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Montana Real Estate Salesperson — Requirements & Free Practice

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Real Estate Salesperson

Montana real estate salesperson license; inactive status and restoration retain this license identity.

Licensing authority: Montana Board of Realty Regulation / Department of Labor and Industry · Application information

Annual renewal of active license
No examination is required for this applicant pathway.
Basis
MCA 37-1-141(2) defines renewal by form, certification/continuing education compliance, and fees; it imposes no licensure examination.
Continuing Education
12 hours of approved continuing real estate education per licensing year, without carryover. Salespersons licensed less than 12 months at first renewal are exempt under amended ARM 24.210.667(6).
Deadline
Renew by October 31 annually; submit completed renewal form and fee.
Insurance
Provide proof of professional liability and errors and omissions coverage under MCA 37-51-325(8).

Official no-examination sources

Effective from 2026-09-22.

Licensure by endorsement / out of state waiver process
Active License
Hold a current active license in good standing in another jurisdiction.
Application
Submit the Board-approved application and fee; explain affirmative discipline answers and provide source documentation.
Character
The Board must find good repute and competency; supply requested honesty, trustworthiness, and competency information.
Equivalency
MCA 37-1-304 requires substantially equivalent qualifications measured at application; the Board considers actual qualifications and work experience to address deficiencies.
Handbook Timing Statement
Pearson handbook p. 14 states: “Exam results are good for three (3) years from the date of passing the exam.” The statutory and Board-rule 12-month limits control.
Insurance
For active licensure, provide continuous professional liability and errors and omissions coverage meeting MCA 37-51-325.
License Verification
Provide verification if a real estate license is or was held in another jurisdiction. The checklist requests verification of all professional licenses ever held.
Minimum Age
At least 18 years old.
National Credit
Whether the Board credits an earlier approved national examination or excuses a new sitting is applicant-specific; previous passing scores do not themselves remove currently offered registered examinations.
Prelicensing Education
The ordinary rule specifies 70 hours within 24 months; credited education, experience, and deficiency remediation for an out-of-state applicant are subject to the statutory substantial-equivalency determination and Board waiver process.
School Education
Credit for two years of full curriculum study at an accredited high school or Board-determined equivalent.
Score Timing
ARM 24.210.611(3) requires application within 12 months after examination; MCA 37-51-303(2)(b) requires the remaining portion within 12 months after the first passed portion.
Supervising Broker
Provide the proposed supervising broker’s certification of good repute and acceptance of supervision; be employed or under contract with a broker holding a supervising broker endorsement.
Waiver Process Instruction
Board checklist p. 1, Out-of-State Licensee/Waiver Process: “Exam results of passing the Montana state portion of the Salesperson examination.” This implementing checklist lists only the state portion. Adopted ARM 24.210.602(1) requires both national and Montana examinations; both remain referenced on the higher-ranked rule’s terms.
Reactivation of an expired license
No examination is required for this applicant pathway.
Basis
MCA 37-1-141(3)–(5) defines reactivation through renewal and education compliance without an examination.
Education
Meet certification and educational requirements; expired licenses require accrued requirements since last grant or renewal.
Renewal Process
Submit completed renewal form, late penalty fee, and current renewal fee.
Time Window
Within two years after the renewal date.

Official no-examination sources

Effective from 2026-09-22.

Annual renewal while inactive
No examination is required for this applicant pathway.
Basis
MCA 37-1-141(2) and ARM 24.210.624 define inactive renewal without a licensure examination.
Inactive Status
Renew annually and do not practice licensed activities.
Renewal
Submit renewal form and inactive renewal fee; continuing education is required before return to active status.

Official no-examination sources

Effective from 2026-09-22.

Return an inactive license to active status
No examination is required for this applicant pathway.
Application
Request active status using a Board-approved form and pay the required fee.
Basis
ARM 24.210.624(6)(a)–(d) enumerates all reactivation conditions without an examination; heading and operative conditions are separate quotes across the page break.
Continuing Education
Complete the education that would have been required while active, capped at 24 credits.
Insurance
Submit current professional liability and errors and omissions insurance proof.
Supervision
Maintain the supervising broker relationship required by MCA 37-51-302.

Official no-examination sources

Effective from 2026-09-22.

