State Broker — Information & Free Practice

US-MT · Examination information

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State Broker

Examination outline

I. The Real Estate Licensing Agency's Powers (Brokers: 2 items)
- A. Investigations, hearings, and appeals
- B. Sanctions — 1. Disciplinary actions
- B. Sanctions — 2. Penalties
- C. Examination of records
II. Licensing (Brokers: 2 items)
- A. Activities requiring a license
- B. License renewal
- C. Change in license status or information
III. Requirements Governing the Activities of Licensees (Brokers: 26 items)
- A. Advertising and marketing
- B. Broker/Salesperson relationship
- C. Unprofessional conduct
- D. Compensation
- E. Disclosure — 1. Conflict of interest
- E. Disclosure — 2. Property disclosure
- E. Disclosure — 3. Agency disclosure
- F. Agency duties and responsibilities
- G. Handling of documents
- H. Handling of monies
- I. Listings and buyer brokerage agreements
- J. Illegal inducements/Ethics
IV. Additional Topics (Brokers: 4 items)
- A. Errors and omissions insurance
- B. Land description
- C. Common interest ownership/Condominium
- D. Landlord/tenant relationship
- E. Foreclosure and redemption
- F. Statue of frauds
V. Additional Broker Topics (Brokers only: 6 items)
- A. Trust accounts
- B. Supervision
- C. Place of business
- D. Recordkeeping
- E. Closing statements

Examination sources