Missouri License Law
In Missouri, a salesperson who receives an earnest money check from a buyer should:
AKeep it until closing
BDeliver it promptly to their employing broker's trust account✓ Correct
CDeposit it in their personal account for safekeeping
DHold it until MREC approves the transaction
Explanation
Earnest money received by a Missouri salesperson must be promptly delivered to their employing broker for deposit into the broker's trust account. Salespersons cannot hold trust funds independently.
Related Missouri Missouri License Law Questions
- Which agency regulates real estate licensees in Missouri?
- A Missouri salesperson who sells a property and earns a commission cannot be paid by which of the following?
- MREC may place a Missouri licensee on probation as a disciplinary measure. During probation, the licensee:
- A Missouri real estate licensee who violates a cease-and-desist order issued by MREC may face:
- How many hours of pre-license education are required for a Missouri real estate salesperson license?
- Which body has the authority to revoke a Missouri real estate license?
- Under Missouri law, which of the following is required before a real estate licensee can advertise online?
- A Missouri real estate licensee who fails to disclose a known material defect to a buyer may be subject to:
Practice More Missouri Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Missouri Quiz →