Mississippi Real Estate License Law Exam Questions With
Already Solved Correctly Answers!!
1. Who is can
required to
have areal es-
tate license?
2. Who is
exempt from
having a
real estate
li- cense?
3. What are the
re-
quirements
for a licensed
person to
prepare a bro-
ker's price
opin- ion and
charge a fee?
4. for what types
of
transactions
, Mississippi Real Estate License Law Exam Questions With
Already Solved Correctly Answers!!
Anyone advertising, selling or purchase, leasing or exchange of real estate.
leasing property on behalf of
others or carrying out real 3. The acts of any person while acting as a receiver, trustee,
estate business on behalf of administrator, executor, guardian or under court order, or while acting
others. under authority of a deed of trust or will
4. public oflcers while performing their duties as such
1. Attorneys at law in
the performance of 5. anyone dealing exclusively in oil and gas leases and mineral rights
primary or incidental
1. The license of that licensee is active and in good standing
duties as such
attorneys at law 2. The broker's price opinion meets the requirements of subsections
3 and 4 of this section
2. Any person holding in
good faith a duly executed
power of attorney from the
owner, authorizing the final
consummation and 1. An existing or potential seller for the purposes of listing and selling a
execution for the sale, parcel of real property
the BPO be used?
2. An existing or potential buyer of a parcel of real property
, Mississippi Real Estate License Law Exam Questions With
Already Solved Correctly Answers!!
3. A third party making decisions or performing due diligence
related to the potential listing, ottering, sale, exchange, option, lease or
acquisition price of a parcel of real estate.
4. For someone like a lien holder or relocation company for
any purpose to estimate value but NOT to be used for any type of
financing
5. The preparation of a BPO can be used IN CONJUNCTION WITH or
IN ADDITION TO an appraisal
5. What things
are to be 1. Must be in writing
included on a
BPO? 2. Must conform to MREC's guidelines as outlined by national
standards and guidelines
3. statement of the purpose of the BPO
4. Brief description of the subject property to be priced
5. basic reasoning in arriving at price including market data and/or
capitalization computation
6. any assumptions or limiting conditions
7. disclosure of existing or contemplated interest of the broker or
salesperson
8. Ettective date of the BPO
9. Name and signature of broker or salesperson preparing BPO
10. name of the broker or salesperson's firm
, Mississippi Real Estate License Law Exam Questions With
Already Solved Correctly Answers!!
11. signature date
Already Solved Correctly Answers!!
1. Who is can
required to
have areal es-
tate license?
2. Who is
exempt from
having a
real estate
li- cense?
3. What are the
re-
quirements
for a licensed
person to
prepare a bro-
ker's price
opin- ion and
charge a fee?
4. for what types
of
transactions
, Mississippi Real Estate License Law Exam Questions With
Already Solved Correctly Answers!!
Anyone advertising, selling or purchase, leasing or exchange of real estate.
leasing property on behalf of
others or carrying out real 3. The acts of any person while acting as a receiver, trustee,
estate business on behalf of administrator, executor, guardian or under court order, or while acting
others. under authority of a deed of trust or will
4. public oflcers while performing their duties as such
1. Attorneys at law in
the performance of 5. anyone dealing exclusively in oil and gas leases and mineral rights
primary or incidental
1. The license of that licensee is active and in good standing
duties as such
attorneys at law 2. The broker's price opinion meets the requirements of subsections
3 and 4 of this section
2. Any person holding in
good faith a duly executed
power of attorney from the
owner, authorizing the final
consummation and 1. An existing or potential seller for the purposes of listing and selling a
execution for the sale, parcel of real property
the BPO be used?
2. An existing or potential buyer of a parcel of real property
, Mississippi Real Estate License Law Exam Questions With
Already Solved Correctly Answers!!
3. A third party making decisions or performing due diligence
related to the potential listing, ottering, sale, exchange, option, lease or
acquisition price of a parcel of real estate.
4. For someone like a lien holder or relocation company for
any purpose to estimate value but NOT to be used for any type of
financing
5. The preparation of a BPO can be used IN CONJUNCTION WITH or
IN ADDITION TO an appraisal
5. What things
are to be 1. Must be in writing
included on a
BPO? 2. Must conform to MREC's guidelines as outlined by national
standards and guidelines
3. statement of the purpose of the BPO
4. Brief description of the subject property to be priced
5. basic reasoning in arriving at price including market data and/or
capitalization computation
6. any assumptions or limiting conditions
7. disclosure of existing or contemplated interest of the broker or
salesperson
8. Ettective date of the BPO
9. Name and signature of broker or salesperson preparing BPO
10. name of the broker or salesperson's firm
, Mississippi Real Estate License Law Exam Questions With
Already Solved Correctly Answers!!
11. signature date
