Missouri Real Estate 48 Hour Course Unit
Quizzes MO Law
c. license law - ANS Chapter 339 of the Missouri Statutes is known as:
a. Law of agency
b. code of ethics
c. license law
d. administrative commission code
c. her commission would be based on her agreement with her broker - ANS A salesperson
licensed in another state but NOT in MO comes into MO and refers her brother to a RE
company in MO to assist him in the purchase of a home. The salesperson did this with the
knowledge and permission of her broker, and the salesperson's broker cooperated with a MO
broker in the sale of the property. What commission is she due?
a. the full commission since she is licensed in another state
b. half the commission since the other half would go to her company
c. her commission would be based on her agreement with her broker
d. no commission since she is NOT licensed in MO
d. a person who negotiates or helps consumers consummate option to buy or sell real estate -
ANS Which of the following would require a real estate license?
a. an attorney transferring property for a client
b. an auctioneer employed by the owner
c. a property manager employed by a broker to only show apartments
d. a person who negotiates or helps consumers consummate option to buy or sell real estate
a. the publisher of a magazine to aid "for sale by owners" in selling their homes - ANS Which
must be licensed by the MO Real Estate Commission?
a. the publisher of a magazine to aid "for sale by owners" in selling their homes
b. a lake property developer registered with HUD
c. an employee of a corporation selling cooperate property
d. an apartment manager representing the owner who shows rental units
c. a property manager actively leasing and selling for a real estate company - ANS Which would
require a license?
a. an attorney transferring real estate for a client
,b. an auctioneer employed by an owner
c. a property manager actively leasing and selling for a real estate company
d. an owner transferring his own property
b. take his name and have a licensee return the call - ANS An unlicensed secretary is the only
one in a residential real estate office when Broker Carr from another company calls requesting
information on a property. The secretary may:
a. give him the sale price and address
b. take his name and have a license return the call
c. give any info necessary since it is another broker and not a member of the general public
d. mail the broker info
b. Chapter 339 - ANS The license law is known as:
a. Chapter 11
b. Chapter 339
c. Chapter 7
d. Chapter 12
c. they would need a license and would only be able to accept compensation from their broker -
ANS A motel desk clerk gives the names of persons looking to purchase a home who are
moving into town to a salesperson friend in exchange for a referral fee. Which BEST describes
the situation?
a. they would NOT need a license since their primary income comes from their salary
b. they had a license, they could accept referral fee from the salesperson
c. they would need a license and would only be able to accept compensation from their broker
d. they could accept compensation without a license as long as it was not in money form
b. the MREC could revoke or suspend the license - ANS The authorities are investigating a
violation of the law by a licensee. What could happen?
a. the MAHC could revoke or suspend the license
b. the MREC could revoke or suspend the license
c. the MREC could impose criminal penalties
d. the MAHC could impose criminal penalites
d. any court of competent jurisdiction - ANS The MREC, believing an unlicensed person has
violated the law, may file a complaint in:
a. only the US district court
b. only the appeals court
c. only the court in the county where the act was committed
, d. any court of competent jurisdiction
d. the MREC can investigate on its own violation - ANS A citizen phoned the MREC with a
complaint on a licensee. The MREC sent him a form to fill out, however, he never followed up
with the complaint in writing. What would the MREC do?
a. the MREC must follow up on an oral complaint
b. the MREC can NOT act on an oral complaint
c. the MREC must ignore the complaint
d. the MREC can investigate on its own violation
a. issue subpoenas for all records relevant to the complaint - ANS The MREC, in investigating a
license, may:
a. issue subpoenas for all records relevant to the complaint
b. petition the attorney general for an injunction to keep the licensee from leaving the state
c. make the licensee submit to a polygraph exam
d. subpoena out of the state residents who were involved in the transaction
b. may file a restraining order and assess a civil penalty of up to $2500 per occurrence (based
on the finding of the MAHC - ANS If an unlicensed person sells real estate for a fee, or accepts
a referral fee for a real estate transaction, the MREC:
a. may file a restraining order but has no other remedies against unlicensed individuals
b. may file a restraining order and assess a civil penalty of up to $2500 per occurrence (based
on the finding of the MAHC
c. may file a restraining order and assess a fine of $5000 payable to the MREC
d. may require the individual to take a course on real estate law
d. the MREC will NOT enter into any dispute over commission between licensees - ANS Two
brokers got into a dispute over who was due what part of a commission. One of the brokers filed
a complaint with the MREC to get it settled. Which is true?
a. the MREC will settle the dispute at the next monthly meeting
b. the MREC will make recommendations as to who should get the commission but will NOT
make the final decision
c. the MREC may revoke the license of the broker who withheld the commission falsely
d. the MREC will NOT enter into any dispute over commission between licensees
c. a friend of a licensee who receives compensation for referring a client to the license - ANS
Which of the following individuals would be required to have a real estates license?
a. an attorney
b. an auctioneer employed by the owner
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller phylliswambui. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.99. You're not tied to anything after your purchase.
