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Michigan Real Estate Practice Test
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Michigan Real Estate Practice Test
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20 Questions

1. The regulation of land use, typically practiced at the township or municipal level and justified by the police powers of the state, is called?
2. When showing houses to potential buyers who have not yet signed an exclusive buyer agency agreement, the licensee is:
3. Randall purchased the NE 1/4 of Section 4 and the South 1/2 of Section 9 in Algoma Township, Michigan. How many acres did Randall purchase?
4. The home valuation method where similar homes recently sold or currently on the market are used to determine a market value sales price for a subject property is:
5. The title of a property is considered successfully transferred when:
6. Which is the correct list of an agent's fiduciary duties to their clients?
7. A homeowner's equity in the home is calculated:
8. Salesperson Tony is showing houses to his clients, Mark and Janice. Janice informs Tony that she doesn't want to purchase a property in a neighborhood with black residents. Tony should:
9. Salesperson Ryan wrote a purchase agreement for his buyers, but he mistakenly used the wrong postal address for the property being purchased. The contract is now:
10. Licensees must complete a minimum of _____ hours of approved continuing education on laws, regulations, and court cases during any one year of a license cycle.
11. The function of the secondary mortgage market is to:
12. Attempting to evict a tenant because he or she filed a complaint against the landlord is an example of a(n):
13. Sonja is a real estate sales agent in Michigan. She is working with Tom to help him purchase vacant land. Susan has signed a buyer's service provision with Tom. Tom is Sonja's ____ and Sonja is Tom's _____ ?
14. The process of voiding a valid contract and replacing it with another valid contract, alleviating the parties of the first contract from all contractual responsibilities is called:
15. A property owned by one individual, with no co-owners, is an example of:
16. The formal agency relationship between the client and agent is created:
17. Concerning property disclosure rules, a material fact is best described as:
18. The Department receives a complaint against licensed salesperson Todd. The Department can immediately take any of these actions except:
19. The Michigan Occupational Code requires real estate brokers and salespersons to present offers to sellers:
20. The Michigan Right to Farm Act relates to which activities?

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