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Real Estate Salesperson Exam — National Portion

Agreements (ND): practice questions

Our Real Estate (National) bank has 6 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

Through no fault of the buyer, the seller refuses to close. What happens to the buyer's deposit?

  1. It is held in trust until the commission rules on the broker's claim to a commission on the deal
  2. It is split between the broker and the seller under the listing agreement
  3. It is returned to the buyer at once; the broker looks to the owner for compensation
  4. The broker keeps it as the earned commission and returns any excess to the buyer
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C. It is returned to the buyer at once; the broker looks to the owner for compensation — N.D. Admin. Code 70-02-03-12.

Question 2 · North Dakota

A listing agreement for 1-4 family residential property may NOT contain which provision?

  1. A requirement that the seller notify the broker of cancellation after the expiration date
  2. A statement of the listed price and the commission to be paid to the listing broker
  3. A definite expiration date and identification of the property being listed for sale
  4. A statement that it is an exclusive right to sell or exclusive agency listing
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A. A requirement that the seller notify the broker of cancellation after the expiration date — N.D. Admin. Code 70-02-03-04.

Question 3 · North Dakota

For 1-4 family residential property, when must a licensee obtain a signed buyer's broker agreement?

  1. Within ten days after the buyer's first showing
  2. Before the buyer's offer is presented to the seller
  3. Only when the buyer has agreed in writing to pay the commission directly
  4. Before performing any act as the buyer's representative
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D. Before performing any act as the buyer's representative — N.D. Admin. Code 70-02-03-05.1.

Question 4 · North Dakota

Until when must a licensee keep submitting offers to a seller?

  1. Until the earnest money on the first accepted offer has been deposited
  2. Until the seller has received at least one offer at the listed price
  3. Until the seller accepts an offer in writing and the broker knows of it
  4. Until the seller signs a counteroffer on any one of the pending offers
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C. Until the seller accepts an offer in writing and the broker knows of it — N.D.C.C. 43-23-11.1(1)(t).

Question 5 · North Dakota

An owner with an unexpired exclusive listing with Broker A calls Broker B to discuss switching. What may Broker B do?

  1. Nothing, because B may never deal with an owner who has listed with A
  2. Sign a new listing at once, since the owner was the one who made the first contact with B
  3. Sign a listing that takes effect only after A's listing expires or is released
  4. Sign a new listing only if B agrees to share any commission with A
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C. Sign a listing that takes effect only after A's listing expires or is released — N.D. Admin. Code 70-02-03-11.

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