David holds a Minnesota real estate salesperson license and has been working with Sunrise Realty for three years. He wants to upgrade to a broker license so he can open his own brokerage. Under Minnesota Statutes Chapter 82, which combination of requirements must David satisfy to qualify for a Minnesota broker license?
Correct Answer
C) Pass the broker exam, complete 30 additional hours of broker-specific pre-license education, and have at least three years of active salesperson experience.
Minnesota requires passing the broker exam, completing 30 additional hours of broker-specific pre-license education, and accumulating at least three years of active licensed salesperson experience before applying for a broker license.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Commingling is the illegal act of mixing client trust funds with a broker's personal or business operating funds; conversion is the misappropriation of those funds.
Continuing education (CE) refers to the ongoing coursework that licensed real estate professionals must complete during each renewal cycle to maintain an active license. CE ensures agents stay current with changes in laws, regulations, and industry practices.
The National Do Not Call Registry is a federal program administered by the FTC that allows consumers to opt out of receiving unsolicited telemarketing calls, including calls from real estate agents soliciting business.
More Practice Of Real Estate Questions
In Wyoming real estate practice, an associate broker or salesperson is not associated with a responsible broker at renewal. What should the licensee remember?
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