MISSISSIPPI REAL ESTATE STATE PORTION
EXAMINATION TEST 2026 QUESTIONS
WITH 100% CORRECT ANSWERS GRADED
A+
⩥ The responsible broker in a company is the person. Answer:
responsible for the daily real estate activities of the company.
⩥ The temporary license of a licensee who fails to complete the required
post-licensing course at the end of the first year will be. Answer:
automatically placed on inactive status.
⩥ How many consecutive terms are brokers appointed to the Mississippi
Real Estate Commission allowed to serve? Answer: No limit
⩥ Every active Mississippi real estate licensee must carry errors and
omissions insurance with deductible requirements of NOT more than.
Answer: $2,500 per claim for damages and $1,000 per claim for defense
costs.
⩥ Every active Mississippi real estate licensee must carry errors and
omissions insurance with which of the following minimum
requirements? Answer: $100,000 per act and $500,000 aggregate for
each licensee
,⩥ Under which circumstance is a licensee allowed by commission rule
to sell his own property as a For Sale by Owner (FSBO)? Answer: The
licensee performs no functions as a licensee during the transaction.
⩥ how many designated brokers may there be in any office? Answer:
one
⩥ The law allows licensees the option to obtain independent errors and
omissions insurance as long as the coverage meets the minimum
standards adopted by the Real Estate Commission. The standards
adopted by the commission Answer: include permissible deductible
limits.
⩥ Basic requirements for becoming a real estate licensee in Mississippi
include Answer: character, age, and residency.
⩥ The state exercises the control over real estate activities of a licensee
under the concept of Answer: police power.
⩥ When a contract for representation is entered into with a consumer, it
is entered into between the Answer: consumer and the broker of the
company.
,⩥ Which of the following does NOT require an active real estate license
in Mississippi? Answer: A person who sells his own property to a
Mississippi purchaser
⩥ Members of the Mississippi Real Estate Commission meet regularly
on Answer: a monthly basis.
⩥ Members of the Mississippi Real Estate Commission are appointed
for Answer: four-year terms.
⩥ Which statement is TRUE concerning errors and omissions (E&O)
coverage?
A)
Licensees may not obtain independent coverage outside the brokerage
policy.
B)
The provider may not cancel a licensee's coverage for failure to pay
premiums.
C)
MREC does not contract with an insurance provider for a group policy.
D)
, Licensees on inactive status are not required to carry E&O insurance.
Answer: Licensees on inactive status are not required to carry E&O
insurance.
⩥ How many days does a licensee have to activate his errors and
omissions insurance before his license will be placed on inactive status?
Answer: 30
⩥ The Real Estate Brokers License Law authorized the establishment of
the Answer: Mississippi Real Estate Commission.
⩥ Who is NOT exempt from licensing requirements?
A)
Anyone selling timberland
B)
Anyone renting and managing his own rentals
C)
Anyone holding a power of attorney
D)
Anyone selling oil and gas leases Answer: Anyone selling timberland
⩥ What happens to a licensee whose errors and omissions insurance has
lapsed? Answer: Placed on inactive status
EXAMINATION TEST 2026 QUESTIONS
WITH 100% CORRECT ANSWERS GRADED
A+
⩥ The responsible broker in a company is the person. Answer:
responsible for the daily real estate activities of the company.
⩥ The temporary license of a licensee who fails to complete the required
post-licensing course at the end of the first year will be. Answer:
automatically placed on inactive status.
⩥ How many consecutive terms are brokers appointed to the Mississippi
Real Estate Commission allowed to serve? Answer: No limit
⩥ Every active Mississippi real estate licensee must carry errors and
omissions insurance with deductible requirements of NOT more than.
Answer: $2,500 per claim for damages and $1,000 per claim for defense
costs.
⩥ Every active Mississippi real estate licensee must carry errors and
omissions insurance with which of the following minimum
requirements? Answer: $100,000 per act and $500,000 aggregate for
each licensee
,⩥ Under which circumstance is a licensee allowed by commission rule
to sell his own property as a For Sale by Owner (FSBO)? Answer: The
licensee performs no functions as a licensee during the transaction.
⩥ how many designated brokers may there be in any office? Answer:
one
⩥ The law allows licensees the option to obtain independent errors and
omissions insurance as long as the coverage meets the minimum
standards adopted by the Real Estate Commission. The standards
adopted by the commission Answer: include permissible deductible
limits.
⩥ Basic requirements for becoming a real estate licensee in Mississippi
include Answer: character, age, and residency.
⩥ The state exercises the control over real estate activities of a licensee
under the concept of Answer: police power.
⩥ When a contract for representation is entered into with a consumer, it
is entered into between the Answer: consumer and the broker of the
company.
,⩥ Which of the following does NOT require an active real estate license
in Mississippi? Answer: A person who sells his own property to a
Mississippi purchaser
⩥ Members of the Mississippi Real Estate Commission meet regularly
on Answer: a monthly basis.
⩥ Members of the Mississippi Real Estate Commission are appointed
for Answer: four-year terms.
⩥ Which statement is TRUE concerning errors and omissions (E&O)
coverage?
A)
Licensees may not obtain independent coverage outside the brokerage
policy.
B)
The provider may not cancel a licensee's coverage for failure to pay
premiums.
C)
MREC does not contract with an insurance provider for a group policy.
D)
, Licensees on inactive status are not required to carry E&O insurance.
Answer: Licensees on inactive status are not required to carry E&O
insurance.
⩥ How many days does a licensee have to activate his errors and
omissions insurance before his license will be placed on inactive status?
Answer: 30
⩥ The Real Estate Brokers License Law authorized the establishment of
the Answer: Mississippi Real Estate Commission.
⩥ Who is NOT exempt from licensing requirements?
A)
Anyone selling timberland
B)
Anyone renting and managing his own rentals
C)
Anyone holding a power of attorney
D)
Anyone selling oil and gas leases Answer: Anyone selling timberland
⩥ What happens to a licensee whose errors and omissions insurance has
lapsed? Answer: Placed on inactive status
