North Dakota Real Estate Practice Exam

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Prepare for the North Dakota Real Estate Exam with our interactive quiz. Utilize multiple choice questions and detailed explanations to enhance your comprehension. Equip yourself for success in your upcoming exam!

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!

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How many partners need to be actively engaged as real estate agents for a company to hold a real estate license?

None
One person
Two persons
Three persons

The correct answer is: One person

A real estate company must have at least one individual actively engaged as a real estate agent in order to qualify for a real estate license. This individual is often designated as the qualifying broker or managing broker, and their active involvement ensures that the company meets the regulatory requirements set forth by state laws. Having a single active agent is sufficient because this person is responsible for overseeing the real estate transactions and compliance with legal obligations. The presence of a licensed real estate agent ensures that the company's operations are conducted in accordance with the state's real estate laws and regulations, which is crucial for maintaining the integrity and professionalism of the industry. Other options imply a requirement for multiple agents to be actively engaged, which is not necessary under the current licensing laws. Therefore, the most minimal and correct answer is that only one person needs to be actively engaged as a real estate agent for the company to hold a valid real estate license.