Patricia holds an active Missouri salesperson license affiliated with Riverfront Realty. She decides to take a sabbatical from real estate and wants to keep her license without being affiliated with a broker. She contacts MREC and asks about placing her license on inactive status. Which of the following correctly describes the effect of inactive status on Patricia's license under Missouri law?
Correct Answer
B) Patricia's license is placed on inactive status, and she may not engage in any licensed real estate activity until she reactivates by affiliating with a sponsoring broker
Under RSMo Chapter 339 and MREC rules, a Missouri salesperson may place their license on inactive status, which suspends the right to perform any licensed real estate activity. While on inactive status, the licensee cannot show property, negotiate contracts, collect compensation, or perform any act requiring a license. To reactivate, the licensee must affiliate with a licensed sponsoring broker and complete any applicable continuing education requirements. The license does not expire solely due to inactive status as long as renewal fees are paid.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Florida brokers are required to maintain transaction records and escrow records for a minimum of five years.
A tie-in arrangement is an illegal antitrust practice in which a seller conditions the purchase of one product or service on the buyer's agreement to purchase a separate product or service.
A trust account, also called an escrow account, is a separate bank account maintained by a broker to hold funds belonging to others, such as earnest money deposits, security deposits, or other client funds.
More Practice Of Real Estate Questions
In Wyoming real estate practice, an associate broker or salesperson is not associated with a responsible broker at renewal. What should the licensee remember?
In Wyoming real estate practice, a first-time salesperson applicant completes coursework. What should the licensee remember?
A Wyoming licensee is reviewing an out-of-state salesperson applicant prepares for testing. What is the best answer?
In Wyoming real estate practice, a salesperson applicant age is reviewed. What should the licensee remember?
A responsible broker in Wyoming asks about a nonresident applicant provides home-state evidence. Which answer follows Wyoming law?
- → A responsible broker in Wyoming asks about a first-time salesperson applicant prepares for Wyoming-specific licensing. Which answer follows Wyoming law?
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- → A responsible broker in Wyoming asks about the Commission director receives a complaint about real estate practice. Which answer follows Wyoming law?
- → For the Wyoming salesperson state portion, a first-time Wyoming salesperson applicant starts the application process. Which statement is correct?
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- → For the Wyoming salesperson state portion, a licensee asks how long Wyoming renewal periods are. Which statement is correct?
- → Which Wyoming rule applies when a licensee does not timely submit the complete renewal application, proof of CE, and renewal fees?
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- → A Wyoming licensee is reviewing a first-time salesperson applicant asks which prelicense courses are required. What is the best answer?
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