Minnesota Real Estate Broker Exam Prep
90-day Access to All Minnesota Exam Prep Materials
Risk-free Guarantee – Pass or Your Money Back
400+ National and State Questions, Math Prep
Committed Customer Support
The practice exams will give you all the preparation and practice you need to have the best shot possible at passing the actual exam on the first try.
Worried About Passing Your MN State Exam?
You cannot become a licensed real estate agent in Minnesota without passing the MN Real Estate licensing exam. When you are considering a career as a real estate agent, you want to pass your exam on the first try. Which is why we created our Minnesota real estate exam prep system. Our system has helped more than 50,000 students nationwide pass their real estate exams and become licensed real estate agents.
We know you have a busy life, and sometimes, it’s not realistic to study for hours every day in the weeks leading up to your exam. That’s okay, even just a few hours with our exam prep materials will get you to a point where you’ll be able to pass your exam confidently.
Our goal is to help you build confidence in the material and
pass your MN real estate exam the first time you take it.
Over 400 state & national practice questions, flash cards and math prep.
Our students enjoy a pass rate of over 95% on the real estate exam.
If you do not pass your test, contact us and we will refund you in full.
Free Sample Real Estate Exam
Question 1 |
A | Freehold estates |
B | Things that buyers and sellers own |
C | Rights or interests that a person has in the thing owned |
D | Only personal property |
Question 2 |
A | Fee simple defeasible |
B | Estate at sufferance |
C | Estate in fee |
D | Probate estate |
Question 3 |
A | Valid for the 10-years |
B | Valid until the man died |
C | Invalid unless the deceased's executor confirmed it |
D | Invalid from the beginning |
Question 4 |
A | Something that is made part of a chattel real |
B | Something referred to by actions but not referred to in the sales contract |
C | Something incorporated into the land |
D | Something used in an extraordinary way with the land |
Question 5 |
A | The landlord-tenant relationship |
B | The obstinacy of a holdover tenant |
C | The mode or method of holding title to real property by a lessee or owner |
D | None of these |
Question 6 |
A | Purchasing property through a dummy transaction |
B | An action to quiet a noisy tenant |
C | Foreclosure action |
D | Court action to remove a cloud on the title. |
Question 7 |
A | The degree, quantity nature, and extent of interest that a person has in real property. |
B | The use of property by a debtor to offer a creditor security for a debt |
C | Any action taken relative to property |
D | Anything that affects or limits the fee simple title to property |
Question 8 |
A | They are used security for trust deeds |
B | They are recorded at the county recorder's office |
C | They are always used when real estate is sold |
D | They are the evidence of the debt |
Question 9 |
A | Equal annual principal reduction payments. |
B | No principal payments during the term of the loan except on the last payment |
C | A total effective interest rate greater than if the loan were an installment loan |
D | None of the above |
Question 10 |
A | Interest rate |
B | Monthly payment |
C | Term of the loan |
D | Annual percentage rate |
Question 11 |
A | The creation of restrictive conditions by the original sub-divider |
B | Eminent domain proceedings against property in the path of a proposed freeway |
C | Adjudication of conflicting claims between present and former owners of a parcel of real property |
D | The enactment of zoning laws limiting the use that may be made of a parcel of real property |
E | The enactment of zoning laws is a common example of government's use of police power |
Question 12 |
A | Variances |
B | General land use |
C | Zoning |
D | Conditional use permits |
Question 13 |
A | The trust deed is recorded after a declaration of homestead |
B | he trust deed is recorded after a work of improvement was commenced and a mechanic's lien is recorded on the work |
C | A judgment lien is placed on the property |
D | None of the above |
Question 14 |
