Minnesota Real Estate Exam Prep

MN Salesperson Practice Exam

Our Minnesota 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 Minnesota’s licensing requirements. We stand by our real estate practice exams and offer an exam pass guarantee.

Give Me Access to Minnesota Real Estate Exam Prep

90 Day Money Back Guarantee On Our Real Estate Exam Prep

What Do I Get with the Minnesota Real Estate Exam Prep?

Instant Access to All Exam Prep Materials
A 100 Percent Money-Back Guarantee that You Will Pass
90 Days of Access to the System
Committed Customer Support
All Materials Updated for 2018 Regulations

Instant Results

Instant results on each question so you know your strength's and weaknesses!

Instant Results
Works on Any Device
Easy to Use

How Our System Works



Get Access to Real Estate Prep Guide	Study and Improve on Your Weak Areas	Pass Your Exam!

Get Access to Real Estate Prep Guide

Study and Improve on Your Weak Areas

Pass Your Exam!

Minnesota License Requirements

The applicant must complete 3 prelicensing courses. Of these, Course 1 needs to be successfully passed before taking the real estate exams, and Course 2 and Course 3 may be taken either before or after passing the exams.
Applicants need to successfully pass both parts of the examinations and apply for their license within one year from passing. If more than one year before applying for the exam, the applicant must re-take Course 1 and then take the examinations again.
All applicants for the salesperson license need to be associated with a licensed Minnesota real estate broker in order to maintain an active license. The application fee for the license is $140. You can locate the salesperson application form online.

Minnesota Sample Practice Real Estate Exam Questions and Answers

Minnesota State Section

Please wait while the activity loads.
If this activity does not load, try refreshing your browser. Also, this page requires javascript. Please visit using a browser with javascript enabled.

If loading fails, click here to try again

Click on the button below to "Start" your practice exam now. Leaving the page and or closing the browser now or at any moment during the exam will reset your answers. You can always go back and retake any practice test. You can also go over your answers at any moment during the practice test by clicking "List" and picking one of the questions that interests you.

Start

Congratulations - you have completed Minnesota State Section. You scored %%SCORE%% out of %%TOTAL%%. Your performance has been rated as %%RATING%%

Your answers are highlighted below.

Question 1

What is a holographic will?

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

Question 2

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

Question 3

Which of the following does NOT participate in reciprocity with Minnesota?

A	Wisconsin
B	South Dakota
C	Oklahoma
D	Ohio

Question 4

Does Minnesota allow Holographic wills?

A	No
B	Yes

Question 5

Is Minnesota a community property state?

A	No
B	Yes

Question 6

Does Minnesota have dower laws?

A	No
B	Yes

Question 7

What is homestead protection?

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

Question 8

In what circumstances, if any, can a broker in Minnesota 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	None; the broker may only collect compensation from one party to a transaction
C	In most circumstances, except when the buyer and seller are related
D	Only when both buyer and seller give informed consent to this arrangement

Question 9

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

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

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 tenancies does Minnesota allow?

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

Question 12

What term means "going to the state?"

A	escheat
B	Taxation
C	police power
D	Eminent Domain

Question 12 Explanation:

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

Question 13

Which is not necessary for a valid contract?

A	offer
B	legal object
C	due date
D	acceptance

Question 14

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

A	novation
B	Habendum
C	acknowledgement
D	Premises

Question 15

Does Minnesota have homestead laws?

A	Yes
B	No

Question 16

The license law is administered by:

A	Real Estate Commission of Minnesota
B	Minnesota Department of Commerce
C	Minnesota Department of Real Estate
D	Minnesota Real Estate Commission

Question 17

Standing trees would be considered:

A	Emblements
B	Chattels
C	Real property
D	Personal Property

Question 18

After getting a license, how often must you take Continuing Education classes?

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

Question 19

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

A	lock the tenant out.
B	turn off the gas
C	unlawful detainer action in court
D	turn off the power

Question 20

Does Minnesota participate in reciprocity with other states?

A	Yes
B	No

Question 21

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

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

A Salesperson license fee costs how much?

A	$140
B	$120
C	$100
D	$160

Question 23

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

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

Once you are finished, click the button below. Any items you have not completed will be marked incorrect. Get Results

There are 23 questions to complete.

List

Return

Shaded items are complete.

1	2	3	4	5
6	7	8	9	10
11	12	13	14	15
16	17	18	19	20
21	22	23	End