ND Duties and Powers of the Real Estate Commission Flashcards

ND Duties and Powers of the Real Estate Commission Flashcards Which one of the following options describes a duty for which the North Dakota Real Estate Commission is NOT responsible?Conducting all-pre-licensing education for North Dakota salesperson license applicants.A North Dakota broker received a written request from the commission asking for records pertaining to a specific transaction. Which one of the following statements is true about how the broker should respond to this request?The broker must provide the requested records to the commission or risk being found guilty of a license law violation.At minimum, for how long must a North Dakota broker keep records of all real estate transactions that the broker engaged in?

• years

What action, if any, can the commission take once a licensee has been found guilty of violating license laws?The commission can revoke or suspend the offender's real estate license, or otherwise reprimand or discipline the licensee.How long do NDREC members' terms last?5 years Which of the following is NOT a way that the NDREC provides additional education to real estate licensees?Providing free continuing education hours to licensees with exceptional transaction records.Which one of the following is a true statement about the North Dakota Real Estate Commission?Commissioners are limited to serving two consecutive terms.Once a complaint has been filed with the North Dakota Real Estate Commission, who investigates the complaint?An attorney-investigator What is the maximum fine that the commission may impose on a North Dakota licensee who is found guilty of a license law violation?

$2,500

Who is responsible for taking care of the day-to-day operations of the NDREC?The executive director The commission suspended North Dakota licensee Rory's real estate license after an investigation and hearing. What does this mean for Rory?He's not allowed to practice real estate during the term of the suspension, which is temporary.How many members serve on the North Dakota Real Estate Commission at any given time?5 Nyx just received notification that a former client filed a complaint against her with the North Dakota Real Estate Commission. What does Nyx need to do now, and how long does she have to do it?She has 20 days to formally respond to the complaint.What's the first thing the NDREC will do after receiving a complaint abou a real estate licensee?Notify the accused licensee.