South Dakota Real Estate Exam Info

What is required to get a license?

For broker associate:

  • Complete and pass the real estate examination.
  • Complete application form.
  • Proof of completion of 116 hrs Pre-License Education.
  • Contact the Commission office to request a set of DCI and FBI fingerprint cards and send them to the Real Estate Commission with your completed application and a check for $43.25 made payable to DCI (in addition to the licensing fee).
  • Include a broker´s letter to activate your license with your application (this can be sent later if you wish, but your license will remain inactive).
  • Proof of age 18 and above.
  • Contact http://www.risceo.com/states/south-dakota/ to enroll in the group policy for errors and omissions insurance.
  • Fees: Examination Fees (Broker Associate: $98). License (Broker Associate: $225)

For brokers:

  • Complete and pass the real estate examination (multiple choice and simulation).
  • Complete application form.
  • Proof of completion of 116 hrs Pre-License Education.
  • You must have proof of experience: full-time by an active principal broker for at least 2 years.
  • Contact the Commission office to request a set of DCI and FBI fingerprint cards and send them to the Real Estate Commission with your completed application and a check for $43.25 made payable to DCI (in addition to the licensing fee).
  • Include a broker´s letter to activate your license with your application (this can be sent later if you wish, but your license will remain inactive).
  • Proof of age 18 and above.
  • Contact http://www.risceo.com/states/south-dakota/ to enroll in the group policy for errors and omissions insurance.
  • Fees: Examination Fees (Broker: $98). License (broker: $225).

What score do I need to pass?

The multiple choice exam consists of 100 national questions and 57 state-specific questions. The difficulty of each item on the examination for the “minimally competent practitioner” (MCP) has been previously evaluated. These judgments are averaged to determine the minimum passing score.

The simulation portion consists of 11 simulation problems 9 will be scored and 2 are samples being tested for future examinations. A minimum passing level (MPL) was established for the section using the scoring weights assigned to the options in that section and represents the level of performance expected of a “minimally competent practitioner.” The overall examination has an Information Gathering (IG) MPL and a Decision Making (DM) MPL, which represent the sums of the MPLs of all IG and DM sections on the examination. Your total raw scores must meet or exceed the MPL in both IG and DM to pass this examination.

You will receive your score immediately after you complete your exam.

How much time do I have to complete the exam?

  • For the broker associate exam: you are allowed 2.5 hours for the national portion and 1.5 for the state portion.

  • For the broker exam: you are allowed a total of 4 hours for the multiple choice portion and 3 hours for the simulation portion.

What should I bring with me for the exam?

  • 2 Forms of identification with matching names, non-expired and containing a valid signature. (Driver’s license, passport, green card, U.S. social security card, debit or credit card with signature). If your name on your registration is different than on your identification, you must bring proof of your name change.
  • Basic (non-scientific) calculator.

What is the format of the exam?

The exam is given on a computer.

What is on the exam?

The national portion of the multiple choice exam consists of the following sections:

  • 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 multiple choice exam consists of the following sections:

  • Duties and Powers of the Real Estate Commission.
  • Licensing Requirements.
  • Statutory Requirements Governing the Activities of Licensees.

Broker simulation examination contents:

  • Primary Issues:
  1. Agency Relationships and Property Representations.
  2. Fair Housing and Other Governmental Regulations.
  3. Handling Money.
  4. Training and Supervision of Licensees.
    Plus one primary issue varying by examination form.
  • Section Topics:
    A. Agency
    B. Contracts
    C. Freehold and Leasehold
    D. Property Management
    E. Finance
    F. Government Regulations and Private Restrictions
    G. Description and Measurement
    H. Valuation
    I. Conveyance
    J. Calculations
    K. Ethical Behavior (must be incorporated in at least 4 problems)

  • Property Types:

  1. Residential
  2. Commercial
  3. Property Management
    Plus two property types varying by examination form.

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