Minnesota Real Estate Exam: Everything You Need to Know

Taking the Minnesota real estate exam is one of the final hurdles you’ll have to cross before getting your real estate license and taking on the exciting new real estate career. If you’re stressed or worried about taking the exam, we’re here to help. 

We’ll walk you through everything you need to know to ace the Minnesota real estate exam, like: 

• How to schedule your Minnesota real estate licensing exam 
• What you need to know for the test
• How difficult the exam is
• Study tips and tricks for passing the exam 

How to Schedule the Minnesota Real Estate Licensing Exam

If you’ve passed your pre-licensing coursework, you’ll be eligible to register for the licensing exam officially! Minnesota has partnered with PSI Services to administer the real estate exam for its applicants.

All you have to do is create an account on the PSI Services’ website and submit the right paperwork to schedule your exam.

Once you’ve filled out the required forms and picked a date and time to take your exam, you’ll be prompted to pay the examination fee of $63. Then, you’ll be confirmed and ready for your exam!

Where Do You Take the Minnesota Real Estate License Exam?

Minnesota allows applicants to take the exam in-person at one of PSI Services test centers or online from the comfort of their home. 

• Blaine
• Brainerd
• Duluth
• Eagan
• Mankato
• Rochester
• St. Paul 
• Willmar
• Woodbury

If you’re currently living outside of Minnesota, you can also take the real estate licensing exam at any PSI Services test center nationwide. 

Can You Take the Exam Online?

Yes! One of the newer additions to the licensing process is the option to take the real estate exam online. Minnesota does allow applicants to take the exam online through a remotely proctored exam. This involves using your own home computer setup and taking it virtually through an online proctor. 

There are still requirements and procedures involved with taking the exam at home, like no talking and no cell phones. You’ll also be required to present identification on the day of your exam to confirm you are the person registered for the exam.

What to Bring on the Day of Your Exam

You’ll have to bring an ID with your name, signature and photo that’s valid and unexpired. Appropriate forms of ID include: 

• State-issued driver’s license
• State-issued identification card
• US Government Issued Passport
• US Government Issued Military Identification Card (not allowed for remote testing)
• US Government Issued Alien Registration Card
• Canadian Government Issued ID

Then, you’ll also have to present confirmation that you’ve completed the required educational courses. That can include: 

• A valid course completion certificate for the Minnesota-approved Course I.
• A valid course completion certificate for the 13-hour Wisconsin-to-Minnesota salesperson pre license course.
• A copy of your expired Minnesota resident real estate salesperson license.
• A current letter of certification from your resident state. The letter of certification must be no more than 90 days old.

Otherwise, all personal belongings, including electronics, purses, drinks or other items, are prohibited at the test site. Just bring the essential things with you, like your ID and certification of completion, and leave the rest at home. 

What is on the Minnesota Real Estate Exam?

While your pre-licensing course is meant to give you the general knowledge you need to be a successful real estate agent, the licensing exam will test you on your understanding of the material and the different state laws relating to becoming a real estate agent. 

In Minnesota, there are two parts to the real estate exam – a state and general section totaling 120 questions. Both parts are equally important, and understanding the content can really help you when exam time comes. 

In the general section, you’ll have 80 questions to answer in the following categories: 

• Property ownership (7 questions)
• Land use controls and Regulations (5 questions)
• Valuation and market analysis (8 questions)
• Financing (6 questions)
• General principles of agency (10 questions)
• Property condition and disclosures (8 questions)
• Contracts (11 questions)
• Transfer of title (5 questions)
• Practice of real estate (12 questions)
• Specialty Areas (2 questions)

There is also a separate Minnesota-specific section that will test your knowledge of general state laws and responsibilities you’ll have to follow as a real estate agent. This section includes 40 questions and is broken down as follows: 

• Real Estate Brokerage License Law (20 questions)
• Interests in Real Property (8 questions)
• Conveyance Procedures and Protection of Parties (8 questions)
• Financial Instruments: Obligations, Rights, Remedies (4 questions)

While there are more questions in the general section, you’ll need to pass both to get your real estate license, so make sure to take the time and properly prepare for both parts!