Initial licensure by examination
Application
Submit the Board-approved application and fee; explain affirmative discipline answers and provide source documentation.
Character
The Board must find good repute and competency; supply requested honesty, trustworthiness, and competency information.
Handbook Timing Statement
Pearson handbook p. 14 states: “Exam results are good for three (3) years from the date of passing the exam.” The statutory and Board-rule 12-month limits control.
Insurance
For active licensure, provide continuous professional liability and errors and omissions coverage meeting MCA 37-51-325.
License Verification
Provide verification if a real estate license is or was held in another jurisdiction. The checklist requests verification of all professional licenses ever held.
Minimum Age
At least 18 years old.
Prelicensing Education
70 hours of approved prelicensing education within the 24 months before application; satisfactorily pass the examination for each course.
School Education
Credit for two years of full curriculum study at an accredited high school or Board-determined equivalent.
Score Timing
ARM 24.210.611(3) requires application within 12 months after examination; MCA 37-51-303(2)(b) requires the remaining portion within 12 months after the first passed portion.
Supervising Broker
Provide the proposed supervising broker’s certification of good repute and acceptance of supervision; be employed or under contract with a broker holding a supervising broker endorsement.
Reactivation of a lapsed license
No examination is required for this applicant pathway.
Basis
MCA 37-1-141(3)–(5) defines reactivation through renewal and education compliance without an examination.
Education
Meet certification and educational requirements; expired licenses require accrued requirements since last grant or renewal.
Renewal Process
Submit completed renewal form, late penalty fee, and current renewal fee.
Time Window
Within 45 days after the renewal date.

Official no-examination sources

Effective from 2026-09-22.

Renewal with activated military personnel exemptions
No examination is required for this applicant pathway.
Basis
The full text of MCA 37-1-146(1) was inspected despite its short-page warning; read with MCA 37-1-141(2), it adds no examination.
Exemptions
MCA 37-1-146(1) waives renewal and late fees and continuing education/certification requirements for a renewal cycle within active duty and six months afterward; renewal form obligations remain.
Military Proof
Provide notice and proof of deployment to federally funded active duty for more than 90 consecutive days.

Official no-examination sources

Effective from 2026-09-22.

