Nebraska Real Estate Exam - Practice Tests, Locations, & Pass Rates
Working toward becoming a Nebraska real estate agent is an exciting but challenging process. In particular, preparing for the Nebraska real estate exam can be stressful. For some, it's the biggest obstacle standing between them and their dream job.
That's where we come in. Below, we'll review everything you need to know to prepare for the Nebraska Real Estate Salesperson Exam.
Frequently Asked Questions
You might be wondering where to start. This article will provide essential study tips and answer the most frequently asked questions, including:
- How do you schedule your exam?
- Where do you take the Nebraska real estate exam?
- How much does it cost to take the Nebraska real estate exam?
- Where do you take the Nebraska real estate exam?
- What is on the Nebraska real estate exam?
- How hard is the Nebraska real estate exam?
- Nebraska real estate exam practice questions
- Important calculations to remember for the exam
- What should you expect on the day of your test?
- How will you get your exam results?
- What do you do after you complete your exam?
- Where do you learn more about getting your real estate license in Nebraska?
What Comes Before the Nebraska Real Estate Exam?
Nebraska's application process is a bit odd in that most states require the exam before you submit your application, while in Nebraska, you submit your application before the exam.
Keep in mind that Nebraska requires you to be at least 19 years old before your real estate license will be issued. You'll also need a high school diploma or the equivalent.
Step 1: Pass Your Pre-License Courses
The first step in getting your real estate license in Nebraska is to complete 66 hours of Nebraska-approved pre-license real estate education. There are three required courses:
- 30-hour Nebraska License Law
- 30-hour Real Estate Principles & Practices
- 6-hour Developing Professional Conduct and Ethical Practices
As a Nebraska-approved training provider, we have discounted packages that include all your required courses as well as Nebraska real estate exam prep.
Step 2: Submit Your License Application
Before you can register for the Nebraska real estate exam, the Nebraska Real Estate Commission (NREC) has to prequalify you.
You'll submit your application, along with a passport-type photo, proof of high school education or the equivalent, proof that you've passed your pre-license courses, and all required fees.
Step 3: Undergo a Criminal Background Check
NREC has to get your criminal background check before you'll be able to take the exam.
Once your license is on file, you'll submit your fingerprints and wait 4-6 weeks to hear back.
How To Schedule Your Exam
Once Nebraska receives your real estate license application, they'll let you know that you have 12 months to register for and pass your real estate exam.
All Nebraska real estate exams are scheduled through a company called PSI. You can schedule online or by phone.
You can choose to take the test in the morning or the afternoon, but the available days will vary by site. For example, some testing sites only offer tests on Saturdays, while others do not offer Saturday tests.
Where Do You Take the Nebraska Real Estate Exam?
PSI has testing site locations throughout the state of Nebraska:
- Lincoln
- North Platte (2 locations)
- Omaha (2 sites)
- Scottsbluff
How Much Does the Nebraska Real Estate Exam Cost?
The Nebraska real estate exam costs $150 per attempt.
How much does it cost to get a real estate license in Nebraska, in total?
- Pre-license courses will vary in cost. Our retail price (with exam prep!) is $490 but discounts are often available that bring the cost under $350.
- The Nebraska license application fee is $135
- Background check fees may apply
- Exam fee $150
- License issuance fee $70
All in all, a Nebraska real estate license will cost you at least $700.
How Hard Is the Nebraska Real Estate Exam?
The Nebraska real estate exam's pass rate is only 53%. In other words, only a little more than half of test takers pass on the first try.
The good news is that the number rockets up to 95% among students who take exam prep seriously.
Every time you take the test, it'll cost you $150. That's why it's a smart bet to invest in a package like our Nebraska real estate exam prep – which you can bundle with your NE pre-license courses or purchase separately later.
With an exam prep package, you'll get topic reviews, hundreds of practice questions, and feedback on your answers so that you'll be prepared when test time comes.
What Is on the Nebraska Real Estate Exam?
The Nebraska real estate exam has a national portion and a state-specific portion. It covers key information that you will have learned in your pre-license coursework, including:
- National
- Property Ownership (8% of the test)
- Land Use Controls & Regulations (5%)
- Valuation and Market Analysis (7%)
- Financing (10%)
- General Principles of Agency (13%)
- Property Disclosures (6%)
- Contracts (17%)
- Leasing and Property Management (3%)
- Transfer of Title (8%)
- Practice of Real Estate (13%)
- Real Estate Calculations (10%)
- State
- Duties and Powers of the Real Estate Commission
- Licensing Requirements
- Statutory Requirements Governing the Activities of Licensees
- Additional Requirements
You can find a more detailed breakdown in PSI's information booklet.
