Agency
Which of the following illustrates the duty of 'accounting' owed by a North Dakota real estate agent to their client?
AProviding the client with a market analysis
BPromptly delivering all funds and accurately accounting for all monies received on behalf of the client✓ Correct
CExplaining the closing process to the client
DSubmitting offers quickly
Explanation
The duty of accounting requires an agent to promptly and faithfully account for all funds and property received in connection with the agency relationship, maintaining accurate records and promptly delivering all funds.
Related North Dakota Agency Questions
- A North Dakota seller's agent who represents the seller exclusively owes which duties to the buyer?
- Under North Dakota law, a seller's agent who learns the buyer has pre-approval for much more than the asking price should:
- Under North Dakota law, a broker who is a principal (owns the property being sold) must disclose their licensed status to:
- Which of the following is a non-waivable duty owed by all North Dakota licensees regardless of agency relationship?
- Which of the following is the BEST example of the duty of 'accounting' owed by an agent?
- When a North Dakota buyer makes an offer on a property listed by their own buyer's agent's brokerage, the brokerage has a potential:
- A buyer's agent learns that their buyer-client previously went bankrupt. This information:
- In North Dakota, the agency disclosure must be provided:
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 →