Free MORES Practice Questions

Question 1

At 10:00 a.m. Thursday, a seller signs a buyer's offer. The offer states that acceptance is effective only when communicated and expires Friday at 5:00 p.m. The seller receives the buyer's revocation at noon; the buyer receives the signed acceptance at 2:00 p.m. What is the legal result?

Accepted Answer

No contract was formed because the revocation became effective before acceptance was communicated

Answer

A contract was formed at 10:00 a.m. when the seller signed the offer

Answer

A contract was formed at 2:00 p.m. because the stated expiration time had not arrived

Answer

The buyer remained bound until Friday because a written offer cannot be revoked before its expiration

Question 2

On Tuesday, a Missouri salesperson takes a buyer's earnest-money check with the signed offer. The seller signs and initials the final changes the following Monday, and the contract sets no different deposit term. Which handling sequence complies with Missouri rules?

Accepted Answer

The salesperson delivers it immediately to the broker; the broker deposits it no later than ten banking days after the final signatures or initials

Answer

The salesperson holds the check until final acceptance; the broker then has ten banking days from receipt to deposit it

Answer

The salesperson immediately delivers the check; the broker deposits it within ten calendar days after receipt

Answer

The salesperson has ten banking days to deliver the check; the broker deposits it immediately upon receipt

Question 3

During a disclosed dual agency with written consent, the seller asks the licensee to keep several facts from the buyer. Which fact may not be withheld merely by labeling it confidential?

Accepted Answer

A known concealed foundation failure that materially affects the property

Answer

The lowest price the seller privately said would be acceptable during negotiations with this buyer

Answer

The seller's urgent job-transfer reason for moving

Answer

The seller's willingness to consider alternative financing terms

Question 4

In a restaurant lease, the tenant installs a walk-in cooler for business use. It is bolted and wired, the lease is silent, and removal before expiration would cause no substantial damage; the tenant will repair the bolt holes and wiring connection. Which conclusion is most accurate?

Accepted Answer

The cooler is a trade fixture that the tenant may remove timely if material damage is repaired

Answer

The cooler became the landlord's fixture when it was bolted down and cannot be removed without the landlord's consent

Answer

The cooler remains removable personal property solely because the tenant bought it, so timing and repair obligations do not matter

Answer

The cooler is a trade fixture, but removal must wait until the lease has ended and possession has been returned

Question 5

Minutes before closing, a salesperson receives changed wiring instructions from a look-alike title-company domain. The email demands secrecy and immediate transfer to a different bank. What should the salesperson do first?

Accepted Answer

Pause the transfer and verify the instructions through a telephone number previously known to be valid for the title company

Answer

Call the telephone number in the new email signature and proceed if the caller confirms the change

Answer

Compare the payee name with the closing disclosure and proceed if the name matches despite the new bank

Answer

Send a small test wire and transfer the remaining balance after the recipient confirms receipt

Question 6

The manager of a no-pet apartment building receives an assistance-animal request from a qualified applicant. The disability is not obvious, but reliable information establishes both the disability and the disability-related need; the animal poses no direct threat and would not cause substantial physical damage. What action complies with fair housing requirements?

Accepted Answer

Approve the reasonable accommodation without a pet fee or pet deposit, while retaining the right to charge for actual damage

Answer

Deny the request because only individually trained service dogs receive housing-law protection

Answer

Require the applicant's complete medical records and a detailed diagnosis before considering the request

Answer

Approve only if the applicant pays the standard pet deposit, signs the ordinary pet agreement, and accepts every restriction imposed on household pets

Question 7

A Missouri seller has accepted a contract with a financing contingency. Later that day, a second buyer submits a written backup offer expiring that evening. What does the listing salesperson's duty require?

Accepted Answer

The salesperson need not seek additional offers, but must timely present this written offer

Answer

Stop both soliciting and presenting additional offers once the seller has accepted any contract

Answer

Notify the seller only that another offer exists; the full terms cannot be presented until the first contract terminates

Answer

Continue actively seeking additional offers until the financing contingency is removed

Question 8

The contract price is $450,000. An appraisal contingency lets the buyer terminate by written notice within three days after receiving an appraisal below the purchase price; otherwise, the contingency is waived. The appraisal is $435,000, and the buyer can cover the additional cash. Which explanation accurately describes the buyer's position?

Accepted Answer

The buyer may give timely termination notice, attempt to renegotiate, or proceed with added cash; the clause does not require cancellation

Answer

The agreement ended automatically when the appraisal came in below the purchase price

Answer

The seller must reduce the price to $435,000 because the appraisal controls the contract price

Answer

All transaction activity must stop, and neither party may proceed until a second appraisal confirms or rejects the first appraiser's opinion

Question 9

Four competing brokerage owners set a 6% floor for residential listing commissions. They also divide a new subdivision into quadrants and agree not to solicit listings in one another's territories. Which pair of antitrust violations has occurred?

Accepted Answer

It combines price fixing with market allocation, both antitrust violations

Answer

The arrangement is lawful if the firms keep it oral and each seller later signs a separate listing contract

Answer

It is price fixing only; dividing territory is permissible because each firm still competes within its assigned quadrant

Answer

It is market allocation only; a 6% commission floor is lawful because percentage commissions are customary

Question 10

Purchase price: $360,000. Appraised value: $340,000. Requested conventional loan: $280,000. The lender uses the lower of price or appraised value and generally requires private mortgage insurance (PMI) above 80% LTV. Which conclusion is correct?

Accepted Answer

82.4% LTV, so private mortgage insurance is generally required

Answer

77.8% LTV, so private mortgage insurance is generally not required

Answer

80.0% LTV, because the lender averages price and appraised value

Answer

82.4% LTV, but private mortgage insurance is generally unnecessary because the contract price exceeds the appraisal

Free MORES Practice Questions

Domain 1: Property Ownership 10% of exam

Question 1

Domain 4: Financing 10% of exam

Question 2

Domain 5: Contracts 19% of exam

Question 3

Question 4

Domain 6: Agency 13% of exam

Question 5

Domain 8: Property Management 3% of exam

Question 6

Domain 10: Practice of Real Estate 12% of exam

Question 7

Question 8

Domain 15: Business Conduct and Practices

Question 9

Question 10

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