Vermont Real Estate Exam Course Guide: Licensing Exam Structure, Fees, and Prep

The Vermont real estate licensing exam has two parts: a national portion administered by PSI Services and a state portion completed within the online license application. After finishing the required 40-hour pre-licensing real estate exam course, candidates must pass both portions to receive a salesperson or broker license. This guide covers the exam structure, content areas, fees, scheduling, scoring, retake rules, and practice resources available to Vermont candidates.

Vermont real estate exam structure and administration

Vermont tests real estate candidates on two distinct bodies of knowledge: national real estate principles and Vermont-specific law. The national portion is a computer-based exam administered by PSI Services under contract with the Vermont Real Estate Commission, while the Vermont state portion is completed online within the license application through the Office of Professional Regulation (OPR).

Under Vermont Real Estate Commission Administrative Rules Rule 2.4^[1], a salesperson license requires passing "the national and state examinations required by the Commission within the two years immediately preceding application" and affiliation with a brokerage firm. The rules, effective December 1, 2015, establish the exam requirement under 26 V.S.A. Chapter 41^[2], which governs real estate brokers and salespersons in Vermont.

The state portion works differently from the national exam. According to the Vermont OPR Salesperson & Broker FAQs^[3], "the state exam is now a part of the application process," and candidates receive a link to take it within their online application. The OPR confirms that "all applicants must take the state exam. There are no exceptions," meaning even licensees transferring from other states must complete the Vermont state exam.

National portion: content areas and format

The national portion contains 100 multiple-choice questions across seven content areas, with approximately 2.5 hours allotted for completion. PSI develops the exam content using job analysis surveys and input from national subject matter experts, and the national portion is ARELLO-accredited, according to the PSI real estate guide^[4].

The following table shows the seven content areas and the approximate number of questions dedicated to each:

Agency and contracts is the largest content area, making it the highest-yield topic for study time. Property management is the smallest section but still tests leasing fundamentals and tenant law that overlap with broader exam content.

The PSI real estate exam overview^[5] confirms that national exam content is developed in collaboration with industry experts and regularly reviewed to reflect changes in laws and market conditions. This means the question pool evolves over time, so candidates should prepare using current materials rather than outdated study guides.

Vermont state portion: what it covers

The state portion tests knowledge of Vermont real estate law through approximately 36 multiple-choice questions with 1.5 hours to complete. Candidates access this portion through the OPR's online licensing platform after submitting their license application, and must also upload proof of passing the national exam as part of the application package.

The state portion covers topics specific to Vermont practice, including Vermont license law, agency relationships under Vermont rules, state-specific contracts and disclosures, land use and development regulation, and transfer of title. Many of these topics overlap with the content areas in the Vermont OPR Mandatory Course Outline^[6] used for continuing education, including Act 250 land use law, flood hazard and lead paint disclosure rules, short-term rental regulations, and Vermont sign law.

The Vermont OPR Application Instructions^[7] specify that the salesperson application by examination requires submitting the online application with the application fee, uploading a course completion certificate for the 40-hour pre-licensing course, uploading a verification of employment or supervision form, completing the state exam within the online application, and uploading proof of passing the national salesperson examination.

How much the Vermont real estate exam costs

The national exam costs $110 per attempt, paid directly to PSI when scheduling. The state exam carries no separate fee because it is included in the $100 license application fee that candidates pay to the OPR when submitting their online application.

According to the PSI Candidate Information Bulletin^[8] for Vermont real estate examinations, dated December 1, 2025, the examination fee is $110. The $100 application fee is established by the Vermont Legislature under 26 V.S.A. § 2255^[9], most recently amended effective June 20, 2023. The Vermont OPR Initial Licensing & Renewal Fees^[10] schedule, updated July 1, 2025, lists the salesperson application fee at $100 and the broker application fee at $100.

Each retake of the national exam requires paying the $110 fee again.

Scheduling your exam and what to expect on test day

Candidates schedule the national exam through PSI's website or by phone, choosing between a PSI test center or remote online proctoring. PSI operates a testing center in South Burlington, Vermont, and additional centers in neighboring states including New Hampshire, Massachusetts, and New York, giving candidates location flexibility.

The PSI real estate exam overview^[5] confirms that delivery options include "secure PSI Test Centers and remote online proctoring." The Vermont OPR Salesperson & Broker FAQs^[3] direct candidates to PSI for national exam scheduling, and candidates can also call PSI at (855) 746-8173, per the Vermont REALTORS® sales agent guide^[11].

