Missouri Real Estate
A license may be granted to which of the following ️An applicant who filed bankruptcy in the last 5
years
Broker Ty appoints salesperson Edwina as a buyer's agent and salesperson Edmond as a seller's agent.
Why is Broker Ty doing this ️To avoid dual agency
A broke...
Missouri Real Estate
A license may be granted to which of the following ✔️An applicant who filed bankruptcy in the last 5
years
Broker Ty appoints salesperson Edwina as a buyer's agent and salesperson Edmond as a seller's agent.
Why is Broker Ty doing this ✔️To avoid dual agency
A broker in a written agreement with a landlord: ✔️Is a landlord's agent
Selling a home "as is" ✔️Does not relieve a licensee from disclosing known adverse material facts.
If the Missouri Real Estate Commission chooses to deny an application for licensure, how must the
applicant be notified ✔️In writing, by certified or registered mail, stating the reason for the denial and
the right to appeal.
Mary Beth, a Missouri resident, took the 48-hour pre-examination coursework, completed the Missouri
Real Estate Practice Course, submitted to a fingerprint background check and applied for a license within
the proper timeframes. Yesterday she received a registered letter from the MREC denying her license.
What did Mary Beth do? ✔️She completed the Missouri Real Estate Practice Course before completing
the 48-hour pre-exam course.
To renew a salesperson's inactive license, how often must the licensee pay? ✔️By September 30 of
even years
Jessica and Emily, both active brokers, are considering creating a real estate corporation together. How
many licenses would be required? ✔️Three, one for Jessica, Emily and the corporation.
Jamal, a licensee with Big Time Real Estate, is out showing property to the Rodriguez family. He shows a
property at 123 Waterford Drive. Next door at 121 Waterford Drive is a home with a "for sale by owner"
sign. The Rodriguez family is interested in viewing the "for sale by owner" property. Jamal should:
✔️Contact the 'for sale by owner' and obtain authorization in writing before showing the property
,Broker Bob has been contacted by the seller of Broker Jim. The seller is requesting Broker Bob prepare
and complete a quit claim deed to help expedite the closing with Broker Jim due to a title cloud that was
discovered which could prevent the transaction from closing. Broker Bob goes onto the internet and
finds sample quit claim deeds. He creates a rough draft of a quit claim deed, sends it to his attorney who
approves the form after he makes some additional changes and Broker Bob has the seller sign it. Broker
Bob charges the seller $3,000 for this service. Which of the following statements best applies to this
situation? ✔️Broker Bob is disallowed from assisting a party in a transaction he is not part of.
A buyer and a seller request the listing salesperson close the transaction. Which of the following
statements is correct? ✔️A salesperson can handle the closing if done under the direct supervision of
the broker.
Dual agency requires: ✔️Written consent of all parties
A branch office must: ✔️Be managed by someone with a broker type license
Salesperson Sam with Big Bird Properties obtained the listing at 221 Main Street. Salesperson Sam has
decided to transfer his license to Sesame Realty. What is the obligation of the broker at Big Bird
Properties to the listing? ✔️The broker should continue representing the seller and marketing the
property for sale.
Which of the following listing agreements is disallowed in the state of Missouri? ✔️Net listing
A salesperson working for a large company wants to transfer from one branch office to another. In this
case: ✔️The salesperson simply moves to the new branch location.
Dawn, a licensed salesperson, was at a party and met a young couple who expressed interest in buying a
home. Dawn mentioned that she was thinking of selling her own home and that she would be happy to
show it to them. In this case, which of the following is true? ✔️The salesperson must immediately
disclose that she is licensed and the owner of the property.
An injunction may be placed against a person who is suspected of violating the license law. Who would
file for the injunction? ✔️Missouri Real Estate Commission
, The Missouri Broker Disclosure Form must be: ✔️On a form prescribed by the Missouri Real Estate
Commission
Which of the following is true for a licensee applicant regarding the licensing examination? ✔️The
applicant shall have met the testing requirement if the licensee takes and passes the licensing
examination no later than 6 months from the date listed on the pre-examination course Certificate of
Completion.
If you receive a "Certificate of Completion" on February 1st, what is the last date that you may apply for
the license? ✔️August 1st
It is the broker's responsibility to: ✔️Have regular business hours
The Missouri Real Estate Commission has refused to issue a license to an applicant who has completed
all the necessary requirements for a license. The applicant may appeal to the: ✔️Missouri
Administrative Hearing Commission
A licensee shall not negotiate or enter into a brokerage service agreement with a buyer if the licensee
knows: ✔️The buyer is in an exclusive written agreement with another agent.
A broker has a listing that expires on August 1st. The seller contacted and signed a listing agreement
with another broker that goes into effect on August 2nd. This is: ✔️Allowable if the seller contacted the
broker first
Regarding a broker's escrow account: ✔️The broker may place his or her personal money into this
account.
Which of the following would a salesperson be permitted to give persons attending an open house in a
subdivision? ✔️Informational packets provided by a local golf club, which includes discount
membership information
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