A | It can be removed only by a court order. |
B | It can be recorded no matter what the type of lawsuit is |
C | It may affect the title to real property based on the results of the lawsuit |
D | None of the above |
Question 15 |
A | The county clerk's office |
B | The county recorder's office |
C | The federal land office |
D | All of the above |
Question 16 |
A | Existing liens and encumbrances as disclosed by the public records |
B | A deed or re-conveyance issued by a minor |
C | The location of property lines according to formal survey |
D | An error in the sequence of recording trust deed loans |
Question 17 |
A | A licensed real estate broker |
B | One holding a Certified Property Manager designation |
C | An appraiser |
D | All of the above |
Question 18 |
A | One year from date of termination |
B | Two years from date of termination |
C | Three years from date of termination |
D | Three years from date of employment |
Question 19 |
A | Within three days of the time the borrower signs it |
B | When it is signed by the borrower |
C | Within 24 hours of the time the borrower signs it |
D | When escrow closes |
Question 20 |
A | FHA financing is not available |
B | VA financing available |
C | $10,000 down, 6% interest |
D | Easy financing-call us today |
Question 21 |
A | 1962 |
B | 1968 |
C | 1974 |
D | 1982 |
Question 22 |
A | Redlining |
B | Blockbusting |
C | Steering |
D | Proper conduct |
Question 23 |
A | The level of personal income rises |
B | New residential developments will increase in number |
C | Sales of existing homes will remain level or increase |
D | All of the above |
Question 24 |
A | The real estate industry |
B | Land-use controls |
C | Consumer concerns |
D | All of the above |
Question 25 |
A | All rights and interest of the seller now pass to the buyer |
B | An equitable title passes to the buyer |
C | The legal title passes to the buyer |
D | No title to the real estate passes |
Question 26 |
A | Both buyer and seller |
B | Seller only |
C | Buyer only |
D | None of the above |
Question 27 |
A | Total finance charges must be included |
B | The number of payments must be included |
C | The amount of the down payment must be included |
D | Additional disclosures are not required |
Question 28 |
A | A commercial building is being used for the security for the loan |
B | The loan is not secured by the borrower's dwelling and more than $35,000 is being borrowed. |
C | The borrower's residence is the security for the loan |
D | The money will be used for business expansion |
Question 29 |
A | Trustee |
B | Broker |
C | Lender |
D | Escrow company |
Question 30 |
A | The VA |
B | The FHA or private mortgage insurer |
C | Fannie Mae |
D | The beneficiary |
Question 31 |
A | Obey the civil code |
B | Be a witness for the transaction |
C | Make sure that the conditions and terms are met before the closing of the transaction |
D | Provide a legal recourse against escrow company for the two parties involved |
Question 32 |
A | Regulate all real estate loans |
B | Choose lenders that can process applications for loans |
C | Regulate home improvements loans |
D | Require that disclosures be made by lenders that make loans on one-unit to four-unit dwellings. |
Question 33 |
A | Rescission |
B | Specific performance |
C | Lawful detainer |
D | Damages |
Question 34 |
A | Actions |
B | Being considerate |
C | Written agreement |
D | Cooperating with other brokers. |
Question 35 |
A | Implied contract |
B | Oral contract |
C | Written contract |
D | Voluntary offer by the agent |
Question 36 |
A | All parties are told before the close of escrow |
B | The buyer and the seller consent to it |
C | The broker and the escrow company agree to it |
D | All parties are told after they sign the contracts |
Question 37 |
A | A promissory note |
B | A postdated check |
C | Anything that the seller considers valuable |
D | All of the above |
Question 38 |
A | A promise for promise |
B | A bilateral contract |
C | An employment contract |
D | All of the above |
Question 39 |
A | Exclusive agency |
B | Exclusive authorization and right to sell |
C | Open listing |
D | Nonexclusive listing |
Question 40 |
A | Also requires a real estate transfer disclosure statement |
