Mississippi Real Estate Salesperson Exam — All Questions

Mississippi's seller property condition disclosure statute applies to a transfer of residential property:

• a.of one to four dwelling units, whether or not a licensee is involved
• b.of any number of dwelling units when a licensee aids the transfer
• c.of one to four dwelling units, when a licensee aids the transfer✓
• d.of one to two dwelling units occupied by the seller as a residence

The disclosure requirement reaches transfers of real property, or a residential stock cooperative, improved with or consisting of not less than one (1) nor more than four (4) dwelling units, when the transfer is executed by, or with the aid of, a duly licensed real estate broker or salesperson. Cite: Miss. Code Ann. sec. 89-1-501(1) (MREC License Law, rev. 7-01-2026).

A Mississippi seller hands the buyer the property condition disclosure statement in person two days AFTER the buyer's offer was executed. The buyer may terminate the offer:

• a.within 24 hours of delivery of the disclosure statement
• b.within three (3) days of delivery in person✓
• c.within five (5) days of delivery in person
• d.only if the disclosure reveals a material physical defect

Where a required disclosure, or a material amendment of one, is delivered after execution of an offer to purchase, the transferee has three (3) days after delivery in person, or five (5) days after delivery by deposit in the mail, to terminate the offer by written notice to the transferor or the transferor's agent. Cite: Miss. Code Ann. sec. 89-1-503(1) (MREC License Law, rev. 7-01-2026).

Who determines the structure and composition of the Mississippi seller's property condition disclosure form?

• a.The Legislature, in the statute
• b.The listing broker, subject to review by the closing attorney
• c.The Mississippi Association of REALTORS, by annual publication
• d.The Mississippi Real Estate Commission✓

The required disclosures must be set forth on a copy of a disclosure form whose structure and composition are determined by the Mississippi Real Estate Commission. Cite: Miss. Code Ann. sec. 89-1-509 (MREC License Law, rev. 7-01-2026).

A Mississippi seller leaves several items on the property condition disclosure statement blank. As to the information required by the disclosure statute, the real estate licensee involved:

• a.is not subject to discipline by any Mississippi licensing authority✓
• b.must complete the missing items from the licensee's own knowledge
• c.must refuse to present offers until the seller completes the form
• d.is jointly liable with the seller for any resulting damages

Where the transferor fails to deliver or fails to complete part of the statement, the prospective transferee is on notice to inquire, and notwithstanding any other law no real estate licensee is subject to discipline or other action by a Mississippi licensing authority over information required to be disclosed, or its delivery. Cite: Miss. Code Ann. secs. 89-1-503(2) and 89-1-523(2) (MREC License Law, rev. 7-01-2026).

Which transfer is expressly EXCLUDED from Mississippi's property condition disclosure requirements?

• a.A sale of a rented single-family house the seller has never occupied
• b.A sale of a duplex by an owner who lives in one of the two units
• c.A sale of vacant land on which no dwelling is located✓
• d.A sale of a three-unit building to a first-time buyer

The statute lists specific exclusions, including transfers pursuant to court order, foreclosure and deed-in-lieu transfers, fiduciary transfers, transfers between co-owners or family members, transfers to or from a governmental entity, and transfers of real property on which no dwelling is located. Cite: Miss. Code Ann. sec. 89-1-501(2)(h) (MREC License Law, rev. 7-01-2026).