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100+ Free MN RE Broker Practice Questions

Pass your Minnesota Real Estate Broker Exam exam on the first try — instant access, no signup required.

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A Minnesota broker wants to pay a referral fee to an out-of-state broker who referred a buyer. Is this permitted?

A
B
C
D
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ArticleFree Real Estate Broker Practice Test by State 2026: 1,500+ Questions24 min read
2026 Statistics

Key Facts: MN RE Broker Exam

75%

Passing Score (Each Portion)

PSI / MN Commerce

3 yrs

Salesperson Experience Required

MN Commerce

30 hrs

Broker Pre-License Education

MN Commerce

100 Q

Exam Questions (National + State)

PSI

$63

Exam Fee

PSI

30 hrs

Renewal CE Every 2 Years

MN Commerce

Minnesota requires broker applicants to hold an active salesperson license for at least 3 years and complete 30 hours of broker-specific pre-license education. The PSI broker exam has national and state portions with a 75% passing score. Minnesota broker topics include trust account management, brokerage supervision duties, Minnesota Statutes Chapter 82, agency relationships under the MN agency law, abstract of title and Torrens system, deed tax, and MN Commerce Department disciplinary procedures.

Sample MN RE Broker Practice Questions

Try these sample questions to test your MN RE Broker exam readiness. Each question includes a detailed explanation. Start the interactive quiz above for the full 100+ question experience with AI tutoring.

1Under Minnesota law, what is the minimum experience requirement to upgrade from salesperson to broker?
A.1 year as an active salesperson
B.2 years as an active salesperson
C.3 years as an active salesperson
D.5 years as an active salesperson
Explanation: Minnesota requires at least 3 years of active experience as a licensed real estate salesperson before qualifying for a broker license. The applicant must have been actively engaged in real estate during this period. Additionally, the candidate must complete 30 hours of broker-specific pre-license education.
2Minnesota is one of the few states that uses the Torrens title registration system. What is the primary advantage of Torrens title?
A.It eliminates the need for title insurance entirely
B.It provides a government-guaranteed certificate of title showing current ownership and encumbrances
C.It allows properties to be sold without a deed
D.It waives the requirement for a title search
Explanation: The Torrens system provides a government-guaranteed certificate of title that definitively shows the current owner and all encumbrances on the property. Unlike the abstract system, which requires examining a chain of historical documents, the Torrens certificate is the authoritative record. While title insurance is still recommended, the Torrens system provides an additional layer of certainty about ownership.
3How many hours of broker-specific pre-license education does Minnesota require?
A.15 hours
B.30 hours
C.60 hours
D.90 hours
Explanation: Minnesota requires 30 hours of broker-specific pre-license education from an MN Commerce-approved provider. This education covers brokerage management, trust accounts, Minnesota broker law, and supervisory responsibilities. This is in addition to the salesperson education already completed.
4What is the Minnesota deed tax rate?
A.$1.10 per $1,000 of consideration
B.$1.65 per $500 of consideration
C.$2.20 per $1,000 of consideration
D.$3.30 per $1,000 of consideration
Explanation: Minnesota imposes a deed tax of $3.30 per $1,000 of consideration (or equivalently $1.65 per $500). This is also commonly stated as $0.0033 per dollar of consideration. The deed tax is typically paid by the seller at closing and is collected by the county when recording the deed. Some counties may impose additional fees.
5Under Minnesota Statutes Chapter 82, which entity regulates real estate brokers and salespersons?
A.The Minnesota Real Estate Commission
B.The Minnesota Department of Commerce
C.The Minnesota Board of Realtors
D.The Minnesota Department of Housing
Explanation: The Minnesota Department of Commerce regulates real estate brokers and salespersons under Chapter 82 of the Minnesota Statutes. Unlike most states that have a separate real estate commission, Minnesota vests regulatory authority in the Commerce Department, which oversees licensing, education requirements, disciplinary actions, and trust account compliance.
6A Minnesota principal broker must deposit earnest money into the trust account within what time frame?
A.24 hours of receipt
B.3 business days of receipt
C.Within the time specified by the purchase agreement
D.7 calendar days of receipt
Explanation: Minnesota requires brokers to deposit earnest money and other trust funds into the trust account within 3 business days of receipt. This ensures client funds are promptly safeguarded. The purchase agreement may specify a shorter timeframe, but the statutory maximum is 3 business days. Failure to timely deposit is a violation of MN Commerce Department rules.
7What is the difference between an abstract of title and a Torrens certificate in Minnesota?
A.They are identical documents with different names
B.An abstract is a historical summary of title records requiring attorney opinion; a Torrens certificate is a government-guaranteed current title record
C.An abstract is only for commercial property; Torrens is only for residential
D.A Torrens certificate is less reliable than an abstract
Explanation: An abstract of title is a historical summary of all recorded documents affecting the property, which must be examined by an attorney who provides an opinion of title. A Torrens certificate, issued by the county registrar of titles, is a government-guaranteed record of current ownership and encumbrances. Minnesota is one of the few states where both systems operate simultaneously, and brokers must understand which system applies to each property.
8Minnesota requires well disclosure for properties with wells. When must the well disclosure be provided?
A.At closing only
B.Before the buyer signs a purchase agreement or within the time specified in the agreement
C.Within 30 days after closing
D.Only if the buyer specifically requests it
Explanation: Minnesota law requires sellers to provide a well disclosure certificate before the buyer signs a purchase agreement, or within the timeframe specified in the purchase agreement. The disclosure must identify all known wells on the property, including sealed wells. The Minnesota Department of Health maintains well records, and failure to disclose can give the buyer the right to void the contract.
9Under Minnesota agency law, which agency relationships are recognized?
A.Seller's agent and buyer's agent only
B.Seller's agent, buyer's agent, dual agent, and facilitator
C.Seller's agent, buyer's agent, and transaction broker
D.Only facilitator relationships are permitted
Explanation: Minnesota recognizes four types of real estate agency relationships: seller's agent, buyer's agent, dual agent (with written consent of both parties), and facilitator (a non-agent who assists both parties without owing fiduciary duties to either). The facilitator role is unique to Minnesota and some other states. Brokers must ensure proper disclosure of the relationship type at first substantive contact.
10What is the passing score required on the Minnesota real estate broker exam?
A.70% on each portion
B.75% on each portion
C.80% on each portion
D.75% combined across both portions
Explanation: Minnesota requires a 75% passing score on both the national and state portions of the broker exam. Each portion must be passed independently — you cannot offset a low score on one portion with a high score on the other. The exam is administered by PSI.

