Real Estate Exam- Missouri Portion only | Questions with 100% Correct Answers | Verified | Latest Update 2024 | 22 Pages

7 Members. Have to have been a us citizen for 1 year at 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. - The MREC is made up of All members to vote. Members may hold an inactive license during employment. Cannot be actively involved in the real estate business. $75 a day when meeting. Plus expenses. - The MREC allows Protect the public. Established by state legislature. - Purpose of MREC True. Any person, corporation, partnership or association licensed by the MREC could be accused of a license law violation. Which is a class B misdemeanor. Anyone not licensed is not subject to MREC rules besides practicing without a license. - Someone that is not licensed by MREC is not subject to rules or regulations other than person practicing without a license. "Court of competent jurisdiction" to make party stop. True or False 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 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. - What makes up the MAHC? • stops practicing real estate without a license. • holds hearing when requested by the MREC. • determine guilt or innocence. Case dismissed if innocent.