It all seems pretty straightforward — except for the exam. Most people report that the three-hour test is the most difficult part of the real estate licensure process in Michigan. … Your 40 hours of pre-license education should give you all the info you need to ace your exam.
Is the real estate exam difficult?
Real estate exams are designed to be difficult to pass, so they can weed out people who are not going to be skilled agents. Though the pass rate varies based on the state exam, they hover around 50% across the country. This means only about half of the people who take a state licensing exam pass.
Is there math on the Michigan real estate exam?
It includes the Michigan State Specific portion, the PSI portion, real estate MATH ONLY section, and real estate vocabulary only exams. … The Michigan Real Estate Salesperson Exam is one of the hardest state test to pass in the United States.
Which state has the hardest real estate exam?
Colorado is regarded as the hardest state since agents need to cover 160 hours of education, pass two tests, pass a background check, and be fingerprinted. In contrast, most other states require less than 100 education hours, with the majority falling with the 40-hour requirement.
How many questions is the Michigan real estate exam?
The salesperson exam consists of 115 questions. To pass, you must answer correctly at least 70% of the questions. The broker and associate broker exam consists of 120 questions. To pass, you must answer correctly at least 75% of the questions.
Is the Michigan real estate exam multiple choice?
There are 115 multiple-choice questions on the Michigan state licensing exam. You must answer at least 80 questions correctly (70%) in order to pass. There is a 180-minute time-limit for the exam.
Is there a lot of math on the real estate exam?
How Much Math Is on the Real Estate Exam? … While the number of math questions on the exam varies from state-to-state, the total number of math-related questions is somewhere between 10-15%.
Why is it so hard to pass the real estate exam?
These tests are demanding: You may see questions pertaining to the responsibilities of real estate professionals, certain national state and regulations, real estate finance, and real estate ethics, and you may even some moderately complex math problems. Simply put, this is a test that you need to study for.
Is there a lot of math in real estate?
In California, a basic understanding of math is all that’s required to pass the real estate exam. For example, you’ll need to know simple multiplication, addition, and subtraction to calculate things like Net Operating Income (NOI) and property value. All of these are fairly easy to solve.
What questions are on the Michigan real estate exam?
Five of the exam topics are state-specific.
- Contracts – 17% of the Questions.
- General Principles of Agency – 13% of the Questions.
- Practice of Real Estate – 13% of the Questions.
- Financing – 10% of the Questions.
- Real Estate Calculations – 10% of the Questions.
- Property Ownership – 8% of the Questions.
What kind of questions are on the real estate exam?
Some topics that may appear on the exam include:
- Real Property Characteristics.
- Freehold Estates.
- Real Estate Ownership.
- Land and Property Descriptions.
- Monetary and Non-Monetary Incumbrances.
- Local, State, and other Government Restrictions.
- Real Property Liens.
- Agency and Agency Relationships.
Is the real estate test multiple choice?
In general, you should expect your real estate licensing exam to be around 100-150 multiple choice questions; this includes about 60-80 state-specific questions, and about 80-100 questions related to generally universal real estate concepts. You will have between 2-4 hours to complete your exam.
How do you study for the real estate exam?
7 Study Tips for Passing Your Real Estate Exam
- Review What’s on the Exam. …
- Create Digital or Physical Notes for Key Concepts. …
- Read Your Notes. …
- Don’t Reach Out to Practicing Agents. …
- Take Several Practice Real Estate Exams. …
- Understand How To Take Tests. …
- Stay Positive and Upbeat.
Can you get a real estate license in a state you don’t live in?
This is the most cut-and-dry of the three real estate license portability laws. Under Turf State Law, some states don’t allow anyone with an outside real estate license to do business in their market. There are currently six turf states in the U.S.: Kentucky, Missouri, Nebraska, New Jersey, Pennsylvania, and Utah.