MO State Law for Real Estate Salesperson Exam Mostly Tested Questions and Correct Answers (100% Pass)
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Course
MO State Law for Real Estate
Institution
MO State Law For Real Estate
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...
✓ 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
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