Minnesota Real Estate Exam Prep — Ebook with Full Explanations (EPUB + PDF)

Minnesota real estate salesperson exam: 300 original practice questions covering both the national portion and the Minnesota state portion, with an explanation for every wrong answer as well as for the right one.

This is a question bank, not a textbook. It is built for the stage after the pre-licensing course, when what is left is finding out which answers are wrong, and why.

Which exam this book is for

It is written for the Minnesota real estate salesperson licensing exam, delivered by PSI for the Minnesota Department of Commerce, to the content outlines in the candidate information bulletin dated 1 October 2023. It covers both portions: the national (general) portion (80 scored questions, 150 minutes) and the Minnesota state portion (50 scored questions, 90 minutes). Each portion is scored separately, and the bulletin sets the passing mark at 75 percent on each.

How the book is organised

• 185 questions on the national portion in 11 chapters, one per outline section: Property Ownership; Land Use Controls; Valuation; Financing; Contracts; Agency; Property Disclosures; Property Management; Transfer of Title; Practice of Real Estate; Real Estate Calculations.
• 115 questions on Minnesota law in 4 chapters, one per state outline section: Real Estate Brokerage License Law; Interests in Real Property; Conveyance Procedures and Protection of Parties; Financial Instruments: Obligations, Rights, Remedies.
• A 22-question diagnostic that returns a study order rather than a score, weighted by the outlines, so a gap in Real Estate Brokerage License Law, half of the state outline, outranks a gap in Property Management at 3 percent of the national portion.
• Two practice exams of 119 questions each, 73 national and 46 state, mixed in the outlines' proportions. The real exam has 130 scored questions (80 national and 50 state), times the portions separately and adds unscored pretest questions.
• A second-best-answer drill, a misconception index, an outline cross-reference and a glossary.

What is different about the explanations

Most prep books explain the correct answer and leave the other three alone. Every explanation here does four things: why the key is right, traced to the outline topic it came from; why each wrong option was tempting, naming the misconception behind it; the detail in the question that rules that option out; and the one line that separates the key from the next-best option. On a scenario exam the failure mode is rarely ignorance. It is choosing the second-best answer.

Written to the published content outlines

Every question traces to a topic in the Minnesota salesperson content outlines. The Minnesota questions are written from the state's own statutes: chapter 82 on real estate brokers and salespersons, the Department of Commerce's powers in chapter 45, the landlord and tenant law in chapter 504B, and the Minnesota laws on co-ownership, recording, mechanic's liens, statutory home warranties, the deed and mortgage registry taxes, the statute of frauds and human rights. The national questions draw on federal fair housing, lending, closing disclosure, appraisal, flood insurance and lead-based paint rules, EPA guidance on radon, mold and asbestos, the FHA handbook, the IRS rental property publication, the federal surveying manual and open textbooks on property law, agency and mathematics. Where Minnesota law answers a question differently from the general rule, the answer follows Minnesota law. No question is taken from, or modelled on, any real exam question. The diagnostic, the two practice exams and the drill draw on the same bank, so 300 is the number of distinct questions in the book rather than a count of repeats.

No book can promise a result. This one shows which answers are wrong, and what the wrong answer was built out of, before the exam asks.

This book is an independent study aid. It is not affiliated with, endorsed by, or approved by the Minnesota Department of Commerce or PSI Services LLC.

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