North Dakota Real Estate Exam Prep

ND Salesperson Practice Exam

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North Dakota Sample Practice Real Estate Exam Questions and Answers

North Dakota State Section

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Question 1

The Salesperson license fee costs how much?

A	$75
B	$200
C	$149
D	$100
E	$19

Question 2

What tenancies does North Dakota allow?

A	Tenancy by the entirety
B	Joint tenancy
C	Both
D	Neither

Question 3

Which of the following would not put a sales person in jeopardy of losing their license in North Dakota?

A	Being authorized to accept and excessive commission.
B	Depositing his/her clients escrow money into a personal account
C	Convicted of a felony
D	Placing an ad claiming to be a broker when they are not.

Question 4

Does North Dakota have dower laws?

A	Yes
B	No

Question 5

Which of the following is a landlord's option for a tenant not paying rent?

A	lock the tenant out of the apartment
B	unlawful detainer action in court
C	shut off the power
D	shut off the gas

Question 6

After getting the real estate license, how often must you take Continuing Education classes?

A	never
B	ever year
C	every two years
D	every three years

Question 7

What term means "going to the state?"

A	police power
B	Taxation
C	Eminent Domain
D	escheat

Question 7 Explanation:

Escheat is if someone dies and there is no one to inherit or no will the property goes to the state.

Question 8

What is homestead protection?

A	The status provided to a home owner's principal residence that protects the home against judgement up to a specified amount.
B	Gradual subsidence of waters, leaving dry land
C	Net cash remaining to investor after sale of investment property
D	The estimated value that an asset will have at then end of it's useful life

Question 9

Who is responsible for maintaining a habitable property and for complying with local housing and building codes?

A	Buyer
B	Lessor
C	Agent
D	Lessee

Question 10

Which is not necessary for a valid contract?

A	acceptance
B	offer
C	legal object
D	due date

Question 11

What is a holographic will?

A	a standard boiler plate will.
B	a will and testament that has been entirely handwritten and signed by the testator.
C	a will that has been approved by each family member.
D	a will that displays in 3D

Question 12

Does North Dakota have homestead laws?

A	Yes
B	No

Question 13

Mortgage "discount" points only apply if which of the following conditions are met?

A	The interest rate on the mortgage loan has been lowered by 2% for each point charged
B	The seller has agreed to pay 1% of the closing costs
C	The loan does not close and the buyer owes the lender for services rendered
D	The interest rate on the mortgage loan has been lowered by 1% for each point charged

Question 14

Standing trees would be considered:

A	Emblements
B	Personal Property
C	Real property
D	Chattels

Question 15

In what circumstances, if any, can a broker in North Dakota who is serving as an intermediary representing both parties collect compensation from both the buyer and the seller?

A	Only when both buyer and seller give informed consent to this arrangement
B	None; the broker may only collect compensation from one party to a transaction
C	In most circumstances, except when the buyer and seller are related
D	Only when both buyer and seller have legal representation

Question 16

Which of the following isn't part of a deed?

A	novation
B	Premises
C	acknowledgement
D	Habendum

Question 17

Is North Dakota a community property state?

A	No
B	Yes

Question 18

Does North Dakota allow Holographic wills?

A	Yes
B	No

Question 19

Which of the following is required for an applicant to receive a Real Estate License?

A	Must be 25 or older
B	Must have lived in the state for more than a year
C	Must have a Bachelors degree
D	Must sit and pass the required exam

Question 20

How soon can a broker receive a commission check after a closing in North Dakota?

A	After the transaction is completed and funded.
B	When the buyer moves in.
C	Once the offer sheet is signed.
D	Once the seller agrees to the price.

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North Dakota Real Estate Exam Prep

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