Purpose of mrec - Study guides, Class notes & Summaries
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MS Real Estate Exam Correct 100%(RATED A+)
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MREC - ANSWER State agency To regulate licensing of brokers in sales person 
 
Broker - ANSWER Anyone who sells, buys, leases, etc. property for a fee 
 
Responsible non-resident broker - ANSWER Licensed in another state but no Mississippi license 
 
sales person - ANSWER Licensee employed by broker to act on behalf of broker for compensation 
 
Unlicensed Assistant - ANSWER Employee not allowed to perform activities requiring license. 
 
Purpose of the MREC - ANSWER Protect consumers via licens...
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FINAL EXAM (Bob Brooks) 2024 Actual Questions and Correct Answers Solved 100%.
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FINAL EXAM (Bob Brooks) 2024 Actual Questions and Correct Answers Solved 100%. 
 
When must earnest money and/or deposits accepted by the broker be put into the escrow account? 
 
a. Earnest money does not have to be put into an escrow account. 
b. By the close of business of the next banking day 
c. Within 24 hours 
d. Within 48 hours 
b. By the close of business of the next banking day 
In order to record a deed, it MUST be in writing and: 
 
a. signed by grantee 
b. recite the actual purchase...
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Real Estate Practice Exam (Missouri) Questions and Answers
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Real Estate Practice Exam (Missouri) 
Questions and Answers 
An ad in the local paper was placed by Sarah, a licensed salesperson, on behalf of her 
seller. The ad reads "Beautiful country lots located on Lake Ivory. Must see! With the 
purchase of one gorgeous lakeside lot, you will receive a second free. Plus, all 
purchasers' names will be entered into our lottery sweepstakes! Come soon while lots 
are still available." Which of the following statements concerning the ad is the most 
accur...
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THE MISSISSIPPI REAL ESTATE COMMISSION ACCURATE 100%.
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Someone who is licensed in Mississippi to sell, buy, or 
lease real estate for a fee is defined as a 
 
a. real estate salesperson. 
b. responsible nonresident broker. 
c. real estate broker. 
d. personal assistant. - ANSWER c. real estate broker. 
 
The primary purpose of the Mississippi Real Estate 
Commission is to 
 
a. issue real estate licenses. 
b. protect the public. 
c. test real estate license applicants 
d. investigate real estate law violations. - ANSWER b. protect the public. 
 
Whi...
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FINAL EXAM (Bob Brooks) Questions and Answers 100% Pass
- Exam (elaborations) • 29 pages • 2024
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FINAL EXAM (Bob Brooks) Questions and 
Answers 100% Pass 
When must earnest money and/or deposits accepted by the broker be put into the 
escrow account? 
a. Earnest money does not have to be put into an escrow account. 
b. By the close of business of the next banking day 
c. Within 24 hours 
d. Within 48 hours - Answer- b. By the close of business of the next banking day 
In order to record a deed, it MUST be in writing and: 
a. signed by grantee 
b. recite the actual purchase price 
c. acknowl...
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Missouri portion of real estate exam graded A+
- Exam (elaborations) • 7 pages • 2023
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Missouri portion of real estate exam graded A+ what is the purpose of chaper 339 protec the public from sales persons and brokers 
chapter 339 is also called what license law 
mo real estate commission can fine how much for violations 2500 per cioloation with a maximum of 25000 for contunued violation 
mo will not here what kind of complaints commisiion 
a real estate can not work with out workers permit from mrc. 
when do real estate agents and brokers need to renew license broker june 30 and s...
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THE MISSISSIPPI REAL ESTATE COMMISSION ACCURATE 100%.
- Exam (elaborations) • 2 pages • 2024
- Available in package deal
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- $14.49
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Someone who is licensed in Mississippi to sell, buy, or 
lease real estate for a fee is defined as a 
 
a. real estate salesperson. 
b. responsible nonresident broker. 
c. real estate broker. 
d. personal assistant. - ANSWER c. real estate broker. 
 
The primary purpose of the Mississippi Real Estate 
Commission is to 
 
a. issue real estate licenses. 
b. protect the public. 
c. test real estate license applicants 
d. investigate real estate law violations. - ANSWER b. protect the public. 
 
Whi...
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FINAL EXAM (BOB BROOKS) EXAM | QUESTIONS & ANSWERS (VERIFIED) | LATEST UPDATE | GRADED A+
- Exam (elaborations) • 37 pages • 2024
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1 
FINAL EXAM (BOB BROOKS) EXAM | 
QUESTIONS & ANSWERS (VERIFIED) | 
LATEST UPDATE | GRADED A+ 
When must earnest money and/or deposits accepted by the broker be put into the 
escrow account? 
a. Earnest money does not have to be put into an escrow account. 
b. By the close of business of the next banking day 
c. Within 24 hours 
d. Within 48 hours 
Correct Answer: b. By the close of business of the next banking day 
In order to record a deed, it MUST be in writing and: 
a. signed by grante...
-
FINAL EXAM (Bob Brooks) 2024 Actual Questions and Correct Answers Solved 100%.
- Exam (elaborations) • 17 pages • 2024
-
- $10.99
- + learn more
FINAL EXAM (Bob Brooks) 2024 Actual Questions and Correct Answers Solved 100%. 
 
When must earnest money and/or deposits accepted by the broker be put into the escrow account? 
 
a. Earnest money does not have to be put into an escrow account. 
b. By the close of business of the next banking day 
c. Within 24 hours 
d. Within 48 hours 
b. By the close of business of the next banking day 
In order to record a deed, it MUST be in writing and: 
 
a. signed by grantee 
b. recite the actual purchase...
-
Real Estate Practice Exam (Missouri)2023
- Exam (elaborations) • 9 pages • 2023
- Available in package deal
-
- $11.49
- + learn more
Real Estate Practice Exam (Missouri)2023 
 
An ad in the local paper was placed by Sarah, a licensed salesperson, on behalf of her seller. The ad reads "Beautiful country lots located on Lake Ivory. Must see! With the purchase of one gorgeous lakeside lot, you will receive a second free. Plus, all purchasers' names will be entered into our lottery sweepstakes! Come soon while lots are still available." Which of the following statements concerning the ad is the most accurate? Answer: The ad is...
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