Do you think it is okay if I pursue masters in psychology from an online school?

I used to know a waitress who got a job with the state of New Mexico based on an online degree, I believe from Phoenix University. I don't recall the field or level of the degree, but at least they are not all scams.

Just out of curiosity, what is the entrance exam? Is it to show you are qualified to enter an educational program, or what?

An additional thought; psychology just may be something done in a physical classroom, where you are relating more with instructor and other students. As I say, just a thought.

Just in case this isn't spam...what we think doesn't matter.

If you wish to be employed as a psychologist you need to contact the Registration Boards of any states you wish to work in and find out if this degree is accepted by them.

If not, it's useless.

The first question to ask is: is the institution accredited?
If the answer is "no", you should stop right there.
The second question is dlowen's: are online degrees accepted where you
wish to use one? This includes employers and state boards.

Having said that, I would think that an online degree would be more
acceptable in high-tech, internet, and media-based fields and far
less accepted in psychology.

I think you would lose a lot, by not having fellow students to work with,
the chance to interact with professors, and the opportunities for
volunteer work in the field that would be available in a brick-and-mortar
institution.

My son graduated with a degree in psychology from McGill University
(Montreal) last year and found the above to be helpful.