Missouri Real Estate Exam - State Portion Only - Practice Questions & Verified Answers
7 Members. Have to have been a us citizen for 1 year at The MREC is made up of
least. Appointed by the governor with consent of the
Missouri senate. 6 members must have been licensed
brokers for 10 years. 1 member from general public.
All members to vote. Members may hold an inactive The MREC allows
license during employment. Cannot be actively involved in
the real estate business. $75 a day when meeting. Plus
expenses.
Protect the public. Established by state legislature. Purpose of MREC
True. Any person, corporation, partnership or association Someone that is not licensed by MREC is not subject to rules or regulations other
licensed by the MREC could be accused of a license law than person practicing without a license. "Court of competent jurisdiction" to make
violation. Which is a class B misdemeanor. Anyone not party stop. True or False
licensed is not subject to MREC rules besides practicing
without a license.
THE MREC. Who makes the final decision to suspend, revoke or place a license on probation?
•3 attorney generals employed by the state. Work directly What makes up the MAHC?
for the attorney general. Admitted to practice before the
Missouri Supreme Court.
•must send case to the MAHC to determine whether or not
they are charging the licensee.
• if the MAHC feels the MREC is not correct the case is
dismissed.
• if they feel that they are correct, the case is sent back to
the MREC so the license can be revoked, suspended, or
put on probation.
• stops practicing real estate without a license. What does MAHC do?
• holds hearing when requested by the MREC.
• determine guilt or innocence. Case dismissed if innocent.
• a person who is refused a license by the MREC has a
right to appeal that decision to the MAHC.
They cannot: What can MAHC NOT do?
• can NEVER fine a licensee
• will NEVER be involved in disputes between licensees or
companies.
• deal with someone who commits a crime outside of
license law. They will turn it over to the attorney generals
office.
Performs real estate activities for another and collects What does a broker do?
commission.
Supervises licenses under them.
Maintains escrow accounts.
Manages company and responsible for all licensed to
him/her.
Pays ALL fees and commissions to individuals licensed
under her and cooperating brokers.
All arrangements belong to the broker and stay with the
broker upon transfer of the license.
10 days If broker changes the company office the MREC needs notice within
2026-2027 | Stuvia Edition
, Missouri Real Estate Exam - State Portion Only - Practice Questions & Verified Answers
June 30th every 2 years License renewal for brokers are
September 30th every 2 years. License renewal for salespersons
Broker cannot tell them HOW to do something. They can Independent contractors
tell them what to do. They also get tax form 1099.
Only one How many brokers are allowed per company?
Sends brokers license to the MREC for safe keeping and How does a broker become a broker-salesperson
operates as a broker-salesperson. Can act as a branch
sales manager and can continue to sell property. They DO
NOT hold licenses. All licenses are held by the principal
broker.
The broker All licenses are held by
The MREC requires name, residence, and business For broker officers of a Corp to happen
address of each partner in partnership licensed or
unlicensed.
The corporation must be in good standing with the
Secretary of State. Must be notified of any changes and
must be registered with the sec of state.
***A salesperson can be an officer of a corporation but
CANNOT be involved in management.
A designated broker.- any individual licensed as a broker A professional corporation must have
who is operating pursuant to the definition of real estate
broker. The MREC only communicates with the designated
broker!
Must be licensed to a broker who is responsible for all real A salesperson:
estate related activities.
• can not manage other licensee without a type of broker
license.
• must pass the 48 hour course, the AMP exam, and the 24
hour Missouri Real Estate practices course before applying
for a license. Must be a high school graduate or equivalent
and be at least 18 years of age.
• must have submitted finger prints to the mo highway
patrol and background check.
• must receive all earned fees from broker and cannot be
paid to others for referrals or any other reason. Another
broker cannot pay a salesperson not licensed with him or
her.
If you're licensed and transfer to another broker, with a Another broker cannot pay a salesperson not licensed with him or her EXCEPT
transaction waiting to close, to your written agreement with when
your original broker will determine if you are entitled to
commission when the transaction closes. If so, the
PREVIOUS broker will pay you directly.
