law, federal and state programs, economic conditions and fiduciary responsibility, due within twelve months of license issuance or the license is automatically suspended.
Continuing education (ORC 4735.141(A)) ORC 4735.141(A)
30 hours of approved instruction, including core and elective hours, required of a salesperson for each three-year renewal period.
Illegal inducement (ORC 4735.18(A)(14)) ORC 4735.18(A)(14)
Offering anything of value other than the consideration recited in the sales contract to induce a person to enter a contract to purchase or sell real estate, such as a free vacation package, which is always prohibited and grounds for discipline.
Undisclosed principal / dual capacity (ORC 4735.18(A)(15)) ORC 4735.18(A)(15)
A disciplinary violation committed when a licensee acts as both broker or salesperson and undisclosed principal in a transaction, so a licensee buying for their own account must disclose license status and principal role to all parties.
Dual agency (ORC 4735.71) ORC 4735.71(A); ORC 4735.18(A)(4)
Acting for more than one party in a transaction, which requires the written informed consent of both buyer and seller; doing so without it violates ORC 4735.18(A)(4).
Waiver of duties statement (ORC 4735.621(B)) ORC 4735.621(B)
A signed client agreement that waives licensee duties required under ORC 4735.63 or 4735.65; duties under ORC 4735.62 may not be waived.
Record retention requirement (ORC 4735.18(A)(24)) ORC 4735.18(A)(24)
The duty to keep complete and accurate records of all transactions — including listing forms, earnest money receipts, offers and acceptances, and records of receipts and disbursements of funds received as broker — for three years from the date of the transaction.
Advertising identification requirement (ORC 4735.16(B)(1),(B)(3)) ORC 4735.16(B)(1) and (B)(3)
A broker or salesperson advertising to buy, sell, exchange or lease real estate must be identified by name and indicate the affiliated brokerage, with the brokerage name displayed in equal prominence with the salesperson's name.
Military status ORC 4735.16(D)
An Ohio-protected housing class, listed in ORC 4735.16(D) along with race, color, religion, sex, familial status, national origin, disability and ancestry, that extends beyond the federal protected classes.
Investigation limitations period (ORC 4735.32(A)(1)) ORC 4735.32(A)(1)
The Commission or Superintendent may commence an investigation of a licensee at any time within three years from the date the alleged violation occurred; otherwise it is barred.

Formulas to Know

Maximum Recovery Fund payout per licenseeFund liability ≤ $40,000 for any one licensee, regardless of the number of claims; if insufficient, the $40,000 is distributed among claimants proportionally to their respective claims. After reactivation with full repayment (ORC 4735.12(E)), liability resets to $40,000, but only for transactions occurring after reactivation.
Maximum disciplinary fineFine ≤ $2,500 per violation (in addition to possible revocation, suspension, public reprimand, and additional continuing education).
Civil penalty for unlicensed activityPenalty ≤ $1,000 per violation; each day the violation occurs or continues = one separate violation.
Continuing education per renewal30 hours of CE per 3-year renewal period (license renewed every 3 years).
Post-license education deadline20 hours completed and proof submitted not later than 12 months after the date of license issuance; failure = automatic suspension.
CE deadline for licensees returning from active military dutySatisfy CE within 12 months of the first birthday after discharge, or within a period equal to the total months of active duty — whichever is greater.
Record/trust account retention periodRetain all transaction and trust account records for a minimum of 3 years, measured from the date of the transaction (closing or termination).
Investigation commencement windowInvestigation must be commenced within 3 years from the date the alleged violation occurred, or it is barred.
Appeal deadline for Commission ordersFile the appeal in the Franklin County Court of Common Pleas within 15 days of the mailing of the notice of the agency's order.
Owner accounting frequency in property managementProvide an accounting to each property owner on a regular basis, but not less than quarterly.
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