Military member, military spouse, or veteran permanent reciprocity
Active License
Hold a current active license in good standing in another jurisdiction.
Application
Submit the Board-approved application and fee; explain affirmative discipline answers and provide source documentation.
Character
The Board must find good repute and competency; supply requested honesty, trustworthiness, and competency information.
Equivalency
MCA 37-1-304 requires substantially equivalent qualifications measured at application; the Board considers actual qualifications and work experience to address deficiencies.
Handbook Timing Statement
Pearson handbook p. 14 states: “Exam results are good for three (3) years from the date of passing the exam.” The statutory and Board-rule 12-month limits control.
Insurance
For active licensure, provide continuous professional liability and errors and omissions coverage meeting MCA 37-51-325.
License Verification
Provide verification if a real estate license is or was held in another jurisdiction. The checklist requests verification of all professional licenses ever held.
Military Eligibility
Meet the military-status, spouse, or relocation eligibility in MCA 37-1-147(1), with an out-of-state or territory license in good standing and no disqualifying pending charges or final discipline under subsection (3).
Military Equivalency
The Board may issue a permanent license on determining substantially equivalent requirements under MCA 37-1-147(2)(a).
Minimum Age
At least 18 years old.
National Credit
Whether the Board credits an earlier approved national examination or excuses a new sitting is applicant-specific; previous passing scores do not themselves remove currently offered registered examinations.
Prelicensing Education
The ordinary rule specifies 70 hours within 24 months; credited education, experience, and deficiency remediation for an out-of-state applicant are subject to the statutory substantial-equivalency determination and Board waiver process.
School Education
Credit for two years of full curriculum study at an accredited high school or Board-determined equivalent.
Score Timing
ARM 24.210.611(3) requires application within 12 months after examination; MCA 37-51-303(2)(b) requires the remaining portion within 12 months after the first passed portion.
Supervising Broker
Provide the proposed supervising broker’s certification of good repute and acceptance of supervision; be employed or under contract with a broker holding a supervising broker endorsement.
Waiver Process Instruction
Board checklist p. 1, Out-of-State Licensee/Waiver Process: “Exam results of passing the Montana state portion of the Salesperson examination.” This implementing checklist lists only the state portion. Adopted ARM 24.210.602(1) requires both national and Montana examinations; both remain referenced on the higher-ranked rule’s terms.
Initial licensure with military education, training, or service credit
Application
Submit the Board-approved application and fee; explain affirmative discipline answers and provide source documentation.
Character
The Board must find good repute and competency; supply requested honesty, trustworthiness, and competency information.
Handbook Timing Statement
Pearson handbook p. 14 states: “Exam results are good for three (3) years from the date of passing the exam.” The statutory and Board-rule 12-month limits control.
Insurance
For active licensure, provide continuous professional liability and errors and omissions coverage meeting MCA 37-51-325.
License Verification
Provide verification if a real estate license is or was held in another jurisdiction. The checklist requests verification of all professional licenses ever held.
Military Credit
Provide satisfactory evidence of relevant military education, training, or service; MCA 37-1-145 requires acceptance toward qualifications. Its short-page warning was inspected and its complete operative text is present.
Minimum Age
At least 18 years old.
Prelicensing Education
70 hours of approved prelicensing education within the 24 months before application; satisfactorily pass the examination for each course.
School Education
Credit for two years of full curriculum study at an accredited high school or Board-determined equivalent.
Score Timing
ARM 24.210.611(3) requires application within 12 months after examination; MCA 37-51-303(2)(b) requires the remaining portion within 12 months after the first passed portion.
Supervising Broker
Provide the proposed supervising broker’s certification of good repute and acceptance of supervision; be employed or under contract with a broker holding a supervising broker endorsement.
New original license after administrative termination
Application
Submit the Board-approved application and fee; explain affirmative discipline answers and provide source documentation.
Character
The Board must find good repute and competency; supply requested honesty, trustworthiness, and competency information.
Handbook Timing Statement
Pearson handbook p. 14 states: “Exam results are good for three (3) years from the date of passing the exam.” The statutory and Board-rule 12-month limits control.
Insurance
For active licensure, provide continuous professional liability and errors and omissions coverage meeting MCA 37-51-325.
License Verification
Provide verification if a real estate license is or was held in another jurisdiction. The checklist requests verification of all professional licenses ever held.
Minimum Age
At least 18 years old.
Prelicensing Education
70 hours of approved prelicensing education within the 24 months before application; satisfactorily pass the examination for each course.
School Education
Credit for two years of full curriculum study at an accredited high school or Board-determined equivalent.
Score Timing
ARM 24.210.611(3) requires application within 12 months after examination; MCA 37-51-303(2)(b) requires the remaining portion within 12 months after the first passed portion.
Supervising Broker
Provide the proposed supervising broker’s certification of good repute and acceptance of supervision; be employed or under contract with a broker holding a supervising broker endorsement.
Terminated License
A license not renewed within two years ordinarily terminates and cannot be reactivated; obtain a new original license under current requirements.
Place an existing license on inactive status
No examination is required for this applicant pathway.
Basis
ARM 24.210.624(1) defines inactive status without an examination; inactive status retains the existing license identity.
Eligibility
An existing salesperson not engaged in licensed activities may request inactive status and pay the required fee. The adopted redline is read with deleted text excluded.
Inactive Duties
Notify the Board of address changes and renew annually. Compensation may be received if earned while active or as seller of a brokerage business.

Official no-examination sources

Effective from 2026-09-22.

Conditional continued retention after activated reservist service
No examination is required for this applicant pathway.
Basis
MCA 37-1-138(4)–(5) defines continued retention through Board-imposed conditions and identifies no examination; those conditions remain applicant conditions.
Military Eligibility
A reservist returning from federal active duty whose position, duties, and service length are evaluated under MCA 37-1-138(4).
Retention Conditions
The Board attaches individualized conditions under MCA 37-1-138(4)(c)(ii) and may adopt rules under subsection (5)(a); the applicant may request a hearing within 90 days.

Official no-examination sources

Effective from 2026-09-22.

Full restoration after activated reservist service
No examination is required for this applicant pathway.
Basis
MCA 37-1-138(4)(c)(i) expressly provides full restoration after document evaluation without requiring an examination. Conditional-retention cases are a separate secondary note.
Board Evaluation
The Board evaluates military position, duties, service length, and professional requirements; this route is the full-restoration branch in MCA 37-1-138(4)(c)(i).
Service Status
An activated reservist whose inactive license was protected provides discharge documents after federal active duty.

Official no-examination sources

Effective from 2026-09-22.

Reactivation of a terminated military deployment license
No examination is required for this applicant pathway.
Basis
The obtained complete text of MCA 37-1-146(2) defines this special reactivation process through Board-imposed competency conditions without naming an examination; unnamed competency conditions remain applicant conditions.
Competency Conditions
The Board may impose reasonable conditions to demonstrate competency, with notice and opportunity for a hearing under MCA 37-1-309. These individualized conditions must be satisfied; the governing statute identifies no particular examination.
Military Eligibility
A deployed military licensee covered by MCA 37-1-146(1) whose license terminated under MCA 37-1-141.

