ND Real Estate study guide
ND Real Estate · Work through your exam, one topic at a time.
The North Dakota Real Estate Salesperson Examination is the licensing test that the state uses to confirm a candidate is ready to work under a licensed broker. It is meant for people entering the field for the first time - career changers, recent graduates, and part-time agents - who have completed the state's pre-licensing education requirement and now need to demonstrate competence before applying for a license. The ND Real Estate study guide has 7 sections and about 2,549 words.
01Real Property Ownership, Interests, and Land Use
Real property is land plus fixtures plus the bundle of rights (surface, subsurface, airspace). Classify an item as a fixture or personal property with MARIA - method of annexation, adaptation to the property, relationship of the parties, intent, and agreement.
393 words, about 2 min02Agency Relationships and Contract Law
Agency is created by express agreement, implication, ratification, or estoppel. In North Dakota, licensees disclose agency status in writing at the first substantive contact and document the relationship - a written listing agreement or buyer-broker agreement.
362 words, about 2 min03Property Valuation and Real Estate Finance
Market value assumes a willing, informed buyer and seller, no undue pressure, and reasonable exposure time. Highest and best use is the legally permissible, physically possible, financially feasible use producing the highest value.
335 words, about 2 min04Property Transfer, Title, and Disclosures
General warranty (warrants against all claims, including the past), special warranty (only claims arising during the grantor's ownership), bargain and sale (implies consideration, no warranties), and quitclaim (releases whatever interest the grantor has, with no warranty). A valid deed needs a grantor, grantee, words of conveyance, legal description, the grantor's signature, and delivery accepted by the grantee.
369 words, about 2 min05North Dakota License Law and Real Estate Commission Rules
The North Dakota Real Estate Commission licenses and disciplines brokers, associate brokers, and salespersons, and adopts administrative rules that fill in the Century Code. Licensing requires meeting the Commission's age, education, examination, and background requirements, and every active salesperson or associate broker must be affiliated with a licensed North Dakota broker; no one practices independently without a broker license.
393 words, about 2 min06North Dakota Real Estate Practice: Listings, Sales, Trust Funds, Advertising
An open listing lets the owner use several brokers and pays only the procuring broker. An exclusive agency gives one broker the listing but lets the owner sell without paying.
369 words, about 2 min07Fair Housing and Consumer Protection
The federal Fair Housing Act bars discrimination in sale, rental, advertising, and brokerage services based on race, color, religion, sex (HUD guidance includes sexual orientation and gender identity), national origin, familial status, and disability. North Dakota's Human Rights Act and local ordinances can add protected classes, such as marital status or public assistance status, so check state and local law.
328 words, about 2 min