Missouri Real Estate Salesperson State Licensing Exam Version 1
Practice exam for Salesperson and Broker License Exam under Real Estate Exams (Licensing Exams). 5 sample questions.
Sample Questions
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Question 1
On October 1 of an odd-numbered year, a Missouri real estate salesperson's license is surrendered. How much of the license fee is refunded to the applicant?
Correct Answer: A
Rationale: In Missouri, real estate licenses are issued for a two-year period, and fees are non-refundable upon surrender. Surrendering a license on October 1 of an odd-numbered year does not entitle the licensee to a refund. Thus, no portion of the fee is refunded. This policy ensures administrative consistency.
Rationale: In Missouri, real estate licenses are issued for a two-year period, and fees are non-refundable upon surrender. Surrendering a license on October 1 of an odd-numbered year does not entitle the licensee to a refund. Thus, no portion of the fee is refunded. This policy ensures administrative consistency.
Question 2
A salesperson applying for a broker-salesperson license in Missouri MUST
Correct Answer: C
Rationale: Missouri requires a salesperson to have two years of active experience, complete a broker pre-examination course, and pass the broker exam to become a broker-salesperson. This ensures adequate experience and education. Other options include incorrect or incomplete requirements. The two-year rule is specific to Missouri law.
Rationale: Missouri requires a salesperson to have two years of active experience, complete a broker pre-examination course, and pass the broker exam to become a broker-salesperson. This ensures adequate experience and education. Other options include incorrect or incomplete requirements. The two-year rule is specific to Missouri law.
Question 3
A Missouri real estate licensee negotiates the sale of a house intended for his fiancee and himself. He properly identifies himself to the seller as a licensee, but does not tell the seller that he is getting married to the buyer. Do the licensee's actions violate the Missouri license law?
Correct Answer: C
Rationale: Missouri law mandates that licensees disclose their status when purchasing property, which was done here. Marital plans or future interest via marriage are not required disclosures. Thus, the licensee's actions comply with the law. This protects transparency without mandating personal disclosures.
Rationale: Missouri law mandates that licensees disclose their status when purchasing property, which was done here. Marital plans or future interest via marriage are not required disclosures. Thus, the licensee's actions comply with the law. This protects transparency without mandating personal disclosures.
Question 4
A seller's property is appraised at $100000. The seller and a prospective buyer agree to a sale price of $80000. The buyer suggests writing a second contract to present to the lender showing a sale price of $100000 with an $80000 loan. This contract is legal
Correct Answer: D
Rationale: Creating a second contract with a false sale price to deceive a lender is fraudulent and illegal under Missouri law. No consent or appraisal justifies this action. It violates ethical and legal standards. Such practices undermine trust in real estate transactions.
Rationale: Creating a second contract with a false sale price to deceive a lender is fraudulent and illegal under Missouri law. No consent or appraisal justifies this action. It violates ethical and legal standards. Such practices undermine trust in real estate transactions.
Question 5
Which of the following is true about the Missouri license law?
Correct Answer: A
Rationale: Missouri license law prohibits unlicensed individuals from performing real estate transactions for others for compensation. It does not regulate auctioneers or require forming a corporation. The law targets regulated activities. This ensures only licensed professionals handle such transactions.
Rationale: Missouri license law prohibits unlicensed individuals from performing real estate transactions for others for compensation. It does not regulate auctioneers or require forming a corporation. The law targets regulated activities. This ensures only licensed professionals handle such transactions.