Missouri real estate Study guides, Class notes & Summaries

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...

A seller owned two plots of land that combined for a width of 950ft and a depth of 1800ft. A creek divided the north plot from the south plot. What is the total acreage of the two plots? - (B) 39.25 acres A secretary in a real estate office has passed the salesperson's exam but has not yet received a license. This person could: - C. give another salesperson in the office the address of the listed property the other salesperson wants to show An owner builds a recreation room onto her house...

Missouri Real Estate Exam. Ownership

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...

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...

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...

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...

A seller owned two plots of land that combined for a width of 950ft and a depth of 1800ft. A creek divided the north plot from the south plot. What is the total acreage of the two plots? - (B) 39.25 acres A secretary in a real estate office has passed the salesperson's exam but has not yet received a license. This person could: - C. give another salesperson in the office the address of the listed property the other salesperson wants to show An owner builds a recreation room onto her house...

Missouri Real Estate Broker Exam (2023) | Questions & Answers (100% Verified) Missouri Real Estate Broker Exam (2023) | Questions & Answers (100% Verified) Heterogeneity or Nonhomogeneity - ANSWER - Every parcel of land is different Immobility - ANSWER - Location of a parcel of land can never be changed Durable - ANSWER - Refers to land that is indestructible, meaning improvements can depreciate or be destroyed, but the land still remains Scarcity - ANSWER - When supply is limited, ...