NORTH CAROLINA REAL ESTATE EXAM PRACTICE
LAWS, DISCLOSURE, AND AGENCY 150 QUESTIONS
& CORRECT ANSWERS LATEST 2025
What should a North Carolina listing broker do when marketing a property? -
ANSWER-Identify any fixtures the sellers intend to take with them.
What does the Mineral and Oil and Gas Mandatory Disclosure Statement require? -
ANSWER-Requires a seller to check 'Yes' or 'No' for every question.
When must a North Carolina broker notify the Real Estate Commission in writing?
- ANSWER-Of an address change within 10 days of the change.
According to the North Carolina Real Estate Commission's Residential Square
Footage Guidelines, what qualifies as 'living area'? - ANSWER-A heated, finished
bonus room over the garage that is accessed from the main house through a heated
hallway.
What happens if a buyer cannot secure financing as described in the contract? -
ANSWER-If discovered during the due diligence period, the buyer may terminate
the contract and receive a refund of the earnest money deposit.
What is Broker Lucy potentially guilty of by stating her listed house has the best
view in the county? - ANSWER-Puffing.
What are North Carolina brokers required to do regarding settlement statements? -
ANSWER-Notify all parties of any errors in the settlement statement.
,What information can a dual agent disclose without permission from the other
client? - ANSWER-The fact that the property in question is being re-zoned.
What must a preprinted offer or sales contract form include? - ANSWER-
Information specified by rule, such as an adequate legal description of the property
and the manner of payment for the purchase price.
If a buyer wishes to terminate a residential sales contract after the due diligence
period has ended, what happens to the earnest money and due diligence fee? -
ANSWER-Neither the earnest money nor the due diligence fee should be refunded.
Which statement about a provisional broker (PB) is TRUE? - ANSWER-The
responsibility for the supervision of a PB may be delegated to an experienced full
broker affiliated with the same firm.
What duty does a buyer agent have when a buyer questions the size of a house? -
ANSWER-The buyer agent had a duty to investigate the square footage once the
buyer questioned the size of the house.
What can a listing agent rely on for square footage measurements of a residential
property? - ANSWER-Measurements from an appraiser hired by the listing agent.
When must continuing education be completed for a broker to maintain an active
real estate license? - ANSWER-Must be completed by June 10 each year.
What is the North Carolina Real Estate Commission's Working with Real Estate
Agents disclosure? - ANSWER-A document used to list the types of agency
offered by a broker or brokerage company.
, What should a listing firm do if the buyer and seller cannot agree on the earnest
money deposit? - ANSWER-Hold the EMD until parties agree to disposition of the
funds in writing.
What does the North Carolina Vacation Rental Act permit regarding rent
disbursement? - ANSWER-It permits a broker working on behalf of an owner of a
vacation rental to disburse the rent to the owner prior to the tenant taking
occupancy.
In the standard 2-T Offer to Purchase and Contract form, which date is described
as 'time being of the essence'? - ANSWER-The ending date for the due diligence
period.
What is an example of unintentional, undisclosed dual agency? - ANSWER-Broker
Brenda states that the seller has already purchased a new home and is anxious to
sell this one quickly.
According to the North Carolina Tenant Security Deposit Act, what is the
maximum allowable security deposit for a tenant with a pet? - ANSWER-$2,000
plus the $300 pet deposit.
Which activity requires an active real estate license in North Carolina? -
ANSWER-Selling investment property held in an estate by the court-appointed
administrator.
What should a listing agent do if sellers wish to include conditions in their
counteroffer? - ANSWER-Strongly advise the sellers to have an attorney draft the
appropriate language as an addendum to the counteroffer.
LAWS, DISCLOSURE, AND AGENCY 150 QUESTIONS
& CORRECT ANSWERS LATEST 2025
What should a North Carolina listing broker do when marketing a property? -
ANSWER-Identify any fixtures the sellers intend to take with them.
What does the Mineral and Oil and Gas Mandatory Disclosure Statement require? -
ANSWER-Requires a seller to check 'Yes' or 'No' for every question.
When must a North Carolina broker notify the Real Estate Commission in writing?
- ANSWER-Of an address change within 10 days of the change.
According to the North Carolina Real Estate Commission's Residential Square
Footage Guidelines, what qualifies as 'living area'? - ANSWER-A heated, finished
bonus room over the garage that is accessed from the main house through a heated
hallway.
What happens if a buyer cannot secure financing as described in the contract? -
ANSWER-If discovered during the due diligence period, the buyer may terminate
the contract and receive a refund of the earnest money deposit.
What is Broker Lucy potentially guilty of by stating her listed house has the best
view in the county? - ANSWER-Puffing.
What are North Carolina brokers required to do regarding settlement statements? -
ANSWER-Notify all parties of any errors in the settlement statement.
,What information can a dual agent disclose without permission from the other
client? - ANSWER-The fact that the property in question is being re-zoned.
What must a preprinted offer or sales contract form include? - ANSWER-
Information specified by rule, such as an adequate legal description of the property
and the manner of payment for the purchase price.
If a buyer wishes to terminate a residential sales contract after the due diligence
period has ended, what happens to the earnest money and due diligence fee? -
ANSWER-Neither the earnest money nor the due diligence fee should be refunded.
Which statement about a provisional broker (PB) is TRUE? - ANSWER-The
responsibility for the supervision of a PB may be delegated to an experienced full
broker affiliated with the same firm.
What duty does a buyer agent have when a buyer questions the size of a house? -
ANSWER-The buyer agent had a duty to investigate the square footage once the
buyer questioned the size of the house.
What can a listing agent rely on for square footage measurements of a residential
property? - ANSWER-Measurements from an appraiser hired by the listing agent.
When must continuing education be completed for a broker to maintain an active
real estate license? - ANSWER-Must be completed by June 10 each year.
What is the North Carolina Real Estate Commission's Working with Real Estate
Agents disclosure? - ANSWER-A document used to list the types of agency
offered by a broker or brokerage company.
, What should a listing firm do if the buyer and seller cannot agree on the earnest
money deposit? - ANSWER-Hold the EMD until parties agree to disposition of the
funds in writing.
What does the North Carolina Vacation Rental Act permit regarding rent
disbursement? - ANSWER-It permits a broker working on behalf of an owner of a
vacation rental to disburse the rent to the owner prior to the tenant taking
occupancy.
In the standard 2-T Offer to Purchase and Contract form, which date is described
as 'time being of the essence'? - ANSWER-The ending date for the due diligence
period.
What is an example of unintentional, undisclosed dual agency? - ANSWER-Broker
Brenda states that the seller has already purchased a new home and is anxious to
sell this one quickly.
According to the North Carolina Tenant Security Deposit Act, what is the
maximum allowable security deposit for a tenant with a pet? - ANSWER-$2,000
plus the $300 pet deposit.
Which activity requires an active real estate license in North Carolina? -
ANSWER-Selling investment property held in an estate by the court-appointed
administrator.
What should a listing agent do if sellers wish to include conditions in their
counteroffer? - ANSWER-Strongly advise the sellers to have an attorney draft the
appropriate language as an addendum to the counteroffer.
