Missouri State Practice Exam - Real Estate
UPDATED ACTUAL Questions and
CORRECT Answers
Janelle just completed her Missouri salesperson pre-examination course. Which statement most
accurately describes the actions she must accomplish related to the licensing exam? - CORRECT
ANSWER - She has six months to pass both portions of the licensing exam.
After submitting a salesperson application and applicable fee to the Missouri Real Estate
Commission, Jethro decided he no longer wishes to pursue a career in real estate. What's the
process for having his application fee refunded? - CORRECT ANSWER - License fees
paid to the MREC are nonrefundable.
Missouri licensees who fail to respond to the commisison's written request or inquiry within
____ days may face disciplinary action. - CORRECT ANSWER - 30
In Missouri, providing the Broker Disclosure form to a seller ______. - CORRECT
ANSWER - Is required by law
Closing statements are usually prepared by the _________. - CORRECT ANSWER -
Closing agent
Liza is a principal broker in Missouri. One of her branch offices is supervised by broker-
salesperson Lindsay. Who is ultimately responsible for the activities of the licensees at that
branch office? - CORRECT ANSWER - Liza is ultimately responsible as the principal
broker.
Andy is representing his fiancée in a Missouri real estate transaction. Does he have any special
disclosure requirements? - CORRECT ANSWER - Yes, because he has a personal interest
in the property.
, In your exclusive agency agreement with seller Janet, she prohibited you from acting as a dual
agent or as the buyer's transaction broker. An interested buyer, Frank, drops by your office,
asking questions about the property. He's not working with another licensee, so you provide him
with the Missouri Broker Disclosure Form. What should you do next? - CORRECT
ANSWER - Tell him that you're representing the seller, and because of that, he shouldn't
divulge any confidential information to you.
Which of the following tasks must Missouri licensees perform for seller clients? - CORRECT
ANSWER - Ensure the collection of the earnest money deposit from the buyer.
Missouri designated broker Stacy forms a listing agreement with owners Gail and Henry Macke.
Which of the following parties must sign this agreement? - CORRECT ANSWER - Stacy,
Gail, and Henry
Frank is a Missouri real estate broker-salesperson. He misrepresented a material fact about a
property, a fact discovered by his broker through regular reviews of transaction documentation.
Upon learning of Frank's violation, his broker attempted to mitigate the damage and re-trained
Frank on the brokerage's written policy manual to avoid this violation in the future. Has Frank's
broker provided adequate supervision? - CORRECT ANSWER - Yes, Frank's broker has a
written policy; attempted to mitigate the damage; and didn't participate in, ratify, or avoid
learning of the violation.
When a sales contract doesn't cover the terms needed by the parties, which of the following
actions is a licensee allowed to take? - CORRECT ANSWER - Add a standard addendum
using standard language.
In Missouri, which one of these scenarios would require a real estate license? - CORRECT
ANSWER - Janice is searching for a new home for a friend moving into town. After the
friend buys a property, Janice will receive 2% of the sales price for her time.
Which of the following is a true statement about real estate licensees in Missouri? - CORRECT
ANSWER - A broker may work independently.
UPDATED ACTUAL Questions and
CORRECT Answers
Janelle just completed her Missouri salesperson pre-examination course. Which statement most
accurately describes the actions she must accomplish related to the licensing exam? - CORRECT
ANSWER - She has six months to pass both portions of the licensing exam.
After submitting a salesperson application and applicable fee to the Missouri Real Estate
Commission, Jethro decided he no longer wishes to pursue a career in real estate. What's the
process for having his application fee refunded? - CORRECT ANSWER - License fees
paid to the MREC are nonrefundable.
Missouri licensees who fail to respond to the commisison's written request or inquiry within
____ days may face disciplinary action. - CORRECT ANSWER - 30
In Missouri, providing the Broker Disclosure form to a seller ______. - CORRECT
ANSWER - Is required by law
Closing statements are usually prepared by the _________. - CORRECT ANSWER -
Closing agent
Liza is a principal broker in Missouri. One of her branch offices is supervised by broker-
salesperson Lindsay. Who is ultimately responsible for the activities of the licensees at that
branch office? - CORRECT ANSWER - Liza is ultimately responsible as the principal
broker.
Andy is representing his fiancée in a Missouri real estate transaction. Does he have any special
disclosure requirements? - CORRECT ANSWER - Yes, because he has a personal interest
in the property.
, In your exclusive agency agreement with seller Janet, she prohibited you from acting as a dual
agent or as the buyer's transaction broker. An interested buyer, Frank, drops by your office,
asking questions about the property. He's not working with another licensee, so you provide him
with the Missouri Broker Disclosure Form. What should you do next? - CORRECT
ANSWER - Tell him that you're representing the seller, and because of that, he shouldn't
divulge any confidential information to you.
Which of the following tasks must Missouri licensees perform for seller clients? - CORRECT
ANSWER - Ensure the collection of the earnest money deposit from the buyer.
Missouri designated broker Stacy forms a listing agreement with owners Gail and Henry Macke.
Which of the following parties must sign this agreement? - CORRECT ANSWER - Stacy,
Gail, and Henry
Frank is a Missouri real estate broker-salesperson. He misrepresented a material fact about a
property, a fact discovered by his broker through regular reviews of transaction documentation.
Upon learning of Frank's violation, his broker attempted to mitigate the damage and re-trained
Frank on the brokerage's written policy manual to avoid this violation in the future. Has Frank's
broker provided adequate supervision? - CORRECT ANSWER - Yes, Frank's broker has a
written policy; attempted to mitigate the damage; and didn't participate in, ratify, or avoid
learning of the violation.
When a sales contract doesn't cover the terms needed by the parties, which of the following
actions is a licensee allowed to take? - CORRECT ANSWER - Add a standard addendum
using standard language.
In Missouri, which one of these scenarios would require a real estate license? - CORRECT
ANSWER - Janice is searching for a new home for a friend moving into town. After the
friend buys a property, Janice will receive 2% of the sales price for her time.
Which of the following is a true statement about real estate licensees in Missouri? - CORRECT
ANSWER - A broker may work independently.
