2025 - Missouri Real Estate Portion Only Real Esta
2025 - Missouri Real Estate Portion Only Real Esta
Exam (elaborations)
2025 - Missouri Real Estate Portion Only Real Estate Exam questions and (VERIFIED) answers rated A+
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2025 - Missouri Real Estate Portion Only Real Esta
Institution
2025 - Missouri Real Estate Portion Only Real Esta
Who makes the final decision to suspend, revoke or place a license on probation? -
️️THE MREC.
What can MAHC NOT do? - ️️They cannot:
• can NEVER fine a licensee
• will NEVER be involved in disputes between licensees or companies.
• deal with someone who commits a crime outside o...
2025 - Missouri Real Estate Portion Only Real Esta
2025 - Missouri Real Estate Portion Only Real Esta
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2025 - Missouri Real Estate Portion Only
Real Estate Exam questions and
(VERIFIED) answers rated A+
Who makes the final decision to suspend, revoke or place a license on probation? -
✔️✔️THE MREC.
What can MAHC NOT do? - ✔️✔️They cannot:
• can NEVER fine a licensee
• will NEVER be involved in disputes between licensees or companies.
• deal with someone who commits a crime outside of license law. They will turn it over to
the attorney generals office.
What does a broker do? - ✔️✔️Performs real estate activities for another and collects
commission.
Supervises licenses under them.
Maintains escrow accounts.
Manages company and responsible for all licensed to him/her.
Pays ALL fees and commissions to individuals licensed under her and cooperating
brokers.
All arrangements belong to the broker and stay with the broker upon transfer of the
license.
Purpose of MREC - ✔️✔️Protect the public. Established by state legislature.
Someone that is not licensed by MREC is not subject to rules or regulations other than
person practicing without a license. "Court of competent jurisdiction" to make party stop.
True or False - ✔️✔️True. Any person, corporation, partnership or association licensed
by the MREC could be accused of a license law violation. Which is a class B
misdemeanor. Anyone not licensed is not subject to MREC rules besides practicing
without a license.
The MREC is made up of - ✔️✔️7 Members. Have to have been a us citizen for 1 year
at least. Appointed by the governor with consent of the Missouri senate. 6 members
must have been licensed brokers for 10 years. 1 member from general public.
,The MREC allows - ✔️✔️All members to vote. Members may hold an inactive license
during employment. Cannot be actively involved in the real estate business. $75 a day
when meeting. Plus expenses.
What makes up the MAHC? - ✔️✔️•3 attorney generals employed by the state. Work
directly for the attorney general. Admitted to practice before the Missouri Supreme
Court.
•must send case to the MAHC to determine whether or not they are charging the
licensee.
• if the MAHC feels the MREC is not correct the case is dismissed.
• if they feel that they are correct, the case is sent back to the MREC so the license can
be revoked, suspended, or put on probation.
What does MAHC do? - ✔️✔️• stops practicing real estate without a license.
• holds hearing when requested by the MREC.
• determine guilt or innocence. Case dismissed if innocent.
• a person who is refused a license by the MREC has a right to appeal that decision to
the MAHC.
If broker changes the company office the MREC needs notice within - ✔️✔️10 days
License renewal for brokers are - ✔️✔️June 30th every 2 years
License renewal for salespersons - ✔️✔️September 30th every 2 years.
Independent contractors - ✔️✔️Broker cannot tell them HOW to do something. They
can tell them what to do. They also get tax form 1099.
How many brokers are allowed per company? - ✔️✔️Only one
How does a broker become a broker-salesperson - ✔️✔️Sends brokers license to the
MREC for safe keeping and operates as a broker-salesperson. Can act as a branch
sales manager and can continue to sell property. They DO NOT hold licenses. All
licenses are held by the principal broker.
All licenses are held by - ✔️✔️The broker
For broker officers of a Corp to happen - ✔️✔️The MREC requires name, residence,
and business address of each partner in partnership licensed or unlicensed.
The corporation must be in good standing with the Secretary of State. Must be notified
of any changes and must be registered with the sec of state.
, ***A salesperson can be an officer of a corporation but CANNOT be involved in
management.
A professional corporation must have - ✔️✔️A designated broker.- any individual
licensed as a broker who is operating pursuant to the definition of real estate broker.
The MREC only communicates with the designated broker!
A salesperson: - ✔️✔️Must be licensed to a broker who is responsible for all real estate
related activities.
• can not manage other licensee without a type of broker license.
• must pass the 48 hour course, the AMP exam, and the 24 hour Missouri Real Estate
practices course before applying for a license. Must be a high school graduate or
equivalent and be at least 18 years of age.
• must have submitted finger prints to the mo highway patrol and background check.
• must receive all earned fees from broker and cannot be paid to others for referrals or
any other reason. Another broker cannot pay a salesperson not licensed with him or
her.
Another broker cannot pay a salesperson not licensed with him or her EXCEPT when -
✔️✔️If you're licensed and transfer to another broker, with a transaction waiting to
close, to your written agreement with your original broker will determine if you are
entitled to commission when the transaction closes. If so, the PREVIOUS broker will
pay you directly.
In the case of an inactive license or out of business what must be done? -
✔️✔️Broker/salesperson returns a licensees license to the MREC. The MREC holds
the license in inactive status. Once their license is inactive status they cannot collect
fees. Even from referrals. Must still renew an inactive license every 2 years on Sep 30th
and pay fees. NO CONTINUING EDUCATION COURSES ARE NEEDED WHILE
LICENSE IS INACTIVE.
Are continuing education courses required with an inactive license? - ✔️✔️NO. But you
must still renew license every 2 years and pay fees.
To reactivate a license - ✔️✔️You have to the the 24 hour Missouri practices course.
What is issued upon the death of a sole proprietary broker? - ✔️✔️Temporary brokers
license.
Requirement of a nonresident broker - ✔️✔️If they hold a brokers license in different
state and it's active, must have 24 of the last 30 months experience as a broker or
salesperson. Pass the state broker exam and apply for licensure within 6 months. 48
hour course not required.
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