North Dakota Real Estate Practice Exam

Disable ads (and more) with a membership for a one time $2.99 payment

Get ready for the North Dakota Real Estate Exam. Prepare with flashcards, multiple choice questions, and expert-curated content to ensure your success. Improve your knowledge and tackle the exam with confidence!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

What is the minimum number of active real estate agents required for a partnership to qualify for a brokerage license?

One
Two
Three
Four

The correct answer is: One

For a partnership to qualify for a brokerage license, the minimum requirement is that there must be one active real estate agent involved in the partnership. This requirement ensures that the partnership has a knowledgeable individual who is legally authorized to conduct real estate transactions on behalf of the brokerage. Having just one active agent allows the partnership to meet the regulatory standards necessary to operate legally as a brokerage. While partnerships may choose to have more than one agent, the law only mandates a single active agent to initiate the licensing process. This reflects a design in real estate law aimed at ensuring that even smaller entities can engage in real estate activities without a disproportionate burden.