A missouri broker - Study guides, Class notes & Summaries
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Real Estate Practice Exam (Missouri) Questions and Answers
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Real Estate Practice Exam (Missouri) 
Questions and Answers 
An ad in the local paper was placed by Sarah, a licensed salesperson, on behalf of her 
seller. The ad reads "Beautiful country lots located on Lake Ivory. Must see! With the 
purchase of one gorgeous lakeside lot, you will receive a second free. Plus, all 
purchasers' names will be entered into our lottery sweepstakes! Come soon while lots 
are still available." Which of the following statements concerning the ad is the most 
accur...
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MO Real Estate Exam Practice Questions and Answers
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MO Real Estate Exam Practice 
Questions and Answers 
Mo Statute 339 - Correct Answer ️️ -License Law RSMO 1986 
License Law - Correct Answer ️️ -Any person who performs a RE service on behalf of 
another party for CONSIDERATION must be licensed; i.e. broker transactions, 
managing property, appraising, counseling, syndicating, auctioning 
Consideration - Correct Answer ️️ -Includes $ compensation, exchange of free 
services, or any other valuable good or service that a person expects...
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Missouri Real Estate Exam Questions and Answers
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Missouri Real Estate Exam Questions and Answers 
Chapter 339 of the MO Statutes is: 
Code of Ethics 
License Law 
MLS Rules 
For commercial agents only - Correct Answer ️️ -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 t...
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Missouri Real Estate Exam Study Guide | 160 Questions with 100% Correct Answers | Verified | Latest Update 2024
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The MREC requires the brokers for the buyer and seller to retain legible copies of both buyer's and 
seller's signed closing statements - 3 years 
By what title is Chapter 339 of the Missouri State Statutes also known? - The license law 
If the buyer and seller are represented by different brokers, it is the responsibility of ________ to deliver, 
or cause to have delivered, the closing statements. - listing broker 
Broker Kelley took a listing from seller Smith. Which of the following stateme...
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Missouri Real Estate Exam
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Missouri Real Estate Exam 
Chapter 339 of the MO Statutes Covers: - ️ License Law - Code of Ethics - MLS Rules - For commercial agents only 
Susie's Employment Situation 
Susie is employed by broker Joe to show rental properties he manages, collects security deposits made 
out 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 estat...
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Missouri Real Estate State Portion | 90 Questions with 100% Correct Answers | Verified | Latest Update 2024
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If a licensee violates a provision of the Missouri License Law, the licensee: - Shall be guilty of a class B 
misdemeanor and may be liable for criminal prosecution 
A broker takes a listing, which one is illegal in Missouri? - Seller collects 94% of list price and broker is 
to get all above that 
If a licensee breaches his fiduciary responsibilities to the principal, which of the following actions could 
not be taken against the licensee? - The state may rescind all contracts negotiated by the...
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Real Estate- Missouri Law Verified A+
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Real Estate- Missouri Law Verified A+ - An unlicensed secretary is the only one in a residential real estate office when Broker Carr from 
another company calls requesting information on a property. The secretary may: ️ Take his name and 
have a licensee return the call - Chapter 339 of the Missouri Statutes is also known as: ️ License law - A salesperson licensed in another state but NOT in Missouri comes into Missouri and refers her brother 
to a real estate company in Missouri to assis...
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Missouri Real Estate Review Guaranteed Success
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Missouri Real Estate Review Guaranteed Success 
Who has to have a real estate license? ️ Any person, co-partnership, or corporation who attempts or 
offers to sell, buy, rent, list, negotiate, exchange, option, advertise as a broker, refer, or charge a fee for 
advertising real estate. 
What title could a real estate salesperson hold? ️ Employee or Independent Contractor. 
Freehold Estate: ️ An estate for at least a lifetime or greater because it can be willed to heirs. 
Leasehold Es...
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Missouri Real Estate - State Portion Only
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Missouri Real Estate - State Portion Only 
Broker License in Case of Death or Incapacity 
In the event that a licensed broker passes away or becomes incapacitated, the commission: - ️ May issue a temporary broker license to an individual approved by the commission. 
Maximum Commission Fines 
The highest penalty the commission can impose for violations is: - ️ $25,000. 
Complaints Not Heard by the Commission 
The commission will not address complaints regarding: - ️ Commission dispute...
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| LATEST EXAM UPDATES| 2024/25 |MISSOURI REAL ESTATE - STATE PORTION ONLY/ EXAM REVIEW QUESTIONS AND ANSWERS, GRADED A+
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MISSOURI REAL ESTATE - STATE PORTION ONLY/ EXAM 
REVIEW QUESTIONS AND ANSWERS, GRADED A+ 
In the event of the death or incapacity of a licensed broker: - -May issue a temporary broker license 
to individual approved by the commission 
What is the maximum fine for violations the commission my charge? - -$25,000 
The commission will not here what kind of complaints? - -Commission disputes between licensees 
A real estate cannot work without what? - -A workers permit issued by the Real Estate Com...
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