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 required balance to be maintained in the education fund for recovery purposes by the commission?

$50,000
$60,000
$70,000
$80,000

The correct answer is: $60,000

The required balance to be maintained in the education fund for recovery purposes by the commission is $60,000. This amount is critical as it serves as a financial cushion to ensure that the commission can adequately address recovery claims from consumers who have suffered losses due to the actions of real estate licensees. Maintaining this balance supports the stability of the fund and reinforces the commission's commitment to protecting the interests of the public within the real estate market. Having a clearly defined required balance helps in managing the fund effectively and ensures that there are sufficient resources available for claims that may arise, thereby instilling trust in the real estate regulatory system.