NC Post Licensing 301 Practice Exam Questions and Correct
Answers Latest
Question 1
9/50 Negligent misrepresentation occurs when which of the following takes place?
a One party makes a claim and provides supporting evidence.
b One party makes a statement without reason or evidence to believe the statement is true.
c One party states something that is hearsay.
d One party states something that is known to be false
Correct Answer
b One party makes a statement without reason or evidence to
Negligent misrepresentation occurs when someone makes a statement without regard to the true facts.
Page 1 of 37
,Question 2
29/50 When performing a market analysis, what do you do with the adjusted sales prices of comparables to determine
market value of the subject property?
a Average them.
b Select the highest sales price if the market is hot, and the lowest if it’s cold.
c Weigh the comparable with the fewest adjustments to sales price most heavily.
d Weigh the comparable with the most adjustments to sales price most heavily.
Correct Answer
c Weigh the comparable with the fewest adjustments to sales price most heavily.
Question 3
22/50 Sellers _____ obtain a one-year home warranty, according to the listing contract.
a May
b May not
c Must
d Shouldn’t
Correct Answer
a May
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,Question 4
45/50 What is the formula NOI ÷ V = R used to calculate?
The capitalization rate
The rate of future growth
The recapture rate
The terminal value
Correct Answer
The capitalization rate
Question 5
3/50 As a North Carolina property manager, which of the following is Luisa required to do?
a Act as the landlord’s representative in all matters, including legal counsel.
b Advocate for the tenants’ interests above all others.
c Avoid performing any actions that would constitute a landlord’s duties.
d Perform the duties of a landlord, as laid out in statute and the lease.
Correct Answer
Perform the duties of a landlord, as laid out in statute and the lease.
Page 3 of 37
, Question 6
17/50 You're a builder who wants to follow the national standards for measuring the square footage of a home you’ve
built. Which of the following areas do you include?
A master suite
b An unfinished attic with six-foot ceilings
c Attached garage
d Detached pool house
Correct Answer
Question 7
36/50 Frank is representing Jonathan in the sale of his home. A buyer approaches Frank at Jonathan's open house, and
Frank agrees to represent her in purchasing Jonathan's house. What must Frank do to avoid an illegal dual agency
situation?
a Inform the buyer that he represents the seller.
b Obtain dual agency consent from all parties.
c Obtain dual agency consent from the buyer.
d Obtain dual agency consent from the seller.
Correct Answer
b Obtain dual agency consent from all parties.
Page 4 of 37
Answers Latest
Question 1
9/50 Negligent misrepresentation occurs when which of the following takes place?
a One party makes a claim and provides supporting evidence.
b One party makes a statement without reason or evidence to believe the statement is true.
c One party states something that is hearsay.
d One party states something that is known to be false
Correct Answer
b One party makes a statement without reason or evidence to
Negligent misrepresentation occurs when someone makes a statement without regard to the true facts.
Page 1 of 37
,Question 2
29/50 When performing a market analysis, what do you do with the adjusted sales prices of comparables to determine
market value of the subject property?
a Average them.
b Select the highest sales price if the market is hot, and the lowest if it’s cold.
c Weigh the comparable with the fewest adjustments to sales price most heavily.
d Weigh the comparable with the most adjustments to sales price most heavily.
Correct Answer
c Weigh the comparable with the fewest adjustments to sales price most heavily.
Question 3
22/50 Sellers _____ obtain a one-year home warranty, according to the listing contract.
a May
b May not
c Must
d Shouldn’t
Correct Answer
a May
Page 2 of 37
,Question 4
45/50 What is the formula NOI ÷ V = R used to calculate?
The capitalization rate
The rate of future growth
The recapture rate
The terminal value
Correct Answer
The capitalization rate
Question 5
3/50 As a North Carolina property manager, which of the following is Luisa required to do?
a Act as the landlord’s representative in all matters, including legal counsel.
b Advocate for the tenants’ interests above all others.
c Avoid performing any actions that would constitute a landlord’s duties.
d Perform the duties of a landlord, as laid out in statute and the lease.
Correct Answer
Perform the duties of a landlord, as laid out in statute and the lease.
Page 3 of 37
, Question 6
17/50 You're a builder who wants to follow the national standards for measuring the square footage of a home you’ve
built. Which of the following areas do you include?
A master suite
b An unfinished attic with six-foot ceilings
c Attached garage
d Detached pool house
Correct Answer
Question 7
36/50 Frank is representing Jonathan in the sale of his home. A buyer approaches Frank at Jonathan's open house, and
Frank agrees to represent her in purchasing Jonathan's house. What must Frank do to avoid an illegal dual agency
situation?
a Inform the buyer that he represents the seller.
b Obtain dual agency consent from all parties.
c Obtain dual agency consent from the buyer.
d Obtain dual agency consent from the seller.
Correct Answer
b Obtain dual agency consent from all parties.
Page 4 of 37
