Minnesota Housing Finance Program Examiner Exam Practice
Questions & Verified Answers | 2026 Latest Update
Questions 1–250
Domain 1: Minnesota Housing Finance Agency Overview &
Authority (Questions 1–40)
1. Which agency is primarily responsible for administering
housing finance programs in Minnesota?
A) Minnesota Department of Commerce
B) Minnesota Housing Finance Agency (Minnesota Housing)
C) Minnesota Department of Labor and Industry
,D) Minnesota Department of Revenue
Answer B: Minnesota Housing Finance Agency (Minnesota
Housing)
Rationale: The Minnesota Housing Finance Agency
administers state housing programs, provides financing
resources, and supports affordable housing development and
homeownership opportunities.
2. The primary mission of Minnesota Housing Finance Agency
programs is to:
A) Increase commercial property development
B) Support affordable housing opportunities for Minnesotans
C) Regulate real estate brokers
D) Collect property taxes
Answer B: Support affordable housing opportunities for
Minnesotans
,Rationale: Minnesota Housing focuses on creating and
preserving affordable housing, assisting renters, homeowners,
developers, and communities.
3. Under which Minnesota statute is the Minnesota Housing
Finance Agency established?
A) Minnesota Statutes Chapter 116L
B) Minnesota Statutes Chapter 462A
C) Minnesota Statutes Chapter 363A
D) Minnesota Statutes Chapter 13
Answer B: Minnesota Statutes Chapter 462A
Rationale: Minnesota Statutes Chapter 462A establishes the
Minnesota Housing Finance Agency and defines its powers and
duties.
4. The Minnesota Housing Finance Agency is governed by:
A) The Governor alone
, B) A board of directors appointed by the Governor
C) The Legislature directly
D) The Department of Commerce
Answer B: A board of directors appointed by the Governor
Rationale: The agency is governed by a board of directors
appointed by the Governor, with members representing
various stakeholder groups.
5. Minnesota Housing's primary funding sources include:
A) Property taxes only
B) Bond proceeds, legislative appropriations, and program
revenues
C) Federal grants only
D) Private donations
Answer B: Bond proceeds, legislative appropriations, and
program revenues
Questions & Verified Answers | 2026 Latest Update
Questions 1–250
Domain 1: Minnesota Housing Finance Agency Overview &
Authority (Questions 1–40)
1. Which agency is primarily responsible for administering
housing finance programs in Minnesota?
A) Minnesota Department of Commerce
B) Minnesota Housing Finance Agency (Minnesota Housing)
C) Minnesota Department of Labor and Industry
,D) Minnesota Department of Revenue
Answer B: Minnesota Housing Finance Agency (Minnesota
Housing)
Rationale: The Minnesota Housing Finance Agency
administers state housing programs, provides financing
resources, and supports affordable housing development and
homeownership opportunities.
2. The primary mission of Minnesota Housing Finance Agency
programs is to:
A) Increase commercial property development
B) Support affordable housing opportunities for Minnesotans
C) Regulate real estate brokers
D) Collect property taxes
Answer B: Support affordable housing opportunities for
Minnesotans
,Rationale: Minnesota Housing focuses on creating and
preserving affordable housing, assisting renters, homeowners,
developers, and communities.
3. Under which Minnesota statute is the Minnesota Housing
Finance Agency established?
A) Minnesota Statutes Chapter 116L
B) Minnesota Statutes Chapter 462A
C) Minnesota Statutes Chapter 363A
D) Minnesota Statutes Chapter 13
Answer B: Minnesota Statutes Chapter 462A
Rationale: Minnesota Statutes Chapter 462A establishes the
Minnesota Housing Finance Agency and defines its powers and
duties.
4. The Minnesota Housing Finance Agency is governed by:
A) The Governor alone
, B) A board of directors appointed by the Governor
C) The Legislature directly
D) The Department of Commerce
Answer B: A board of directors appointed by the Governor
Rationale: The agency is governed by a board of directors
appointed by the Governor, with members representing
various stakeholder groups.
5. Minnesota Housing's primary funding sources include:
A) Property taxes only
B) Bond proceeds, legislative appropriations, and program
revenues
C) Federal grants only
D) Private donations
Answer B: Bond proceeds, legislative appropriations, and
program revenues
