Ms Real Estate Mississippi Practice Exam Questions with accurate answers. Graded A+

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Ms Real Estate Mississippi Practice Exam Questions with accurate answers. Graded A+ A developer may not sell, offer, or dispose of a timeshare interest unless all necessary registration require... ments are completed and approved by: -✔✔-the Real Estate Commission Which of the following has the duty of supervising and controlling all aspects of the offering of a timeshare plan? -✔✔-the developer If the broker finds out that a licensee licensed under that broker has been operating independently or through some other broker, the responsible broker must notify the Commission: -✔✔-immediately All amendments, supplements and changes to the public offering statement shall be filed with and approved by the: -✔✔-Commission All brokers must maintain an office and: -✔✔-his/her license must be displayed in that office All timeshare plans shall maintain a ___________ purchaser to accommodation ratio. -✔✔-one-toone How long must an applicant who has failed the salesperson's exam twice wait before being allowed to re-take the exam again? -✔✔-3 months from the date of the last testing A licensee who offers property in which he/she is the owner as being for sale or exchange must state in all advertising, as well as on any signs: -✔✔-that he/she is licensed in real estate, unless the licensee lists his/her property with a licensed real estate broker Who is the person to whom the agent owes a fiduciary duty? -✔✔-the client A temporary license shall be valid for ___ following the first day of the month after its issuance. -✔✔- one year How many days notice will a person be given of a Commission hearing on his/her behalf? -✔✔-15 days Following an audit by an independent CPA, the exchange program should submit a report of the percentage of confirmed reservations: -✔✔-annually The method purchasers are required to utilize in order to reserve the use and occupancy of accommodations in a timeshare plan is known as the: -✔✔-reservation system A licensee may transfer his/her license from the active to the inactive status by notifying the ____________, returning license to the Commission, and paying the appropriate fee. -✔✔- Commission in writing All brokers are responsible for disclosing: -✔✔-their agency relationship in a real estate transaction Real estate brokers are required to maintain copies of all documents pertaining to a real estate transaction for: -✔✔-three years The Mississippi license law does not apply to the activities of all of the following EXCEPT: -✔✔-* A person selling a home belonging to his/her parents Banks chartered under the laws of Mississippi or the United States Licensees under the Small Loan Regulatory Law and the Small Loan Privilege Tax Law Mortgagees approved by the Federal Housing Administrat [Show More]

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