General Exam Study Guide – Complete
Questions with Correct Detailed Answers
⭐ Brand New & Updated Version |
Comprehensive Review | Exam Success
Resource
Preparing for exams can be challenging, especially when there is a large amount of information
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✔ Complete exam questions covering essential and commonly tested topics
✔ Correct answers with detailed explanations to support deeper understanding
✔ Clear and organized structure for easier studying and faster revision
✔ Coverage of key concepts that frequently appear in exams
✔ A brand new and updated version designed to support current exam preparation
✔ A practical study format suitable for independent learning and review
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📚 A powerful and comprehensive study resource designed to help students review smarter,
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, When is an active NC Real Estate license required? -ANSWER✅✅✅When any person
or entity is performing brokerage
activity for consideration as an agent for others.
What brokerage activities require a person or firm to have a NC Real Estate License? -
ANSWER✅✅✅listing, leasing, buying,
exchanging, auctioning, negotiating, referring, selling (LLBEANRS). Also, selling time
shares and advertising
real property in any manner.
What activities DO NOT require a NC Real Estate License? -ANSWER✅✅✅1.
Business entities selling or leasing entity-owned
real property (and their officers, partners, managers and W-2 employees); 2. Attorney in
fact for
consummation of contract performance (power of attorney); 3. Attorney at law
performing practice of law;
4. Court appointed individuals; 5. Trustee (and their employees); 6. W-2 employees of
Broker Property
Manager; 7. Individual property owners selling or leasing personally owned property; 8.
Housing authority
selling or leasing property owned by the housing authority (and their employees).
Is there any exemption to the licensing requirement for engaging in a limited number of
transactions or
minimum amount of compensation received? -ANSWER✅✅✅No
What are examples of permitted activities for an unlicensed assistant (or inactive
licensee)? *Name at least 3* -ANSWER✅✅✅Clerical and
administrative functions such as scheduling appointments, computing commission
checks for licensees,
receiving and forwarding phone calls, assisting with assembling documents for closing,
showing properties
for lease, fill in the blanks on standard forms under the direction of and with information
provided by a
licensed broker, etc.
What are examples of activities that an unlicensed assistant (or inactive licensee)
CANNOT perform? -ANSWER✅✅✅conducting an open house, writing or creating
promotional material, showing properties for sale, receiving
compensation for referring a consumer to a real estate licensee, soliciting listings
What requirement does a Provisional Broker have to meet to activate their license to be
able to lawfully
engage in brokerage activities? -ANSWER✅✅✅Be actively supervised by a
designated broker-in-charge