Vermont’s real estate exam is administered by PSI. Candidates may schedule an exam by visiting the following site: http://schedule.psiexams.com. 

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Current Processing Timeframes: Processing typically takes 3-5 business days.

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Salesperson Exam

• All applicants must be at least 18 years of age and:
• Must provide proof of having completed 40 hours of pre-license education
• Must provide verification of employment or supervision 
• Must submit the online application 
• Must successfully pass the real estate exam
• Must successfully complete 8 hours of approved post-licensure education within 90 days of receiving license
• Must pay exam fee ($110) and license fee ($50) 

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Broker Exam

• All applicants must be at least 18 years of age and:
• Must have a high school diploma or equivalent 
• Must provide proof of having completed 40 hours of pre-license education
• Must provide verification of employment or supervision
• Must submit the online application 
• Must successfully pass the real estate exam
• Must provide documentation of salesperson experience
• Must pay exam fee ($110) and license fee ($50)

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Salesperson Examination: The exam consists of a national portion, which includes 100 questions, and a state portion, which includes 36 questions.  Candidates have a total of 4 hours to complete the exam.

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Broker Examination: The exam consists of a national portion, which includes 10 simulation problems, and a state portion with 40 questions. Candidates have a total of 4 hours to complete the exam.

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The exam is given in multiple-choice format and is taken on the computer. It may be taken at the following locations: Burlington, South Burlington; in New Hampshire at Concord, Manchester, Nashua, and Portstmouth; in Massachusetts at Boston, Lawrence, and Springfield; and at Clifton Park, New York. 

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The following categories are featured on both the Salesperson and Broker Licensing Exam. The percentages show the make-up of how many questions you should expect to see from each category. 

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The national portion covers the following topics:

• Agency relationships and contracts (28 items)
• Real property ownership/interest (13 items)
• Finance (14 items)
• Real property (14 items)
• Marketing regulations (purchase and rental) (10 items)
• Property management (8 items)
• Real estate calculations (13 items)

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The state-portion of the exam covers the following topics:

• The Real Estate Commission
• Licensure
• Regulations governing the activities of licensees
• Related laws
• Broker topics 

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The broker simulation exam covers the following topics:

• Agency relationships and property representations (3 items)
• Fair Housing and other governmental regulations (2 items)
• Handling money (2 items)
• Training and supervision of licensees (1 item)
• Plus one primary issue varying by examination form (1 item)  

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On both the salesperson and broker examinations, a statistical process called equating is used to ensure consistency in the meaning of the score required to pass the examination. If the raw passing score varies slightly between different versions (or “forms”), the level of knowledge required to achieve the passing score remains the same, thus assuming that all candidates are treated fairly. 

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All applicants must provide 2 forms of identification. These must be current and contain a valid signature. The name on the identification must exactly match the name on the candidate’s registration.

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Identification can be any of the following:

• Driver’s license
• Passport 
• Green card 
• Social Security card 
• Debit or credit card (with signature)

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Candidates are also permitted to bring a basic, non-scientific calculator.

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