About the MN RE Broker Exam

The Minnesota real estate broker exam is a PSI-administered exam with national and state portions for licensed salespersons upgrading to a broker license. It covers brokerage management, trust account handling, Minnesota Statutes Chapter 82, MN Commerce Department regulations, and Minnesota-specific property law at the broker supervision level.

Questions

100 scored questions

Time Limit

3 hours 30 minutes

Passing Score

75%

Exam Fee

$63 (MN Commerce / PSI)

MN RE Broker Exam Content Outline

25%

Brokerage Management & Operations

Office supervision, branch office requirements, advertising compliance, broker-associate agreements, independent contractor arrangements, record retention

25%

Trust Accounts & Escrow

Trust account requirements, earnest money handling, reconciliation, commingling vs conversion, MN Commerce audit procedures

25%

MN Real Estate Broker Law

Minnesota Statutes Chapter 82, MN Commerce Department powers, broker licensing requirements, disciplinary actions, prohibited acts, agency law

25%

Contracts, Finance & Valuation

Purchase agreements, financing instruments, appraisal methods, agency relationships, disclosure requirements, fair housing, Minnesota property law

How to Pass the MN RE Broker Exam

What You Need to Know

  • Passing score: 75%
  • Exam length: 100 questions
  • Time limit: 3 hours 30 minutes
  • Exam fee: $63

Keys to Passing

  • Complete 500+ practice questions
  • Score 80%+ consistently before scheduling
  • Focus on highest-weighted sections
  • Use our AI tutor for tough concepts

MN RE Broker Study Tips from Top Performers

1Master Minnesota trust account rules: deposit timing, reconciliation requirements, and MN Commerce Department audit preparation
2Understand the Torrens title system vs abstract of title — Minnesota is one of few states testing both systems
3Study Minnesota deed tax calculations and well disclosure requirements
4Know MN Commerce Department composition, disciplinary process, and Chapter 82 broker provisions
5Practice broker supervision scenarios under Minnesota agency law: disclosure timing, dual agency consent, facilitator relationships

Frequently Asked Questions

What are the requirements to take the Minnesota broker exam?

You must hold an active Minnesota real estate salesperson license for at least 3 years, complete 30 hours of broker-specific pre-license education from a MN Commerce-approved provider, and pass a background check. The 30-hour course covers brokerage management, trust accounts, and Minnesota broker law.

What score do I need to pass the MN broker exam?

The Minnesota broker exam requires a 75% passing score on both the national and state portions. The exam is administered by PSI and includes separate national and state sections that must each be passed independently.

What is unique about Minnesota real estate law for the broker exam?

Minnesota has several unique features tested on the broker exam: the Torrens title registration system (one of few states using it), abstract of title procedures, mandatory agency disclosure under MN agency law, deed tax calculations, well disclosure requirements, and Truth-in-Housing requirements in certain cities.

How does Minnesota agency law affect brokers?

Minnesota requires written agency agreements and mandatory disclosure of agency relationships. Brokers must ensure all agents provide the agency disclosure form at the first substantive contact. Minnesota recognizes seller's agents, buyer's agents, dual agents (with written consent), and facilitators. Brokers are responsible for supervising all agency relationship compliance.