200+ Free MI Real Estate Practice Questions
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Key Facts: MI Real Estate Exam
115 Q
Exam Length
PSI MI salesperson candidate bulletin
80 + 35
National + State Split
PSI MI
70%
Passing Score
MI LARA
40 hrs
Pre-License Education
LARA licensing requirements
$79
Exam Fee
PSI MI fee schedule
$8.60/K
Combined Transfer Tax
MI Revenue
Michigan requires 40 hours of pre-license education and passage of the PSI exam (80 national + 35 state questions). The state portion requires 70% to pass. Michigan's property tax system is unique ā Proposal A (1994) caps annual assessment increases at the lesser of 5% or inflation until the property sells, at which point it 'uncaps' to 50% of market value (State Equalized Value). Michigan requires sellers to complete a comprehensive Seller Disclosure Statement covering material defects, environmental hazards, and structural conditions.
About the MI Real Estate Exam
The Michigan real estate salesperson exam covers national real estate fundamentals plus Michigan-specific topics including LARA (Licensing and Regulatory Affairs) requirements, the Occupational Code, agency disclosure rules, seller disclosure obligations, property taxation (SEV, taxable value, Proposal A), and Michigan-specific landlord-tenant law.
Questions
115 scored questions
Time Limit
3 hours 30 minutes
Passing Score
70%
Exam Fee
$79 (MI LARA / PSI)
MI Real Estate Exam Content Outline
LARA Licensing & Regulation
LARA structure, Occupational Code, 40-hour pre-license, license types, CE (18 hrs/3 years), trust accounts
MI Agency & Disclosures
Agency disclosure (first meaningful contact), seller disclosure statement, dual agency consent, buyer agency agreements
MI Contracts & Closing
Purchase agreements, land contracts, mortgage lending, closing procedures, title insurance, recording
MI Property Tax & Regulations
SEV, taxable value, Proposal A (assessment cap), uncapping, homestead exemption, transfer tax (county + state), fair housing
How to Pass the MI Real Estate Exam
What You Need to Know
- Passing score: 70%
- Exam length: 115 questions
- Time limit: 3 hours 30 minutes
- Exam fee: $79
Keys to Passing
- Complete 500+ practice questions
- Score 80%+ consistently before scheduling
- Focus on highest-weighted sections
- Use our AI tutor for tough concepts
MI Real Estate Study Tips from Top Performers
Frequently Asked Questions
How many questions are on the Michigan real estate salesperson exam?
The MI exam has 115 total questions: 80 national and 35 state-specific. You must score 70% on each section. PSI administers the exam with 3.5 hours total.
What is Proposal A and how does it affect Michigan real estate?
Proposal A (1994) caps annual property assessment increases at the lesser of 5% or the rate of inflation. When a property sells, the taxable value 'uncaps' and resets to 50% of market value (SEV). This creates significant tax differences between long-held and recently sold properties.
What education is required for a Michigan real estate license?
Michigan requires 40 hours of pre-license education covering real estate fundamentals and Michigan law. After licensing, 18 hours of CE are required every 3 years, including 2 hours of legal updates.
How does Michigan's transfer tax work?
Michigan charges two transfer taxes at closing: a county transfer tax of $0.55 per $500 and a state transfer tax of $3.75 per $500 of the sale price. Combined, this equals $8.60 per $1,000 of value.