NC Post-Licensing 303 Exam Questions with
Correct Answers Questions & Answers |
100% Verified solutions |Questions with
Correct Answers 2026 latest update!!
Rebecca is a trustee in a bankruptcy case, and is performing
real estate activities under a court order as part of her trustee
duties. She'll be compensated for her role in these activities.
Does Rebecca need a North Carolina real estate license? -
ANSWER✔✔-No. Rebecca qualifies for the exemption for
persons acting under a court order, and therefore doesn't
need a license
Listing agents in North Carolina who use the standard NCAR
agency agreement form should be sure to clearly disclose any
compensation-sharing limitations if their firm restricts with
whom they share brokerage fees. Why is this? - ANSWER✔✔-
The agency agreement language gives permission to share
compensation with any licensed buyer or seller agent
Ben and Jerri pay $200 to their HOA every quarter. This money
is likely used for all of the following EXCEPT for which one? -
ANSWER✔✔ Pay off fines for HOA rule violations.
A cooperative listing service, like the MLS, requires its
members to cooperate. It also requires them to ______. -
ANSWER✔✔ Offer compensation to the cooperating broker
Which of the following obligations must tenants fulfill as part
,of their statutory duties? - ANSWER✔✔Not removing the fridge
or dishwasher that comes with the unit
Which of the following statements is true about septic
systems? - ANSWER✔✔They differ in the way they are
installed.
North Carolina's waterway zoning standards apply mostly to
_______. - ANSWER✔✔Land within 30 to 50 feet of the water's
edge
Velma is a timeshare developer with flexible morals, and is
found guilty of four separate license law violations. The
commission reprimanded and fined her. What's the maximum
fine she can expect to receive from the commission for her
violations? - ANSWER✔✔$2,000
Jasmine is the landlord for several rental homes in Boiling
Spring Lakes. When she receives the security deposit from
one of her tenants, how long must it be held in a trust
account? - ANSWER✔✔At least until the end of tenancy
Laura's property is subject to a special assessment. Which of
the following is true? - ANSWER✔✔The special assessment
must benefit Laura's property.
One advantage to a modular home is that ______. -
ANSWER✔✔They're built off site
, Nathan assisted with the sale of a commercial building. He
doesn't hold a real estate license, yet his actions didn't violate
any license laws. What must be true about Nathan's situation?
- ANSWER✔✔Nathan is an officer or employee of the company
that owned the building he sold.
Mary's broker is completing a vacation rental agreement for
new clients who will be renting her beach villa in Kure Beach.
Should he include a statement in the vacation rental
agreement that details the penalties if the clients cancel? -
ANSWER✔✔Yes. It's not a required element of a North Carolina
vacation rental agreement, but it's a good idea.
Tabitha is a North Carolina broker who has just left her
previous brokerage to join Diamond Realty. How long does she
have to notify NCREC of this change in firm affiliation? -
ANSWER✔✔She has 10 days.
-Any change in firm affiliation or personal information requires
NCREC be notified in writing within 10 days of the change.
Alison works for Sellerman Law Services, and listed one of the
company's properties for sale as a part of her regular paid
work. Does Alison need a North Carolina real estate license? -
ANSWER✔✔No. Alison qualifies for the business entity
exemption, wherein business entities along with their officers
and employees may sell owned properties in the same way
that individual owners may sell their own properties.
Listing agent Jim receives calls from Chylynn and Drew, whose
respective clients are interested in seeing Jim's listing. He
Correct Answers Questions & Answers |
100% Verified solutions |Questions with
Correct Answers 2026 latest update!!
Rebecca is a trustee in a bankruptcy case, and is performing
real estate activities under a court order as part of her trustee
duties. She'll be compensated for her role in these activities.
Does Rebecca need a North Carolina real estate license? -
ANSWER✔✔-No. Rebecca qualifies for the exemption for
persons acting under a court order, and therefore doesn't
need a license
Listing agents in North Carolina who use the standard NCAR
agency agreement form should be sure to clearly disclose any
compensation-sharing limitations if their firm restricts with
whom they share brokerage fees. Why is this? - ANSWER✔✔-
The agency agreement language gives permission to share
compensation with any licensed buyer or seller agent
Ben and Jerri pay $200 to their HOA every quarter. This money
is likely used for all of the following EXCEPT for which one? -
ANSWER✔✔ Pay off fines for HOA rule violations.
A cooperative listing service, like the MLS, requires its
members to cooperate. It also requires them to ______. -
ANSWER✔✔ Offer compensation to the cooperating broker
Which of the following obligations must tenants fulfill as part
,of their statutory duties? - ANSWER✔✔Not removing the fridge
or dishwasher that comes with the unit
Which of the following statements is true about septic
systems? - ANSWER✔✔They differ in the way they are
installed.
North Carolina's waterway zoning standards apply mostly to
_______. - ANSWER✔✔Land within 30 to 50 feet of the water's
edge
Velma is a timeshare developer with flexible morals, and is
found guilty of four separate license law violations. The
commission reprimanded and fined her. What's the maximum
fine she can expect to receive from the commission for her
violations? - ANSWER✔✔$2,000
Jasmine is the landlord for several rental homes in Boiling
Spring Lakes. When she receives the security deposit from
one of her tenants, how long must it be held in a trust
account? - ANSWER✔✔At least until the end of tenancy
Laura's property is subject to a special assessment. Which of
the following is true? - ANSWER✔✔The special assessment
must benefit Laura's property.
One advantage to a modular home is that ______. -
ANSWER✔✔They're built off site
, Nathan assisted with the sale of a commercial building. He
doesn't hold a real estate license, yet his actions didn't violate
any license laws. What must be true about Nathan's situation?
- ANSWER✔✔Nathan is an officer or employee of the company
that owned the building he sold.
Mary's broker is completing a vacation rental agreement for
new clients who will be renting her beach villa in Kure Beach.
Should he include a statement in the vacation rental
agreement that details the penalties if the clients cancel? -
ANSWER✔✔Yes. It's not a required element of a North Carolina
vacation rental agreement, but it's a good idea.
Tabitha is a North Carolina broker who has just left her
previous brokerage to join Diamond Realty. How long does she
have to notify NCREC of this change in firm affiliation? -
ANSWER✔✔She has 10 days.
-Any change in firm affiliation or personal information requires
NCREC be notified in writing within 10 days of the change.
Alison works for Sellerman Law Services, and listed one of the
company's properties for sale as a part of her regular paid
work. Does Alison need a North Carolina real estate license? -
ANSWER✔✔No. Alison qualifies for the business entity
exemption, wherein business entities along with their officers
and employees may sell owned properties in the same way
that individual owners may sell their own properties.
Listing agent Jim receives calls from Chylynn and Drew, whose
respective clients are interested in seeing Jim's listing. He
