1|Page | © copyright 2024/2025 | Grade A+
MO State Law for Real Estate
Salesperson Exam Mostly Tested
Questions and Correct Answers
(100% Pass)
License renewal
✓ Even years, every 2 years (biennially)
✓ Brokers June 30, Salespersons September 30
Continuing Ed
✓ Both brokers and salespersons: 9 hrs. electives + 3 hrs. core
Death or incapacity of broker in charge
✓ Business ceases; temporary broker license assigned by MREC to
someone for "winding up the affairs of the business"; pending agency
agreements canceled; licenses mailed to MREC; parties to pending
sales contracts will be notified as to where closing will take place
If applicant license denied
Master01 | November, 2024/2025 | Latest update
, 1|Page | © copyright 2024/2025 | Grade A+
✓ 30 days to complain/appeal to AHC (Administrative Hearing
Commission)
If applicant license revoked
✓ 90 days to complain/appeal to AHC
Escrow Account
✓ Broker to deposit within 10 banking days of acceptance of offer (unless
otherwise agreed to in writing)
Escrow Account Management
✓ Salesperson or Broker/Salesperson must deliver any check received
immediately to broker in charge
Commingling
✓ Illegal! Except for $1,000 of own money for bank fees
Broker may not use escrow funds for own use
✓ Funds remain in account until transaction closed or otherwise agreed
to in writing
Master01 | November, 2024/2025 | Latest update
MO State Law for Real Estate
Salesperson Exam Mostly Tested
Questions and Correct Answers
(100% Pass)
License renewal
✓ Even years, every 2 years (biennially)
✓ Brokers June 30, Salespersons September 30
Continuing Ed
✓ Both brokers and salespersons: 9 hrs. electives + 3 hrs. core
Death or incapacity of broker in charge
✓ Business ceases; temporary broker license assigned by MREC to
someone for "winding up the affairs of the business"; pending agency
agreements canceled; licenses mailed to MREC; parties to pending
sales contracts will be notified as to where closing will take place
If applicant license denied
Master01 | November, 2024/2025 | Latest update
, 1|Page | © copyright 2024/2025 | Grade A+
✓ 30 days to complain/appeal to AHC (Administrative Hearing
Commission)
If applicant license revoked
✓ 90 days to complain/appeal to AHC
Escrow Account
✓ Broker to deposit within 10 banking days of acceptance of offer (unless
otherwise agreed to in writing)
Escrow Account Management
✓ Salesperson or Broker/Salesperson must deliver any check received
immediately to broker in charge
Commingling
✓ Illegal! Except for $1,000 of own money for bank fees
Broker may not use escrow funds for own use
✓ Funds remain in account until transaction closed or otherwise agreed
to in writing
Master01 | November, 2024/2025 | Latest update
