Michigan Real Estate Exam
All of the following include a real estate interest except:
A. Apple trees
B. Farm equipment
C. Air rights
D. Barns - correct answer ✔✔B. Farm equipment
An owner of a 90 acre parcel of land wishes to split the land without platting. Under the michigan land
devision act, how many parcels may this owner get if he does not create any new roads?
A. 12
B. 14
C. 10
D. 8 - correct answer ✔✔A. 12
In estimating the value of a single-family home, an appraiser would most likely use which approach?
A. Income
B. Capitalization Rate
C. Gross Rent
D. Market - correct answer ✔✔D. Market
at the closing table, A land contract vendee receives which of the following rights?
A. Redemption
B. Laches
C. Legal Title
D. Possession - correct answer ✔✔D. Possession
A Section Contains:
,A. 460 acres
B. 43,560 sq. ft.
C. 650 acres
D. 27,878,400 sq. ft. - correct answer ✔✔D. 27,878,400 sq. ft.
all of the following could cause economic obsolescence except:
A. a nearby factory
B. high-interest rates
C. aging kitchen
D. air pollution - correct answer ✔✔C. aging kitchen
all but which of the following must be disclosed on the seller's disclosure?
A. A farm operation in the vicinity
B. The presence of high levels of radon gas or asbestos
C. The presence of underground storage tanks
D. The house was a crack house - correct answer ✔✔D. the house was a crack house
Agent Fanny believes seller Henry is unrealistic about the pricing of his house and refuses the listing.
Fannys actions are:
A. illegal due to Federal Fair Housing Laws
B. Illegal due to price-fixing
C. Legal because she can refuse a listing if not marketable
D. Illegal due to uniform vendor and purchaser risk act - correct answer ✔✔C. Legal because she can
refuse a listing if not marketable
Dower rights apply to:
A. all widows
B. a wife
C. a window not on the title
, D. A single man who dies instate - correct answer ✔✔C. a window not on the title
an applicant for a real estate license in Michigan must:
A. have 2 years of college
B. pass a national exam
C. Be of good moral character
D. Be at least 21 - correct answer ✔✔C. Be of good moral character
a buyer usually pays all the following except
A. Appraisal fee
B. Transfer tax
C. Credit Report
D. Origination fee - correct answer ✔✔B. Transfer tax
to obtain a Michigan broker's license a non-resident must
A. have a license in another state
B. File an irrevocable consent with his resident state
C. Transfer his license from the other state
D. Establish a principle place of business in Michigan - correct answer ✔✔D. Establish a principle place of
business in Michigan
you could have your Michigan real estate license revoked for all of the following except
A. putting escrow money in your savings account
B. Running a blind advertisement
C. Charging a commission higher than other brokers
D. Being found guilty of a felony - correct answer ✔✔C. Charging a commission higher than other
brokers
you are showing homes to a buyer customer, you would not be required to:
All of the following include a real estate interest except:
A. Apple trees
B. Farm equipment
C. Air rights
D. Barns - correct answer ✔✔B. Farm equipment
An owner of a 90 acre parcel of land wishes to split the land without platting. Under the michigan land
devision act, how many parcels may this owner get if he does not create any new roads?
A. 12
B. 14
C. 10
D. 8 - correct answer ✔✔A. 12
In estimating the value of a single-family home, an appraiser would most likely use which approach?
A. Income
B. Capitalization Rate
C. Gross Rent
D. Market - correct answer ✔✔D. Market
at the closing table, A land contract vendee receives which of the following rights?
A. Redemption
B. Laches
C. Legal Title
D. Possession - correct answer ✔✔D. Possession
A Section Contains:
,A. 460 acres
B. 43,560 sq. ft.
C. 650 acres
D. 27,878,400 sq. ft. - correct answer ✔✔D. 27,878,400 sq. ft.
all of the following could cause economic obsolescence except:
A. a nearby factory
B. high-interest rates
C. aging kitchen
D. air pollution - correct answer ✔✔C. aging kitchen
all but which of the following must be disclosed on the seller's disclosure?
A. A farm operation in the vicinity
B. The presence of high levels of radon gas or asbestos
C. The presence of underground storage tanks
D. The house was a crack house - correct answer ✔✔D. the house was a crack house
Agent Fanny believes seller Henry is unrealistic about the pricing of his house and refuses the listing.
Fannys actions are:
A. illegal due to Federal Fair Housing Laws
B. Illegal due to price-fixing
C. Legal because she can refuse a listing if not marketable
D. Illegal due to uniform vendor and purchaser risk act - correct answer ✔✔C. Legal because she can
refuse a listing if not marketable
Dower rights apply to:
A. all widows
B. a wife
C. a window not on the title
, D. A single man who dies instate - correct answer ✔✔C. a window not on the title
an applicant for a real estate license in Michigan must:
A. have 2 years of college
B. pass a national exam
C. Be of good moral character
D. Be at least 21 - correct answer ✔✔C. Be of good moral character
a buyer usually pays all the following except
A. Appraisal fee
B. Transfer tax
C. Credit Report
D. Origination fee - correct answer ✔✔B. Transfer tax
to obtain a Michigan broker's license a non-resident must
A. have a license in another state
B. File an irrevocable consent with his resident state
C. Transfer his license from the other state
D. Establish a principle place of business in Michigan - correct answer ✔✔D. Establish a principle place of
business in Michigan
you could have your Michigan real estate license revoked for all of the following except
A. putting escrow money in your savings account
B. Running a blind advertisement
C. Charging a commission higher than other brokers
D. Being found guilty of a felony - correct answer ✔✔C. Charging a commission higher than other
brokers
you are showing homes to a buyer customer, you would not be required to:
