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

What is a holographic will?

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

Question 2

Standing trees would be considered:

A	Personal Property
B	Emblements
C	Real property
D	Chattels

Question 3

Which is not necessary for a valid contract?

A	due date
B	acceptance
C	legal object
D	offer

Question 4

The Salesperson license fee costs how much?

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

Question 5

Does Michigan allow Holographic wills?

A	Yes
B	No

Question 6

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

Question 7

The license law is administered by:

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

Question 8

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

A	Lessee
B	Lessor
C	Buyer
D	Agent

Question 9

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

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

Question 10

Is Michigan a community property state?

A	Yes
B	No

Question 11

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	Being authorized to accept and excessive commission.
D	Convicted of a felony

Question 12

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

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

Question 13

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

A	Habendum
B	Premises
C	acknowledgement
D	novation

Question 14

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 15

Does Michigan have homestead laws?

A	Yes
B	No

Question 16

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

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

Question 17

What term means "going to the state?"

A	Eminent Domain
B	police power
C	escheat
D	Taxation

Question 17 Explanation:

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

Question 18

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	shut off the power
D	lock the tenant out of the apartment

Question 19

What is homestead protection?

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

Question 20

What tenancies does Michigan allow?

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

Question 21

Does Michigan participate in reciprocity with other states?

A	Yes
B	No

Question 22

Does Michigan have dower laws?

A	No
B	Yes

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