missouri portion of real estate exam Flashcards

missouri portion of real estate exam Flashcards broker can keep how much of his own money in accoun1000 a none licenses practincg real estate is gulty of whatcalld b misdemeanor how many hours of continuring education do licenee need?12/ 3 requird rest elective must benifit public what do people have to do to have a inactive licensemust apply and continue to reapply every two years and pay fees. no continue education classes requieed what is the purpose of chaper 339protec the public from sales persons and brokers a branch office must be overseen by what broer salesperson broker parner or borker officer/associate what can a broker do with escrow accounts pay people with consent of the buyer or the seller can not use for anthing els like inspections a real estate can not work with outworkers permit from mrc.mrec can subpoena whatbuizz accounts and recontds what do brokers not need to keeptitle insurence policys do all discolouseres have to be in writing yes were do commision agreemnet show up in contracts in the listing agreement NEVER in the sales contact. and will show on hud can a brokers collect commision from net listings?not net lising commisiion are illegal in mo.if one fails to take continuing ed classes what msut they dotake the practice course and pay a 50 fee per onth late up to 200 max mo will not here what kind of complaints commisiion if someone has violatoin from court they could.., hace class b misdimenour or borth civil and crimial penalties may be applied how long of notice must buiz give mrec if changeing name or addres 10 days to reactivate a sale license what must they do retake practice course andapply with in 6 onths.ahcadminstractive hearing commisiion. refused applicatnt can appeal here if one does not finish contunie3d education classes what happens 50 fee per month not compledted 200 max and must retake the missouri practice class if sales person is terminated when does broker have to notify mrec.72 hours where should loan balance info and tax be obatined fromlender and the county assessors office.when must escrow money by deposited10 days after contact is made all money belonging to other to be put in escrow has to be deposited..10 days mo real estate commission can fine how much for violations 2500 per cioloation with a maximum of 25000 for contunued violation a none license selling realestate is what class b misdemeanor how long must broker obtain records like escow buss contracs ets

• years

pro managemtn agreements must include what termination of agree and terms and conditions.

someone obtaining a lifense that is not a resident of mo must pass mo section of test take 24 hour practice course brokers same but have 24 ro 30 months expericecel dispute escrow moneymust hold until recieves relies from parties or court. is neither goes to court in 60 days can give oney to injured party a inactice person license is held by who the mrc.if no resalution is made on escrow money what do brokers do send money to state treasury broker sales personacts as sale person for anoher broker send own license to mrec than can send broker sales person to broker maynot have licenses under hi but is a manager a broker the chosses a fictitious name must rester with sec of state and send copy to mrc.mrec issues what for recrodssubpoenas for all reconrds relevant to complaint use of standerd form is whathules verse criger.do agncy relatioship contracts have a extension no hae a expiration date no automatic extensions.where must brokers escow accounts bea checking accouint when r renewal date for brokers and sales per solebrokers june 30th and sales sep 30 chapter 339 is also called whatlicense law property managment trust account is used for holding current and adcanced rents. broker can pay bills from account can a broker manager more than one office no when do real estate agents and brokers need to renew license broker june 30 and sales sep 30th can a person take continu ed classes out of the sateyes if mrecc accepts them a none licenseing is practincing real estate what can mrec do do a restraining order what does a inactive have to do to practice again take real estsae practice class, apply in 6 months what is the hearing procedure with real estate violationsmerc investigates than send it to the ahc adminstractive hearing commison which the n recommends punishment then the merc then the merc will decide on the punishemtn if person is den died license they hacve the right to file a complaint with the ahc do all disclosers about being a license have to be in wrting or just disclosed must be in writing.when do we give ar esidentail broker disclousere formreceiving any personal or financial info