Missouri Exam Prep-Licenses Questions
and Answers 100% SOLVED
Mary Beth, a motel clerk at the Seaside Inn, refers potential buyers to her friend Jane.
Mary Beth can:
A. Receive a thank you from Jane
B. Receive a referral fee from Jane
C. Receive a commission from Jane - ANSWER-A. Receive a thank you from Jane
A corporation recently opened a real estate office in the state of Missouri. Which of the
following is true regarding the licensing of the corporation?
A. If the corporation is already licensed in another state, the MREC will require a license
certification from that state.
B. The corporation must pay $550 application fee if it does not maintain a Missouri
license
C. If the corporation is licensed in good standing with an adjoining Missouri state, a
Missouri license is not required. - ANSWER-A. If the corporation is already licensed in
another state, the MREC will require a license certification from that state.
Matt Bates is a salesperson. His CPA has advised Matt to form an LLC for tax
purposes. Which of the following statements is true regarding this situation?
A. Matt may form an LLC with his broker's written permission
B. Matt must file a fictitious name with the state
C. Matt may become a Professional Corporation (PC) - ANSWER-C. Matt may become
a Professional Corporation (PC)
What must be included with the license transfer application?
A. signature of the new broker, signature of the current broker, a $50 transfer fee, and a
$50 termination fee
B. Signatures of both the new broker and current broker, a $50 fee and the licensees
original wall license
C. Notarized signatures of both the new broker and the current broker, a $50 fee and
the wall license all sent certified, overnight or registered mall - ANSWER-B. Signatures
, of both the new broker and current broker, a $50 fee and the licensees original wall
license
Johnnie, who is 18 year's old and not a Missouri resident, successfully completed his
licensing course on July 1st, 2018 and he passed the test December 14th, 2018 and
submitted his license application with the proper fees on February 3rd, 2019. Will
Johnnies license application be accepted?
A. No, Johnnie did not submit his license application in a timely manner
B. No, Johnnie is not at least 21 years old
C. Yes, Johnnie passed his test within 6 months of completing the license course -
ANSWER-A. No, Johnnie did not submit his license application in a timely manner
For a licensee to be deemed transferred, which is a satisfactory method of delivering
the transfer application to the MREC?
A. email
B. regular postal mail
C. overnight delivery - ANSWER-C. overnight delivery
Bar, an independent contractor, is selling right of way easements for several utility
companies. Must Barb be licensed?
A. No, because easements are not considered to be real estate.
B. Yes, because she is an independent contractor and not an employee of the utility
C. Yes, as long as she is paid as if she is an employee of the utility companies -
ANSWER-B. Yes, because she is an independent contractor and not an employee of
the utility
A licensee may be granted to which of the following?
A. An applicant 17 years or older
B. an applicant who filed for bankruptcy in the last 5 years
C. an applicant who is deemed incompetents' to transact business - ANSWER-B. an
applicant who filed for bankruptcy in the last 5 years
and Answers 100% SOLVED
Mary Beth, a motel clerk at the Seaside Inn, refers potential buyers to her friend Jane.
Mary Beth can:
A. Receive a thank you from Jane
B. Receive a referral fee from Jane
C. Receive a commission from Jane - ANSWER-A. Receive a thank you from Jane
A corporation recently opened a real estate office in the state of Missouri. Which of the
following is true regarding the licensing of the corporation?
A. If the corporation is already licensed in another state, the MREC will require a license
certification from that state.
B. The corporation must pay $550 application fee if it does not maintain a Missouri
license
C. If the corporation is licensed in good standing with an adjoining Missouri state, a
Missouri license is not required. - ANSWER-A. If the corporation is already licensed in
another state, the MREC will require a license certification from that state.
Matt Bates is a salesperson. His CPA has advised Matt to form an LLC for tax
purposes. Which of the following statements is true regarding this situation?
A. Matt may form an LLC with his broker's written permission
B. Matt must file a fictitious name with the state
C. Matt may become a Professional Corporation (PC) - ANSWER-C. Matt may become
a Professional Corporation (PC)
What must be included with the license transfer application?
A. signature of the new broker, signature of the current broker, a $50 transfer fee, and a
$50 termination fee
B. Signatures of both the new broker and current broker, a $50 fee and the licensees
original wall license
C. Notarized signatures of both the new broker and the current broker, a $50 fee and
the wall license all sent certified, overnight or registered mall - ANSWER-B. Signatures
, of both the new broker and current broker, a $50 fee and the licensees original wall
license
Johnnie, who is 18 year's old and not a Missouri resident, successfully completed his
licensing course on July 1st, 2018 and he passed the test December 14th, 2018 and
submitted his license application with the proper fees on February 3rd, 2019. Will
Johnnies license application be accepted?
A. No, Johnnie did not submit his license application in a timely manner
B. No, Johnnie is not at least 21 years old
C. Yes, Johnnie passed his test within 6 months of completing the license course -
ANSWER-A. No, Johnnie did not submit his license application in a timely manner
For a licensee to be deemed transferred, which is a satisfactory method of delivering
the transfer application to the MREC?
A. email
B. regular postal mail
C. overnight delivery - ANSWER-C. overnight delivery
Bar, an independent contractor, is selling right of way easements for several utility
companies. Must Barb be licensed?
A. No, because easements are not considered to be real estate.
B. Yes, because she is an independent contractor and not an employee of the utility
C. Yes, as long as she is paid as if she is an employee of the utility companies -
ANSWER-B. Yes, because she is an independent contractor and not an employee of
the utility
A licensee may be granted to which of the following?
A. An applicant 17 years or older
B. an applicant who filed for bankruptcy in the last 5 years
C. an applicant who is deemed incompetents' to transact business - ANSWER-B. an
applicant who filed for bankruptcy in the last 5 years
