Michigan Real Estate Exam Prep

MI Salesperson Practice Exam

Our Michigan Real Estate Exam Preparation guide will have you quickly prepared for your upcoming Salesperson License Exam. We have helped license over 50,000 students with an exam pass rate of over 95%. The practice exam questions and answers were created by industry experts and are constantly updated to Michigan’s licensing requirements. We stand by our real estate practice exams and offer an exam pass guarantee.

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Michigan License Requirements

An applicant for a real estate salesperson license must be 18 years of age and have successfully completed education and examination requirements required by the Occupational Code, PA 299 of 1980.
40 clock hours of approved real estate fundamentals Examination.
A real estate salesperson license can only be issued if a complete application, with fee and broker’s signature, is received by the department.
Other requirements include: “good moral character”, a current letter of good standing from states in which the applicant currently holds, or has ever held, a real estate license.

Michigan Sample Practice Real Estate Exam Questions and Answers

Michigan State Section

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Question 1

The Salesperson license fee costs how much?

A	$50
B	$78
C	$100
D	$88

Question 2

Mortgage "discount" points only apply if which of the following conditions are met?

A	The interest rate on the mortgage loan has been lowered by 2% for each point charged
B	The seller has agreed to pay 1% of the closing costs
C	The loan does not close and the buyer owes the lender for services rendered
D	The interest rate on the mortgage loan has been lowered by 1% for each point charged

Question 3

Which of the following is a landlord's option for a tenant not paying the rent?

A	unlawful detainer action in court
B	shutoff the gas
C	lock the tenant out of the apartment
D	shut off the power

Question 4

The license law is administered by:

A	Commission of Michigan Real Estate
B	Michigan State Board of Real Estate Brokers and Sales persons
C	Michigan Department of Real Estate
D	Michigan Commission of Realtors

Question 5

What tenancies does Michigan allow?

A	Joint tenancy
B	Tenancy by the entirety
C	Neither
D	Both

Question 6

Which of the following is required for an applicant to receive a Real Estate License?

A	Must have a Bachelors degree
B	Must sit and pass the required exam
C	Must have lived in the state for more than a year
D	Must be 25 or older

Question 7

What is homestead protection?

A	The status provided to a home owner's principal residence that protects the home against judgement up to a specified amount.
B	Net cash remaining to investor after sale of investment property
C	Gradual subsidence of waters, leaving dry land
D	The estimated value that an asset will have at then end of it's useful life

Question 8

After passing the real estate license exam, how often must you take Continuing Education classes?

A	every 4 years
B	every 3 years
C	every year
D	every 2 years

Question 9

Does Michigan participate in reciprocity with other states?

A	No
B	Yes

Question 10

Which of the following isn't part of a deed?

A	Habendum
B	acknowledgement
C	novation
D	Premises

Question 11

How soon can a broker receive a commission check after a closing in Michigan?

A	Once the offer sheet is signed.
B	Once the seller agrees to the price.
C	When the Buyer moves in.
D	After the transaction is completed and funded.

Question 12

Does Michigan have dower laws?

A	Yes
B	No

Question 13

Is Michigan a community property state?

A	Yes
B	No

Question 14

Who is responsible for maintaining a habitable property and for complying with local housing and building codes?

A	Buyer
B	Lessor
C	Lessee
D	Agent

Question 15

What is a holographic will?

A	a will that has been approved by each family member.
B	a will that displays in 3D
C	a standard boiler plate will.
D	a will and testament that has been entirely handwritten and signed by the testator.

Question 16

Which is not necessary for a valid contract?

A	offer
B	due date
C	acceptance
D	legal object

Question 17

Which of the following would not put a sales person in jeopardy of losing their license in Michigan?

A	Convicted of a felony
B	Placing an ad claiming to be a broker when they are not.
C	Being authorized to accept and excessive commission.
D	Depositing his/her clients escrow money into a personal account

Question 18

What term means "going to the state?"

A	Eminent Domain
B	Taxation
C	escheat
D	police power

Question 18 Explanation:

Escheat is if someone dies and there is no one to inherit or no will the property goes to the state.

Question 19

In what circumstances, if any, can a broker in Michigan who is serving as an intermediary representing both parties collect compensation from both the buyer and the seller?

A	Only when both buyer and seller have legal representation
B	Only when both buyer and seller give informed consent to this arrangement
C	None; the broker may only collect compensation from one party to a transaction
D	In most circumstances, except when the buyer and seller are related

Question 20

Does Michigan have homestead laws?

A	Yes
B	No

Question 21

Does Michigan allow Holographic wills?

A	No
B	Yes

Question 22

Standing trees would be considered:

A	Real property
B	Chattels
C	Personal Property
D	Emblements

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