Final answer:
The real estate board, appointed by the governor, has authority on all matters related to real estate regulations and policies, except for matters related to the exploration for oil, gas, and other minerals on state lands.
Step-by-step explanation:
The real estate board, appointed by the governor and consisting of nine voting members, has authority to decide on all matters related to real estate regulations and policies. However, they do not have the authority to decide on matters related to the exploration for oil, gas, and other minerals on state lands, which is controlled by the chairman of the boards within the General Land Office.