Missouri Real Estate - State Portion Only Exam Questions and Answers
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Course
Missouri 2024/2025
Institution
Missouri 2024/2025
Missouri Real Estate - State Portion Only
Exam Questions and Answers
In the event of the death or incapacity of a licensed broker: - Ans:-May issue a temporary broker
license to individual approved by the commission
What is the maximum fine for violations the commission my charge? - Ans:-$25,00...
How many Continuing Education Credits do licensee's need to obtain before renewal? - Ans:✔✔-12, 3
required and 9 Elective
What happens if a licensee does not finish CE credits before renewal? - Ans:✔✔-$50 fee per month not
completed up to $200 then they must retake the Missouri practice class (24 hours)
If a salesperson is terminated how long does a broker have to notify the commission? - Ans:✔✔-72 hours
What does a licensee need to do to keep an inactive license? - Ans:✔✔-Must re-apply and pay fees every
2 years, no CE credits are needed
How does an inactive licensee change to an active license? - Ans:✔✔-Take the 24 hour practice class and
re-apply within 6 months
What does the Missouri law say about disclosures? - Ans:✔✔-All must be in writing
Where does commission appear in contracts? - Ans:✔✔-In listing agreement and HUD. NEVER in sales
contract
What do brokers not need to keep a record of? - Ans:✔✔-Title insurance policy
How long must a broker obtain records? - Ans:✔✔-3 years
What is Missouri's law on net listings? - Ans:✔✔-They are ILLEGAL
When must escrow money be deposited? - Ans:✔✔-Within 10 Banking days after a contract is made
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