North Dakota Real Estate
Exam Questions and Answers 100%
PASS
The Real Estate Commission consists of how many members? - CORRECT
ANSWER-5
How many of the commissions members must be active brokers - CORRECT
ANSWER-3
The governor appoints a commissions member for a term of how many years? -
CORRECT ANSWER-5
Terms must be staggered so the term of one member expires each year (T/F) -
CORRECT ANSWER-True
The commission may submit a report to the governor and secretary of state how
often? - CORRECT ANSWER-Biennial
The commission shall maintain all files, records, and property of the commission at
the office of the: - CORRECT ANSWER-Executive Director
,Members of the commission receive how much compensation per day actively
engaged in the service? - CORRECT ANSWER-Fifty Dollars
All moneys or fees collected or received from the commission must be deposited
and disbursed in accordance with which section? - CORRECT ANSWER-54-44-
12
No company, LLC, association, etc. may hold a real estate license unless at least
how many partners hold are actively engaged as a real estate agent / or hold a
brokerage license? - CORRECT ANSWER-One person
means a licensee appointed by a designated broker of the
licensee's real estate brokerage firm to act solely for a client of that brokerage firm
to the exclusion of other licensees of that brokerage firm - CORRECT ANSWER-
Appointed agent
means a person that has entered a written agency agreement with a real estate
brokerage firm. - CORRECT ANSWER-Client
means a buyer, prospective buyer, seller, lessee, or lessor that is not represented by
that real estate brokerage firm in a real property transaction. - CORRECT
ANSWER-Customer
means a licensee designated by a real estate brokerage firm to act on behalf of the
brokerage firm. - CORRECT ANSWER-Designated Broker
© 2026 Copyright. All Rights Reserved. This document is
protected by copyright law
, means a situation in which a real estate brokerage firm or the real estate brokerage
firm's licensees owe a duty to more than one party in a real estate transaction. -
CORRECT ANSWER-Dual Agency
"Dual agency" does not exist unless both the seller and the buyer in a real estate
transaction have written agency agreements with the same real estate brokerage
firm. (T/F) - CORRECT ANSWER-True
For purposes of "dual agency" a subagency arrangement is a written agency
agreement. (T/F) - CORRECT ANSWER-False
means a real estate broker, an associate real estate broker, or a real estate
salesperson who is associated with a real estate brokerage firm. - CORRECT
ANSWER-Licensee
means any interest or estate in land, including leaseholds, whether such interest or
estate is corporeal, incorporeal, freehold, or non-freehold, and whether situated in
this state or elsewhere. - CORRECT ANSWER-"Real estate", "real property",
"realty", or words of like import,
North Dakota, being a heavy oil state, includes subsurface, mineral, and oil rights
in it's basic definition of real estate or real property. (T/F) - CORRECT
ANSWER-False
means any person that, for another, for a fee,
Exam Questions and Answers 100%
PASS
The Real Estate Commission consists of how many members? - CORRECT
ANSWER-5
How many of the commissions members must be active brokers - CORRECT
ANSWER-3
The governor appoints a commissions member for a term of how many years? -
CORRECT ANSWER-5
Terms must be staggered so the term of one member expires each year (T/F) -
CORRECT ANSWER-True
The commission may submit a report to the governor and secretary of state how
often? - CORRECT ANSWER-Biennial
The commission shall maintain all files, records, and property of the commission at
the office of the: - CORRECT ANSWER-Executive Director
,Members of the commission receive how much compensation per day actively
engaged in the service? - CORRECT ANSWER-Fifty Dollars
All moneys or fees collected or received from the commission must be deposited
and disbursed in accordance with which section? - CORRECT ANSWER-54-44-
12
No company, LLC, association, etc. may hold a real estate license unless at least
how many partners hold are actively engaged as a real estate agent / or hold a
brokerage license? - CORRECT ANSWER-One person
means a licensee appointed by a designated broker of the
licensee's real estate brokerage firm to act solely for a client of that brokerage firm
to the exclusion of other licensees of that brokerage firm - CORRECT ANSWER-
Appointed agent
means a person that has entered a written agency agreement with a real estate
brokerage firm. - CORRECT ANSWER-Client
means a buyer, prospective buyer, seller, lessee, or lessor that is not represented by
that real estate brokerage firm in a real property transaction. - CORRECT
ANSWER-Customer
means a licensee designated by a real estate brokerage firm to act on behalf of the
brokerage firm. - CORRECT ANSWER-Designated Broker
© 2026 Copyright. All Rights Reserved. This document is
protected by copyright law
, means a situation in which a real estate brokerage firm or the real estate brokerage
firm's licensees owe a duty to more than one party in a real estate transaction. -
CORRECT ANSWER-Dual Agency
"Dual agency" does not exist unless both the seller and the buyer in a real estate
transaction have written agency agreements with the same real estate brokerage
firm. (T/F) - CORRECT ANSWER-True
For purposes of "dual agency" a subagency arrangement is a written agency
agreement. (T/F) - CORRECT ANSWER-False
means a real estate broker, an associate real estate broker, or a real estate
salesperson who is associated with a real estate brokerage firm. - CORRECT
ANSWER-Licensee
means any interest or estate in land, including leaseholds, whether such interest or
estate is corporeal, incorporeal, freehold, or non-freehold, and whether situated in
this state or elsewhere. - CORRECT ANSWER-"Real estate", "real property",
"realty", or words of like import,
North Dakota, being a heavy oil state, includes subsurface, mineral, and oil rights
in it's basic definition of real estate or real property. (T/F) - CORRECT
ANSWER-False
means any person that, for another, for a fee,
