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These 10 free MN-RE-SALES questions are organized by exam domain, so you can see how each part of the Minnesota Real Estate Salesperson Exam blueprint is tested. Reveal the answer and explanation under each question.
A bakery tenant bolts a commercial oven to the floor. Two days before the lease ends, the tenant removes the oven, repairs the anchor holes, and restores the floor. The lease is silent about the oven. Which classification best fits it?
Correct answer: B - A trade fixture removable before the tenant surrendered possession
A restaurant was a lawful use when it opened. The parcel was later rezoned to prohibit restaurants, but the ordinance allows existing lawful uses to continue and forbids expansion of nonconforming uses. The owner now proposes a 40% dining-room addition. Under the ordinance, which outcome is permitted?
Correct answer: D - The current use may continue, but the addition is barred as an expansion
An eight-unit property has $120,000 in annual scheduled rent, $6,000 in vacancy and collection loss, and $42,000 in operating expenses. Annual debt service is $28,000 and book depreciation is $8,000. Comparable investments support an 8% capitalization rate. What value is indicated by direct capitalization?
Correct answer: A - $900,000, capitalizing $72,000 of net operating income
A home is under contract for $400,000 and appraises for $380,000. The proposed conventional loan is $320,000. The lender uses the lower of price or appraised value for LTV and requires PMI above 80% LTV. Rounded to the nearest tenth, which LTV and PMI conclusion follows?
Correct answer: C - 84.2% LTV; PMI is required under the lender's stated rule
A buyer's written offer remains open until 5:00 p.m. Friday. On Thursday, the seller signs but changes the price, creating a counteroffer. The buyer rejects the counteroffer Friday morning, then at noon attempts to accept the original offer. The seller has not renewed it. Did the buyer's noon response create a contract?
Correct answer: D - No contract forms unless the seller renews the original offer
A seller signs a 30-day option giving a buyer the right to purchase a parcel for $400,000, and the buyer pays $1,000 in separate consideration. On day 10, the seller receives a $430,000 offer from someone else. The option has not been exercised. Which statement describes the seller's obligation?
Correct answer: B - Keep the option available through day 30; the buyer has no duty to purchase
A buyer has signed an exclusive buyer-representation agreement. The purchase agreement provides that the seller will pay the buyer broker's compensation at closing. Whom does the buyer's salesperson represent?
Correct answer: A - The buyer, because representation arises from the agency agreement
A salesperson is acting as a disclosed dual agent for both buyer and seller, and both parties have consented in writing. The seller privately disclosed a minimum acceptable price. When the buyer asks for that figure, what may the dual agent properly say?
Correct answer: C - State that the seller's price motivation is confidential and invite an offer
During a rainstorm, a listing salesperson personally observes water entering through a basement wall. The seller later marks "no water intrusion" on the disclosure form and instructs the salesperson to say nothing. Which action satisfies the salesperson's disclosure duty?
Correct answer: B - Disclose the known water intrusion and recommend appropriate investigation
An apartment community has a no-pet policy. An applicant whose disability is not obvious requests an assistance animal and provides reliable information showing the disability-related need. How should the housing provider handle the request?
Correct answer: D - Waive pet rules and charges, but hold the resident liable for actual damage
The MN-RE-SALES exam also covers these domains. Drill them in the full free practice test:
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