Mississippi License Law

Each member of the Mississippi REal Estate Commission shall serve ____ years

• Two

• Four

• Five

• Six

When is a licensee required to pay over to their responsible broker any deposits or earnest money received?

• Within 24 hrs

• Within 48 hrs

• As soon as they next see the responsible broker in person

• Immediately upon receipt therof

Text messages between an agent and a prospective buyer about a property for sale are not considered to be advertisements

• True

• False

The broker or the brokerage firm must be identified by using the same size or larger print as that of a licensee or a team in all advertising

• True

• False

In order to advertise a property , the broker MUST

• Have verbal permission from the owners

• Have written permission from the owner

• Use two signs in each yard

• All of the above

The commission may, upon its own motion

• Fine licensees for violations

• Imprison licensees for up to one month for violations

• Revoke a license without a hearing

• Investigate a licensee

Renewal fee for a branch office for a two year period is

• $100

• $120

• $140

• $150

The Licence Law shall apply to any person who performs acts such as leasing and selling with reference to property owned by themselves (FSBO)

• TRUE

• FALSE

Application, examination, and one year's use of a license for a salesperson is

• $100

• $110

• $135

• $150

Brokers shall retain readily available and properly indexed records, including bank account records for a period of _____ years

• Three

• Four

• Five

• None of the above