MO Real Estate Glossary Exam
Questions and Answers 100%
PASS
Adverse Material Fact - CORRECT ANSWER-A fact pertaining to the physical condition of the
property not reasonably ascertained or known to a party which negatively affects the value
of the property.
Environmental hazards, physical condition, material defects, material defects of title
Affiliated Licensee - CORRECT ANSWER-Any broker or salesperson who works under the
supervision of a designated broker.
Agent - CORRECT ANSWER-A person or entity acting pursuant to the provisions of this
chapter.
Association - CORRECT ANSWER-An unincorporated body of persons uniting and acting
together for the prosecution of some common enterprise, but not a corporation.
Broker Disclosure Form - CORRECT ANSWER-The current form prescribed by the commission
for presentation to a buyer, landlord, seller or tenant who has not entered into a written
agreement for brokerage services.
, Brokerage Relationship - CORRECT ANSWER-Relationship created between a designated
broker, the broker's affiliated licensees and a client relating to the performance of services of
a broker.
Client - CORRECT ANSWER-Buyer, Seller, Landlord or Tenant who has entered into a
brokerage relationship with a licensee.
Commercial Real Estate - CORRECT ANSWER-Any real estate other than real estate
containing 1-4 residential units, real estate on which no buildings or structures are located or
real estate categorized as agricultural or horticultural property for assessment
Commission - CORRECT ANSWER-Missouri Real Estate Commission
Confidential Information - CORRECT ANSWER-Info obtained by the licensee from the client
and designated confidential by the client.
Customer - CORRECT ANSWER-An actual or potential seller, buyer, landlord or tenant in a RE
transaction in which a licensee is involved but has not entered into a brokerage relationship
with the licensee.
Designated Agent - CORRECT ANSWER-A licensee named by a designated broker as the
limited agent of a client.
Designated Broker - CORRECT ANSWER-Any individual licensed as a broker who is operating
pursuant to the definition.
Designated Transaction Broker - CORRECT ANSWER-A licensee named by a designated
broker or deemed appointed by a designated broker as the transaction broker for a client.
© 2026 Copyright. All Rights Reserved. This document is
protected by copyright law
Questions and Answers 100%
PASS
Adverse Material Fact - CORRECT ANSWER-A fact pertaining to the physical condition of the
property not reasonably ascertained or known to a party which negatively affects the value
of the property.
Environmental hazards, physical condition, material defects, material defects of title
Affiliated Licensee - CORRECT ANSWER-Any broker or salesperson who works under the
supervision of a designated broker.
Agent - CORRECT ANSWER-A person or entity acting pursuant to the provisions of this
chapter.
Association - CORRECT ANSWER-An unincorporated body of persons uniting and acting
together for the prosecution of some common enterprise, but not a corporation.
Broker Disclosure Form - CORRECT ANSWER-The current form prescribed by the commission
for presentation to a buyer, landlord, seller or tenant who has not entered into a written
agreement for brokerage services.
, Brokerage Relationship - CORRECT ANSWER-Relationship created between a designated
broker, the broker's affiliated licensees and a client relating to the performance of services of
a broker.
Client - CORRECT ANSWER-Buyer, Seller, Landlord or Tenant who has entered into a
brokerage relationship with a licensee.
Commercial Real Estate - CORRECT ANSWER-Any real estate other than real estate
containing 1-4 residential units, real estate on which no buildings or structures are located or
real estate categorized as agricultural or horticultural property for assessment
Commission - CORRECT ANSWER-Missouri Real Estate Commission
Confidential Information - CORRECT ANSWER-Info obtained by the licensee from the client
and designated confidential by the client.
Customer - CORRECT ANSWER-An actual or potential seller, buyer, landlord or tenant in a RE
transaction in which a licensee is involved but has not entered into a brokerage relationship
with the licensee.
Designated Agent - CORRECT ANSWER-A licensee named by a designated broker as the
limited agent of a client.
Designated Broker - CORRECT ANSWER-Any individual licensed as a broker who is operating
pursuant to the definition.
Designated Transaction Broker - CORRECT ANSWER-A licensee named by a designated
broker or deemed appointed by a designated broker as the transaction broker for a client.
© 2026 Copyright. All Rights Reserved. This document is
protected by copyright law
