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Real Estate Salesperson Exam — National Portion

Agency (ND): practice questions

Our Real Estate (National) bank has 12 questions on this topic. Here are 5 of them with answers; the full mock exam draws from every topic, like the real one.

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Question 1 · North Dakota

If a firm's designated broker appoints separate agents for a buyer client and a seller client in the same deal, the firm is:

  1. Required to refer one of the two clients to a different brokerage firm
  2. Not a dual agent, and knowledge is not imputed between the appointed agents
  3. A dual agent automatically, needing both parties' written consent to continue
  4. A subagent of the listing firm and owes its duties to the seller exclusively
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B. Not a dual agent, and knowledge is not imputed between the appointed agents — N.D.C.C. 43-23-12.3(2).

Question 2 · North Dakota

When is one licensee's knowledge about a property imputed to another licensee in the same firm?

  1. Not unless the licensee is directly involved in a transaction on that property
  2. Only after the designated broker files a written knowledge-sharing policy
  3. Whenever both licensees work out of the same branch office of the firm
  4. Always, because every licensee acts on behalf of the same designated broker
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A. Not unless the licensee is directly involved in a transaction on that property — N.D.C.C. 43-23-12.1(4).

Question 3 · North Dakota

When must the agency disclosure be made to a potential buyer whom the licensee does not represent?

  1. Only if the buyer asks in writing whom the licensee is representing
  2. Before the buyer tours any property listed by the licensee's firm
  3. Before discussing personal financial information or starting negotiations
  4. When the purchase agreement is presented to the buyer for signature
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C. Before discussing personal financial information or starting negotiations — N.D. Admin. Code 70-02-03-15.1(2)(c).

Question 4 · North Dakota

A client is liable for a misrepresentation made by the client's own licensee only if the client:

  1. Paid the commission at closing, which ratifies all statements made by the licensee
  2. Failed to buy errors and omissions coverage that would have insured the licensee
  3. Knew or should have known of it, or the licensee was repeating the client's misstatement
  4. Signed the listing or buyer's agreement, which makes the client vicariously liable for it
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C. Knew or should have known of it, or the licensee was repeating the client's misstatement — N.D.C.C. 43-23-12.2(2).

Question 5 · North Dakota

Unless otherwise agreed in writing, is a North Dakota brokerage firm obligated to discover defects in the property?

  1. No, unless the client paid a commission of at least the customary rate
  2. No, nor to verify ownership or independently check others' statements
  3. Yes, but only for residential property with one to four dwelling units
  4. Yes, it must inspect the property before any listing is advertised
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B. No, nor to verify ownership or independently check others' statements — N.D.C.C. 43-23-12.1(3).

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