US Real Estate North Dakota Advanced Test 3

Real Estate » Category

Author: TestGru Team (Education Specialist)

20 questions · All questions on one page

Prepared with up-to-date content

Real Estate — North Dakota Professional (Real Estate, USA) USA — North Dakota State Real Estate License — USA

What is this test? for Real Estate Salesperson/Broker prep, USA (national + state law) — Professional (Real Estate, USA) level, USA — North Dakota.
For adults preparing for Real Estate license in the USA
Section: Real Estate — North Dakota · Education: Professional (Adult) · Part: Real Estate — North Dakota · Country: USA · Region: USA — North Dakota

Finance and real estate acumen covers markets, valuation, contracts, and budget management.

This test is designed to reinforce core concepts and help you succeed on your exams.

By solving this test of 20 questions, you can both test your knowledge and identify the topics you need to improve.

Question 1

What is the Fair Housing Act?

A) building code

B) tax law

C) zoning code

D) bans housing discrimination

Question 2

What is agency in real estate?

A) broker acting for a client

B) tenancy

C) ownership

D) zoning

Question 3

What classes are protected in housing?

A) race, color, religion, sex, handicap, family, national origin

B) income

C) age only

D) politics

Question 4

What is a listing agreement?

A) deed

B) lease

C) contract to sell a property

D) purchase offer

Question 5

What is earnest money?

A) tax

B) commission

C) buyer good-faith deposit

D) fee

Question 6

What is a fiduciary duty?

A) profit first

B) loyalty, obedience, care to client

C) dual profit

D) secrecy from client

Question 7

What is dual agency?

A) one broker representing both sides

B) buyer only

C) two brokers

D) no representation

Question 8

What is redlining?

A) mapping

B) illegal denial by neighborhood

C) appraising

D) surveying

Question 9

What is steering?

A) guiding buyers by race (illegal)

B) showing homes

C) negotiating

D) advertising

Question 10

What is a CMA?

A) survey

B) appraisal

C) comparative market analysis

D) inspection

Question 11

What is an appraisal?

A) professional value opinion

B) offer

C) inspection

D) listing

Question 12

What are the three appraisal approaches?

A) show, stage, sell

B) sales comparison, cost, income

C) list, sell, close

D) offer, accept, record

Question 13

What is PITI?

A) principal, interest, taxes, insurance

B) a tax

C) a deed

D) a loan type

Question 14

What is LTV?

A) listing traffic volume

B) land title verification

C) lease term value

D) loan-to-value ratio

Question 15

What is PMI?

A) flood insurance

B) title insurance

C) insurance for low down payments

D) property tax

Question 16

What is escrow?

A) tax

B) commission

C) down payment

D) neutral third-party holding

Question 17

What is a deed?

A) loan paper

B) offer

C) ownership transfer document

D) lease

Question 18

What is a warranty deed?

A) quitclaim

B) guarantees clear title

C) option

D) lease

Question 19

What is a quitclaim deed?

A) loan

B) transfers whatever interest exists

C) lease

D) full warranty

Question 20

What is title insurance?

A) life insurance

B) protects against title defects

C) home warranty

D) flood policy

US Real Estate North Dakota Advanced Test 3

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