Mississippi Practice & REAL Exam Questions and
answers / Already Graded A+ 2025/2026
Terms in this set (91)
Which of the following shall * The management entity
act in the capacity of The president of the timeshare association
fiduciary to the purchasers of
A timeshare owner appointed by the other owners
the timeshare plans?
The developer
Real estate licensees must * immediately
provide a true and correct with one day with
copy of a document to any three days within
party ________ upon signing five days
the document.
If the responsible broker is * a court the Commission the Board of
uncertain as to the proper Realtors the Real Estate Deposit
disposition of the earnest Committee
money, he/she may turn the
money over to which of the
following for disposition?
Every licensee must notify * ten days
the Commission within five days
_________ of any adverse three days
court decisions in which the twenty days
licensee appeared as a
defendant.
Each property disclosure
* in good faith in bad faith verbal complex,
required to be made by the
in order to protect the buyer
license law is required to be:
,Who appoints the * the Governor
members to the a U.S. Senator from Mississippi a U.S.
Mississippi Real Estate Representative from Mississippi
Commission? registered voters
The exchange program *a certificate of renewal from the Timeshare Association
report should report all of the number of purchasers enrolled in the exchange
the following information, program the percentage of confirmed reservations the
EXCEPT: number of exchanges confirmed by the exchange program
during the year
Any licensee who has * twelve months
entered active military six months thirty
service due to a draft or days sixty days
national emergency will
upon his/her return to
civilian life and within
____________ after a
honorable discharge, be
considered by the
Commission to have been
actively engaged in the real
estate business in the same
capacity as when the
licensee was entered into
active military service.
*a public agency a prior property disclosure form that the
listing agent found in his office an inspection of the
The listing agent will
property by the listing agent a neighbor who told the listing
probably not be held liable
agent what to disclose
for inaccurate property
disclosure information if the
information was obtained
from:
, A developer may not sell, * the Real Estate Commission the
offer, or dispose of a Secretary of State the Timeshare
timeshare interest unless all Association the Office of Timeshare
necessary registration Registrations
requirements are completed
and approved by:
One or more documents, by * timeshare instrument
whatever name timeshare interest
denominated, creating or timeshare inventory
governing the operation of a timeshare association
timeshare plan and includes
the declaration or other legal
instrument dedicating the
accommodations to the
timeshare plan is called a(n)
To obtain a preliminary * file for a trade name through the Secretary of State
permit, the developer submit a formal written request to the Mississippi Real
must do all of the Estate Commission provide evidence acceptable to the
following, EXCEPT: state that all funds received by the developer will be placed
into an independent escrow account give each purchaser
the opportunity to cancel the purchase contract during the
applicable recision period
* 16
For each two-year license
8
renewal period, how many
hours of continuing 4
education must a licensee 10
submit in order to renew
his/her license?
answers / Already Graded A+ 2025/2026
Terms in this set (91)
Which of the following shall * The management entity
act in the capacity of The president of the timeshare association
fiduciary to the purchasers of
A timeshare owner appointed by the other owners
the timeshare plans?
The developer
Real estate licensees must * immediately
provide a true and correct with one day with
copy of a document to any three days within
party ________ upon signing five days
the document.
If the responsible broker is * a court the Commission the Board of
uncertain as to the proper Realtors the Real Estate Deposit
disposition of the earnest Committee
money, he/she may turn the
money over to which of the
following for disposition?
Every licensee must notify * ten days
the Commission within five days
_________ of any adverse three days
court decisions in which the twenty days
licensee appeared as a
defendant.
Each property disclosure
* in good faith in bad faith verbal complex,
required to be made by the
in order to protect the buyer
license law is required to be:
,Who appoints the * the Governor
members to the a U.S. Senator from Mississippi a U.S.
Mississippi Real Estate Representative from Mississippi
Commission? registered voters
The exchange program *a certificate of renewal from the Timeshare Association
report should report all of the number of purchasers enrolled in the exchange
the following information, program the percentage of confirmed reservations the
EXCEPT: number of exchanges confirmed by the exchange program
during the year
Any licensee who has * twelve months
entered active military six months thirty
service due to a draft or days sixty days
national emergency will
upon his/her return to
civilian life and within
____________ after a
honorable discharge, be
considered by the
Commission to have been
actively engaged in the real
estate business in the same
capacity as when the
licensee was entered into
active military service.
*a public agency a prior property disclosure form that the
listing agent found in his office an inspection of the
The listing agent will
property by the listing agent a neighbor who told the listing
probably not be held liable
agent what to disclose
for inaccurate property
disclosure information if the
information was obtained
from:
, A developer may not sell, * the Real Estate Commission the
offer, or dispose of a Secretary of State the Timeshare
timeshare interest unless all Association the Office of Timeshare
necessary registration Registrations
requirements are completed
and approved by:
One or more documents, by * timeshare instrument
whatever name timeshare interest
denominated, creating or timeshare inventory
governing the operation of a timeshare association
timeshare plan and includes
the declaration or other legal
instrument dedicating the
accommodations to the
timeshare plan is called a(n)
To obtain a preliminary * file for a trade name through the Secretary of State
permit, the developer submit a formal written request to the Mississippi Real
must do all of the Estate Commission provide evidence acceptable to the
following, EXCEPT: state that all funds received by the developer will be placed
into an independent escrow account give each purchaser
the opportunity to cancel the purchase contract during the
applicable recision period
* 16
For each two-year license
8
renewal period, how many
hours of continuing 4
education must a licensee 10
submit in order to renew
his/her license?
