MIRES - Michigan Real Estate Salesperson Exam

Question 1: A broker in Grand Rapids and a seller sign a written document that creates an agency relationship and sets out what the brokerage will do to market the home. Which of the following is the Michigan statutory name for that document?

A property management employment contract

A designated agency agreement

A limited service agreement

A service provision agreement

Question 2: A buyer touring homes in Ann Arbor asks the licensee showing her a house whether he represents either side. He tells her he represents neither the buyer nor the seller. Which of the following Michigan terms describes the role he has taken?

A transaction coordinator

A supervisory broker

A designated agent

A dual agent

Question 3: A Michigan broker is asked to represent a client in the sale of a twelve-unit apartment building in Detroit and wonders whether the statutory agency disclosure form applies to that deal. Which of the following describes the scope of that requirement?

It covers residential property of any size

It covers only new construction

It covers one to four residential units

It covers all Michigan real estate

Question 4: A licensee meets a prospective seller at an open house in Royal Oak, and the seller begins describing how quickly he must move and the lowest number he would accept. Which of the following describes when Michigan required the agency disclosure to be delivered?

Before writing an offer for him

Before any confidential information was shared

Before showing any property to him

At the first substantive contact

Question 5: A Michigan salesperson gives a buyer a spoken summary of the available agency relationships during a car ride between showings in Novi and never puts anything in writing. Which of the following describes the sufficiency of what he did?

Insufficient, because the disclosure must be written

Sufficient if his broker keeps a log

Sufficient if the buyer later signs anything

Sufficient because no offer was written

Question 6: A Michigan seller in Traverse City wants to reduce her fee by handling the negotiation herself, and her broker prepares paperwork reflecting that choice. Which of the following describes how Michigan documents a client's waiver of certain services?

By a handwritten note in the listing

By notice filed with the department

By oral agreement confirmed at closing

On a separate limited service agreement form

Question 7: A Michigan broker representing a seller in Midland learns from her client that he will accept far less than the listed price if a cash offer appears. Which statutory duty most directly governs whether she may share that with a buyer?

Referral to other professionals

Confidentiality

Accounting

Reasonable care and skill

Question 8: A buyer client in Kalamazoo asks his Michigan buyer's agent whether an unusual crack across the basement wall of a listed home is a structural problem, and the agent has no engineering training. Which statutory duty tells the agent what to do?

Performance of the agreement's terms

Compliance with laws and regulations

Loyalty to the interest of the client

Referral to other licensed professionals

Question 9: A Michigan listing broker in Holland accepts an earnest money deposit and later receives an appraisal fee refund belonging to her seller client. Which of the following statutory duties requires her to report on those funds to the client?

Confidentiality of client information

Loyalty to the client's interest

An accounting in a timely manner

Reasonable care and skill in representation

Question 10: A seller client in Battle Creek signs a limited service agreement waiving several of the services his broker would normally provide, and he wants to waive as much as Michigan permits. Which of the following services can never be waived?

Presenting offers and counteroffers

Marketing the property as agreed

Assisting with negotiation of offers

Assisting after the agreement is executed

Question 11: A Michigan buyer's agent in Lansing sits down with his client to write an offer on a house. Which of the following does the Michigan minimum service statute require him to recommend at the time that offer is executed?

A licensed home inspection before closing

A lender preapproval letter with the offer

A survey of the boundary lines

A fee title policy at purchase price

Question 12: A Michigan brokerage in Novi holds a listing on a home and, hoping to attract bargain hunters, runs an online advertisement describing the property as offered for sale by owner. Which of the following describes that advertisement under the minimum service statute?

Permitted on unlisted platforms only

Permitted if the commission is reduced

Prohibited, since a broker represents the seller

Permitted if the seller requests it

Question 13: A Michigan broker in Ypsilanti signs a listing agreement with a seller in June but never signs any written designated agency agreement with him afterward. Which of the following describes who represents that seller inside the brokerage firm during the listing?

Only the broker personally

The broker and all affiliated licensees

Only the licensee who took the listing

Whoever the seller later identifies

Question 14: Two salespersons at the same Farmington Hills brokerage are designated agents, one for the buyer and one for the seller, and both are working the same purchase. Which of the following describes the position of the broker and the supervisory brokers?

They have no role in the transaction

They must withdraw from one side

They become disclosed consensual dual agents

They become transaction coordinators

Question 15: Two designated agents in the same Sterling Heights office represent the buyer and the seller on one deal, and the buyer's agent asks when the clients must be told their broker stands on both sides. Which of the following states that deadline?

Before an offer is made or presented

Within two business days of acceptance

Before the closing is scheduled

Before the purchase agreement is signed

Question 16: A designated agent in a Troy brokerage learns her seller client's lowest acceptable price, while another licensee in the same office represents a buyer interested in that house. Which of the following describes how Michigan treats that knowledge?

Imputed to everyone in the office

Not imputed to the other licensee

It ends the seller's confidentiality entirely

It must be disclosed internally

Question 17: A designated agent in Grand Rapids is unsure how to handle a difficult repair negotiation and wants advice from an associate broker at her firm who is named in the agreement. Which of the following describes what she may share?

Confidential details, only after closing

Anything, with any affiliated licensee

Nothing confidential, under any circumstance

Confidential details, with a supervisory broker

Question 18: A seller in Okemos signed a listing agreement three weeks ago and now wants to name one particular salesperson at the firm as his own designated agent. Which of the following describes how Michigan permits the parties to make that change?

By the broker's internal assignment memo

By notifying the department in writing

By written addendum signed by the parties

By terminating and rewriting the listing

Question 19: A licensee in Warren quietly represents both the buyer and the seller in one residential transaction, telling neither of them anything about the other side. Which of the following describes his position under the Michigan prohibited conduct section?

Permitted if he treats both sides fairly

Permitted if both sides pay separately

Permitted, since Michigan allows dual agency

Subject to penalties for undisclosed dual agency

Question 20: A Michigan salesperson in Ferndale decides to buy a listed house for herself as an investment and prepares an offer to present directly to the owner of that property. Which of the following describes what she must tell that owner, and at what point?

Her licensure, before signing

Only her brokerage affiliation and address

Nothing, since she acts personally

Her licensure, at the closing

MIRES Michigan Real Estate Salesperson Exam - Set 2 - Part 1