Missouri Real Estate 48 Hour Course Unit Quizzes MO Law Questions and Answers

Missouri Real Estate 48 Hour Course Unit Quizzes MO Law Questions and Answers c. license law - Ans:-Chapter 339 of the Missouri Statutes is known as: a. Law of agency b. code of ethics c. license law d. administrative commission code c. her commission would be based on her agreement with her broker - Ans:-A salesperson licensed in another state but NOT in MO comes into MO and refers her brother to a RE company in MO to assist him in the purchase of a home. The salesperson did this with the knowledge and permission of her broker, and the salesperson's broker cooperated with a MO broker in the sale of the property. What commission is she due? ©GRACEAMELIA 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED FIRST PUBLISH OCTOBER 2024 Page 2/42 a. the full commission since she is licensed in another state b. half the commission since the other half would go to her company c. her commission would be based on her agreement with her broker d. no commission since she is NOT licensed in MO d. a person who negotiates or helps consumers consummate option to buy or sell real estate - Ans:- Which of the following would require a real estate license? a. an attorney transferring property for a client b. an auctioneer employed by the owner c. a property manager employed by a broker to only show apartments d. a person who negotiates or helps consumers consummate option to buy or sell real estate a. the publisher of a magazine to aid "for sale by owners" in selling their homes - Ans:-Which must be licensed by the MO Real Estate Commission? a. the publisher of a magazine to aid "for sale by owners" in selling their homes ©GRACEAMELIA 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED FIRST PUBLISH OCTOBER 2024 Page 3/42 b. a lake property developer registered with HUD c. an employee of a corporation selling cooperate property d. an apartment manager representing the owner who shows rental units c. a property manager actively leasing and selling for a real estate company - Ans:-Which would require a license? a. an attorney transferring real estate for a client b. an auctioneer employed by an owner c. a property manager actively leasing and selling for a real estate company d. an owner transferring his own property b. take his name and have a licensee return the call - Ans:-An unlicensed secretary is the only one in a residential real estate office when Broker Carr from another company calls requesting information on a property. The secretary may: a. give him the sale price and address ©GRACEAMELIA 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED FIRST PUBLISH OCTOBER 2024 Page 4/42 b. take his name and have a license return the call c. give any info necessary since it is another broker and not a member of the general public d. mail the broker info b. Chapter 339 - Ans:-The license law is known as: a. Chapter 11 b. Chapter 339 c. Chapter 7 d. Chapter 12 c. they would need a license and would only be able to accept compensation from their broker - Ans:-A motel desk clerk gives the names of persons looking to purchase a home who are moving into town to a salesperson friend in exchange for a referral fee. Which BEST describes the situation? a. they would NOT need a license since their primary income comes from their salary b. they had a license, they could accept referral fee from the salesperson ©GRACEAMELIA 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED FIRST PUBLISH OCTOBER 2024 Page 5/42 c. they would need a license and would only be able to accept compensation from their broker d. they could accept compensation without a license as long as it was not in money form b. the MREC could revoke or suspend the license - Ans:-The authorities are investigating a violation of the law by a licensee. What could happen? a. the MAHC could revoke or suspend the license b. the MREC could revoke or suspend the license c. the MREC could impose criminal penalties