North Dakota Real Estate Salesperson Exam — All Questions

All Property Ownership Land Use Controls and Regulations Valuation and Market Analysis Financing Contracts Agency Property Disclosures Transfer of Title Practice of Real Estate Property Management Real Estate Calculations North Dakota License Law (NDCC 43-23)North Dakota Agency Relationships North Dakota Real Estate Practice North Dakota Licensing Requirements

3 questions

North Dakota License Law (NDCC 43-23)

Real estate salespersons in North Dakota are licensed and regulated under NDCC Chapter 43-23 by:

a.The North Dakota Association of Realtors
b.The North Dakota Real Estate Commission✓
c.The North Dakota Secretary of State
d.The county recorder

The North Dakota Real Estate Commission administers NDCC Chapter 43-23, licensing brokers and salespersons and disciplining violations. A trade association is a private membership organization and does not license practitioners.

North Dakota License Law (NDCC 43-23)

Under North Dakota license law, a real estate salesperson must:

a.Practice independently once licensed
b.Hold a broker license to list property
c.Be licensed under and supervised by a licensed broker✓
d.Register directly with the county where they work

A North Dakota salesperson holds an entry-level license and must be licensed under and supervised by a licensed broker. The salesperson may not operate independently; the broker is responsible for supervising the salesperson and maintaining trust accounts.

North Dakota License Law (NDCC 43-23)

A North Dakota salesperson may lawfully accept a commission for brokerage services from:

a.The employing broker✓
b.The buyer directly at closing
c.The seller directly upon listing
d.Any cooperating broker in the transaction

A North Dakota salesperson may accept compensation for brokerage services only from the employing broker, not directly from a buyer, seller, or another broker. The broker is responsible for supervision and for paying affiliated salespersons.