Mississippi Real Estate Salesperson Exam — All Questions

Mississippi requires a licensee to provide the agency disclosure describing who the broker represents:

• a.At the first substantive meeting concerning a specific property, before confidential information is exchanged✓
• b.Only after the closing
• c.Within 30 days after a listing expires
• d.Only when the buyer requests it

Mississippi requires the licensee to provide the agency disclosure form describing the brokerage relationship at first substantive contact concerning a specific property, before confidential information is exchanged. Early disclosure lets a buyer or seller understand whether the licensee represents a party before sharing negotiating information. The disclosure identifies whether the licensee is a seller's agent, buyer's agent, or dual agent.

Under Mississippi law, a broker may act as a disclosed dual agent representing both the seller and the buyer only if:

• a.The sale price is under a statutory ceiling
• b.Each party is represented by a different attorney
• c.The property is agricultural land
• d.Both parties give informed written consent to the dual agency✓

Mississippi permits disclosed dual agency, in which the same broker represents both the seller and the buyer, only with the informed written consent of both parties. Because a dual agent cannot fully advocate for either side, the licensee must not disclose one party's confidential information, such as the highest price a buyer will pay, to the other.

In a Mississippi single agency, when must the broker give the MREC Agency Disclosure Form to the party the broker WILL represent?

• a.Before the agreement for representation is entered into✓
• b.At the first substantive meeting with that party
• c.Before the party signs an offer to purchase the property
• d.Within three days after the representation agreement is signed

In a single agency the broker must disclose in writing to the party for whom the broker is an agent that the broker is that party's agent, and the written disclosure must be made before the time an agreement for representation is entered into, on an MREC Agency Disclosure Form. Cite: Miss. Admin. Code Title 30, Part 1601, Rule 4.3(A) (MREC Rules and Regulations, rev. 02-21-2025).

A Mississippi listing broker meets an unrepresented buyer at a showing. The broker must deliver the MREC Agency Disclosure Form to that buyer:

• a.before the listing agreement is signed by the seller
• b.only if the buyer later decides to write an offer
• c.at the time of the first substantive meeting with the buyer✓
• d.at closing, along with the rest of the transaction file

In a single agency the broker must disclose in writing to the party for whom the broker is not an agent that the broker represents another party, and that written disclosure is made at the time of the first substantive meeting with that party. Cite: Miss. Admin. Code Title 30, Part 1601, Rule 4.3(B) (MREC Rules and Regulations, rev. 02-21-2025).

How does a Mississippi seller give the initial written consent to disclosed dual agency?

• a.By initialing the listing agreement where dual agency is described
• b.By signing the Consent To Dual Agency portion of MREC Form A✓
• c.By signing a separate notarized consent filed with the Commission
• d.By oral consent that the broker records in the transaction file

Informed written consent is timely when the seller, at the time the representation agreement is entered into, gives written consent by signing the Consent To Dual Agency portion of MREC Form A; the buyer does the same when the buyer's representation agreement is made. Cite: Miss. Admin. Code Title 30, Part 1601, Rule 4.3(B)(1) and (2) (MREC Rules and Regulations, rev. 02-21-2025).

In a Mississippi dual agency, the MREC Dual Agency Confirmation Form signed by the buyer must be:

• a.filed with the Commission within ten days of the closing
• b.retained by the broker but not shown to the seller
• c.given to the seller only if the offer is actually accepted
• d.attached to the offer to purchase, whatever the offer's outcome✓

The broker must confirm the buyer's understanding and consent before the buyer signs an offer, and confirm the seller's before presenting it; the buyer signs the MREC Dual Agency Confirmation Form, which is attached to the offer to purchase and remains attached regardless of the outcome of the offer. Cite: Miss. Admin. Code Title 30, Part 1601, Rule 4.3(B)(3) (MREC Rules and Regulations, rev. 02-21-2025).

Midway through a Mississippi transaction the agency relationship between the parties changes. What must happen?

• a.New disclosure forms must be acknowledged by all parties involved✓
• b.The original forms must be amended in ink and initialed by the broker
• c.The broker must notify the Commission of the change within ten days
• d.Nothing; the forms given at the first substantive meeting still govern

In the event the agency relationship changes between the parties to a real estate transaction, new disclosure forms will be acknowledged by all parties involved. Cite: Miss. Admin. Code Title 30, Part 1601, Rule 4.3(C) (MREC Rules and Regulations, rev. 02-21-2025).

A Mississippi buyer receives the agency disclosure form but refuses to sign the acknowledgement. The broker must:

• a.stop working with that buyer until the form is signed
• b.have a witness sign the form in the buyer's place
• c.annotate the form with the declination statement the rule prescribes✓
• d.send the form to the buyer by certified mail and keep the receipt

Where a party receiving a disclosure form asks not to sign the acknowledgement, the broker annotates the form with the prescribed statement that a copy was delivered on a stated date and that the recipient declined to acknowledge receipt. Cite: Miss. Admin. Code Title 30, Part 1601, Rule 4.3(E) (MREC Rules and Regulations, rev. 02-21-2025).

A Mississippi brokerage wants to print the MREC agency disclosure form on its own letterhead and reorder the paragraphs. The brokerage may:

• a.do both, provided the broker keeps a signed copy in the file
• b.duplicate the form in content and size, but not alter it✓
• c.alter the form as long as the Commission approves it in advance
• d.reorder the content if the brokerage's attorney reviews the result

The Commission-mandated disclosure form may be duplicated in content and size but not altered. Cite: Miss. Admin. Code Title 30, Part 1601, Rule 4.3(G) (MREC Rules and Regulations, rev. 02-21-2025).

Mississippi's agency disclosure rule contains an exception for transactions with:

• a.any buyer who is already represented by legal counsel
• b.any seller who has held the property for more than ten years
• c.any party purchasing property for investment rather than residence
• d.corporations, partnerships, trusts and governmental entities✓

A licensee need not comply with the disclosure requirements when engaged in transactions with corporations, nonprofit or professional corporations, professional associations, limited liability companies, partnerships, real estate investment trusts, business trusts, charitable or family trusts, or governmental entities; the exception does not displace the common law of agency. Cite: Miss. Admin. Code Title 30, Part 1601, Rule 4.4 (MREC Rules and Regulations, rev. 02-21-2025).

Mississippi statute defines a "brokerage agreement" as:

• a.any oral or written understanding that a broker will show property
• b.the listing contract between a seller and a licensed broker only
• c.a specific written agreement establishing a brokerage relationship✓
• d.the cooperation agreement between the listing and selling brokers

A brokerage agreement is a specific written agreement between a real estate broker and a consumer that establishes a brokerage relationship and states the terms and conditions of the brokerage services, including any compensation to be paid to or through the company. Cite: Miss. Code Ann. sec. 73-35-3(4) (MREC License Law, rev. 7-01-2026).

Under the Mississippi brokerage agreement law effective July 1, 2026, when is a written brokerage agreement with a prospective buyer required?

• a.Before submitting an offer on a property for compensation✓
• b.Before the licensee may show the buyer any property at all
• c.Before the licensee may discuss financing options with the buyer
• d.Only after the buyer and seller have reached a written agreement

A licensee need not have a brokerage agreement with a prospective buyer merely to tour a property, but a written brokerage agreement is required before a licensee lists a property for sale or submits an offer on a property on behalf of a client or customer for compensation. Cite: 2026 Mississippi brokerage agreement act (effective July 1, 2026), printed in Miss. Code Ann. tit. 73, ch. 35 as published in MREC License Law, rev. 7-01-2026.