Minnesota State Real Estate Practice Test

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Prepare for the Minnesota State Real Estate Test with questions designed for better comprehension. Use flashcards, access multiple choice questions with detailed explanations, and boost your chances of passing successfully.

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If a broker's license has been expired for over 2 years, what is necessary for re-licensure?

Take the broker exam again
Apply for a waiver
Start over as a new salesperson
Complete additional continuing education

The correct answer is: Apply for a waiver

The correct choice in this case is to take the broker exam again. When a broker's license has been expired for over two years, the individual is no longer eligible to renew it simply by completing continuing education or other minor requirements. The regulations set by Minnesota require that individuals who have allowed their broker license to lapse beyond two years must retake and pass the broker exam in order to be re-licensed. This requirement ensures that the applicant is current with the latest laws, practices, and regulations within the real estate profession, which may have changed since their license expired. Therefore, retaking the broker exam is critical for demonstrating the necessary knowledge and competency to re-enter the real estate market as a licensed broker. Other options like applying for a waiver, starting over as a new salesperson, or completing additional continuing education do not fulfill the specific requirements for re-licensure after an extended expiration period. Options involving waivers or additional education would not satisfy the requirement to demonstrate current knowledge by passing the broker exam.