2024 /2025 | © copyright | This work may not be copied for profit gain Excel!
Montana Real Estate Exam Questions and
Correct Answers | Latest Update
Who is not Required to have a Real Estate License
✓ -:- An auctioneer employed by owner
✓ an executor of an estate (acting under court order)
✓ government employee
✓ owners or lessors of their own property
Who is Required to have a Real Estate License
✓ -:- broker of salesperson to negotiate sale or lease
✓ (without or without the expectation of getting paid)
✓ anyone showing someone else's property
The Board
✓ -:- Consists of seven people appointed by the governor
does not involve itself with commission disputes
does give advice regarding trust accounting rules
The Boards rules
1 | P a g e | G r a d e A + | 2 0 0 2 5
,2024 /2025 | © copyright | This work may not be copied for profit gain Excel!
✓ -:- The Boards rules are laws; violations are misdemeanors
The Board has the power to
✓ -:- subpoena documents
issue and injunction against any licensee
place a licensee on probation
suspend a license for one year
permanently revoke a license
If a broker's license is suspended
✓ -:- The board sends a stop order, cease and desist
Property Manager is
✓ -:- a person who will only lease property but not represent sellers of
buyers
may obtain a restricted Property Manager license and operate without a Supervising Broker
A licensed property manager cannot
2 | P a g e | G r a d e A + | 2 0 0 2 5
, 2024 /2025 | © copyright | This work may not be copied for profit gain Excel!
✓ -:- represent sellers or buyers
collect a referral fee for sending sellers or buyers to a broker
A Property Manager's license
✓ -:- is not needed buy a close relative of a property owner
a manager who works for only one owner
a person who managers not more than four residential units
a resident manager who is compensated with reduced rent
Brokers and Salespeople
✓ -:- may manage property without a property manager license
Brokers may
✓ -:- represent a seller or buyer by obtaining a written (listing or buyer
agency) agreement
represent the statutes of Montana
Broker is statutory if
3 | P a g e | G r a d e A + | 2 0 0 2 5
Montana Real Estate Exam Questions and
Correct Answers | Latest Update
Who is not Required to have a Real Estate License
✓ -:- An auctioneer employed by owner
✓ an executor of an estate (acting under court order)
✓ government employee
✓ owners or lessors of their own property
Who is Required to have a Real Estate License
✓ -:- broker of salesperson to negotiate sale or lease
✓ (without or without the expectation of getting paid)
✓ anyone showing someone else's property
The Board
✓ -:- Consists of seven people appointed by the governor
does not involve itself with commission disputes
does give advice regarding trust accounting rules
The Boards rules
1 | P a g e | G r a d e A + | 2 0 0 2 5
,2024 /2025 | © copyright | This work may not be copied for profit gain Excel!
✓ -:- The Boards rules are laws; violations are misdemeanors
The Board has the power to
✓ -:- subpoena documents
issue and injunction against any licensee
place a licensee on probation
suspend a license for one year
permanently revoke a license
If a broker's license is suspended
✓ -:- The board sends a stop order, cease and desist
Property Manager is
✓ -:- a person who will only lease property but not represent sellers of
buyers
may obtain a restricted Property Manager license and operate without a Supervising Broker
A licensed property manager cannot
2 | P a g e | G r a d e A + | 2 0 0 2 5
, 2024 /2025 | © copyright | This work may not be copied for profit gain Excel!
✓ -:- represent sellers or buyers
collect a referral fee for sending sellers or buyers to a broker
A Property Manager's license
✓ -:- is not needed buy a close relative of a property owner
a manager who works for only one owner
a person who managers not more than four residential units
a resident manager who is compensated with reduced rent
Brokers and Salespeople
✓ -:- may manage property without a property manager license
Brokers may
✓ -:- represent a seller or buyer by obtaining a written (listing or buyer
agency) agreement
represent the statutes of Montana
Broker is statutory if
3 | P a g e | G r a d e A + | 2 0 0 2 5
