North Dakota Real Estate Practice Exam

Which type of professionals are generally excluded from making claims against the Real Estate fund?

1. Real estate brokers

2. Salespersons

3. Licensees with pending disciplinary actions

4. Consumers

The correct answer is: Licensees with pending disciplinary actions

Professionals who are involved in real estate transactions, such as real estate brokers and salespersons, are generally included in the context of making claims against the Real Estate fund. However, licensees with pending disciplinary actions are typically excluded from making claims because their legal standing is compromised while such actions are under review. These pending actions could involve issues of misconduct or professional negligence, which would make it inappropriate for them to seek compensation or protection from the fund until their status is resolved. Thus, it is crucial for licensees to maintain compliance and have clear records to be eligible for making claims against the fund.