Mississippi Practice Verified Multiple Choice and
Conceptual Actual Emended Exam Questions With
Reviewed 100% Correct Detailed Answers
Guaranteed Pass!!Current Update!!
1. Who appoints the members of the Mississippi Real Estate Commission?
a. Secretary of State
b. Governor
c. State Legislature
d. Attorney General
2. How many members serve on the Mississippi Real Estate Commission?
a. 3
b. 5
c. 7
d. 9
3. How long is a term for an MREC commissioner?
a. 2 years
b. 3 years
c. 4 years
d. 5 years
4. What is the main role of the MREC?
a. Collect property taxes
b. Regulate and enforce real estate license laws
c. Provide mortgage financing
d. Manage state-owned real estate
5. When must license renewals be submitted to MREC to avoid late fees?
a. November 30
b. December 15
, c. December 31
d. January 15
6. What is the penalty for practicing real estate without a license in
Mississippi?
a. Written warning only
b. A fine, possible imprisonment, and/or injunction
c. License suspension
d. Loss of CE credits
7. How many hours of continuing education (CE) are required for license
renewal in Mississippi?
a. 8 hours every 2 years
b. 12 hours every 2 years
c. 16 hours every 2 years
d. 24 hours every 2 years
8. Who has the authority to revoke or suspend a real estate license in
Mississippi?
a. Attorney General
b. Mississippi Real Estate Commission
c. Local real estate boards
d. County clerk
9. How many years of experience must a salesperson have before applying for
a broker license?
a. 6 months
b. 12 months
c. 18 months
d. 24 months
10.What must be done within 10 days if a licensee is convicted of a felony?
a. Nothing unless license renewal is due
b. Notify the sponsoring broker only
, c. Notify the MREC in writing
d. Apply for license reinstatement
2. Timeshare Act Compliance
1. Under the Mississippi Timeshare Act, who acts as a fiduciary for timeshare
purchasers?
a. The real estate broker
b. The management entity
c. The title company
d. The state treasurer
2. How many days must a purchaser be given to cancel a timeshare contract
without penalty?
a. 3 days
b. 5 days
c. 7 days
d. 10 days
3. What must be provided to the buyer before signing a timeshare contract?
a. Public offering statement
b. Mortgage pre-approval
c. Title insurance policy
d. Sales closing disclosure
4. Timeshare advertising must not contain:
a. Promotional offers
b. False or misleading statements
c. Photos of the property
d. Incentives for visits
5. The exchange program report must include all EXCEPT:
a. Names of affiliated resorts
b. Fees for participation
, c. Certificate of renewal from the Timeshare Association
d. Terms and conditions
6. Who enforces the Mississippi Timeshare Act?
a. Secretary of State
b. MREC
c. Mississippi Supreme Court
d. Local planning boards
7. When must a timeshare developer register the project with MREC?
a. After selling the first unit
b. Before offering any timeshares for sale
c. At the end of the first fiscal year
d. Within 6 months of starting sales
8. What is the penalty for violating the Timeshare Act?
a. Suspension only
b. Civil penalties and possible license suspension/revocation
c. Revocation without appeal
d. Community service
9. If a buyer cancels a timeshare purchase within the allowed period, how
soon must the refund be issued?
a. 5 days
b. 10 days
c. 20 days
d. 30 days
10.Can a timeshare developer use lottery or drawing promotions for sales?
a. Yes, without restrictions
b. Yes, if compliant with advertising laws
c. No, never
d. Only if approved by the Attorney General
Conceptual Actual Emended Exam Questions With
Reviewed 100% Correct Detailed Answers
Guaranteed Pass!!Current Update!!
1. Who appoints the members of the Mississippi Real Estate Commission?
a. Secretary of State
b. Governor
c. State Legislature
d. Attorney General
2. How many members serve on the Mississippi Real Estate Commission?
a. 3
b. 5
c. 7
d. 9
3. How long is a term for an MREC commissioner?
a. 2 years
b. 3 years
c. 4 years
d. 5 years
4. What is the main role of the MREC?
a. Collect property taxes
b. Regulate and enforce real estate license laws
c. Provide mortgage financing
d. Manage state-owned real estate
5. When must license renewals be submitted to MREC to avoid late fees?
a. November 30
b. December 15
, c. December 31
d. January 15
6. What is the penalty for practicing real estate without a license in
Mississippi?
a. Written warning only
b. A fine, possible imprisonment, and/or injunction
c. License suspension
d. Loss of CE credits
7. How many hours of continuing education (CE) are required for license
renewal in Mississippi?
a. 8 hours every 2 years
b. 12 hours every 2 years
c. 16 hours every 2 years
d. 24 hours every 2 years
8. Who has the authority to revoke or suspend a real estate license in
Mississippi?
a. Attorney General
b. Mississippi Real Estate Commission
c. Local real estate boards
d. County clerk
9. How many years of experience must a salesperson have before applying for
a broker license?
a. 6 months
b. 12 months
c. 18 months
d. 24 months
10.What must be done within 10 days if a licensee is convicted of a felony?
a. Nothing unless license renewal is due
b. Notify the sponsoring broker only
, c. Notify the MREC in writing
d. Apply for license reinstatement
2. Timeshare Act Compliance
1. Under the Mississippi Timeshare Act, who acts as a fiduciary for timeshare
purchasers?
a. The real estate broker
b. The management entity
c. The title company
d. The state treasurer
2. How many days must a purchaser be given to cancel a timeshare contract
without penalty?
a. 3 days
b. 5 days
c. 7 days
d. 10 days
3. What must be provided to the buyer before signing a timeshare contract?
a. Public offering statement
b. Mortgage pre-approval
c. Title insurance policy
d. Sales closing disclosure
4. Timeshare advertising must not contain:
a. Promotional offers
b. False or misleading statements
c. Photos of the property
d. Incentives for visits
5. The exchange program report must include all EXCEPT:
a. Names of affiliated resorts
b. Fees for participation
, c. Certificate of renewal from the Timeshare Association
d. Terms and conditions
6. Who enforces the Mississippi Timeshare Act?
a. Secretary of State
b. MREC
c. Mississippi Supreme Court
d. Local planning boards
7. When must a timeshare developer register the project with MREC?
a. After selling the first unit
b. Before offering any timeshares for sale
c. At the end of the first fiscal year
d. Within 6 months of starting sales
8. What is the penalty for violating the Timeshare Act?
a. Suspension only
b. Civil penalties and possible license suspension/revocation
c. Revocation without appeal
d. Community service
9. If a buyer cancels a timeshare purchase within the allowed period, how
soon must the refund be issued?
a. 5 days
b. 10 days
c. 20 days
d. 30 days
10.Can a timeshare developer use lottery or drawing promotions for sales?
a. Yes, without restrictions
b. Yes, if compliant with advertising laws
c. No, never
d. Only if approved by the Attorney General