Nebraska Real Estate Exam Practice Questions
If you're looking to find a Nebraska real estate practice exam free, PSI's information booklet/pdf has a number of sample questions inside.
Here are a few examples:
A. Which of the following interests in property is held by a person who is granted a lifetime use of a property that will be transferred to a third party upon the death of the lifetime user?
- A life estate.
- A remainder estate.
- An estate for years.
- A reversionary estate.
B. Which of the following statements BEST identifies the meaning of the term “rescission of a contract”?
- A ratification of a contract by all parties.
- A return of all parties to their condition before the contract was executed.
- A transfer or assignment of a particular responsibility from one of the parties to another.
- A review of the contract by the legal counsel of either party that may result in a cancellation without penalty or further obligation.
C. Which of the following clauses in a mortgage allows the lender to demand loan repayment if a borrower sells the property?
- Defeasance
- Prepayment
- Acceleration
- Alienation
Correct answers to these questions: A=1, B=2, C=4
You can find a few more free practice questions in the booklet through PSI's website or NREC's. You can probably scrounge a few more on the internet.
But if you want unlimited practice questions and real-time feedback on incorrect answers, you can get that with our Nebraska real estate exam prep package.
Important Calculations to Remember
For a salesperson license, 10% of the national exam questions will cover real estate calculations. This includes:
- Basic math concepts
- Loan-to-value ratios
- Discount points
- Equity
- Down payment/amount to be financed
- Calculations for transactions
- Property tax calculations
- Prorations
- Commission and commission splits
- Seller’s proceeds of sale
- Buyer funds needed at closing
- Transfer fee/conveyance tax/revenue stamps
- PITI (Principal, Interest, Taxes and Insurance) payments
Study up and make sure you know the necessary formulas!
What Should You Expect on the Day of Your Test?
PSI recommends that you arrive at least 30 minutes early on the day of your exam so that you have time for the sign-in and identification process. You'll also have time to use a tutorial to familiarize yourself with the exam. Plus, they won't let you in if you're late, and you'll forfeit your $150 exam fee.
You need to bring two forms of identification to the testing site. One should be your primary state ID with your photo and signature, like a driver's license, ID card, or passport. The other can be a signed credit or debit card.
You won't be allowed to take electronic devices of any type into the testing room. You'll be allowed a non-programmable calculator, but this really isn't necessary since there's a calculator inside the testing program.
You'll be asked to remove bulky or loose clothing. Purses, notebooks, writing implements, food, drink, and good luck items must all be left in secure storage.
The test will be on a computer, with questions appearing one at a time. You'll be able to go back to specific questions and change your response at any time during the test.
You have 150 minutes for the 80-question national portion of the salesperson exam and 90 minutes for the 50-question state portion.
The exam may also include 5-10 "experimental" questions that won't affect your score, so if you see something you don't know, don't panic! That could be a question that won't count against you anyway.
How Will You Get Your Exam Results?
You'll get your exam results immediately after your exam. If you pass, you'll get a score report. If you fail, you'll get a diagnostic report that will help you understand what topics you need to study.
What Happens If You Fail the Nebraska Real Estate Exam?
The national and state portions of the exam are scored separately, so it's possible to pass one and fail another. If this happens, you'll need to schedule a time to retake the portion of the exam that you failed.
To pass the national portion, you need to answer 60 of the 80 questions correctly. To pass the state portion, you need to answer 38 of the 50 questions correctly.
If you pass one portion and fail the other, your pass score stays good for 3 exam attempts or 6 months, whichever comes first. In other words, you need to pass the other portion within 6 months or by the third try. If you don't, your passing score is wiped, and you start over.
The good news is that purchasing an exam prep package drastically improves your chances of passing the test on the first try.
What To Do After You Complete Your Exam
Keep the score reports for portions of the exam that you pass.
After you've passed both portions, you'll need to submit those reports, along with the License Issuance Form, to NREC. The license issuance form will need to be signed by your employing broker. NREC also requires you to provide a certificate of coverage for errors and omissions insurance before they give you an active license.
You have 30 days after your last qualifying score to finish the process and become a practicing Nebraska real estate agent!
Where Do You Learn More About Getting Your Real Estate License in Nebraska?
The most up-to-date and accurate information about Nebraska real estate licensing can be found through the Nebraska Real Estate Commission (NREC). Their contact information is:
Nebraska Real Estate Commission
P.O. Box 94667
Lincoln, NE 68509-4667
Phone: 402-471-2004
Get Your Nebraska Real Estate License
While taking the Nebraska real estate exam might sound challenging, VanEd can help make it easier. Take our prelicensing course to get started, then check out our exam prep resources to help you ace that test. Don’t wait, enroll today!
Written and Published by: VanEd