B | Provides that the buyer should beware |
C | Means that nothing is warranted |
D | Does not require a real estate transfer disclosure statement. |
Question 41 |
A | the tax rate that is used for the next dollar of taxable income earned |
B | A 15% tax rate |
C | The tax rate used for your state income tax |
D | None of the above |
Question 42 |
A | Growing trees |
B | A leasehold interest |
C | An easement in gross |
D | None of the above |
Question 43 |
A | deduct only $2,000 of the loss on her income tax return |
B | Offset the loss against any capital gains |
C | Deduct the full amount from her ordinary income |
D | Deduct only one-half of the loss from her ordinary income |
Question 44 |
A | Land has residual value but improvements do not |
B | The ACRS method of depreciation can be used when depreciating land |
C | Land is considered to be 25% of the total value and is depreciated |
D | Land is not depreciated |
Question 45 |
A | Both will be taxed on the difference between the value and the basis |
B | The man has a taxable gain |
C | The woman has a recognized gain |
D | Neither has a taxable gain |
Question 46 |
A | The properties are not of a like kind |
B | The exchanged properties are both vacant land |
C | One of the properties is a leasehold over 30 years |
D | All of the above |
Question 47 |
A | Mobile homes properly installed on a permanent foundation |
B | Vacant land located in an unincorporated area of the county |
C | Intangible personal property |
D | Possessory interests of lessees in tax exempt public property, such as leases on oil and gas properties |
Question 48 |
A | Bureau of Real Estate |
B | Board of supervisors |
C | Assessment appeals board |
D | County tax collector |
Question 49 |
A | The CC&Rs |
B | The bylaws |
C | A copy of the most recent financial statement |
D | All of the above |
Question 50 |
A | Part of the common area |
B | At least four feet wide |
C | Made of asphalt |
D | Owned as a fee simple estate |
Question 51 |
A | Higher value |
B | Lower value |
C | Plottage increment |
D | None of the above |
Question 52 |
A | $2.00 |
B | $4.20 |
C | $7.30 |
D | $9.20 |
Question 53 |
A | $106,000 |
B | $189,200 |
C | $490,000 |
D | $720,800 |
Question 54 |
A | $1,650,000 |
B | $950,000 |
C | $1,472,500 |
D | $2,000,000 |
Question 55 |
A | $36,000 |
B | $45,000 |
C | $48,000 |
D | $70,000 |
Question 56 |
A | A person who is employed by a lending institution to do its appraisal |
B | A person who appraises property for its state |
C | A person who appraises property for the federal government |
D | A person who is self-employed and charges a fee |
Question 57 |
A | A definition of value |
B | The property identification |
C | The property rights to be appraised |
D | The assessed value |
Question 58 |
A | The bundle of rights |
B | Utility |
C | Physical land and the improvements thereon |
D | All of the above |
Question 59 |
A | Economic value |
B | Economic obsolescence |
C | An unearned increment |
D | None of the above |
Question 60 |
A | Gross multiplier |
B | Cubic feet |
C | Entire property |
D | Capitalization rate |
Question 61 |
A | market data approach |
B | Cost approach |
C | Income approach |
D | Land residual approach |
Question 62 |
A | Square foot |
B | Square yard |
C | Front foot |
D | Cubic foot |
Question 63 |
A | Fixed factor |
B | Gross rent multiplier |
C | Comparison |
D | Cost |
Question 64 |
A | Showing the details of the foundation construction |
B | Guiding building construction |
C | Showing exterior sides of the houses |
D | Guiding placement of construction and related land improvements |
Question 65 |
A | There is dampness in the habitable room |
B | The electrical wiring does not comply with present code, but it did when it was installed and it is now safe and is working properly |
C | There is no heating |
D | There is defective weather protection on the outside of the building |
Question 66 |
A | Deed transfer taxes |
B | Title insurance |
C | Impound items |
D | Escrow charges |
Question 67 |
A | Appointed by the probate court |
B | Named in the decedent's will |
C | Selected by the devisee |
D | Appointed by the decedent's attorney |
Question 68 |
A | Goodwill |
B | Equipment used for the business |
