| LATEST EXAM UPDATES| 2024/25 |MISSOURI REAL ESTATE EXAM REVIEW QUESTIONS AND ANSWERS, GRADED A+/ VERIFIED/

MISSOURI REAL ESTATE EXAM REVIEW QUESTIONS AND ANSWERS, GRADED A+/ VERIFIED/ Chapter 339 of the MO Statutes is: Code of Ethics License Law MLS Rules For commercial agents only - -b Susie is employed by broker Joe to show rental properties that he manages. She shows rental units, collects security deposit checks made payable to the owner, and delivers leases. Based on these actions, Susie: Must be a real estate licensee Is violating MREC rules Is creating a criminal offense Is not required to be a MO Real estate licensee - -d The purpose of MO LIcense Law Fine licensees for complaints filed Protect licensees from being sued Protect the public Collect due - -c Broker Joe believes he is due commission from Broker Susie because of a buyer she procured for a listing that closed. Joe files a complaint with the MREC. The MREC will- - -Dismiss the case. They won't get involved. Real estate, as defined by Chapter 339 of Missouri Statutes includes: Freehold but not leasehold estates located in MO Leasehold but not freehold Leasehold and Freehold only located in MO Leaseholds and any other interest in estate of land freehold or nonfreehold located in MO - -d An auctioneer employed by a homeowner would be defined as: Someone who is not required to hold a MO real estate license Someone required to have a valid license Someone required to take 2 hours of CE Someone who can sell real estate for a broker - -a A seller disputes the return of a buyers earnest money held in a brokers escrow account. After the buyer backed out the of sale, 65 days ago. There will be no civil action in this instance. How should the broker proceed in this situation? -The broker can choose to immediately pay the party opposite the party who failed to perform -the broker can keep the money in the account for an indefinite amount of time -the broker can, based on a good faith decision, pay the escrow money to the party opposite the party who failed to perform, after all parties have been noticed for 15 days by certified mail -the broker must insist the seller sue the buyer for nonperformance - -