Missouri Real Estate Salesperson Exam
Practice Questions And Correct Answers
(Verified Answers) Plus Rationales 2026
Q&A | Instant Download Pdf
1. Which type of ownership allows two or more people to own unequal
interests in a property?
A. Joint tenancy
B. Tenancy by entirety
C. Tenancy in common
D. Cooperative ownership
Rationale: Tenancy in common allows owners to hold different ownership
percentages and interests may be transferred independently.
2. Which characteristic of value refers to demand for a property?
A. Transferability
B. Scarcity
,C. Utility
D. Demand
Rationale: Demand is the economic principle referring to consumers' desire
and ability to purchase property.
3. Which legal description method uses recorded subdivision plats?
A. Metes and bounds
B. Government survey
C. Lot and block system
D. Rectangular survey
Rationale: Lot and block descriptions rely on subdivision maps recorded in
public records.
4. What type of listing gives only one broker the right to market a
property but allows the owner to sell without paying commission?
A. Exclusive right-to-sell listing
B. Net listing
C. Open listing
D. Exclusive agency listing
Rationale: An exclusive agency listing permits owner sales without broker
commission obligations.
, 5. Which form of ownership is available only to married couples?
A. Joint tenancy
B. Tenancy in common
C. Community property
D. Tenancy by entirety
Rationale: Tenancy by entirety is reserved for legally married spouses in
states recognizing it.
6. Which government power allows zoning regulations?
A. Eminent domain
B. Escheat
C. Taxation
D. Police power
Rationale: Police power allows governments to regulate land use for
health, safety, and welfare.
7. Which clause protects lenders if property is sold?
A. Defeasance clause
B. Escalation clause
C. Habendum clause
D. Due-on-sale clause
, Rationale: Due-on-sale clauses permit lenders to demand full repayment
when ownership transfers.
8. What does “fee simple absolute” represent?
A. Temporary ownership
B. Leasehold ownership
C. Shared ownership
D. Complete ownership interest
Rationale: Fee simple absolute provides maximum ownership rights
allowed by law.
9. Which loan typically has changing interest rates?
A. Fixed-rate mortgage
B. FHA loan
C. Conventional loan
D. Adjustable-rate mortgage (ARM)
Rationale: ARM loans periodically adjust interest rates according to
market indexes.
10. Which federal law prohibits discrimination in housing based on
race?
Practice Questions And Correct Answers
(Verified Answers) Plus Rationales 2026
Q&A | Instant Download Pdf
1. Which type of ownership allows two or more people to own unequal
interests in a property?
A. Joint tenancy
B. Tenancy by entirety
C. Tenancy in common
D. Cooperative ownership
Rationale: Tenancy in common allows owners to hold different ownership
percentages and interests may be transferred independently.
2. Which characteristic of value refers to demand for a property?
A. Transferability
B. Scarcity
,C. Utility
D. Demand
Rationale: Demand is the economic principle referring to consumers' desire
and ability to purchase property.
3. Which legal description method uses recorded subdivision plats?
A. Metes and bounds
B. Government survey
C. Lot and block system
D. Rectangular survey
Rationale: Lot and block descriptions rely on subdivision maps recorded in
public records.
4. What type of listing gives only one broker the right to market a
property but allows the owner to sell without paying commission?
A. Exclusive right-to-sell listing
B. Net listing
C. Open listing
D. Exclusive agency listing
Rationale: An exclusive agency listing permits owner sales without broker
commission obligations.
, 5. Which form of ownership is available only to married couples?
A. Joint tenancy
B. Tenancy in common
C. Community property
D. Tenancy by entirety
Rationale: Tenancy by entirety is reserved for legally married spouses in
states recognizing it.
6. Which government power allows zoning regulations?
A. Eminent domain
B. Escheat
C. Taxation
D. Police power
Rationale: Police power allows governments to regulate land use for
health, safety, and welfare.
7. Which clause protects lenders if property is sold?
A. Defeasance clause
B. Escalation clause
C. Habendum clause
D. Due-on-sale clause
, Rationale: Due-on-sale clauses permit lenders to demand full repayment
when ownership transfers.
8. What does “fee simple absolute” represent?
A. Temporary ownership
B. Leasehold ownership
C. Shared ownership
D. Complete ownership interest
Rationale: Fee simple absolute provides maximum ownership rights
allowed by law.
9. Which loan typically has changing interest rates?
A. Fixed-rate mortgage
B. FHA loan
C. Conventional loan
D. Adjustable-rate mortgage (ARM)
Rationale: ARM loans periodically adjust interest rates according to
market indexes.
10. Which federal law prohibits discrimination in housing based on
race?
