Free Missouri Math Practice Test — LicenseIQ

Question 1

Under RSMo 339.150 as amended in 2025, a broker may pay a salesperson's commission directly to:

Accepted Answer

The statute allows payment to an entity owned by the licensee alone, by the licensee and spouse under conditions, or by the licensee with other licensees at the same broker. Ownership limits matter, so 'any LLC' is wrong.

Question 2

A commercial space of 2,400 rentable square feet is quoted at $27 per square foot per year. What is the monthly rent?

Accepted Answer

Annual rent = 2,400 x $27 = $64,800; monthly = $64,800 / 12 = $5,400. Commercial rates are quoted per square foot per YEAR.

Question 3

Annual taxes are $3,650. Using a 365-day year, what is the daily proration amount?

Accepted Answer

$3,650 / 365 = $10 per day. (The course's default convention is a 360-day year; this question specifies 365.)

Question 4

A broker operates under a franchise trade name. Commission rules require the broker to:

Accepted Answer

20 CSR 2250-8.080 requires a copy of the franchise agreement, plus a clear statement in documents if the franchisor has no legal liability.

Question 5

A home sells for $520,000 with a 5% commission. The listing broker pays 2.5% to the buyer's broker and splits the listing side 60/40 with the listing salesperson (salesperson gets 60%). How much does the listing salesperson earn?

Accepted Answer

Total = $520,000 x 0.05 = $26,000. Buyer broker gets 2.5% = $13,000, leaving $13,000 for the listing side. Salesperson = $13,000 x 0.60 = $7,800.

Question 6

Under the Code of Ethics, commission disputes between REALTORS associated with different firms are generally resolved through:

Accepted Answer

Article 17 requires REALTORS to mediate or arbitrate contractual and specific non-contractual disputes with other REALTORS through the association.

Question 7

Other than the public member, each Missouri Real Estate Commission member must have at least how much experience before appointment?

Accepted Answer

RSMo 339.120 requires the non-public members to have at least ten years of experience as a real estate broker. Salesperson experience does not count toward that requirement.

Question 8

According to the Commission, a licensee renewing in the 2026-2028 period who takes only one core course must take a course on:

Accepted Answer

The Commission's website states the single required core course for 2026-2028 is Fair Housing. Agency is the single required core course for the 2028-2030 period.

Question 9

When a salesperson leaves a brokerage, the broker must notify the Commission and return the license within:

Accepted Answer

20 CSR 2250-4.050 requires the broker to notify the Commission and return the license within 72 hours and give the licensee a dated, timed receipt. Ten days is the period for name and address changes.

Question 10

A listing where the seller may sell themselves without owing commission, but only the listing broker among agents is protected, is:

Accepted Answer

In an exclusive agency listing, the seller pays no commission on a self-sale, but the listing broker is protected if any broker sells it. (Reclassified to section 6 / CORE.)

Question 11

To stop an unlicensed person from brokering real estate, the Commission may:

Accepted Answer

RSMo 339.180 authorizes injunctions on the Commission's application, in addition to other penalties.

Question 12

A lender offers a 95% LTV loan. The buyer has $18,000 for the down payment. What is the maximum purchase price?

Accepted Answer

At 95% LTV the down payment is 5% of price. Price = $18,000 / 0.05 = $360,000; loan = $342,000.

Question 13

The maximum civil penalty the Commission may impose per offense is:

Accepted Answer

RSMo 339.100.3 authorizes a civil penalty of up to $2,500 per offense.

Question 14

A buyer purchases a $300,000 home with a $60,000 down payment. What is the loan-to-value (LTV) ratio?

Accepted Answer

Loan = $300,000 - $60,000 = $240,000; $240,000 / $300,000 = 80% LTV. (20% is the down payment percentage.)

Question 15

Under an open listing, the seller owes a commission to:

Accepted Answer

Open listings are non-exclusive; only the procuring broker is paid, and the owner owes nothing for a self-sale.

Question 16

A broker opens a branch office. The Commission must be notified in writing within:

Accepted Answer

20 CSR 2250-8.030 requires written notice within 10 days after opening a branch or changing its address or manager.

Question 17

When the Commission refuses to license an applicant, it must:

Accepted Answer

RSMo 339.080 requires written notice by registered or certified mail stating reasons and advising of the right to file with the AHC.

Question 18

When competing brokerages agree to charge the same commission rate, they commit:

Accepted Answer

Agreeing on commissions among competitors is illegal price fixing under the Sherman Antitrust Act; commissions must be set independently and are always negotiable.

