MO Real Estate Guaranteed Success
Commercial real estate, as defined by Missouri real estate commission general rules, includes real estate
️with stores or office buildings.
Which of the following activities would be considered a ministerial act under Missouri statute?
️Accompanying an ...
MO Real Estate Guaranteed Success
Commercial real estate, as defined by Missouri real estate commission general rules, includes real estate
✔️with stores or office buildings.
Which of the following activities would be considered a ministerial act under Missouri statute?
✔️Accompanying an appraiser, inspector, contractor, or similar third party on a visit to a property
In general, residential real estate is defined as real property improved by a structure that is used, or
intended to be used, primarily for residential living by human occupants and that contains not more
than ✔️4 dwelling units.
A form of agency that may result when an agent licensee, or someone affiliated with the agent licensee,
represents another party to the same transaction is called ✔️a dual agency.
A person with a real estate broker license who, for compensation, becomes associated, either as an
independent contractor or employee, with a real estate broker is ✔️a broker-salesperson.
As defined in the Missouri statutes, advertising includes ✔️websites, business cards, signs
An actual or potential seller, landlord, buyer, or tenant in a real estate transaction in which a licensee is
involved, but has not entered into a brokerage relationship with the licensee, is considered ✔️a
customer.
A seller, landlord, buyer, or tenant who has entered into a brokerage relationship with a licensee is
considered ✔️a client.
The definition of real estate broker in the Missouri statutes does not apply to a person employed by the
owner of the property to ✔️auction the property.
A transaction broker is any licensee who ✔️assists the parties to a transaction without an agency or
fiduciary relationship to either party and is, therefore, neutral.
, Within how many days after a broker changes his name, home, or business address must the broker
notify the commission? ✔️10 days
How many brokers may a broker-salesperson or salesperson be licensed with during the same period?
✔️One
If the designated broker renews his broker's license but does not renew the company license, ✔️all
licenses affiliated with the company are invalid until the broker renews the company license.
What are the fees that must be paid for original issuance of a salesperson license? ✔️Application fee of
$50 plus original issuance fee of $40
If a broker returns her license to the commission, how long does she have to change her status or
reinstate the license? ✔️Six months
A licensee surrenders her license to the commission but does not transfer to another broker or change
her license status. If the subsequent renewal period passes, and the licensee then wishes to again
practice real estate, she must ✔️requalify as if an original applicant.
Within how many days after a change in name or home address must the licensee notify the
commission? ✔️10 days
A licensee realizes she did not receive the notice and application to renew her license from the
commission and is now past the renewal deadline. In this situation, ✔️failure of a licensee to receive
the notice and application to renew from the commission does not excuse the licensee from the
requirements for renewal.
When a licensee's license is surrendered to the commission, how long does the licensee have to transfer
to another broker or change license status? ✔️6 months
What is the fee that must be paid to renew a salesperson license? ✔️$40
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