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

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

A	Lessor
B	Agent
C	Buyer
D	Lessee

Question 3

The Salesperson license fee costs how much?

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

Question 4

What term means "going to the state?"

A	Taxation
B	escheat
C	Eminent Domain
D	police power

Question 4 Explanation:

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

Question 5

Does Michigan have homestead laws?

A	Yes
B	No

Question 6

Standing trees would be considered:

A	Emblements
B	Personal Property
C	Real property
D	Chattels

Question 7

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

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

Question 8

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

Question 9

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	unlawful detainer action in court
D	shutoff the gas

Question 10

Does Michigan allow Holographic wills?

A	No
B	Yes

Question 11

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 12

Does Michigan participate in reciprocity with other states?

A	No
B	Yes

Question 13

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

A	Premises
B	acknowledgement
C	Habendum
D	novation

Question 14

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 15

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

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

Question 16

Does Michigan have dower laws?

A	No
B	Yes

Question 17

What tenancies does Michigan allow?

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

Question 18

The license law is administered by:

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

Question 19

Which is not necessary for a valid contract?

A	offer
B	legal object
C	due date
D	acceptance

Question 20

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 seller agrees to the price.
D	Once the offer sheet is signed.

Question 21

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

A	The loan does not close and the buyer owes the lender for services rendered
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 interest rate on the mortgage loan has been lowered by 2% for each point charged

Question 22

What is a holographic will?

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