2026-2027 | Stuvia Edition
7 Members. Have to have been a us citizen for 1 year at The MREC is made up of
least. Appointed by the governor with consent of the
Missouri senate. 6 members must have been licensed
brokers for 10 years. 1 member from general public.
All members to vote. Members may hold an inactive The MREC allows
license during employment. Cannot be actively involved in
the real estate business. $75 a day when meeting. Plus
expenses.
Protect the public. Established by state legislature. Purpose of MREC
True. Any person, corporation, partnership or association Someone that is not licensed by MREC is not subject to rules or regulations other
licensed by the MREC could be accused of a license law than person practicing without a license. "Court of competent jurisdiction" to make
violation. Which is a class B misdemeanor. Anyone not party stop. True or False
licensed is not subject to MREC rules besides practicing
without a license.
THE MREC. Who makes the final decision to suspend, revoke or place a license on probation?
•3 attorney generals employed by the state. Work directly What makes up the MAHC?
for the attorney general. Admitted to practice before the
Missouri Supreme Court.
•must send case to the MAHC to determine whether or not
they are charging the licensee.
• if the MAHC feels the MREC is not correct the case is
dismissed.
• if they feel that they are correct, the case is sent back to
the MREC so the license can be revoked, suspended, or
put on probation.
• stops practicing real estate without a license. What does MAHC do?
• holds hearing when requested by the MREC.
• determine guilt or innocence. Case dismissed if innocent.
• a person who is refused a license by the MREC has a
right to appeal that decision to the MAHC.
They cannot: What can MAHC NOT do?
• can NEVER fine a licensee
• will NEVER be involved in disputes between licensees or
companies.
• deal with someone who commits a crime outside of
license law. They will turn it over to the attorney generals
office.
Performs real estate activities for another and collects What does a broker do?
commission.
Supervises licenses under them.
Maintains escrow accounts.
Manages company and responsible for all licensed to
him/her.
Pays ALL fees and commissions to individuals licensed
under her and cooperating brokers.
All arrangements belong to the broker and stay with the
broker upon transfer of the license.
10 days If broker changes the company office the MREC needs notice within
2026-2027 | Stuvia Edition
, Missouri Real Estate Exam - State Portion Only - Practice Questions & Verified Answers
June 30th every 2 years License renewal for brokers are
September 30th every 2 years. License renewal for salespersons
Broker cannot tell them HOW to do something. They can Independent contractors
tell them what to do. They also get tax form 1099.
Only one How many brokers are allowed per company?
Sends brokers license to the MREC for safe keeping and How does a broker become a broker-salesperson
operates as a broker-salesperson. Can act as a branch
sales manager and can continue to sell property. They DO
NOT hold licenses. All licenses are held by the principal
broker.
The broker All licenses are held by
The MREC requires name, residence, and business For broker officers of a Corp to happen
address of each partner in partnership licensed or
unlicensed.
The corporation must be in good standing with the
Secretary of State. Must be notified of any changes and
must be registered with the sec of state.
***A salesperson can be an officer of a corporation but
CANNOT be involved in management.
A designated broker.- any individual licensed as a broker A professional corporation must have
who is operating pursuant to the definition of real estate
broker. The MREC only communicates with the designated
broker!
Must be licensed to a broker who is responsible for all real A salesperson:
estate related activities.
• can not manage other licensee without a type of broker
license.
• must pass the 48 hour course, the AMP exam, and the 24
hour Missouri Real Estate practices course before applying
for a license. Must be a high school graduate or equivalent
and be at least 18 years of age.
• must have submitted finger prints to the mo highway
patrol and background check.
• must receive all earned fees from broker and cannot be
paid to others for referrals or any other reason. Another
broker cannot pay a salesperson not licensed with him or
her.
If you're licensed and transfer to another broker, with a Another broker cannot pay a salesperson not licensed with him or her EXCEPT
transaction waiting to close, to your written agreement with when
your original broker will determine if you are entitled to
commission when the transaction closes. If so, the
PREVIOUS broker will pay you directly.
2026-2027 | Stuvia Edition
