Free Mississippi Real Estate Practice Exam

Q1.A real estate agent discovers that a property being shown has been listed on the EPA's National Priorities List (Superfund site). The agent should:

• A.Continue showing the property without disclosure since it's publicly available information
• B.Refuse to show the property to any potential buyers
• C.Disclose the environmental condition to potential buyers
• D.Only disclose if specifically asked about environmental issues

Q2.A broker discovers that a property listed for sale contains asbestos. Under federal environmental law, the broker should:

• A.Remove the asbestos before marketing
• B.Disclose the presence of asbestos to potential buyers
• C.List the property only to commercial investors
• D.Refuse to list the property

Q3.Under Mississippi community property laws, which statement is correct regarding property acquired during marriage?

• A.All property acquired during marriage is community property
• B.Mississippi is not a community property state
• C.Only real estate acquired during marriage is community property
• D.Community property applies only to inherited property

Q4.According to Mississippi Real Estate Commission rules, what information must be displayed in a broker's principal office?

• A.Only the broker's license
• B.The broker's license and current fee schedule
• C.The broker's license and all associated salespersons' licenses
• D.The broker's license, salespersons' licenses, and Commission complaint procedures

Q5.A property sold for $425,000. The seller paid a 6% commission split equally between listing and selling brokers. If the listing agent receives 60% of the listing broker's commission, how much did the listing agent earn?

• A.$7,650
• B.$12,750
• C.$15,300
• D.$25,500

Q6.Under Mississippi law, which of the following best describes a homestead exemption?

• A.Property tax reduction for primary residences
• B.Protection of the family home from certain creditors
• C.Zoning protection for residential properties
• D.Insurance coverage for natural disasters

Q7.A property is described as 'the NW 1/4 of the SW 1/4 of Section 16.' This property contains:

• A.160 acres
• B.80 acres
• C.40 acres
• D.20 acres

Q8.A Mississippi broker discovers that their salesperson has been conducting real estate activities while their license was expired for 6 months. What is the broker's potential liability under Mississippi Real Estate Commission rules?

• A.No liability if the broker was unaware of the expiration
• B.Administrative fine only, not exceeding $1,000
• C.Potential license discipline for failure to supervise, regardless of knowledge
• D.Only the salesperson faces discipline, not the broker

Q9.Under Mississippi agency law, when must a broker provide the Mississippi Agency Disclosure form to a prospective client?

• A.At the time of listing or first substantive contact about a specific property
• B.Only when a purchase agreement is signed
• C.Within 3 days of the initial meeting
• D.At closing only

Q10.In Mississippi, when must a broker provide the required agency disclosure to a prospective buyer?

• A.At the first substantial contact about specific property
• B.Before showing any property
• C.Only when entering a buyer agency agreement
• D.At closing

Q11.A Mississippi broker enters into a buyer agency agreement with a client who later purchases property through another broker without terminating the original agreement. The original broker demands compensation from the buyer. What is the most likely outcome?

• A.The buyer must pay both brokers' commissions
• B.The original broker has a valid claim for compensation
• C.The second broker must share commission with the first
• D.No commission is owed to either broker

Q12.A tenant with a mobility disability requests that the landlord install a ramp at the building entrance. Under the FHA, this is an example of:

• A.A reasonable modification — the tenant pays for the physical change
• B.A reasonable accommodation — the landlord must change a policy
• C.An unreasonable request that the landlord may deny
• D.A building code violation that requires a permit

Q13.In Mississippi, a real estate salesperson license must be renewed every:

• A.1 year
• B.2 years
• C.3 years
• D.4 years

Q14.A property is described as 'the NW 1/4 of the SE 1/4 of Section 12, Township 3 North, Range 2 East.' How many acres does this property contain?

• A.20 acres
• B.40 acres
• C.80 acres
• D.160 acres

Q15.How many hours of continuing education must a Mississippi real estate salesperson complete annually to maintain their license?

• A.10 hours
• B.12 hours
• C.15 hours
• D.20 hours