MO 24 Hour Real Estate exam with correct answers 2024

When should a prospective client make the informed choice regarding a real estate licensee? correct answers Prior to working with a real estate licensee Under Missouri law, a transaction broker is NOT responsible for correct answers sharing acceptable financing terms with all parties. Which of the following statements best defines commercial real estate? correct answers Any real estate other than real estate containing one to four residential units, real estate on which no buildings or structures are located, or real estate classified as agricultural and horticultural property for assessment purposes What are the two exceptions regarding Designated Agency which can both result in Dual Agency? correct answers If the agent representing the person as a buyer or tenant is also the agent who listed the property the person wants to buy or lease or if the supervising broker of two designated agents becomes involved in the transaction Once a client has entered into a written agreement for services with a designated broker, which of the following is TRUE? correct answers It is not necessary that the licensee make the disclosures again to that party. Which of the following would be considered as a ministerial act? correct answers An act that is informative in nature, but is not to the level of representation Missouri law does not allow licensees to work correct answers simultaneously as a designated agent for both parties. Under what condition may an unlicensed office assistant provide a written copy of the Broker Disclosure form to the tenant? correct answers If the unlicensed office personnel does this in the performance of his or her property management-associated duties and on behalf of the landlord's agent or transaction broker What is the main purpose of the Missouri Broker Disclosure Form? correct answers For the public to make an informed choice before working with a real estate licensee An adverse material fact refers to what aspect of a property? correct answers The physical condition of the property You are conducting an open house on a property, and a couple walks in and asks, " What are they asking for the house?" What would be the best thing for you to say? correct answers "Take a look around and let me know if you have any questions."