Missouri Real Estate Salesperson Exam
Practice Test Questions And Correct
Answers (Verified Answers) Plus
Rationales 2026 Q&A Instant Download
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1. Which type of ownership gives a surviving co-owner automatic ownership
rights upon the death of another owner?
A. Tenancy in common
B. Community property
C. Joint tenancy
D. Severalty
Rationale: Joint tenancy includes the right of survivorship, meaning ownership
automatically transfers to surviving joint tenants.
2. A legal description using lot and block numbers is commonly found in which
system?
A. Metes and bounds
B. Rectangular survey
C. Government survey
D. Recorded plat system
Rationale: The recorded plat system identifies property by lot and block numbers
recorded on subdivision maps.
, 3. Which contract element requires something of value to be exchanged?
A. Capacity
B. Mutual consent
C. Consideration
D. Legality
Rationale: Consideration refers to the exchange of value necessary for a contract
to be enforceable.
4. Earnest money is best described as:
A. A commission paid to the broker
B. A deposit showing the buyer’s good faith
C. A loan origination fee
D. A title insurance premium
Rationale: Earnest money demonstrates the buyer’s serious intent to complete
the purchase.
5. A lien placed on property for unpaid property taxes is:
A. Voluntary
B. Equitable
C. General
D. Specific involuntary
Rationale: Property tax liens are involuntary and attach specifically to the
property involved.
6. Which approach to value is most commonly used for single-family
residential property?
A. Cost approach
B. Income approach
C. Sales comparison approach
D. Gross rent multiplier approach
, Rationale: The sales comparison approach relies on comparable sales and is
commonly used for residential properties.
7. Which entity enforces federal fair housing laws?
A. Federal Reserve
B. EPA
C. HUD
D. FHA
Rationale: The Department of Housing and Urban Development enforces federal
fair housing regulations.
8. Blockbusting is illegal because it:
A. Raises property taxes
B. Creates zoning conflicts
C. Encourages panic selling based on protected classes
D. Increases lending discrimination
Rationale: Blockbusting involves inducing sales by suggesting protected groups
are moving into an area.
9. Which loan feature allows smaller payments at the beginning of the loan
term?
A. Fixed-rate feature
B. Balloon payment
C. Amortization
D. Graduated payment plan
Rationale: Graduated payment mortgages begin with smaller payments that
increase over time.
10.Which deed provides the greatest protection to the grantee?
A. Quitclaim deed
B. Bargain and sale deed
Practice Test Questions And Correct
Answers (Verified Answers) Plus
Rationales 2026 Q&A Instant Download
1. Which type of ownership gives a surviving co-owner automatic ownership
rights upon the death of another owner?
A. Tenancy in common
B. Community property
C. Joint tenancy
D. Severalty
Rationale: Joint tenancy includes the right of survivorship, meaning ownership
automatically transfers to surviving joint tenants.
2. A legal description using lot and block numbers is commonly found in which
system?
A. Metes and bounds
B. Rectangular survey
C. Government survey
D. Recorded plat system
Rationale: The recorded plat system identifies property by lot and block numbers
recorded on subdivision maps.
, 3. Which contract element requires something of value to be exchanged?
A. Capacity
B. Mutual consent
C. Consideration
D. Legality
Rationale: Consideration refers to the exchange of value necessary for a contract
to be enforceable.
4. Earnest money is best described as:
A. A commission paid to the broker
B. A deposit showing the buyer’s good faith
C. A loan origination fee
D. A title insurance premium
Rationale: Earnest money demonstrates the buyer’s serious intent to complete
the purchase.
5. A lien placed on property for unpaid property taxes is:
A. Voluntary
B. Equitable
C. General
D. Specific involuntary
Rationale: Property tax liens are involuntary and attach specifically to the
property involved.
6. Which approach to value is most commonly used for single-family
residential property?
A. Cost approach
B. Income approach
C. Sales comparison approach
D. Gross rent multiplier approach
, Rationale: The sales comparison approach relies on comparable sales and is
commonly used for residential properties.
7. Which entity enforces federal fair housing laws?
A. Federal Reserve
B. EPA
C. HUD
D. FHA
Rationale: The Department of Housing and Urban Development enforces federal
fair housing regulations.
8. Blockbusting is illegal because it:
A. Raises property taxes
B. Creates zoning conflicts
C. Encourages panic selling based on protected classes
D. Increases lending discrimination
Rationale: Blockbusting involves inducing sales by suggesting protected groups
are moving into an area.
9. Which loan feature allows smaller payments at the beginning of the loan
term?
A. Fixed-rate feature
B. Balloon payment
C. Amortization
D. Graduated payment plan
Rationale: Graduated payment mortgages begin with smaller payments that
increase over time.
10.Which deed provides the greatest protection to the grantee?
A. Quitclaim deed
B. Bargain and sale deed