Official no-examination sources

Effective from 2026-09-22.

Temporary license — Real Estate Salesperson

Temporary salesperson license for eligible military applicants under MCA 37-1-147(2)(b).

Licensing authority: Montana Board of Realty Regulation / Department of Labor and Industry · Application information

Temporary military reciprocity while completing Board requirements
Active License
Hold a current active license in good standing in another jurisdiction.
Application
Submit the Board-approved application and fee; explain affirmative discipline answers and provide source documentation.
Character
The Board must find good repute and competency; supply requested honesty, trustworthiness, and competency information.
Equivalency
MCA 37-1-304 requires substantially equivalent qualifications measured at application; the Board considers actual qualifications and work experience to address deficiencies.
Handbook Timing Statement
Pearson handbook p. 14 states: “Exam results are good for three (3) years from the date of passing the exam.” The statutory and Board-rule 12-month limits control.
Insurance
For active licensure, provide continuous professional liability and errors and omissions coverage meeting MCA 37-51-325.
License Verification
Provide verification if a real estate license is or was held in another jurisdiction. The checklist requests verification of all professional licenses ever held.
Military Eligibility
Meet MCA 37-1-147(1) and (3); the Board has found the outside jurisdiction’s requirements not substantially equivalent.
Minimum Age
At least 18 years old.
National Credit
Whether the Board credits an earlier approved national examination or excuses a new sitting is applicant-specific; previous passing scores do not themselves remove currently offered registered examinations.
Prelicensing Education
The ordinary rule specifies 70 hours within 24 months; credited education, experience, and deficiency remediation for an out-of-state applicant are subject to the statutory substantial-equivalency determination and Board waiver process.
School Education
Credit for two years of full curriculum study at an accredited high school or Board-determined equivalent.
Score Timing
ARM 24.210.611(3) requires application within 12 months after examination; MCA 37-51-303(2)(b) requires the remaining portion within 12 months after the first passed portion.
Supervising Broker
Provide the proposed supervising broker’s certification of good repute and acceptance of supervision; be employed or under contract with a broker holding a supervising broker endorsement.
Temporary Requirements
The Board may authorize temporary practice while specific requirements are completed under MCA 37-1-147(2)(b). Credited prior examinations, remaining deficiencies, and time/supervision limits depend on the Board’s conditions.
Waiver Process Instruction
Board checklist p. 1, Out-of-State Licensee/Waiver Process: “Exam results of passing the Montana state portion of the Salesperson examination.” This implementing checklist lists only the state portion. Adopted ARM 24.210.602(1) requires both national and Montana examinations; both remain referenced on the higher-ranked rule’s terms.

Probationary license — Real Estate Salesperson

Salesperson license issued on probation for no more than three years under MCA 37-1-312(1)(h).

Licensing authority: Montana Board of Realty Regulation / Department of Labor and Industry · Application information

