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Real Estate Salesperson Exam — National Portion

Prohibitions (MN): practice questions

Our Real Estate (National) bank has 3 questions on this topic. Here are 3 of them with answers; the full mock exam draws from every topic, like the real one.

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Question 1 · Minnesota

May a Minnesota licensee require a buyer to use a particular title company at closing?

  1. Yes
  2. No
  3. Only for cash buyers
  4. Only for new homes
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B. No — Minn. Stat. 82.81, subd. 8.

Question 2 · Minnesota

If the owner can't close through no fault of the buyer, may the Minnesota listing broker keep part of the buyer's deposit?

  1. Yes, up to half, to cover marketing costs
  2. No, absent a separate agreement with the buyer
  3. Yes, up to $500
  4. Only for expenses
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B. No, absent a separate agreement with the buyer — Minn. Stat. 82.81, subd. 3.

Question 3 · Minnesota

May a Minnesota purchase agreement include a hold harmless clause for the licensee who isn't a party?

  1. Yes
  2. No
  3. Only for commercial deals
  4. Only with the buyer's initials
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B. No — Minn. Stat. 82.81, subd. 5.

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