Montana Salesperson Exam Prep Edge Free Assessment for MT Real Estate Exam Prep

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Below are free Montana real estate practice exam questions that will closely resemble your licensing exam. Review these questions and see what you know! The answers are provided beneath the question set.

1. Which of the following factors helps the IRS determine whether a licensee is classified as an employee or an independent contractor?

  1. Whether another broker supervises the licensee
  2. Whether the brokerage offers regular guidance and instruction to the licensee
  3. Whether the firm provides the licensee with a copy of the brokerage’s policies and procedures manual
  4. Whether the licensee receives benefits from the brokerage firm

2. A homeowner has converted two rooms in his home to a rental unit. What does the "Mrs. Murphy" exemption permit him to do?

  1. Advertise for a tenant of a specific race.
  2. Move out of the property and rent both portions of it, relying on the ""Mrs. Murphy"exemption to permit renting only to single females.
  3. Refuse to rent to a female tenant.
  4. Use the services of a real estate professional to advertise for a male tenant.

3. Jason is the seller’s agent. His seller has a leaky roof he’d rather keep secret from buyers. What should Jason do?

  1. Fulfill his duty of loyalty. Revealing the roof leak may not be in his client’s best interest.
  2. Fulfill his duty of obedience by keeping the roof secret, as his client instructed.
  3. Inform the seller that the roof leak is a material fact that he is obligated to disclose to buyers.
  4. Quit representing the seller.

4. Examples of real property and fixtures include which of the following?

  1. Above-ground pool and pool accessories
  2. Bathroom mirror hanging on a hook
  3. Photos and wall hangings
  4. Shelves attached to the wall with brackets

5. Which form of real property ownership (for owners other than married couples) means there's equal ownership shares with undivided possession rights?

  1. Joint tenancy
  2. Tenancy by the entirety
  3. Tenancy in common
  4. Tenancy in severalty

6. In which of the following situations can the state use its power of escheat?

  1. Hannah passed away with no children and no debt, other than $83,000 left on her mortgage.
  2. Maury died, and his three children are upset because his estate isn’t large enough to settle all of his debts.
  3. Nadine died with no heirs and no debt.
  4. Sam died with no will, and his son lives overseas.

7. To which of the following borrowers might a lender be most likely to recommend an FHA loan?

  1. An investor who intends to use equity in another investment property as his down payment
  2. A retired couple interested in downsizing from a large four-bedroom house they own free and clear to a condominium
  3. A single stockbroker with a $40,000 down payment and significant assets in a stock portfolio
  4. A young couple with only a few thousand dollars saved for a down payment and relatively low credit scores

8. Which of these situations does the Americans with Disabilities Act address?

  1. Marcus, a property manager, routinely dismisses rental applications from families with children under the age of 18.
  2. Meridian Apartments provides a gym and pool area for residents, but it's not accessible to residents who use wheelchairs.
  3. Metro Agents hired an interpreter to assist Spanish-speaking clients with the real estate process.
  4. The Golden Gate senior housing center has no exercise or activity center for its residents.
Answers: 1. D, 2. C, 3. C, 4. D, 5. A, 6. C, 7. D, 8. B

 

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