Which of the following is a true statement regarding agency disclosure in Texas?

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Below are free Missouri real estate practice exam questions that will closely resemble your licensing exam. Review these questions and see what you know! The answers are provided beneath the question set.

1. Rusty applied for his Missouri license. Assuming he’s met all the requirements, which of the following is a true statement?

1. The Administrative Hearing Commission will issue one paper copy of the license, which it will keep on file in its office.
2. The Administrative Hearing Commission will issue two paper copies of his license and send one each to Rusty and his designated broker. s
3. The MREC will issue one paper copy of his license and send that to Rusty.
4. The MREC will issue one paper copy of his license and send that to Rusty’s designated broker.

2. At the latest, the licensee must provide the Missouri Broker Disclosure Form to an unrepresented consumer upon obtaining any personal or financial information from the consumer, or ______.

1. Before agreeing to sign a brokerage service agreement, whichever occurs first
2. Before agreeing to sign a brokerage service agreement, whichever occurs last
3. Before the signing of a brokerage service agreement, whichever occurs first
4. Before the signing of the brokerage service agreement, whichever occurs last

3. Asher has just submitted his Missouri salesperson license application. What fee he must have included with the application?

1. $120
2. $40
3. $50
4. $80

4. Which of the following is a true statement regarding non-negotiable types of earnest money in Missouri?

1. Licensees may not accept them.
2. Licensees may only accept them if accompanied by $2,000 or more of negotiable funds.
3. Licensees may only accept them if they are valued at more than $2,500.
4. Licensees may only accept them when they have signed, written consent from the seller.

5. The Missouri Administrative Hearing Commission determines that licensee Lassie’s actions constitute a violation of license law. Which of the following entities has the power to revoke or suspend Lassie’s license?

1. Both the Administrative Hearing Commission and the Missouri Real Estate Commission
2. The Administrative Hearing Commission
3. The attorney general of Missouri
4. The Missouri Real Estate Commission

6. Which of the following is a true statement about Missouri real estate licenses?

1. "Missouri broker licenses renew before salesperson licenses.
2. Missouri salesperson and broker licenses renew at the same time.
3. Missouri salesperson licenses renew before broker licenses.
4. Missouri salesperson licenses renew in odd-numbered years, whereas broker licenses renew in even-numbered years.

7. Courses on the specific topics may be submitted by approved schools to MREC for core course consideration for continuing education credit. Which of the following is one such topic?

1. Business skills
2. Property management
3. Salesmanship
4. Time management

8. In Missouri, which one of these scenarios would require a real estate license?

1. Henry is selling his own home and isn’t using the services of a real estate agent.
2. Janice is searching for a new home for a friend moving into town. After the friend buys a property, Janice will receive 2% of the sales price for her time.
3. Peter is helping his sister Kristen find a new apartment. He’s searching listings and calling property management companies, but won’t receive anything in return.
4. Ron is acting as executor of his uncle’s estate, which includes selling the property his uncle owned.

Answers: 1. D, 2. C, 3. B, 4. D, 5. D, 6. A, 7. B, 8. B

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