Missouri real estate exam - Study guides, Class notes & Summaries

Missouri Real Estate Exam. Ownership

Chapter 339 of the MO Statutes is: Code of Ethics License Law MLS Rules For commercial agents only correct answers b Susie is employed by broker Joe to show rental properties that he manages. She shows rental units, collects security deposit checks made payable to the owner, and delivers leases. Based on these actions, Susie: Must be a real estate licensee Is violating MREC rules Is creating a criminal offense Is not required to be a MO Real estate licensee correct answers d Th...

Missouri Real Estate Practice Exam Questions With 100% Verified Answers A farmer sold his farm. Several months later the farmer was able to go back and harvest the crops he planted. The crops are called: - answerEmblements A bill of sale would be the document used to convey what? - answerA refrigerator A commercial tenants lease was about to expire. The tenant wanted to remove some shelving that he had installed. Could he do this? - answerYes, if he removes the shelves before the lease ex...

Which of the following is a true statement about investigations into licensees once a complaint has been filed with the MREC? A. Licensees are required to respond to the complaint in writing and make records available to the MREC. B. The Administrative Hearing Commission is responsible for investigating the matter to determine whether it's likely that the licensee violated license law. C. The MREC has the authority to conduct a formal hearing to determine whether the licensee has violated ...

Statute of Frauds - ANSWER-Requires a real estate contract to be in writing in order to be enforceable real estate contracts - ANSWER-A contract that sets forth all details between the buyer and seller for the purchase and sale of real estate implied contract (ostensible agreement) - ANSWER-a contract demonstrated by actions or conduct Expressed contract - ANSWER-a contract that may be oral or in writing. The parties state terms and show intentions in words bilateral contract (sales ...

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Missouri Real Estate Practice Exam With Complete Solution

A farmer sold his farm. Several months later the farmer was able to go back and harvest the crops he planted. The crops are called: correct answers Emblements A bill of sale would be the document used to convey what? correct answers A refrigerator A commercial tenants lease was about to expire. The tenant wanted to remove some shelving that he had installed. Could he do this? correct answers Yes, if he removes the shelves before the lease expires Which would not be considered real prope...