Final answer:
The correct answer is c) review and revise ethical standards. The Oklahoma Real Estate Commission (OREC) has a standing committee assigned with the task of ensuring ethical practices and conduct within the real estate industry in Oklahoma.
Step-by-step explanation:
The Oklahoma Real Estate Commission (OREC) maintains a standing committee to review and revise ethical standards. This committee is responsible for ensuring that all practices within the realm of real estate in Oklahoma are conducted with integrity and in accordance with the law. Typically, such a committee would handle a variety of tasks associated with ethical practices within the industry, including the development of guidelines, reviewing existing ethics rules, and proposing changes to keep up with new industry developments or legal requirements
In the real estate industry, ethical standards are crucial for the maintenance of trust between all parties involved, including buyers, sellers, and agents. The OREC’s focus on ethical standards helps in setting a professional code of conduct that real estate professionals across Oklahoma must adhere to. This ensures that they operate in a manner that is fair, transparent, and in the best interests of their clients.
To conclude, the correct answer to the student's question is c) review and revise ethical standards. This stands as one amongst the many important functions that the OREC undertakes to facilitate professional and ethical real estate transactions within the state.