Article: The Michigan's real estate licensing exam is administered by PSI. PSI offers a number of study materials for their exams on their website. Start with the Candidate Information Bulletin and use the examination content outline to cover the basics of the test. You can also purchase additional prep materials at http://www.psionlinestore.com/. To make the most of your study time, find a quiet place free of noise or distractions. Set aside an hour or two a day for several weeks prior to the exam to make sure you are ready when test day comes. If your salesperson application is approved, you will receive an email from the State of Michigan which includes instructions on how to register for your licensing exam. The email will include a unique 6-digit number known as your Michigan Real Estate (or MIRE) number, which is required to register for the test. You must pay a $76 fee at the time that you register. You will also schedule your exam at this time. The license examination is a closed-book, computer based test that covers 110 questions and lasts 180 minutes. You will be allowed 15 minutes to complete a tutorial to ensure you understand the format of the test. This time will not count against the time allowed for the test. You must receive a score of 70% to pass.  The test covers subjects you should have studied in your prelicensure courses, such as property ownership, land use controls and regulations, market analysis, and financing. If you paid attention in school and use your study time wisely, you should be familiar with the information covered on the test.  If you pass the exam, you can receive an on-site license at the examination site, meaning you can practice real estate immediately if you already have a broker!

What is a summary?
Use prep materials from PSI to study for the exam. Register for the test with PSI. Pass the test with a score of at least 70%.