Probationary endorsement
Active License
Hold a current active license in good standing in another jurisdiction.
Application
Submit the Board-approved application and fee; explain affirmative discipline answers and provide source documentation.
Character
The Board must find good repute and competency; supply requested honesty, trustworthiness, and competency information.
Equivalency
MCA 37-1-304 requires substantially equivalent qualifications measured at application; the Board considers actual qualifications and work experience to address deficiencies.
Handbook Timing Statement
Pearson handbook p. 14 states: “Exam results are good for three (3) years from the date of passing the exam.” The statutory and Board-rule 12-month limits control.
Insurance
For active licensure, provide continuous professional liability and errors and omissions coverage meeting MCA 37-51-325.
License Verification
Provide verification if a real estate license is or was held in another jurisdiction. The checklist requests verification of all professional licenses ever held.
Minimum Age
At least 18 years old.
National Credit
Whether the Board credits an earlier approved national examination or excuses a new sitting is applicant-specific; previous passing scores do not themselves remove currently offered registered examinations.
Prelicensing Education
The ordinary rule specifies 70 hours within 24 months; credited education, experience, and deficiency remediation for an out-of-state applicant are subject to the statutory substantial-equivalency determination and Board waiver process.
Probationary Order
The Board orders probationary issuance after unprofessional conduct or stipulation. The period may not exceed three years; comply with the order under MCA 37-1-312.
School Education
Credit for two years of full curriculum study at an accredited high school or Board-determined equivalent.
Score Timing
ARM 24.210.611(3) requires application within 12 months after examination; MCA 37-51-303(2)(b) requires the remaining portion within 12 months after the first passed portion.
Supervising Broker
Provide the proposed supervising broker’s certification of good repute and acceptance of supervision; be employed or under contract with a broker holding a supervising broker endorsement.
Waiver Process Instruction
Board checklist p. 1, Out-of-State Licensee/Waiver Process: “Exam results of passing the Montana state portion of the Salesperson examination.” This implementing checklist lists only the state portion. Adopted ARM 24.210.602(1) requires both national and Montana examinations; both remain referenced on the higher-ranked rule’s terms.
Probationary initial licensure
Application
Submit the Board-approved application and fee; explain affirmative discipline answers and provide source documentation.
Character
The Board must find good repute and competency; supply requested honesty, trustworthiness, and competency information.
Handbook Timing Statement
Pearson handbook p. 14 states: “Exam results are good for three (3) years from the date of passing the exam.” The statutory and Board-rule 12-month limits control.
Insurance
For active licensure, provide continuous professional liability and errors and omissions coverage meeting MCA 37-51-325.
License Verification
Provide verification if a real estate license is or was held in another jurisdiction. The checklist requests verification of all professional licenses ever held.
Minimum Age
At least 18 years old.
Prelicensing Education
70 hours of approved prelicensing education within the 24 months before application; satisfactorily pass the examination for each course.
Probationary Order
The Board orders probationary issuance after unprofessional conduct or stipulation. The period may not exceed three years; comply with the order under MCA 37-1-312.
School Education
Credit for two years of full curriculum study at an accredited high school or Board-determined equivalent.
Score Timing
ARM 24.210.611(3) requires application within 12 months after examination; MCA 37-51-303(2)(b) requires the remaining portion within 12 months after the first passed portion.
Supervising Broker
Provide the proposed supervising broker’s certification of good repute and acceptance of supervision; be employed or under contract with a broker holding a supervising broker endorsement.
Annual renewal during the probationary term
No examination is required for this applicant pathway.
Basis
MCA 37-1-141(2) defines renewal; MCA 37-1-312(1)(h) adds a probationary term without an examination.
Ordinary Renewal
Submit renewal form and fee; meet active-license education, insurance, and supervision requirements.
Probationary Order
Comply with the Board order and probationary issuance term, which cannot exceed three years.

Official no-examination sources

Effective from 2026-09-22.

Provisional license — Real Estate Salesperson

Provisional salesperson license under MCA 37-1-144 while specified licensing conditions are pending.

Licensing authority: Montana Board of Realty Regulation / Department of Labor and Industry · Application information

