Exam (elaborations)
Missouri State Exam 2024/2025 Questions With Verified & Completed Solutions.
- Course
- Institution
Missouri State Exam 2024/2025 Questions With Verified & Completed Solutions.
[Show more]
Content preview
Missouri State Exam QuestionsAn Individual who has been on inactive status for nine months applies to the Missouri real
estate commission to transfer to active status he supplies evidence of successful completion of -
ANS No because the individual must successfully complete the 24-hour practice course
In Missouri to avoid having to repeat the pre-examination course, how soon after satisfactory
completion of the course must a person pass the salesperson or broker examination and apply
for a license - ANS Within six months
Which of the following is true about the Missouri license law? - ANS It Prohibits an unlicensed
person from engaging in real estate transaction for another for compensation
The Missouri real estate commission would most likely investigate which of the following - ANS
The accusation that a broker had refused to pay a salesperson a commission raises issues
related to compensation and employment within the real estate industry. Failure to pay a
commission may be viewed as a violation of license laws or ethical standards.
A broker salesperson is authorized by Missouri license law to do which of the following - ANS
Take a listing in her own name
Missouri taxes on a property are $625 per year from January 1 to January 31. The Property is
sold and closes on October 31. If the taxes for the current year are prorated at closing, the
closing statement will show a... - ANS Credit to the buyer of $520.83 an debit to the seller of
$520.83
A broker changed the location of his real estate office, within how many days of the move must
the Broker notify the Missouri real estate commission - ANS 10 days
A Missouri real estate licensee negotiates the sale of a house intended for his fiancée and
himself. He properly identifies himself to the seller as a licensee, but does not tell the seller that
he is getting married to the buyer. Do the licensee's actions violate the Missouri license law? -
ANS Yes, because the licensee did not disclose his future interest in the property to the seller.
Which of the following statements by a licensee could cause a Missouri real estate commission
to file a complaint against the licensee - ANS You will be able to sell this house at a good profit
While conducting an investigation into the practice of a Licensee. The Missouri real estate
commission may - ANS Subpoena the licensee records and papers that have bearings to the
complaint
, Is the listing licensee in violation of the rules & regulations if she fails to deliver a copy of a sales
contract to the seller after the buyer has accepted the sellers counter-offer? - ANS Yes, as a
fiduciary agent to the seller, the licensee's required to provide a copy to the seller and may
provide a copy to the buyer as a courtesy.
A person planning to get a Missouri salesperson license has already referred several listings to
a realtor company. She fails to get her license and pursues another career. She has made a
previous agreement with the realtor company for a portion of the commission, can she be legally
paid? - ANS Yes, the realty company may pay her if it wishes, but the company is under no
obligation
A subdivision Developer who was not a Missouri Real estate licensee is ready to sell the
properties that she owns, which of the following advertisements would be legal in Missouri? -
ANS The developer places signs on the properties that read "for sale by owner developer"
A buyer pays a broker to find a business property in Missouri. The seller agrees to allow the
broker to list the property. The broker sells the property and collects a fee from both buyer and
seller. The seller does not know that the broker has received a fee from the buyer. Which of the
following is true in this situation? - ANS The broker has violated Missouri Real Estate License
Law by failing to identify in writing the sources of all compensation to the principals in the
transaction.
A Missouri licensee is taking a listing under a transaction Brokerage agreement. The seller asks
the licensee "at what price should I list my property" the Licensee recently conducted a sale and
analysis and believe the property should sell for 175,000. Which of the following is the licensee
best response. - ANS I can't advise you, but I can show you some comparable prices
A person Completed all pre-examination courses on February 1st but failed the License
examination on June 20. By what date must this person take the examination and submit an
application for a License to avoid retaking the pre examination class. - ANS August 1 (within 6
months)
A couple decided to list their house for sale with a broker who agreed to split the commission
equally with any broker who procured a buyer. One month into the listing the sellers signed a
sales contract that was procured by a broker from another company acting as transaction
broker. In Missouri, which of the following is true? - ANS The selling broker represents neither
the buyer nor the seller
A licensee who transfers his license to another realty firm - ANS May begin selling for the new
broker as soon as the transfer request has been mailed by priority mail to the Missouri Real
Estate Commission.
Chapter 339 of the Revised Statutes of Missouri is also called the - ANS License law
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.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
78637 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now