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

Is Michigan a community property state?

A	No
B	Yes

Question 2

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 interest rate on the mortgage loan has been lowered by 1% for each point charged
D	The loan does not close and the buyer owes the lender for services rendered

Question 3

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

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

Question 4

Does Michigan allow Holographic wills?

A	Yes
B	No

Question 5

Does Michigan participate in reciprocity with other states?

A	No
B	Yes

Question 6

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	Placing an ad claiming to be a broker when they are not.
C	Depositing his/her clients escrow money into a personal account
D	Convicted of a felony

Question 7

What term means "going to the state?"

A	police power
B	escheat
C	Eminent Domain
D	Taxation

Question 7 Explanation:

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

Question 8

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

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

Question 9

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	Only when both buyer and seller give informed consent to this arrangement
C	Only when both buyer and seller have legal representation
D	None; the broker may only collect compensation from one party to a transaction

Question 10

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 11

What is homestead protection?

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

Question 12

Are dower rights currently in effect in Michigan?

A	Yes
B	No

Question 13

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

A	Habendum
B	acknowledgement
C	Premises
D	novation

Question 14

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 lived in the state for more than a year
D	Must have a Bachelors degree

Question 15

The Salesperson license fee costs how much?

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

Question 16

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

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

Question 17

Standing trees would be considered:

A	Chattels
B	Real property
C	Emblements
D	Personal Property

Question 18

What is a holographic will?

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

Question 19

What tenancies does Michigan allow?

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

Question 20

Does Michigan have homestead laws?

A	Yes
B	No

Question 21

The license law is administered by:

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

Question 22

Which is not necessary for a valid contract?

A	legal object
B	acceptance
C	offer
D	due date

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