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

Which is not necessary for a valid contract?

A	due date
B	legal object
C	offer
D	acceptance

Question 2

What is a holographic will?

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

Question 3

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

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

Question 4

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

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

Question 5

Does Michigan have homestead laws?

A	Yes
B	No

Question 6

What term means "going to the state?"

A	Eminent Domain
B	police power
C	escheat
D	Taxation

Question 6 Explanation:

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

Question 7

The license law is administered by:

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

Question 8

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

A	novation
B	Habendum
C	Premises
D	acknowledgement

Question 9

The Salesperson license fee costs how much?

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

Question 10

Does Michigan participate in reciprocity with other states?

A	No
B	Yes

Question 11

Is Michigan a community property state?

A	No
B	Yes

Question 12

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

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

Question 13

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 1% 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 2% for each point charged

Question 14

Standing trees would be considered:

A	Personal Property
B	Real property
C	Chattels
D	Emblements

Question 15

What is homestead protection?

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

Question 16

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

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

Question 17

Does Michigan allow Holographic wills?

A	No
B	Yes

Question 18

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

A	Lessor
B	Lessee
C	Agent
D	Buyer

Question 19

Does Michigan have dower laws?

A	Yes
B	No

Question 20

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

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

Question 21

What tenancies does Michigan allow?

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

Question 22

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