Montana Real Estate Exam: Everything You Need to Know

Passing this exam is the first step in acquiring a real estate license. In this comprehensive article, we will reveal everything you need to know regarding the Montana real estate licensing exam, along with tips on improving your chances of passing. Below is a list of things we will cover: 

• How to schedule the exam date
• What is on the Montana real estate exam
• How hard is the Montana exam
• How to pass the exam on your first try

How to Schedule the Montana Real Estate Licensing Exam

To schedule the Montana real estate licensing exam, you must send an online application through the PSI website. However, the Montana Department of Labor and Industry requires that all applicants meet certain requirements before they are eligible for an application.

Here are some of these requirements:

• You must be 18 years and above.
• You must have a high school diploma or equivalent from an accredited institution.
• You must have completed the mandatory 60 hours of salesperson pre-licensing course from an approved real estate school.
• You must have passed the approved pre-licensing course final exam within the last 24 months.
• You must be able to provide a licensing history if you have held a license from any licensing jurisdiction.

To submit your exam and license application, create an account and apply online through the Montana Department of Labor & Industry.

You can schedule your real estate exam if all of these items are checked. Although your real estate school must have informed the Board of Realty Regulations that you have completed the mandatory pre-licensing program and passed its final exam, you will still need to include a proof of completion in your application, together with the following forms of identification:

• Government-issued photo ID
• Taxpayer Identification Number
• Social Security Number

Scheduling your Montana real estate license exam would cost you up to $106, but you should keep in mind that additional charges may be related to your application and licensing. 

Where Do You Take the Montana Real Estate License Exam?

All candidates must take the Montana real estate exam at any approved PSI testing facility. These facilities are located in the following cities:

• Billings
• Helena
• Kalispell
• Missoula.

Can You Take the Exam Online?

No, the Montana real estate exam cannot be taken online. All candidates will be required to present themselves at any designated PSI exam centers, where they will be supervised for the exam duration. Therefore, it is advised that you choose any of the aforementioned locations nearest to you when applying for the exam.

What to Bring on the Day of Your Exam

Here is a list of what to bring with you on the day of the Montana real estate exam:

• Two non-expired forms of identification with matching names and valid signatures (Driver’s license, passport, debit or credit card). Remember to bring proof of your name change if you used a different name on your registration.
• A basic non-scientific calculator

What is on the Montana Real Estate Exam?

The Montana real estate exam is made up of two sections. The first section comprises questions based on national real estate topics. Here are some topics you will come across in this section:

• Agency Relationships and Contracts
• Finance
• Marketing Regulations (purchase and rental)
• Property Management
• Real Property Ownership / Interest
• Real Property
• Real Estate Calculations

The second section comprises questions based on Montana’s real estate. You will find questions on the following state-specific topics:

• Licensing
• Requirements Governing the Activities of Licensees
• The Real Estate Licensing Agency’s Powers
• Additional Topics (Land Description, Common Interest Ownership, Foreclosure and Redemption, Statute of Frauds)

Will There Be Math on the Exam?

Yes, there will be math on the Montana real estate licensing exam. These math questions will be found in the national-specific section and related to real estate concepts like property taxes, Return On Investments (ROI), equity, Loan-to-Value (LTV), etc. 

Because math questions tend to take a lot of time to solve, it is advisable to leave them for when you’re done answering other questions unless the answers are obvious.

Is the Montana Real Estate Exam Hard?

Since the Montana real estate exam is intended to ensure that only the best real estate professionals are given the license to operate within the state, it shouldn’t be a surprise that the exam may not be easy. However, this difficulty level may vary depending on a candidate’s level of preparation.

How Many Questions Are on the Montana Real Estate Exam?

The Montana real estate exam consists of 113 multiple-choice questions, which are divided into two sections:

• The national-specific section, which has a total of 80 questions
• The state-specific section, which has a total of 33 questions

Candidates will each have 4 hours to complete the entire exam. That is, 2 hours 30 minutes for the national-specific section and 1 hour 30 minutes for the state-specific section. You must obtain a minimum score of 70% in both exam sections to pass. Your result will be available immediately after you complete the test.