Will There Be Math on the Exam?

In the general section of the real estate exam, you’ll have 6 math questions to answer that are focused on basic calculations you’ll need to know as a real estate agent. This includes things like how to calculate total area, loan-to-value calculations and information about down payments. 

If math isn’t your strong suit, don’t worry! Try your best to answer the questions or make an educated guess. Solving math questions can be time consuming, which is why it is easier to skip them, answer the easier questions, and then solve the math questions. That way, you don’t run out of time on your exam!

Is the Minnesota Real Estate Exam Hard?

While the exam is meant to be challenging, it’s not meant to be impossible. The main goal is to confirm that you comprehend and understand the key parts of being a real estate agent and are ready to start your official real estate career. 

To pass the exam, you’ll need to score a 75% or higher on the overall exam. 

How Many Questions Are on the Minnesota Real Estate Exam?

With 120 questions on the exam, that means you must answer at least 90 out of 120 questions correctly. Keep that in mind when you encounter a tough question you’re not sure how to answer. You have room to make a few wrong answers.

As you’re constructing your study schedule, remember that the general section accounts for the majority of the exam. 

What is the Passing Rate for the Real Estate Exam in Minnesota?

In Minnesota, it’s not uncommon to take the real estate exam multiple times. In fact, almost 30% of the students retake the exam. But, with the right study materials and a clear study schedule, you can go in prepared and ready to ace the exam. 

How Many Times Can You Take the Real Estate Exam?

You can retake the Minnesota real estate exam as many times as you want before your certificates expire. You will have to wait 24 hours after your exam and pay an additional exam fee before you can schedule your retake. Best of all, only have to retake the section you failed — not both sections. 

To help you prepare to retake the exam again, you’ll get a copy of your score report, which can outline where you missed questions. This can help you focus on the main areas you need to improve on as you study to take it again.

How to Pass the Minnesota Real Estate Exam

Here are some tried and true study tips that we suggest as you prepare for the Minnesota real estate exam. 

Create a Study Schedule

To pass the Minnesota real estate exam, it's important to maintain a study schedule that’s consistent and manageable. You may want to consider creating a study schedule that you can follow multiple times a week. By establishing a routine, you're setting up the proper structure to make sure you have the right amount of time set aside for exam preparation.

By doing this, you'll have more time to absorb the material and get ready for the exam in a proper way. Even if you only have 15 or 30 minutes to study, it can make a big difference in your approach! You’ll quickly realize how much easier it is to remember the material when you establish and maintain a consistent exam preparation routine.

Join a Study Group

Have you ever considered joining a study group? It's a great way to share different tips and tricks with others and learn new study techniques that you might not have discovered on your own. Plus, it's a chance to make new friends and have fun while preparing for your licensing exam. Give it a try and see how helpful it can be!

Get Guided Help

When you're about to take a big exam, it can be really useful to have some extra help in your study materials. Luckily, we have a Minnesota real estate exam prep package that can help you pass your exam on the first try.

This course is tailored specifically to help you succeed on the test. It comes with helpful study tips and unlimited practice exams to get you ready. 

Our packages start at just $49.99 and you’ll get access to:

• Over 1,500 Minnesota real estate exam practice questions
• Customizable practice state exams
• Vocabulary flashcards
• Video explanations by real estate experts

You can get access to a free three-day trial to see how our program is structured and how it can help you with your exam prep. Plus, with our pass guarantee, you can feel confident it’s an investment into your new real estate career. 

Final Thoughts on the Real Estate Exam in Minnesota

With the right tools, focus, and hard work, you can ace the Minnesota real estate exam and start your new career! Remember that preparation is key, and trust in yourself and your abilities. It never hurts to have a little extra help in the process, too. We’re here to help provide you with the materials you need to pass the Minnesota exam the first time around.