MO Real Estate State Portion
Exam Questions and Answers
100% PASS
If a licensee violates a provision of the Missouri License Law, the licensee: - CORRECT
ANSWER-Shall be guilty of a class B misdemeanor and may be liable for criminal prosecution
A broker takes a listing, which one is illegal in Missouri? - CORRECT ANSWER-Seller collects
94% of list price and broker is to get all above that
If a licensee breaches his fiduciary responsibilities to the principal, which of the following
actions could not be taken against the licensee? - CORRECT ANSWER-The state may rescind
all contracts negotiated by the licensee with other principals during the past year
Broker Carr decides to sell her own house and puts a classified ad in the paper with her
name and phone number only. Is this permissible? - CORRECT ANSWER-No, she must include
information in the ad that she is licensed
The commission may suspend or revoke a license for all of the following reasons EXCEPT: -
CORRECT ANSWER-A broker deposits a commission in his business account
A person in Missouri attended a pre-license class, passed the test, took Missouri Real Estate
Practice and received a license. After a few months, the licensee decided to place their
license on inactive status. Two years later, the licensee decided to re-activate their license.
, What must the licensee do in order to re-activate? - CORRECT ANSWER-Complete 24 Hour
Missouri Real Estate Practice Course for their type of license and apply to the MREC within 6
months
A broker may not conduct his business under any name other than the one in which his
license is issued. A broker acting as a sole proprietor would conduct his business in the name
- CORRECT ANSWER-On his application for the licensure
A seller's listing has expired and the licensee did not take down his sign until two days later.
Did the licensee violate Missouri License Law? - CORRECT ANSWER-Yes, because he did not
have a contract to advertise the property.
All of the following usually appear only in the seller closing statement EXCEPT: - CORRECT
ANSWER-Earnest Money
Seller's loan balance as of May 1 is $60,000. His current interest rate is 8%, the closing date
is May 20. What is the prorated interest at closing? - CORRECT ANSWER-Debit Seller $267
Taxes of $1320 were paid for the previous calendar year. The property was sold and closing
took place on August 16. The seller was responsible for the day of closing. Taxes would be
prorated as follows: - CORRECT ANSWER-$828 debit to the seller, $828 credit to the buyer
A $10,000 insurance policy was issued for 3 years. The 3 year premium is $180.00. If the
policy was dated June 1, 1994, what would the approximate value of the unused portion be
after December 8, 1994 closing? - CORRECT ANSWER-$150
Interest is always a: - CORRECT ANSWER-Debit to the seller
All of the following regarding the settlement statement are true EXCEPT: - CORRECT
ANSWER-It is a good faith breakdown of the buyer's monthly payment
© 2026 Copyright. All Rights Reserved. This document is
protected by copyright law
Exam Questions and Answers
100% PASS
If a licensee violates a provision of the Missouri License Law, the licensee: - CORRECT
ANSWER-Shall be guilty of a class B misdemeanor and may be liable for criminal prosecution
A broker takes a listing, which one is illegal in Missouri? - CORRECT ANSWER-Seller collects
94% of list price and broker is to get all above that
If a licensee breaches his fiduciary responsibilities to the principal, which of the following
actions could not be taken against the licensee? - CORRECT ANSWER-The state may rescind
all contracts negotiated by the licensee with other principals during the past year
Broker Carr decides to sell her own house and puts a classified ad in the paper with her
name and phone number only. Is this permissible? - CORRECT ANSWER-No, she must include
information in the ad that she is licensed
The commission may suspend or revoke a license for all of the following reasons EXCEPT: -
CORRECT ANSWER-A broker deposits a commission in his business account
A person in Missouri attended a pre-license class, passed the test, took Missouri Real Estate
Practice and received a license. After a few months, the licensee decided to place their
license on inactive status. Two years later, the licensee decided to re-activate their license.
, What must the licensee do in order to re-activate? - CORRECT ANSWER-Complete 24 Hour
Missouri Real Estate Practice Course for their type of license and apply to the MREC within 6
months
A broker may not conduct his business under any name other than the one in which his
license is issued. A broker acting as a sole proprietor would conduct his business in the name
- CORRECT ANSWER-On his application for the licensure
A seller's listing has expired and the licensee did not take down his sign until two days later.
Did the licensee violate Missouri License Law? - CORRECT ANSWER-Yes, because he did not
have a contract to advertise the property.
All of the following usually appear only in the seller closing statement EXCEPT: - CORRECT
ANSWER-Earnest Money
Seller's loan balance as of May 1 is $60,000. His current interest rate is 8%, the closing date
is May 20. What is the prorated interest at closing? - CORRECT ANSWER-Debit Seller $267
Taxes of $1320 were paid for the previous calendar year. The property was sold and closing
took place on August 16. The seller was responsible for the day of closing. Taxes would be
prorated as follows: - CORRECT ANSWER-$828 debit to the seller, $828 credit to the buyer
A $10,000 insurance policy was issued for 3 years. The 3 year premium is $180.00. If the
policy was dated June 1, 1994, what would the approximate value of the unused portion be
after December 8, 1994 closing? - CORRECT ANSWER-$150
Interest is always a: - CORRECT ANSWER-Debit to the seller
All of the following regarding the settlement statement are true EXCEPT: - CORRECT
ANSWER-It is a good faith breakdown of the buyer's monthly payment
© 2026 Copyright. All Rights Reserved. This document is
protected by copyright law