C | Sales |
D | Prepaid expenses |
Question 69 |
A | Listing agreement |
B | Deposit receipt |
C | Owner-buyer statement |
D | Settlement statement |
Question 70 |
A | Executes a contract in the name of the seller |
B | Acts in excess of the authority given her by the seller |
C | Turn the buyer's deposit over to the seller and thereafter the contract fails due to no fault of the broker |
D | Innocently makes a misrepresentation based upon information received from the seller |
Question 71 |
A | A straight note |
B | An amortized note |
C | An installment note |
D | A level payment note |
Question 72 |
A | Hypothecated |
B | Alienated |
C | Assessed |
D | All of the above |
Question 73 |
A | Value of this building |
B | Monthly gross sales with a minimum rent |
C | Annual net sales with a minimum rent |
D | Assessed value |
Question 74 |
A | Reversion |
B | Remainder |
C | Freehold |
D | Chattel real |
Question 75 |
A | Cal-vet |
B | FHA-insured |
C | VA-guaranteed |
D | All of the above |
Question 76 |
A | Realtists |
B | REALTORS |
C | Broker-Realtists |
D | United broker |
Question 77 |
A | the services of a licensed real estate broker |
B | A binding contract between the buyer and the seller |
C | A complete chain of title |
D | No conditions in the escrow instructions |
Question 78 |
A | Lis pendens |
B | Writ of execution |
C | Foreclosure by trustee's sale |
D | Quiet title of action |
Question 79 |
A | Trustor |
B | Beneficiary |
C | Holder of the note |
D | Trustee |
Question 80 |
A | One square mile |
B | Six square miles |
C | 36 sections |
D | Larger than a range |
Question 81 |
A | Subrogation |
B | Acquisition |
C | Subordination |
D | Hypothecation |
Question 82 |
A | Eminent domain |
B | Police power |
C | The majority vote of the people |
D | The Internal Revenue Service |
Question 83 |
A | Joists |
B | Studs |
C | Rafters |
D | Beams |
Question 84 |
A | Fixtures and/or furniture |
B | The value of goodwill |
C | Accounts receivable |
D | All of the above |
Question 85 |
A | After one year |
B | On issuance of the final public report |
C | When a material change occurs |
D | All of the above |
Question 86 |
A | Discount rate |
B | Interest rate |
C | Capitalization rate |
D | Annual percentage rate |
Question 87 |
A | Loss of physical life |
B | Deferred maintenance |
C | Obsolescence |
D | Deterioration |
Question 88 |
A | Deed of reconveyance |
B | Release |
C | Satisfaction |
D | Certificate of redemption |
Question 89 |
A | Cost |
B | Price |
C | Utility |
D | Worth |
Question 90 |
A | Government patent |
B | Deed |
C | Quitclaim |
D | Warranty deed |
Question 91 |
A | Banks |
B | Savings and loans |
C | Mortgage companies |
D | Insurance companies |
Question 92 |
A | The trustor |
B | The trustee |
C | The beneficiary |
D | All of the above |
Question 93 |
A | Holds the trust deed |
B | Sells the property |
C | Signs the note |
D | Sells the mortgage |
Question 94 |
A | Leveraging |
B | Usurious |
C | illegal |
D | Discounting |
Question 95 |
A | The original amount due on the note |
B | Percentage of assessed value |
C | Percentage of sales price |
D | Percentage of appraised value |
Question 96 |
A | Be competitive in interest rates |
B | Equalize interest rates |
C | Make adjustments between fixed rate loans and ARMs in its loan portfolio |
D | Increase the lender's yield |
Question 97 |
A | 5,280 feet x 10,560 feet |
B | 1 mile x 1 mile |
C | 10% of a township |
D | 4 sections |
← | List | → |
1 | 2 | 3 | 4 | 5 |
6 | 7 | 8 | 9 | 10 |
11 | 12 | 13 | 14 | 15 |
16 | 17 | 18 | 19 | 20 |
21 | 22 | 23 | 24 | 25 |
26 | 27 | 28 | 29 | 30 |
31 | 32 | 33 | 34 | 35 |
36 | 37 | 38 | 39 | 40 |
41 | 42 | 43 | 44 | 45 |
46 | 47 | 48 | 49 | 50 |
51 | 52 | 53 | 54 | 55 |
56 | 57 | 58 | 59 | 60 |
61 | 62 | 63 | 64 | 65 |
66 | 67 | 68 | 69 | 70 |
71 | 72 | 73 | 74 | 75 |
76 | 77 | 78 | 79 | 80 |
81 | 82 | 83 | 84 | 85 |
86 | 87 | 88 | 89 | 90 |
91 | 92 | 93 | 94 | 95 |
96 | 97 | End |
Sample Practice Exam
Interactive Practice Questions Designed For Minnesota Test
Take our free real estate practice exam by simply selecting the answer from the list. Toggle through the questions and view helpful hints. Our simulated exam gauges your score in real-time.
