North Dakota Real Estate Practice Exam

In what scenario would a claim against the Real Estate fund typically be denied?

1. The claimant is a licensee

2. The claim is based on a verbal agreement

3. The claim is filed after the deadline

4. The claim is for general dissatisfaction

The correct answer is: The claim is filed after the deadline

A claim against the Real Estate Fund would typically be denied if it is filed after the deadline. This is because claims against such funds are subject to strict filing deadlines set by the governing regulations. Failing to adhere to these timelines generally results in the forfeiture of the right to seek reimbursement or compensation from the fund, regardless of the merits of the claim itself. Timeliness is crucial in the administration of claims, and deadlines ensure that the process remains orderly and that the fund can manage its resources adequately. Therefore, any claim submitted beyond the established time frame is likely to be dismissed, emphasizing the importance of prompt action in legal and financial matters related to real estate.