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.

How to Get Your Real Estate License in Michigan

The Michigan Department of Licensing and Regulatory Affairs (LARA) requires applicants to complete 40 hours of approved classes. From there, you will receive authorization from LARA to sit for the state’s real estate exam. With our study guides, you will pass the notoriously challenging Michigan real estate license test — or you will get a full refund, guaranteed.

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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

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

A	The seller has agreed to pay 1% of the closing costs
B	The interest rate on the mortgage loan has been lowered by 2% for each point charged
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 2

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 3

The Salesperson license fee costs how much?

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

Question 4

Which is not necessary for a valid contract?

A	legal object
B	acceptance
C	due date
D	offer

Question 5

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

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

Question 6

The license law is administered by:

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

Question 7

Does Michigan have dower laws?

A	No
B	Yes

Question 8

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

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

Question 9

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

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

Question 10

Standing trees would be considered:

A	Real property
B	Personal Property
C	Emblements
D	Chattels

Question 11

Does Michigan allow Holographic wills?

A	No
B	Yes

Question 12

What tenancies does Michigan allow?

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

Question 13

Does Michigan participate in reciprocity with other states?

A	No
B	Yes

Question 14

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

A	Lessor
B	Buyer
C	Lessee
D	Agent

Question 15

Does Michigan have homestead laws?

A	Yes
B	No

Question 16

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

A	novation
B	Premises
C	Habendum
D	acknowledgement

Question 17

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

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

Question 18

Is Michigan a community property state?

A	No
B	Yes

Question 19

What is homestead protection?

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

Question 20

What term means "going to the state?"

A	police power
B	escheat
C	Eminent Domain
D	Taxation

Question 20 Explanation:

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

Question 21

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

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

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