Missouri Real Estate Practice Exam

10 sample questions, with answers explained

Every question above with its correct answer and the reasoning behind it. Read the explanations for the ones you answered correctly too. A lucky guess and knowing the rule look identical on a score report. These are sample questions from our larger bank.

1. 1. A Missouri salesperson receives money in a transaction in which the salesperson is engaged. What is the immediate handling duty?

   • ADeposit it into the salesperson's operating account
   • BDeliver it immediately to the affiliated brokercorrect
   • CUse it for photography and replace it after closing
   • DHold it personally until the next license renewal

   Why: 20 CSR 2250-8.120 requires immediate delivery to the holding broker. Personal custody for office expenses or later replacement does not meet that duty.

   Practice of real estate

2. 2. A Missouri broker supervises licensees on both sides and learns confidential information about a party. What role consequence does Missouri law identify?

   • AThe broker becomes a dual agent or transaction broker as described in the rulecorrect
   • BThe broker becomes an attorney automatically
   • CThe transaction becomes unregulated
   • DEvery client loses all confidentiality

   Why: The broker becomes a dual agent or transaction broker as described in the rule. 20 CSR 2250-8.020(5) distinguishes appointment alone from the specified supervisory involvement.

   Agency

3. 3. A Missouri licensee requests CE credit for a course that was not preapproved. How early must the credit application be filed under Missouri law?

   • AOnly after the license expires
   • BOn the day of renewal
   • CWithin 10 days after renewal
   • DAt least 90 days before renewalcorrect

   Why: 20 CSR 2250-10.100(5) requires non-preapproved CE credit applications at least 90 days before renewal. A non-preapproved course needs the stated advance review window.

   Practice of real estate

4. 4. A Missouri broker will act as a buyer's single agent and begin licensed activities beyond ministerial acts. When is the written buyer agency agreement required?

   • ABefore those activities begincorrect
   • BOnly after the buyer requests financing
   • COnly when the broker submits a closing statement
   • DOnly after the seller accepts an offer

   Why: Current RSMo 339.780 requires the agreement before licensed acts other than ministerial acts. The 2025 amendment removed the older allowance to enter it while already acting.

   Agency

5. 5. A Missouri licensee manages rentals for an owner and assumes the management agreement alone authorizes representing that owner in a sale. What does the management rule require?

   • AThe rent collection history automatically creates a sales listing
   • BThe tenant may authorize the owner's sales representation
   • CA management agreement always includes unlimited sales authority
   • DCompliance with the separate brokerage service agreement requirements for sale representationcorrect

   Why: 20 CSR 2250-8.200(2) requires a licensee managing rentals to comply with 20 CSR 2250-8.090 before acting as an agent in the sale or exchange. Authority to manage a rental does not by itself satisfy the separate sales brokerage agreement requirements.

   Practice of real estate

6. 6. May a Missouri buyer agency agreement be transferred to another broker solely because both brokers approve?

   • AYes, broker approval always replaces the buyer's consent
   • BYes, if the buyer has not yet made an offer
   • CYes, if the new broker uses the same office software
   • DNo, all original parties must expressly consent in writingcorrect

   Why: 20 CSR 2250-8.090 requires express written consent of all original parties for transfer of a buyer or tenant agency agreement. The buyer's lack of an offer does not create an exception.

   Contracts

7. 7. A Missouri contract contains an as-is clause. What effect does that have on the licensee's duties under RSMo 339.100.2(2)?

   • AIt does not relieve the licensee of those dutiescorrect
   • BIt permits suppression of every known material fact
   • CIt eliminates every licensing rule for that transaction
   • DIt transfers every disclosure duty to the lender

   Why: 20 CSR 2250-8.110 expressly says an as-is clause does not relieve the licensee of the referenced statutory duties. The clause is not a license to misrepresent or conceal material facts.

   Property disclosures

8. 8. A Missouri broker wants to transfer a listing agreement to a different broker. What consent is required?

   • AOnly notice to the owner after the transfer
   • BExpress written consent of every original partycorrect
   • COnly the receiving broker's signature
   • DOnly the buyer's lender's approval

   Why: 20 CSR 2250-8.090 requires all original parties' express written consent to assignment, sale or transfer. The agreement is not a contract that the two brokers alone can move between themselves.

   Contracts

9. 9. A Missouri broker changes a branch office's managing licensee. When must written notice reach the Commission under the branch rule?

   • AOnly with the next biennial renewal
   • BWithin 3 days after the change
   • CWithin 30 days after the change
   • DWithin 10 days after the changecorrect

   Why: 20 CSR 2250-8.030 requires written notice within 10 days after opening a branch or changing its address or managing licensee. Renewal is not the reporting deadline for the change.

   Practice of real estate

10. 10. To whom may a Missouri trust-account commission check be payable under the stated rule?

    • AThe entitled licensee or the firm's general operating accountcorrect
    • BAny unlicensed employee chosen by the bookkeeper
    • CA different client whose purchase needs additional funds
    • DThe broker's landlord regardless of the commission recipient

    Why: 20 CSR 2250-8.120 specifies the licensee owed the commission or the firm operating account. A commission check is not a general authorization to pay unrelated obligations from trust.

    Practice of real estate