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Minnesota Real Estate Broker Examination — State Portion — Information & Free Practice

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Minnesota Real Estate Broker Examination — State Portion

Provider
PSI Services LLC
Format
Computer-delivered written examination
Exam questions
PSI examination summary table: 60 state items (60 points), plus 5–10 unscored experimental questions; the published state content outline separately lists broker section counts totaling 50.
Time limit
1.5 hours
Passing score
75% correct
Examination outline
  • Laws and Rules — Real Estate Brokerage License Law (Broker 25)
    • Definitions — Ch. 82.55
    • Licensing — Ch. 82.57–82.63
    • Trust accounts — Ch. 82.75
    • Standards of Conduct — Ch. 82.72–82.73
    • Commissioner’s authority — Ch. 45.011–45.43
    • Real Estate Education, Research, and Recovery Fund — Ch. 82.86
    • Agency Disclosure Requirements — Ch. 82.67
    • Other Disclosure Requirements — Ch. 82.68
    • Compensation — Ch. 82.70
  • Interests in Real Property (Broker 10)
    • Ownership
    • Ownership — Conveyance by Spouses, Ch. 507.02, 500.19
    • Ownership — Subdivided Lands, Ch. 83.20–83.45
    • Ownership — Common interest ownership
    • Ownership — Common interest ownership — Condominiums, Ch. 515
    • Ownership — Common interest ownership — Uniform Condominium Act, Ch. 515A
    • Ownership — Common interest ownership — Minnesota Common Interest Ownership Act, Ch. 515B
    • Ownership — Real estate taxes and special assessments, Ch. 279
    • Landlords and tenants — Ch. 504B
  • Conveyance Procedures and Protection of Parties (Broker 9)
    • Recording and fees
    • Recording and fees — Registration, Torrens, Ch. 508
    • Recording and fees — Mortgage Registry Tax; Deed Tax, Ch. 287
    • Statutory Home Warranties — Ch. 327A.02, Statutory Warranties
    • Minnesota Human Rights Act — Ch. 363A, Department of Human Rights
    • Minnesota Statute of Frauds
    • Minnesota Statute of Frauds — Enforcement of Property Agreements and Other Contracts, Ch. 513
    • Minnesota Statute of Frauds — Frauds, Ch. 336.2A-201
    • Environmental Issues
    • Environmental Issues — Septic systems, Individual Sewage Treatment Systems, Sec. 115.55
    • Environmental Issues — Wells, Real property sale; disclosure of location of wells, Sec. 103I.235
    • Environmental Issues — Leaking underground storage tanks, Pollution Control Agency, Sec. 116.46–48; Petroleum Tank Release, Sec. 115C.01–09
  • Financial Instruments: Obligations, Rights, Remedies (Broker 6)
    • Mortgages/contracts for deed
    • Mortgages/contracts for deed — Foreclosures/cancellation and redemption rights
    • Mortgages/contracts for deed — Foreclosures/cancellation and redemption rights — Mortgages; Foreclosure by Advertisement, Ch. 580
    • Mortgages/contracts for deed — Foreclosures/cancellation and redemption rights — Mortgages; Foreclosure by Action, Ch. 581
    • Mortgages/contracts for deed — Foreclosures/cancellation and redemption rights — Mortgages; Foreclosure, General Provisions, Ch. 582
    • Mortgages/contracts for deed — Contract for deed, Sec. 559
    • Mortgages/contracts for deed — Homestead exemptions, Ch. 510
    • Liens — Liens; Labor, Material, Ch. 514
Examination sources