Question 19

A buyer contracts to buy a home for $300,000, but it appraises at $290,000. The lender offers 75% LTV. What is the maximum loan?

Accepted Answer

LTV is applied to the LESSER of price or appraised value: $290,000 x 0.75 = $217,500. Using the $300,000 price ($225,000) is the common mistake.

Question 20

A licensee receives a written request for information from the Commission. Failing to respond in writing within how many days is grounds for discipline?

Accepted Answer

20 CSR 2250-8.170 makes failure to respond in writing within 30 days of the Commission's written request a ground for discipline.

Question 21

On the $20,000 commission above, the listing broker keeps 50% and pays 50% to the buyer's broker. How much does the buyer's broker receive?

Accepted Answer

$20,000 x 0.50 = $10,000 to the buyer's broker.

Question 22

A salesperson earns $6,000 on a $150,000 sale. What was the commission rate?

Accepted Answer

Rate = commission / sale price = $6,000 / $150,000 = 0.04 = 4%.

Question 23

A lender approves a $276,000 loan and the buyer wants to keep an 80% LTV. What is the maximum purchase price?

Accepted Answer

Purchase price = loan / LTV = $276,000 / 0.80 = $345,000. ($220,800 wrongly multiplies by 0.80.)

Question 24

A buyer purchases a $275,000 home with an 80% LTV loan and pays 2.5 discount points. What do the points cost?

Accepted Answer

Loan = $275,000 x 0.80 = $220,000; points = $220,000 x 0.025 = $5,500. ($6,875 wrongly applies points to the price.)

Question 25

Annual taxes of $5,400 are paid in arrears at year-end. Closing is June 15, and the seller owns the day of closing. Using a 360-day year, what is the proration?

Accepted Answer

Daily = $5,400 / 360 = $15. Seller owned Jan 1-Jun 15 = 5 months + 15 days = 165 days. 165 x $15 = $2,475. Because the buyer will pay the whole bill later, the seller is debited and the buyer credited.

Missouri real estate math practice test

1. Under RSMo 339.150 as amended in 2025, a broker may pay a salesperson's commission directly to:

2. A commercial space of 2,400 rentable square feet is quoted at $27 per square foot per year. What is the monthly rent?

3. Annual taxes are $3,650. Using a 365-day year, what is the daily proration amount?

4. A broker operates under a franchise trade name. Commission rules require the broker to:

5. A home sells for $520,000 with a 5% commission. The listing broker pays 2.5% to the buyer's broker and splits the listing side 60/40 with the listing salesperson (salesperson gets 60%). How much does the listing salesperson earn?

6. Under the Code of Ethics, commission disputes between REALTORS associated with different firms are generally resolved through:

7. Other than the public member, each Missouri Real Estate Commission member must have at least how much experience before appointment?

8. According to the Commission, a licensee renewing in the 2026-2028 period who takes only one core course must take a course on:

9. When a salesperson leaves a brokerage, the broker must notify the Commission and return the license within:

10. A listing where the seller may sell themselves without owing commission, but only the listing broker among agents is protected, is:

11. To stop an unlicensed person from brokering real estate, the Commission may:

12. A lender offers a 95% LTV loan. The buyer has $18,000 for the down payment. What is the maximum purchase price?

13. The maximum civil penalty the Commission may impose per offense is:

14. A buyer purchases a $300,000 home with a $60,000 down payment. What is the loan-to-value (LTV) ratio?

15. Under an open listing, the seller owes a commission to:

16. A broker opens a branch office. The Commission must be notified in writing within:

17. When the Commission refuses to license an applicant, it must:

18. When competing brokerages agree to charge the same commission rate, they commit:

19. A buyer contracts to buy a home for $300,000, but it appraises at $290,000. The lender offers 75% LTV. What is the maximum loan?

20. A licensee receives a written request for information from the Commission. Failing to respond in writing within how many days is grounds for discipline?

21. On the $20,000 commission above, the listing broker keeps 50% and pays 50% to the buyer's broker. How much does the buyer's broker receive?

22. A salesperson earns $6,000 on a $150,000 sale. What was the commission rate?

23. A lender approves a $276,000 loan and the buyer wants to keep an 80% LTV. What is the maximum purchase price?

24. A buyer purchases a $275,000 home with an 80% LTV loan and pays 2.5 discount points. What do the points cost?

25. Annual taxes of $5,400 are paid in arrears at year-end. Closing is June 15, and the seller owns the day of closing. Using a 360-day year, what is the proration?

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