1. A Missouri licensee is showing a property that is listed by another company to a prospective buyer. Under the presumption of transaction brokerage, whom does the licensee represent?
A. the buyer
B. the seller
C. both the buyer and seller
D. neither the buyer nor the seller Correct
Explanation
In Missouri, when a licensee is working with a buyer to view property listed by another firm and no written buyer agency agreement exists, the law presumes transaction brokerage (also called non-agency or facilitator status). In this neutral role, the licensee assists both parties with paperwork and communication but owes no fiduciary duties to either and technically represents neither party. This protects the public by clarifying that the licensee is not secretly representing the other side.
2. The primary purpose of Chapter 339 of Missouri law is to
A. provide clear guidelines for licensees about good business practices.
B. settle real estate brokers' commission disputes.
C. protect the public from real estate violations. Correct
D. provide the Missouri Real Estate Commission with the rules to fine or reprimand licensees.
Explanation
Chapter 339, RSMo, is Missouri's real estate license law, and its stated purpose is to protect the public from dishonest or incompetent practitioners through licensing, education, and disciplinary standards. While it contains business practice rules and empowers the Commission to discipline licensees, public protection is the overarching goal. Commission disputes and fines are tools, not the primary purpose.
3. A licensee who transfers his license to another realty firm
A. must file the transfer application with the Missouri Real Estate Commission within 30 days after the license is returned to the Commission.
B. must leave all listings with the former broker.
C. may, by agreement with both brokers, transfer any listings originally obtained by the licensee to the new broker. Correct
D. may begin selling for the new broker as soon as the transfer request has been mailed by priority mail to the Missouri Real Estate Commission.
Explanation
Missouri law allows listings to follow the individual licensee only if both the old and new brokers agree in writing; otherwise, listings generally stay with the original firm. The transfer application must be filed within 10 days, not 30, and the licensee cannot practice until the transfer is approved. This protects sellers from confusion and brokers from losing listings without consent.
4. Before applying for a broker license, a 19-year-old salesperson with 6 months' experience must
A. wait until he is 21 years old to attend a 24-hour broker practice course.
B. obtain a certificate from his managing broker attesting to the 6 months' experience and take the broker examination.
C. obtain an additional 18 months' experience, complete the 48-hour broker pre-examination course, and pass the broker examination. Correct
D. complete an accredited 60-hour broker pre-examination course and pass the broker examination.
Explanation
Missouri requires a minimum age of 18 for a salesperson license but 24 months of active salesperson experience (or equivalent) plus the 48-hour Missouri Broker Pre-Exam course before sitting for the broker exam. The applicant is too young and lacks the required experience. The 60-hour course and 24-hour practice course are not relevant here.
5. A broker appoints a new manager to be in charge of a branch office. In Missouri, which of the following must be done?
A. The manager must avoid engaging in any listing or sale of property.
B. The manager must notify the Missouri Real Estate Commission within 30 days of the date of the management change.
C. The broker must notify the Missouri Real Estate Commission within 10 days of the date of the management change. Correct
D. The broker must give the manager sole responsibility for all brokerage activities conducted at the branch office.
Explanation
Missouri requires the broker to notify the MREC in writing within 10 days of any change in branch manager. The manager may still list and sell; the broker remains ultimately responsible. The 10-day rule ensures the Commission always has current supervisory information.