Sample Flashcards
Flashcards & Study Guides With Real MN Test Examples
Repetition is a proven technique for learning harder concepts. Try our flash card simulator to test your knowledge. Move over the cards to flip them and view the definitions.
Bundle of Rights
Bundle of Rights
All real property rights conferred with ownership, including right of use, right of enjoyment, and right of disposal.
Net Lease
Net Lease
Lease for which a tenant pays all taxes,insurance, etc., plus utilities and rent.
Grantor
Grantor
The person who transfers title to real property in a real estate transaction.
Deed of Trust
Deed of Trust
An instrument creating a voluntary lien on real property held by a third party as security for the payment of a note.
The Process is Simple
Step 1
Get Access to Real
Estate Prep Guide
Take advantage of these guides and quizzes right away by starting right now! The process is fast and simple.
Step 2
Study and Improve on
Your Weak Areas
We have real estate practice exams and study guides for every state. These guides and quizzes will give you a chance to fully prepare for your real estate license exam.
Step 3
Pass Your Exam!
Our prep material will give you peace of mind as you move toward taking the exam. We are here 24/7 to help you succeed!
What Our Customers Say
Rated 4.8 out of 5 based on 46 verified reviews on
4.8
Thank you for your amazing service and for teaching me how to pass my real estate salesperson exam. I’m so excited about my new career in real estate and I have Prep Guide to thank for it!
Sherri L.
RE Prep Guide is a superior product. I’ve been in real estate for years yet lacked the training to pass the exam. My life has changed after passing and I recommend this to anyone.
George A.
These Real Estate study quizzes helped me a great deal in passing the PSI test in PA. Lots of questions with explanations and it’s possible to retake each test as many times as necessary.
Gianni V.
Pick a State to Get Started
- Alabama Broker Exam Prep
- Alaska Broker Exam Prep
- Arizona Broker Exam Prep
- Arkansas Broker Exam Prep
- California Broker Exam Prep
- Colorado Broker Exam Prep
- Connecticut Broker Exam Prep
- Delaware Broker Exam Prep
- DC Broker Exam Prep
- Florida Broker Exam Prep
- Georgia Broker Exam Prep
- Hawaii Broker Exam Prep
- Idaho Broker Exam Prep
- Illinois Broker Exam Prep
- Indiana Broker Exam Prep
- Iowa Broker Exam Prep
- Kansas Broker Exam Prep
- Kentucky Broker Exam Prep
- Louisiana Broker Exam Prep
- Maine Broker Exam Prep
- Maryland Broker Exam Prep
- Massachusetts Broker Exam Prep
- Michigan Broker Exam Prep
- Minnesota Broker Exam Prep
- Mississippi Broker Exam Prep
- Missouri Broker Exam Prep
- Montana Broker Exam Prep
- Nebraska Broker Exam Prep
- Nevada Broker Exam Prep
- New Hampshire Broker Exam Prep
- New Jersey Broker Exam Prep
- New Mexico Broker Exam Prep
- New York Broker Exam Prep
- North Carolina Broker Exam Prep
- North Dakota Broker Exam Prep
- Ohio Broker Exam Prep
- Oklahoma Broker Exam Prep
- Oregon Broker Exam Prep
- Pennsylvania Broker Exam Prep
- Rhode Island Broker Exam Prep
- South Carolina Broker Exam Prep
- South Dakota Broker Exam Prep
- Tennessee Broker Exam Prep
- Texas Broker Exam Prep
- Utah Broker Exam Prep
- Vermont Broker Exam Prep
- Virginia Broker Exam Prep
- Washington Broker Exam Prep
- West Virginia Broker Exam Prep
- Wisconsin Broker Exam Prep
- Wyoming Broker Exam Prep