Montana Real Estate Crash Course and Exam Prep

The Montana real estate exam is administered by PSI. Candidates are encouraged to schedule an exam online by visiting the site or by calling PSI at 800-345-6559. 

Current Processing Timeframes: Real estate licenses are typically processed in 2-4 weeks.

Salesperson Exam

• Applicants must be at least 18 years of age and:
• Must have received credit for completion of 2 years of full curriculum study at an accredited high school or equivalent
• Must have successfully completed 70 hours of approved pre-licensing education within the past 24 months
• Must have passed the Montana Real Estate Salesperson Examination within the past 12 months
• Must be employed or under contract with a licensed broker with a supervising broker endorsement 
• Must provide proof of Professional Liability & Errors and Omissions insurance 
• Must pay exam fee ($106)
• Must pay application fee ($70)

Broker Exam

• Applicants must be at least 18 years of age and:
• Must have graduated from an accredited high school or equivalent 
• Must have completed 60 hours of approved pre-licensing education within the past 18 months 
• Must have passed the Montana Real Estate Broker Examination within the past 12 months 
• Must have a minimum of 2 years' experience as a licensed salesperson
• Must have completed the required experience points
• Must provide proof of Professional Liability & Errors and Omissions insurance 
• Must pay exam fee ($106)
• Must pay application fee ($90)

Salesperson Examination: The exam consists of a national and a state portion. There are 80 national questions and 33 state-specific questions. Candidates are given 3.5 hours to complete the exam.

Broker Examination: The broker exam consists of a national and a state portion. There are 75 national questions and 40 state-specific questions. Candidates are given 3.5 hours to complete the exam.

The exams are multiple-choice and are given by computer. They can be taken at the following locations: Billings, Great Falls, Helena, Kalispell, and Missoula.

Salesperson Examination:

The national portion of the exam covers the following topics:

• Agency relationships and contracts
• Real property ownership/interest
• Finance
• Real property
• Marketing regulations (purchase and rental)
• Property management
• Real estate calculations 

The state-specific portion of the exam covers the following topics:

• The Real Estate Licensing Agency's Powers
• Licensing
• Requirements governing the activities of licensees
• Additional Topics: Recovery/Surety Fund, Land Description, Common Interest Ownership/Condominium, Landlord/Tenant relationship, Foreclosure and Redemption, and Statute of Frauds

Broker Examination:

• Primary Issues: 

• Agency relationships and Property representations
• Fair Housing and Other Governmental regulations
• Handling Money
• Training and supervising of licensees
• Plus one of the following topics varying by exam: agency, contracts, freehold and leasehold, property management, finance, government regulations and private restrictions, description and measurement, valuation, conveyance, calculations, and ethical behavior.

• Section Topics:

• Agency
• Contracts
• Freehold and Leasehold
• Property Management
• Finance
• Government regulations and private restrictions
• Description and measurement
• Valuation
• Conveyance
• Calculations
• Ethical Behavior (must be incorporated in at least 4 problems)

• Property types:

• Residential
• Commercial
• Property management
• Plus two property types varying by examination form

Salesperson Examination: You must correctly answer at least 70% of the questions to pass on the national and state-specific portions. 

Broker Examination: You must correctly answer at least 80% of the national questions and 75% of the state-specific questions in order to pass.

All candidates are required to bring 2 forms of identification. The primary form must be government-issued, current, and include the applicant's name, signature, and photograph. No form of temporary identification will be accepted. 

The primary form of identification can be any of the following:

• Driver's license with photograph
• State identification card with photograph
• Passport
• Military identification card with photograph 

The secondary form of identification must include the candidate's name and signature. The secondary identification can be any of the following:

• Credit card with signature
• Social Security card with signature 
• Employment/Student ID card with signature

If an applicant's name on their registration is different than that on their identification, the applicant must bring proof of name change.

• Real Estate Salesperson Licensing Checklist  
• Real Estate Broker Licensing Requirements Checklist  
• Approved Pre-Licensing Courses
• Montana Board of Realty Candidate Information Bulletin (Content outline and sample questions are on pages 8-11)