Provisional endorsement
Active License
Hold a current active license in good standing in another jurisdiction.
Application
Submit the Board-approved application and fee; explain affirmative discipline answers and provide source documentation.
Character
The Board must find good repute and competency; supply requested honesty, trustworthiness, and competency information.
Equivalency
MCA 37-1-304 requires substantially equivalent qualifications measured at application; the Board considers actual qualifications and work experience to address deficiencies.
Handbook Timing Statement
Pearson handbook p. 14 states: “Exam results are good for three (3) years from the date of passing the exam.” The statutory and Board-rule 12-month limits control.
Insurance
For active licensure, provide continuous professional liability and errors and omissions coverage meeting MCA 37-51-325.
License Verification
Provide verification if a real estate license is or was held in another jurisdiction. The checklist requests verification of all professional licenses ever held.
Minimum Age
At least 18 years old.
National Credit
Whether the Board credits an earlier approved national examination or excuses a new sitting is applicant-specific; previous passing scores do not themselves remove currently offered registered examinations.
Prelicensing Education
The ordinary rule specifies 70 hours within 24 months; credited education, experience, and deficiency remediation for an out-of-state applicant are subject to the statutory substantial-equivalency determination and Board waiver process.
Provisional Decision
The Department must initially find eligibility; one or more examinations, supervised experience, inspection, verification, or criminal-clearance conditions may be pending under MCA 37-1-144(1).
Provisional Limitations
Subject to time, place, supervision, and other limitations under MCA 37-1-144(2); validity ends on full license issuance or the failures specified in subsections (3)–(4).
School Education
Credit for two years of full curriculum study at an accredited high school or Board-determined equivalent.
Score Timing
ARM 24.210.611(3) requires application within 12 months after examination; MCA 37-51-303(2)(b) requires the remaining portion within 12 months after the first passed portion.
Supervising Broker
Provide the proposed supervising broker’s certification of good repute and acceptance of supervision; be employed or under contract with a broker holding a supervising broker endorsement.
Waiver Process Instruction
Board checklist p. 1, Out-of-State Licensee/Waiver Process: “Exam results of passing the Montana state portion of the Salesperson examination.” This implementing checklist lists only the state portion. Adopted ARM 24.210.602(1) requires both national and Montana examinations; both remain referenced on the higher-ranked rule’s terms.
Provisional initial licensure
Application
Submit the Board-approved application and fee; explain affirmative discipline answers and provide source documentation.
Character
The Board must find good repute and competency; supply requested honesty, trustworthiness, and competency information.
Handbook Timing Statement
Pearson handbook p. 14 states: “Exam results are good for three (3) years from the date of passing the exam.” The statutory and Board-rule 12-month limits control.
Insurance
For active licensure, provide continuous professional liability and errors and omissions coverage meeting MCA 37-51-325.
License Verification
Provide verification if a real estate license is or was held in another jurisdiction. The checklist requests verification of all professional licenses ever held.
Minimum Age
At least 18 years old.
Prelicensing Education
70 hours of approved prelicensing education within the 24 months before application; satisfactorily pass the examination for each course.
Provisional Decision
The Department must initially find eligibility; one or more examinations, supervised experience, inspection, verification, or criminal-clearance conditions may be pending under MCA 37-1-144(1).
Provisional Limitations
Subject to time, place, supervision, and other limitations under MCA 37-1-144(2); validity ends on full license issuance or the failures specified in subsections (3)–(4).
School Education
Credit for two years of full curriculum study at an accredited high school or Board-determined equivalent.
Score Timing
ARM 24.210.611(3) requires application within 12 months after examination; MCA 37-51-303(2)(b) requires the remaining portion within 12 months after the first passed portion.
Supervising Broker
Provide the proposed supervising broker’s certification of good repute and acceptance of supervision; be employed or under contract with a broker holding a supervising broker endorsement.

Montana Real Estate State Salesperson Examination

Provider
Pearson VUE
Format
Scored-question examination
Exam questions
40 scored questions and 10 pretest questions (candidate handbook)
Time limit
90 minutes
Passing score
75 on a scaled score of 0–100
Exam fee
$95
Examination outline
  • I. THE REAL ESTATE LICENSING AGENCY’S POWERS (SALESPERSONS: 3 ITEMS)
    • A. Investigations, hearings, and appeals
    • B. Sanctions
    • B. Sanctions — 1. Disciplinary actions
    • B. Sanctions — 2. Penalties
    • C. Examination of records
  • II. LICENSING (SALESPERSONS: 3 ITEMS)
    • A. Activities requiring a license
    • B. License renewal
    • C. Change in license status or information
  • III. REQUIREMENTS GOVERNING THE ACTIVITIES OF LICENSEES (SALESPERSONS: 28 ITEMS)
    • A. Advertising and marketing
    • B. Broker/Salesperson relationship
    • C. Unprofessional conduct
    • D. Compensation
    • E. Disclosure
    • E. Disclosure — 1. Conflict of interest
    • E. Disclosure — 2. Property disclosure
    • E. Disclosure — 3. Agency disclosure
    • F. Agency duties and responsibilities
    • G. Handling of documents
    • H. Handling of monies
    • I. Listings and buyer brokerage agreements
    • J. Illegal inducements/Ethics
  • IV. ADDITIONAL TOPICS (SALESPERSONS: 6 ITEMS)
    • A. Errors and omissions insurance
    • B. Land description
    • C. Common interest ownership/Condominium
    • D. Landlord/tenant relationship
    • E. Foreclosure and redemption
    • F. Statue of frauds
Examination sources

