MO Real Estate Exam Practice Questions
and Answers (Top Grade Assured) 2026
Update
Mo Statute 339 - Correct Answers ✅License Law RSMO
1986
License Law - Correct Answers ✅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 Answers ✅Includes $
compensation, exchange of free services, or any other
valuable good or service that a person expects to be paid
(Vital in license law requirement)
MO Real Estate Commission (MREC) - Correct Answers ✅-
authority is:
1. Regulatory
2. Judicial
3. Administrative
State level gov't entity that regulates and administers license
law by passing rules and making known in license law
- violate MO license law and guilty= Class B Misdemeanor
,MO Real Estate Exam Practice Questions
and Answers (Top Grade Assured) 2026
Update
MREC - State regulator of RE licenses, established by
legislature, 7 members 5 years, protect the public: suspend,
revoke, or probation
- can never fine a licensee and will not involve in a
commission $ dispute
-subpoenas
-civil penalty $2,500 fine/occurrence
- can investigate without complaint
- can file complaint in ANY COURT OF COMPETENT
JURISDICTION
MREC CAUSES COMPLAINT FILED WITH ADMIN HEARING
COMMISSION;
The Missouri Real Estate Commission was created by an act
of the 61st General Assembly and approved by the governor
on July 31, 1941.
The Commission consists of seven voting members. Six of
those members must have at least 10 years experience as
real estate brokers. A public member serves as the seventh
member. Each commissioner is appointed for a five-year
term.
,MO Real Estate Exam Practice Questions
and Answers (Top Grade Assured) 2026
Update
Under the provisions of the real estate act, no real estate
broker or salesperson may act as such without first procuring
a license from the Commission. Other responsibilities include
investigating complaints generated by consumers against the
acts of a real estate licensee and auditing real estate escrow
accounts to verify proper handling of buyers' earnest money.
The Commission also approves all real estate prelicensing
and continuing education courses.
The Commission meets regularly to review complaints,
investigations and audits and to take up other matters. The
Missouri Real Estate Commission performs duties necessary
to carry out the provisions of the real estate license law.
MO Admin Hearing Commission (MAHC) - Correct Answers
✅Determines guilt/innocence; if guilty, sent to MREC for
punishment or dismissal.
- 3 attorneys, work for attorney general
- public crimes (other than license laws) sent to attorney
general for disposition
Brokers License Types - Correct Answers ✅- Individual:
active or inactive
- corporation
- LLC
- Partnership
, MO Real Estate Exam Practice Questions
and Answers (Top Grade Assured) 2026
Update
- Non resident
VOIDED: expiration, suspension, revocation
Salesperson's License Types - Correct Answers ✅Individual:
active or inactive
Broker Salesperson: Active or Inactive
Branch Offices - Correct Answers ✅- Broker salesperson
office (NOT salesperson) can manage branch office
- branch office under a principal broker would operate under
principal broker's license
Licensing - Renewals/ Termination Etc - Correct Answers
✅Brokers license renews by 6/30 of even years ($50)
Salesp must renew by 9/30 of even years ($40)
-2 yrs salesperson before broker
- broker must notify MREC within 72 hours of termination
- Salesperson has 6 months to find new broker or place on
inactive
- Listings belong to broker (transfer req written consent)
- "Dual Contracts" to deceive lender = federal offense
and Answers (Top Grade Assured) 2026
Update
Mo Statute 339 - Correct Answers ✅License Law RSMO
1986
License Law - Correct Answers ✅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 Answers ✅Includes $
compensation, exchange of free services, or any other
valuable good or service that a person expects to be paid
(Vital in license law requirement)
MO Real Estate Commission (MREC) - Correct Answers ✅-
authority is:
1. Regulatory
2. Judicial
3. Administrative
State level gov't entity that regulates and administers license
law by passing rules and making known in license law
- violate MO license law and guilty= Class B Misdemeanor
,MO Real Estate Exam Practice Questions
and Answers (Top Grade Assured) 2026
Update
MREC - State regulator of RE licenses, established by
legislature, 7 members 5 years, protect the public: suspend,
revoke, or probation
- can never fine a licensee and will not involve in a
commission $ dispute
-subpoenas
-civil penalty $2,500 fine/occurrence
- can investigate without complaint
- can file complaint in ANY COURT OF COMPETENT
JURISDICTION
MREC CAUSES COMPLAINT FILED WITH ADMIN HEARING
COMMISSION;
The Missouri Real Estate Commission was created by an act
of the 61st General Assembly and approved by the governor
on July 31, 1941.
The Commission consists of seven voting members. Six of
those members must have at least 10 years experience as
real estate brokers. A public member serves as the seventh
member. Each commissioner is appointed for a five-year
term.
,MO Real Estate Exam Practice Questions
and Answers (Top Grade Assured) 2026
Update
Under the provisions of the real estate act, no real estate
broker or salesperson may act as such without first procuring
a license from the Commission. Other responsibilities include
investigating complaints generated by consumers against the
acts of a real estate licensee and auditing real estate escrow
accounts to verify proper handling of buyers' earnest money.
The Commission also approves all real estate prelicensing
and continuing education courses.
The Commission meets regularly to review complaints,
investigations and audits and to take up other matters. The
Missouri Real Estate Commission performs duties necessary
to carry out the provisions of the real estate license law.
MO Admin Hearing Commission (MAHC) - Correct Answers
✅Determines guilt/innocence; if guilty, sent to MREC for
punishment or dismissal.
- 3 attorneys, work for attorney general
- public crimes (other than license laws) sent to attorney
general for disposition
Brokers License Types - Correct Answers ✅- Individual:
active or inactive
- corporation
- LLC
- Partnership
, MO Real Estate Exam Practice Questions
and Answers (Top Grade Assured) 2026
Update
- Non resident
VOIDED: expiration, suspension, revocation
Salesperson's License Types - Correct Answers ✅Individual:
active or inactive
Broker Salesperson: Active or Inactive
Branch Offices - Correct Answers ✅- Broker salesperson
office (NOT salesperson) can manage branch office
- branch office under a principal broker would operate under
principal broker's license
Licensing - Renewals/ Termination Etc - Correct Answers
✅Brokers license renews by 6/30 of even years ($50)
Salesp must renew by 9/30 of even years ($40)
-2 yrs salesperson before broker
- broker must notify MREC within 72 hours of termination
- Salesperson has 6 months to find new broker or place on
inactive
- Listings belong to broker (transfer req written consent)
- "Dual Contracts" to deceive lender = federal offense
