Michigan Salesperson Exam Prep Edge Free Assessment for MI Real Estate Exam Prep

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In order to become a Michigan real estate agent, you'll need to pass the real estate exam! Below are free Michican real estate practice exam questions that will closely resemble your licensing exam. Review these questions and see what you know! The answers are provided beneath the question set.

1. Which of the following is a likely action of the Michigan State Housing Development Authority?

  1. Auditing state lenders to ensure a certain percentage of loans are designated for low- and moderate-income families
  2. Developing housing projects in low-income communities
  3. Establishing statewide building codes required for residential development
  4. Making loans to low- to moderate-income families

2. Jerome is developing an ad for three properties he has listed in an upscale community. He wants to keep it short and simple. Which of these would NOT trigger full disclosure under TILA?

  1. 10% down payment
  2. 30-year fixed rate with no points
  3. A monthly payment of $900
  4. Get a low 4.925% APR

3. A local buyer is purchasing a property for $120,000. What will the seller pay in transfer tax if the rate is $.37 per $100?

  1. "$370
  2. $3,700
  3. $4,400
  4. $444

4. John and Amy purchased a builder's home warranty when they bought their home. They have found structural damage that could be a detriment to their home. On average, how many years does a home warranty cover structural damage?

  1. 10 years
  2. Five years
  3. One year
  4. Three years

5. " Devon is a real estate salesperson in Michigan. A week ago, he submitted a transfer application with the department to affiliate with a new broker. Which of the following statements is true?"

  1. Devon can continue performing real estate activities. His pocket card provides proof of licensure while the department process the application.
  2. Devon must wait until his new broker receives the new license and pocket card before performing real estate activities.
  3. Devon’s original broker must send Devon’s license to the new broker within seven business days of Devon filing the transfer application with the department.
  4. The department won’t process the transfer unless Devon notified his original broker of the transfer in writing.

6. Which of the following questions can an agent in a dual agency transaction answer without breaching her duties to either client?

  1. "Are you aware of any structural issues with the property?
  2. How much should my counter-offer to the buyer be?
  3. What repairs or concessions should I ask for from the home inspection?
  4. What should I agree to fix from this list the buyer sent?

7. " A recent homebuyer is upset with a Michigan real estate licensee who didn’t disclose that the property was the site of illegal trafficking activities and is threatening to file a lawsuit. Did the license fail in her duty to disclose?"

  1. "No, licensees aren't required to disclose that a property was the site of illegal activity that didn’t affect the material condition of the property.
  2. No, news of the activity was widely reported to the local community and was publicly available, so the licensee’s duty to disclose was waived.
  3. Yes, licensees have a duty to disclose any notorious details about a property.
  4. Yes, licensees have a duty to disclose when a property was the site of illegal activities.

8. Michigan licensee Barbara is house hunting near Mackinaw City, and this time, it's for a house of her own. At what point must she first let the sellers know that she is a licensee?

  1. "At her first communication with them
  2. At her first substantive contact with them
  3. At or before closing
  4. When she makes an offer on a house
Answers: 1. D, 2. D, 3. D, 4. A, 5. A, 6. A, 7. A, 8. D

 

For a more comprehensive view into the types of questions you can expect on the exam, sign up for our free assessment. You’ll have the chance to review a 99-question real estate practice exam at no cost to you. Note that answers are only provided upon purchasing Exam Prep.

If you’re ready to feel confident about your upcoming licensing exam, you can purchase our Massachusetts real estate Exam Prep package. By purchasing one of our packages, you not only get to see the results from your free assessment, but you’ll also have access to an innovative Exam Prep Edge program that will put you in the best position to pass your test the first time around.

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What happens when my free trial ends?

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