North Dakota License Law
A North Dakota licensee who participates in a transaction involving property they personally own must:
AObtain NDREC approval before proceeding
BDisclose their ownership interest to all parties in the transaction✓ Correct
CUse a different broker to handle the transaction
DRefrain from earning any commission
Explanation
When a licensee is a party to (or has a financial interest in) a transaction, they must disclose this interest to all parties. Failure to disclose creates a conflict of interest and violates NDREC rules.
Related North Dakota North Dakota License Law Questions
- If a North Dakota real estate licensee's license expires and they continue to perform real estate activities, they are:
- In North Dakota, which type of license is required for a company that wants to operate a real estate brokerage under a trade name?
- Under North Dakota license law, which of the following is required of all new real estate licensees?
- A North Dakota licensee who is also a licensed insurance agent selling homeowner's insurance to their real estate clients must:
- Which document must a North Dakota real estate licensee provide when taking a listing that discloses which party they represent?
- Under NDCC Chapter 43-23, which of the following would require a real estate license in North Dakota?
- The North Dakota Real Estate Commission's primary purpose is to:
- How many questions are on the North Dakota real estate salesperson licensing exam?
Practice More North Dakota Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free North Dakota Quiz →