Minnesota (MN) Real Estate Exam Study Guide |
Complete Actual Exam Questions with 100%
Verified Correct Answers and Detailed Rationales |
Latest Update 2026/2027 Edition - Already Graded
A+
SECTION 1: PRE-LICENSING REQUIREMENTS & LICENSING
Q1. How many total hours of approved pre-licensing education are required for
a Minnesota real estate salesperson license?
A) 60 hours
B) 75 hours
C) 90 hours
D) 120 hours
Correct Answer: C
Rationale: Minnesota requires 90 hours of approved pre-licensing education,
divided into three 30-hour courses (Course I, II, and III) .
Q2. According to Minnesota law, which course must be completed first before
proceeding to the remaining pre-license courses?
A) Course I (Fundamentals of Real Estate Principles)
B) Course II (Real Estate Practice)
C) Course III (Specialty Topics)
D) Any course in any order
Correct Answer: A
,Rationale: Course I, covering fundamentals of real estate principles and practices,
must be completed first before a student may proceed to the remaining pre-license
courses .
Q3. What is the minimum age requirement to become a licensed real estate
salesperson in Minnesota?
A) 16 years old
B) 17 years old
C) 18 years old
D) 21 years old
Correct Answer: C
Rationale: Applicants must be at least 18 years of age or older to qualify for a
Minnesota real estate license.
Q4. A student has completed Course I and passed the course final exam. Can
they take the state licensing exam?
A) No, all courses must be completed first
B) Yes, the licensing exam may be taken after Course I
C) Yes, but only the state portion
D) No, they must complete the 15-hour post-license course first
Correct Answer: B
Rationale: Candidates may take the licensing exam after completing Course I.
Course II and III must be completed before applying for a license .
Q5. What is the minimum passing score for the course final exam in Minnesota
pre-licensing education?
,A) 70%
B) 75%
C) 80%
D) 85%
Correct Answer: B
Rationale: The course final exam requires a minimum passing score of 75%, and it
must be taken in the presence of a proctor .
Q6. What are the minimum experience requirements to qualify for a broker
license in Minnesota?
A) 3 years of active licensed experience + 30 hours of broker pre-license
education
B) 2 years + 60 hours of broker pre-license education
C) 5 years with no additional education required
D) 1 year + 90 hours of broker pre-license education
Correct Answer: A
Rationale: To qualify for a Minnesota broker license, an applicant must have at
least 3 years of active experience as a licensed salesperson and complete 30 hours
of broker-specific pre-license education .
Q7. What is the continuing education requirement for Minnesota real estate
licensees during each 2-year renewal period?
A) 30 hours, with no annual requirements
B) 20 hours with no annual requirement
C) 12 credit hours biennially
D) 24 hours with 12 hours required each year
Correct Answer: C
, Rationale: Minnesota requires 12 continuing education credit hours every two
years (biennially), covering law, ethics, and other required topics .
Q8. Under Minnesota CE requirements, which mandatory topics must be
included in continuing education courses each renewal period?
A) 2 hours of agency law and 2 hours of ethics
B) 4 hours of fair housing and 4 hours of contracts
C) At least 1 hour on agency law and at least 1 hour on fair housing
D) 3 hours of agency law and 3 hours of disclosure
Correct Answer: C
Rationale: Minnesota's CE requirements include at least 1 hour on agency law and
at least 1 hour on fair housing during each renewal period .
Q9. Where must a real estate broker maintain client trust account funds under
Minnesota law?
A) In an FDIC-insured financial institution located in Minnesota
B) In any federally insured bank regardless of state location
C) In a state-chartered Minnesota credit union only
D) In a separate account at any licensed depository institution
Correct Answer: A
Rationale: Minnesota law requires that trust account funds be held in an FDIC-
insured financial institution physically located within Minnesota.
Q10. How often must a Minnesota broker perform trust account reconciliations?
A) Monthly
B) Quarterly
Complete Actual Exam Questions with 100%
Verified Correct Answers and Detailed Rationales |
Latest Update 2026/2027 Edition - Already Graded
A+
SECTION 1: PRE-LICENSING REQUIREMENTS & LICENSING
Q1. How many total hours of approved pre-licensing education are required for
a Minnesota real estate salesperson license?
A) 60 hours
B) 75 hours
C) 90 hours
D) 120 hours
Correct Answer: C
Rationale: Minnesota requires 90 hours of approved pre-licensing education,
divided into three 30-hour courses (Course I, II, and III) .
Q2. According to Minnesota law, which course must be completed first before
proceeding to the remaining pre-license courses?
A) Course I (Fundamentals of Real Estate Principles)
B) Course II (Real Estate Practice)
C) Course III (Specialty Topics)
D) Any course in any order
Correct Answer: A
,Rationale: Course I, covering fundamentals of real estate principles and practices,
must be completed first before a student may proceed to the remaining pre-license
courses .
Q3. What is the minimum age requirement to become a licensed real estate
salesperson in Minnesota?
A) 16 years old
B) 17 years old
C) 18 years old
D) 21 years old
Correct Answer: C
Rationale: Applicants must be at least 18 years of age or older to qualify for a
Minnesota real estate license.
Q4. A student has completed Course I and passed the course final exam. Can
they take the state licensing exam?
A) No, all courses must be completed first
B) Yes, the licensing exam may be taken after Course I
C) Yes, but only the state portion
D) No, they must complete the 15-hour post-license course first
Correct Answer: B
Rationale: Candidates may take the licensing exam after completing Course I.
Course II and III must be completed before applying for a license .
Q5. What is the minimum passing score for the course final exam in Minnesota
pre-licensing education?
,A) 70%
B) 75%
C) 80%
D) 85%
Correct Answer: B
Rationale: The course final exam requires a minimum passing score of 75%, and it
must be taken in the presence of a proctor .
Q6. What are the minimum experience requirements to qualify for a broker
license in Minnesota?
A) 3 years of active licensed experience + 30 hours of broker pre-license
education
B) 2 years + 60 hours of broker pre-license education
C) 5 years with no additional education required
D) 1 year + 90 hours of broker pre-license education
Correct Answer: A
Rationale: To qualify for a Minnesota broker license, an applicant must have at
least 3 years of active experience as a licensed salesperson and complete 30 hours
of broker-specific pre-license education .
Q7. What is the continuing education requirement for Minnesota real estate
licensees during each 2-year renewal period?
A) 30 hours, with no annual requirements
B) 20 hours with no annual requirement
C) 12 credit hours biennially
D) 24 hours with 12 hours required each year
Correct Answer: C
, Rationale: Minnesota requires 12 continuing education credit hours every two
years (biennially), covering law, ethics, and other required topics .
Q8. Under Minnesota CE requirements, which mandatory topics must be
included in continuing education courses each renewal period?
A) 2 hours of agency law and 2 hours of ethics
B) 4 hours of fair housing and 4 hours of contracts
C) At least 1 hour on agency law and at least 1 hour on fair housing
D) 3 hours of agency law and 3 hours of disclosure
Correct Answer: C
Rationale: Minnesota's CE requirements include at least 1 hour on agency law and
at least 1 hour on fair housing during each renewal period .
Q9. Where must a real estate broker maintain client trust account funds under
Minnesota law?
A) In an FDIC-insured financial institution located in Minnesota
B) In any federally insured bank regardless of state location
C) In a state-chartered Minnesota credit union only
D) In a separate account at any licensed depository institution
Correct Answer: A
Rationale: Minnesota law requires that trust account funds be held in an FDIC-
insured financial institution physically located within Minnesota.
Q10. How often must a Minnesota broker perform trust account reconciliations?
A) Monthly
B) Quarterly
