North Dakota License Law
Under North Dakota license law, a licensee who earns a commission from a transaction where the sale price was obtained through fraud may:
AKeep the commission since it was earned
BBe required to disgorge the commission and face license discipline✓ Correct
CKeep the commission but must pay a fine
DDonate the commission to the NDREC education fund
Explanation
A commission earned through fraud is subject to disgorgement (return of the money). The licensee may also face license suspension or revocation, civil liability, and potentially criminal charges.
People Also Study
Related North Dakota Questions
- A North Dakota licensee who violates NDCC Chapter 43-23 may be subject to a civil penalty not to exceed:North Dakota License Law
- A North Dakota home sale falls through because the appraisal comes in $15,000 below the purchase price. Under a standard appraisal contingency, the buyer may:Contracts
- A North Dakota broker earns a commission of $13,500 on a sale. If this represents 4.5% of the sale price, what was the sale price?Real Estate Math
- A North Dakota seller nets $220,000 after paying a 6% commission and a $4,000 closing cost. What was the approximate sale price?Real Estate Math
- A North Dakota seller wishes to net $300,000 after paying a 6% real estate commission. What must the sale price be?Real Estate Math
- A North Dakota seller nets $312,000 after paying a 5% commission and $4,500 in other closing costs. What was the sale price?Real Estate Math
- Under North Dakota law, a licensee who changes their employing broker must notify the Commission within:North Dakota License Law
- A North Dakota broker may place a licensee's license on inactive status when:North Dakota License Law
Key Terms to Know
Math Concepts
State-Specific Concepts
DRE RegulationLicense Law
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 →