On test day, candidates must bring two forms of identification: one government-issued photo ID and one secondary ID with a signature. A basic, non-scientific calculator is permitted. Arriving more than 15 minutes after the scheduled start time results in denied entry and forfeiture of the exam fee. Cell phones, study materials, and personal items are not permitted in the testing room.

Passing score and exam results

The passing score is 75% on both the national and state portions, determined using a minimally competent practitioner methodology. Subject matter expert panels establish the minimum score a qualified candidate should achieve, rather than applying a fixed percentage cutoff.

Candidates receive their score report immediately after completing the national exam, whether at a test center or through online proctoring. The report shows a pass or fail result for each portion. Vermont does not publish a statewide exam pass rate, so candidates cannot rely on aggregate statistics to gauge difficulty or compare Vermont's exam to other states.

A candidate who passes only one portion does not need to retake the passed portion, but must retake the failed portion under the retake policy described below.

Retake policy and exam score validity

If you fail one portion of the exam, you may retake only that portion within the next six months. After two failures or six months, you must retake the full exam. Each retake requires paying the $110 national exam fee again.

Under Vermont Real Estate Commission Administrative Rules Rule 2.7^[1]:

A candidate who fails one part of the exam may retake that part within the next six months. After six months or two failures, the candidate must retake the full exam.

A passing national exam score remains valid for two years preceding the date of application submission. The Vermont OPR Application Instructions^[7] state that "applicants must have taken and passed the national exam within two years preceding the date of application submission." If you do not submit your application within that window, you must retake the exam.

After passing both portions and submitting the online application, the OPR processes applications within 3-5 business days, according to the OPR Salesperson & Broker FAQs^[3]. First-time licensees must also complete 8 hours of post-licensure education within 90 days of license issuance, per the application instructions.

Practice tests and exam prep resources

PSI offers a national real estate salesperson practice test with 100 questions through its online store^[12], and Pearson VUE offers a similar national practice test for $19.95. Neither vendor offers a Vermont-specific practice test, so candidates preparing for the state portion must rely on the Vermont statutes and administrative rules as their primary study material.

The PSI practice test mirrors the national exam's 100-question format and covers the same content areas. The PSI online store^[12] lists practice test products including single-attempt tests, three-packs, and study packs. The store also offers state-specific combo practice tests for several states including Massachusetts, Illinois, Tennessee, New Jersey, and Georgia, but Vermont is not among them.

Pearson VUE's real estate practice tests^[13] cost $19.95 each and cover general national topics only, with no state-specific option. Pearson VUE is not the exam vendor for Vermont (Vermont uses PSI), but its national practice test covers the same general real estate content areas that appear on the PSI national exam.

For national real estate exam prep, the PSI practice test is the most directly aligned with the Vermont exam format because it comes from the same vendor that administers the actual exam. Combining a PSI real estate exam practice test with review of the Vermont administrative rules gives candidates coverage of both exam portions.

The Vermont broker exam: how it differs

The broker exam uses a different national portion format and requires candidates to meet experience thresholds before becoming eligible. Under Vermont Real Estate Commission Administrative Rules Rule 2.5^[1], broker licensure requires "at least two years experience as a licensed salesperson with at least eight separate and unrelated closed transactions," plus passage of both national and state broker examinations within two years preceding application.

The broker national exam, administered by PSI, uses simulation-based problems that test information gathering and decision-making skills, unlike the salesperson exam's multiple-choice format. The broker state portion includes more questions than the salesperson state portion.

The same retake policy applies to the broker exam: a candidate who fails one portion may retake it within six months, and after two failures or six months must retake the full exam.

Study strategies for passing the Vermont real estate exam

Prioritize your study time based on the content area distribution in the table above, allocating more effort to the topics with higher question counts. The pre license real estate exam course provides the foundational knowledge for both portions, so thorough completion of that course is the essential first step.

For the state portion, focus on Vermont's real estate statutes^[2] and the Commission's administrative rules^[1], which codify the Vermont-specific law tested on the state exam. The Vermont OPR Mandatory Course Outline^[6] also lists current topic areas that overlap with state exam content, including Act 250 land use regulation, disclosure rules for flood hazard and lead paint, and Vermont sign law.

Vermont does not publish a statewide exam pass rate, so candidates should focus on thorough preparation rather than comparing difficulty to other states. The next step after passing both portions is submitting the online application through the OPR licensing portal with the $100 application fee, course completion certificate, and verification of employment form to activate the license.