State Practice Exam- 1 (Bob Brooks) Questions and Answers 100% Correct

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 - ANSWER-b. 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 - ANSWER-a. Commingling A licensee may pay a fee, commission, or other compensation to another licensee directly. True False - ANSWER-False 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 - ANSWER-a. $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.