Real Estate Salesperson Examination — National/General Portion

Provider
Pearson VUE
Format
General (national) portion of a state real estate salesperson examination delivered by Pearson VUE; scored separately from the state portion with a pass/fail result, and a candidate who passes one part and fails the other retakes only the failed part
Exam questions
85 items: 80 scored items and 5 pretest items that are not counted toward the score
Examination outline
  • I. REAL PROPERTY CHARACTERISTICS, LEGAL DESCRIPTIONS, AND PROPERTY USE (SALES 11; 6 KNOWLEDGE, 3 APPLICATION, 2 ANALYSIS)
    • A. Real property vs. personal property (3 items): 1. Fixtures, trade fixtures, emblements; 2. Attachment, severance, and bill of sale
    • B. Characteristics of real property (2 items): 1. Economic characteristics (a. Scarcity; b. Modification / Improvement; c. Permanence of Investment / Fixity; d. Area Preference / Situs); 2. Physical characteristics (a. Immobility; b. Indestructibility; c. Non-homogeneity / Uniqueness)
    • C. Legal descriptions (3 items): 1. Methods used to describe real property; 2. Survey
    • D. Public and private land use controls – encumbrances (3 items): 1. Public controls – governmental powers (a. Police power, eminent domain, taxation, escheat; b. Zoning ordinances); 2. Private controls, restrictions, and encroachments (a. Covenants, conditions, and restrictions (CC&Rs), HOAs; b. Easements; c. Licenses and encroachments)
  • II. FORMS OF OWNERSHIP, TRANSFER, AND RECORDING OF TITLE (SALES 9; 5 KNOWLEDGE, 2 APPLICATION, 2 ANALYSIS)
    • A. Ownership, estates, rights, and interests (5 items): 1. Forms of ownership; 2. Freehold estate (a. Fee simple absolute; b. Fee simple defeasible, determinable, and condition subsequent; c. Life estate; d. Bundle of rights); 3. Leasehold estates and types of leases (a. Estate for years and from period to period (periodic estate); b. Estate at will and estate at sufferance; c. Gross, net, percentage leases, etc.); 4. Liens and lien priority; 5. Air, surface and sub-surface rights
    • B. Deed, title, transfer of title, and recording of title (4 items): 1. Elements of a valid deed; 2. Types of deeds; 3. Title transfer (a. Voluntary alienation; b. Involuntary alienation); 4. Recording the title (a. Constructive and actual notice; b. Title abstract and chain of title; c. Marketable title and cloud on title; d. Attorney title opinion, quiet title lawsuit, and title insurance)
  • III. PROPERTY VALUE AND APPRAISAL (SALES 11; 6 KNOWLEDGE, 3 APPLICATION, 2 ANALYSIS)
    • A. Concept of value (4 items): 1. Market value vs. market price; 2. Characteristics of value; 3. Principles of value
    • B. Appraisal process (2 items): 1. Purpose and steps to an appraisal; 2. Federal oversight of the appraisal process
    • C. Methods of estimating value and Broker Price Opinions (BPO) (5 items): 1. Sales comparison approach (market data); 2. Cost approach (a. Improvements and depreciation; b. Physical deterioration, functional, and economic obsolescence; c. Reproduction or replacement costs); 3. Income approach; 4. Gross rent and gross income multipliers; 5. Comparative Market Analysis (CMA); 6. Broker Price Opinion (BPO); 7. Assessed value and tax implications
  • IV. REAL ESTATE CONTRACTS AND AGENCY (SALES 16; 7 KNOWLEDGE, 6 APPLICATION, 3 ANALYSIS)
    • A. Types of contracts (1 item): 1. Express vs. implied; 2. Unilateral vs. bilateral
    • B. Required elements of a valid contract (3 items): 1. Voluntary; 2. Agreement / Promise; 3. Legally competent parties; 4. Lawful consideration; 5. Legal act / Purpose
    • C. Contract performance (3 items): 1. Executed vs. executory; 2. Valid vs. void; 3. Voidable vs. unenforceable; 4. Breach of contract, rescission, and termination; 5. Liquidated, punitive, or compensatory damages; 6. Statute of Frauds; 7. Electronic contracts and digital signatures; 8. Time is of the essence
    • D. Sales contract (2 items): 1. Offer and counteroffer; 2. Earnest money and liquidated damages; 3. Equitable title; 4. Contingencies; 5. Disputes and breach of contract; 6. Option contract and installment sales contract
    • E. Types of agency and licensee-client relationships (2 items)
    • F. Creation and termination of agency (2 items)
    • G. Licensee obligations to parties of a transaction (3 items)
  • V. REAL ESTATE PRACTICE (SALES 10; 5 KNOWLEDGE, 3 APPLICATION, 2 ANALYSIS)
