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!

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What is the maximum amount an aggravated person can claim from the Real Estate fund?

$10,000
$15,000
$20,000
$25,000

The correct answer is: $15,000

The correct amount an individual can claim from the Real Estate fund in North Dakota is indeed $15,000. This figure represents the cap established by state regulations designed to protect consumers and provide a source of compensation for damages caused by wrongful acts of real estate professionals. The fund aims to promote ethical practices and instill trust in the real estate profession by offering an avenue for relief in situations where a client has suffered a loss. This amount is specified to balance the financial responsibilities of the fund while ensuring that consumers have access to significant compensation when facing legitimate grievances involving deceitful practices or misrepresentation in real estate transactions. It's essential to keep in mind that additional limits may apply or eligibility criteria must be satisfied to make a successful claim.