State Practice Exam- 1 (Bob Brooks) With complete solutions

State Practice Exam- 1 (Bob Brooks) With complete solutions Using an operating account to pay both bills and commissions due to agents is called "commingling". True False - answerFalse A licensee is permitted to accept a commission or valuable consideration from: a. An agent with another firm b. Their sponsoring broker c. Both of the above d. Neither of the above - answerb. Their sponsoring broker Broker Mary Jones deposits $500.00 of a client's deposit money into her personal account and the balance into her trust account. This is called: a. Commingling b. Reciprocity c. Escheat d. Co-depositing - answera. Commingling A licensee may pay a fee, commission, or other compensation to another licensee directly. True False - answerFalse Application for a license as a real estate broker issued for partnership, association, or corporation and one year's use of a license for a branch office is _________. a. $50.00 b. $80.00 c. $70.00 d. $75.00 - answera. $50.00 The non-resident broker CANNOT place any sign on real property located in the state of Mississippi unless which of the following happens? a. Both A and B b. Neither A nor B c. The non-resident broker has obtained written consent of the cooperating Mississippi broker. d. The sign of the Mississippi broker is placed in a prominent place, in close proximity to the non-resident broker's sign. - answera. Both A and B Enacting real estate laws in Mississippi is the job of the: a. Mississippi Real Estate License Bureau b. Mississippi Real Estate Commission c. Mississippi state legislature d. Mississippi Association of REALTORS® - answerc. Mississippi state legislature A licensee changing from active to inactive status M