    • A. Responsibilities of broker (2 items): 1. Practicing within scope of expertise; 2. Unauthorized practice of law
    • B. Brokerage agreements between the broker and principal (seller, buyer, landlord, or tenant) (3 items): 1. Seller representation – Types of listing agreements (a. Exclusive right-to-sell and exclusive agency listing; b. Non-exclusive or open listing; c. Net listing (conflict of interest); d. Multiple listing service (MLS)); 2. Buyer representation; 3. Property management agreement (a. Accounting for funds; b. Property maintenance; c. Leasing property; d. Collecting rents and security deposits); 4. Termination of agreements; 5. Services, fees, and compensation
    • C. Fair Housing (3 items): 1. Equal opportunity in housing; 2. Protected classes; 3. Fair housing laws; 4. Illegal practices, enforcement, and penalties; 5. Prohibited advertising; 6. Housing and Urban Development (HUD); 7. Americans with Disabilities Act (ADA)
    • D. Risk management (2 items): 1. Supervision; 2. Compliance with federal regulations; including Privacy and Do Not Contact; 3. Vicarious liability; 4. Antitrust laws; 5. Fraud and misrepresentation; 6. Types of insurance (a. Errors and Omissions; b. General Liability)
  • VI. PROPERTY DISCLOSURES AND ENVIRONMENTAL ISSUES (SALES 9; 5 KNOWLEDGE, 3 APPLICATION, 1 ANALYSIS)
    • A. Property conditions and environmental issues (5 items): 1. Hazardous substances (a. Lead-based paint; b. Asbestos, radon, and mold; c. Groundwater contamination and underground storage tanks; d. Waste disposal sites and brownfields; e. Flood plains, flood zones, and flood insurance); 2. Clean Air and Water Acts; 3. Environmental Protection Agency (EPA) (a. Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA); b. Superfund Amendment and Reauthorization Act (SARA); c. Environmental site assessments (including Phase I and II studies) and impact statements; d. Wetlands protection)
    • B. Environmental and property disclosure obligations and liability (4 items)
  • VII. FINANCING AND SETTLEMENT (SALES 7; 4 KNOWLEDGE, 2 APPLICATION, 1 ANALYSIS)
    • A. Financing concepts and components (2 items): 1. Methods of financing (a. Mortgage financing – conventional and non-conventional loans; b. Seller financing – land contract/contract for deed); 2. Lien theory vs. title theory and deed of trust; 3. Sources of financing (primary and secondary mortgage markets, and seller financing); 4. Types of loans and loan programs; 5. Mortgage clauses
    • B. Lender Requirements (1 item): 1. FHA requirements; 2. VA requirements; 3. USDA Loan requirements and rural development financing; 4. Conventional requirements; 5. Buyer qualification and Loan to Value (LTV); 6. Hazard and flood insurance; 7. Private mortgage insurance (PMI) and mortgage insurance premium (MIP)
    • C. Federal Financing Regulations and Regulatory Bodies (2 items): 1. Truth-in-Lending and Regulation Z; 2. TILA-RESPA Integrated Disclosures (TRID) (a. Consumer Financial Protection Bureau (CFPB); b. Loan Estimate (LE); c. Closing Disclosure (CD)); 3. Real Estate Settlement Procedures Act (RESPA) (a. Referrals; b. Rebates); 4. Equal Credit Opportunity Act (ECOA); 5. Mortgage fraud and predatory lending
    • D. Settlement and closing the transaction (2 items)
  • VIII. REAL ESTATE MATH CALCULATIONS (SALES 7; 4 APPLICATION, 3 ANALYSIS)
    • A. Property area calculations (1 item): 1. Square footage; 2. Acreage total
    • B. Property valuation (1 item): 1. Comparative Market Analysis (CMA); 2. Net Operating Income (NOI); 3. Capitalization rate; 4. Equity in property; 5. Establishing a listing price; 6. Assessed value and property taxes
    • C. Commission/compensation (1 item)
    • D. Loan financing costs (1 item): 1. Interest; 2. Loan to Value (LTV); 3. Fees; 4. Amortization, discount points, and prepayment penalties
    • E. Settlement and closing costs (1 item): 1. Purchase price and down payment; 2. Monthly mortgage calculations- principal, interest, taxes, and insurance (PITI); 3. Net to the seller; 4. Cost to the buyer; 5. Prorated items; 6. Debits and credits; 7. Transfer tax and recording fee
    • F. Investment (1 item): 1. Return on investment; 2. Appreciation; 3. Depreciation; 4. Tax implications on investment
    • G. Property management calculations (1 item): 1. Property management and budget calculations; 2. Tenancy and rental calculations
Examination sources