2023 Edition

Missouri Real Estate Practice Exam

Take this free practice test to get an idea of what is on the Missouri Real Estate Salesperson exam administered by the Missouri Real Estate Commission (MREC).  The actual exam has 145 questions and 4 hours is given to complete it.  Tests.com will soon publish a full simulation exam, so check back soon. 

T
o prepare for the actual exam, check out our 145 Question Missouri Real Estate Salesperson Practice Exam with the same number of questions as the actual exam plus 350 bonus core real estate questions.
 
 

I. Real Estate Licenses in MIssouri

1. Salesperson Sam, a new yet very successful agent in Missouri, forgot to renew his license and is now seven months late. How much will Sam be assessed as a late fee?
2. Savanna, a broker, has just gotten married and changed her name. She has updated her website, business cards, and all her advertising to reflect her new last name. What else must Savanna do to stay compliant with the Missouri Real Estate Commission?
3. A licensee must take how many hours of core curriculum continuing education in order to renew a real estate license in Missouri?
4. All In Real Estate is opening a new second location across town in St. Louis, MO. What must the broker do to remain compliant with the rules and statutes set forth by the MREC regarding branch offices?
5. Terri is hired for a clerical position at Top Notch Real Estate but does not have a real estate license. Which of the following tasks would Terri NOT be permitted to perform?
6. The Missouri Real Estate Commission is made up of how many broker members and how long must they have held a broker's license?

II. Business Conduct and Practices in Missouri

7. Which of the following is considered a material fact to a transaction that must be disclosed?
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8. Which of the following correctly states the fiduciary duties a licensee owes to a client in Missouri?
9. Licensee Lisa has paid for advertising in a local publication in Missouri. Lisa had included her photo, name, address, and phone number in the advertisement. What else must Lisa include in her ad?
10. Ted, a licensed real estate broker, places an advertisement in the local newspaper offering anyone who lists their property for sale with him in the month of July will receive $500 cash on the spot and one entry into a lottery for a chance to win a cruise. Which statement regarding this advertising is true?
11. Licensee Paula is having her 3rd child and needs a bigger home. She plans to represent herself and her husband in the transaction and looks through the MLS for homes that will suit their needs. She finds a home for sale by owner that is perfect for her growing family. She calls to set a time to view the property and tells the seller she is a licensee and is interested in buying the property. She views the home, writes an offer, and is under contract to purchase. What else must Paula do?
12. Buyer Karen is making an offer on a property of $125,000, asking the seller to split the title fees. She states that she can provide her preapproval letter and can close the transaction in 30 days. She includes a sapphire necklace as her earnest deposit. Which of the following is true?
13. At closing, the buyer, Alan, is reviewing the settlement statement. Under buyer's debits are fees for appraisal, inspections, home-owners insurance, loan origination, title work, and the broker's document preparation fee. Which of the following statements is true?
14. Licensee Brent is working with buyer client Carl on the purchase of a vacation home. Carl has some unique circumstances and requests. Licensee Brent cannot find a suitable form to fit the situation. Brent decides to write a new contract from scratch to better serve his client's needs. Is this allowable under the license law?
15. In Missouri, settlement statements must be delivered to the buyer and seller, outlining all the transaction financial information. Who is responsible for delivering or causing the settlement statements to be delivered to the buyer and seller?
16. Roger forms a corporation and opens a business to deal in exchanging properties without a real estate license. In the process of a property exchange, one of the parties gets the feeling that Roger is not adequately trained or licensed and refused to pay for his services. Roger starts court proceedings to sue the party for his unpaid commission. Which of the following is true?

III. Disciplinary Proceedings in Missouri

17. Licensee Brian's broker Zack has been up to some questionable activities lately, and Brian has been cautious to avoid any involvement in such activities. Brian believes Zack may be violating the license law. What might he be charged with if Zack is found guilty of violating the license law?
18. Brokers is Missouri are ultimately responsible for the actions of affiliated licensees. If an agent violates the license law, their broker may also be disciplined for the violation. In which of the following instances would the broker most likely NOT be held liable for the agent's actions?

IV. Brokerage Relationships in Missouri

19. Salesperson Gavin represents seller Stacy. Gavin shows Stacy's home to several prospective buyers until one particular buyer, Tim, requests to make an offer and asks Gavin to represent him as a buyer's agent. Gavin agrees and signs a buyer's agency agreement with Tim without Stacy's knowledge. Must Gavin disclose his agency relationship with Tim to Stacy?
20. Which of the following may NOT be included in a listing agreement in Missouri?

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Quality starts with who wrote the material.
Our practice exam writer
s
:
Kimberly Trimmel

Kimberly is a licensed real estate broker in Illinois and a real estate instructor with the Real Estate Institute. She is a certfied instructor with the National Association of Realtors. She has worked as a broker with Century 21, Coldwell Banker and Keller Williams and was formerly the Director of Professinal Standards with the Chicago Association of Realtors.
Our material is specific to the Illinois Real Estate Broker Exam, covering both the National and State sections with these content areas: 
  • Property Ownership
  • Land Use Regulations
  • Laws of Agency
  • Fiduciary Duties  
  • Property Valuation
  • Financial Analysis   
  • Financing
  • Transfer of Property
  • Disclosures
  • Real Estate Practice
  • Contracts
  • and more...