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Real Estate Salesperson Exam — National Portion

Disclosure (MS): practice questions

Our Real Estate (National) bank has 4 questions on this topic. Here are 3 of them with answers; the full mock exam draws from every topic, like the real one.

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Question 1 · Mississippi

Under Mississippi law, the fact that a natural death or suicide occurred in a house is what?

  1. Not a material fact that must be disclosed
  2. A fact the licensee must disclose only if under five years old
  3. A material fact the seller must disclose in writing
  4. A fact that voids the sale if not disclosed
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A. Not a material fact that must be disclosed — Miss. Code Ann. 89-1-527(1).

Question 2 · Mississippi

What is true of a broker's price opinion prepared by a Mississippi licensee?

  1. It may estimate market value if the licensee holds E&O coverage
  2. It may be oral if prepared only for a seller considering a listing
  3. It must be in writing and may never be referred to as a valuation or appraisal
  4. It may substitute for an appraisal when the lender consents in writing
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C. It must be in writing and may never be referred to as a valuation or appraisal — Miss. Code Ann. 73-35-4(3), (6).

Question 3 · Mississippi

A property condition disclosure is delivered in person after the buyer's offer was made. How long does the buyer have to terminate the offer?

  1. Until the day of closing
  2. Fourteen days after delivery
  3. Ten days after delivery
  4. Three days after delivery
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D. Three days after delivery — Miss. Code Ann. 89-1-503(1).

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