The Montana real estate exam also contains 10 pre-test questions which are used by the exam administrator (PSI) to assess the quality of their test and improve on future tests. Note that these questions do not add to your overall test score.

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

The passing rate of the Montana real estate exam is currently unknown. However, you should remember that factors such as changes in the exam contents and candidates’ study habits affect the overall number of people who pass the exam. Therefore, making the necessary preparations is a sure way to improve your chances of passing the real estate exam.

How Many Times Can You Take the Real Estate Exam?

Since the Montana Board of Realty Regulation does not indicate a limit to the number of times a candidate can take the real estate exam. However, any retakes must occur within two years of completing your pre-licensing course or the course completion certificate expires. 

Remember that you will have to pay the $106 application fee each time you retake the exam. 

How to Pass the Montana Real Estate Exam

There are few study strategies that you can implement to stay on top of your studying and increase your chances of passing the exam on your first try.

Create a Study Schedule

Creating a healthy study schedule that suits you is something you must do to be well-prepared for your Montana real estate licensing exam. Factors such as your other commitments, the difficulty of the various real estate topics you need to study, and your study habits should be considered when creating this schedule.

Your study schedule should balance your study time with other aspects of your life and should be focused on working smart and not outdoing yourself. Below are a few things to keep in mind when creating your study schedule:

• Once you have drafted a study routine that works for you, be consistent with it. Typically, your study time should be set to a time when there are fewer distractions, and your level of assimilation is high. We recommend that you study for a while every night or every other night at least.
• Rank the real estate topics you need to cover in order of their difficulty and importance. Giving more study time to topics highlighted to be of utmost importance or those that you find difficult is always advisable. This will keep you focused and distribute your study time evenly across all topics.
• Breaks should never be overlooked. Include them in your study schedule as they help get rid of fatigue. Take short breaks every hour while studying.
• Just short breaks are important while studying, it is also important for you to allocate 7 to 9 hours of sleep when preparing for your real estate exam. This way, you stay active and well-rested all through the period.

Use Acronyms and Mnemonic Devices

Acronyms and mnemonic devices are great study tools to help you remember and recall information. Therefore, they can be especially useful when you need to memorize lists or complex concepts for your Montana real estate exam.

Acronyms are formed by taking the first letter of each word in a phrase to create a new word. A good example of a real estate acronym is PITI which stands for Principal, Interest, Taxes, and Insurance.

On the other hand, mnemonic devices are memory aids that help you associate information with something more memorable. A good mnemonic device for a property's four essential characteristics to have value would be “Don’t Utter Silly Things.”

• Don’t for Demand
• Utter for Utility
• Silly for Scarcity
• Things for Transferability

Join a Study Group

Joining a study group when studying for your Montana real estate exam can be a beneficial strategy to enhance your learning and improve your chances of success. Here are some reasons why joining a study group can be helpful:

• Studying in a group can provide a sense of accountability and motivation. 
• Study groups often involve active learning techniques such as group discussions, explaining concepts to others, and solving problems together. This promotes deeper understanding and retention of the material compared to other learning methods.
• Shared knowledge and insights as each member of a study group may have a unique approach to studying or problem-solving. You can learn new study techniques, gain insights into alternative strategies, and identify areas where you may need to improve your understanding.

Get Guided Help

Studying for the Montana real estate exam can be challenging due to the mandatory 60-hour pre-licensing coursework. Therefore, you should consider getting guided help from our Montana real estate exam prep package.

Our Montana real estate exam prep package is a guided curriculum that will introduce all the concepts you will see on the exam. It’s perfect for giving you direction, which will make studying easy.

It also comes with Montana practice exams that you can take and retake to help you feel confident walking into the exam center. You’ll also get:

• 1,500 Montana real estate exam practice questions
• Customizable practice state exams
• Vocabulary flashcards
• Video explanations
• E-book study guide

Final Thoughts on the Real Estate Exam in Montana

The real estate exam in Montana is a significant milestone for individuals seeking to become licensed real estate professionals in the state. It requires thorough preparation and a solid understanding of several real estate concepts. To succeed on the exam, it is crucial to invest time in studying relevant materials, utilizing study resources, and taking practice exams.