A Missouri salesperson applicant asks about a Missouri salesperson’s association with a broker terminates and the licensee wants to transfer or change status. What is the best answer?
Correct Answer
D) The broker must notify MREC and return the license within 72 hours; after the license is surrendered, the licensee has six months to transfer to another broker or change license status before MREP/requalification consequences apply
20 CSR 2250-4.050 requires broker notice/return within 72 hours after termination and gives the surrendered licensee six months to transfer or change status, with MREP and later requalification consequences if not done. Source basis: Missouri Secretary of State, 20 CSR 2250-4.050, current CSR PDF checked 2026-04-30: broker-salesperson/salesperson licenses issue only to persons associated with a licensed broker; a licensee cannot be licensed with more than one broker at the same time; brokers must notify the commission within 72 hours after termination; transfer/change status must occur within six months or MREP/requalification rules apply; a properly completed transfer between brokers is effective when mailed by certified, registered, or overnight delivery if all required materials are included.
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Related Topics & Key Terms
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Related Concepts
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Advertising regulations govern how real estate licensees may market properties and services, requiring truthful, non-deceptive advertising that includes proper identification of the brokerage.
Antitrust violations in real estate occur when competing brokerages or agents engage in practices that restrain trade, reduce competition, or harm consumers through collusion. These violations are governed by the Sherman Antitrust Act and can result in severe penalties.
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In Wyoming real estate practice, an associate broker or salesperson is not associated with a responsible broker at renewal. What should the licensee remember?
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A responsible broker in Wyoming asks about a nonresident applicant provides home-state evidence. Which answer follows Wyoming law?
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