303 Post Licensing Exam UPDATED
QUESTIONS AND CORRECT ANSWERS
Is it permissible for an apartment complex to post a notice outside the complex that says,
"Free two months' rent with a one-year lease? - CORRECT ANSWER Yes, it is
offering a thing of value to a party to the transaction
If a provisional broker earned a commission with a firm but now works for another company,
how would the commission be paid? - CORRECT ANSWER The firm may pay the
provisional broker directly or pay the new broker-in-charge, who can then pay the provisional
broker
The NCREC will hear complaints concerning improper compensation of both brokers and
unlicensed persons but will not hear cases involving disputes under - CORRECT
ANSWER a brokerage cooperation agreement
In NC, if you choose to provide services for someone without licensing, you may be guilty of
- CORRECT ANSWER a Class 1 misdemeanour
A broker may set up a company for the sole purpose of getting paid through the company
instead of a 1099 independent contractor. The entity created for payments must apply and
obtain a firm broker license before.. - CORRECT ANSWER any compensation is paid
to the entity
Not only may an unlicensed person not practice real estate in NC, but this person also may
not be - CORRECT ANSWER compensated for engaging in any real estate brokerage
activities
Because a broker in charge is forbidden from paying an unlicensed entity a commission, the
BIC would want to make sure the entity is licensed and that the broker who uses the company
has renewed his - CORRECT ANSWER for-compensation-only firm license
Is paying a referral fee acceptable for a NC licensed broker? - CORRECT
ANSWER No not under any circumstances
, Which of the following is NOT criteria for identifying a person with a disability, according to
HUD? - CORRECT ANSWER An individual who says she has a disability
As part of a civil penalty for a conviction on fair housing violations, the person could be
asked to pay for the victims' inconvenience, mental anguish, and out-of-pocket expenses to
acquire higher-priced housing. These are called - CORRECT ANSWER actual
damages
Once a fair housing complaint has been filed, an investigation takes place and, if reasonable
grounds exist to believe an incident has occurred, the next likely step is - CORRECT
ANSWER for informal conferences and conciliation to resolve the issue
There are two main enforcement agencies for the State Fair Housing Act in North Carolina.
One is the North Carolina Human Relations Committee and the other is - CORRECT
ANSWER HUD
Helping buyers understand that their best bet is to stay in neighbourhoods where they will
feel comfortable with their neighbours, and basing your efforts as an agent on the race of
national origin of the buyers is textbook - CORRECT ANSWER Steering
Among the civil penalties that could be levied during a fair housing trial are penalties
assessed against persons who wilfully violated the State Fair Housing Act or blatantly
disregarded the laws. These damages are called - CORRECT ANSWER Punitive
In 1995, changes were made to the State Fair Housing Act and housing for older persons.
With certain circumstances, the law now exempts those properties that are - CORRECT
ANSWER 55 years and older
All wastewater must be treated through a septic system or a sewage treatment plant. Despite
this, some people still empty wastewater directly into lakes and streams or onto land. This is
called - CORRECT ANSWER straight piping
QUESTIONS AND CORRECT ANSWERS
Is it permissible for an apartment complex to post a notice outside the complex that says,
"Free two months' rent with a one-year lease? - CORRECT ANSWER Yes, it is
offering a thing of value to a party to the transaction
If a provisional broker earned a commission with a firm but now works for another company,
how would the commission be paid? - CORRECT ANSWER The firm may pay the
provisional broker directly or pay the new broker-in-charge, who can then pay the provisional
broker
The NCREC will hear complaints concerning improper compensation of both brokers and
unlicensed persons but will not hear cases involving disputes under - CORRECT
ANSWER a brokerage cooperation agreement
In NC, if you choose to provide services for someone without licensing, you may be guilty of
- CORRECT ANSWER a Class 1 misdemeanour
A broker may set up a company for the sole purpose of getting paid through the company
instead of a 1099 independent contractor. The entity created for payments must apply and
obtain a firm broker license before.. - CORRECT ANSWER any compensation is paid
to the entity
Not only may an unlicensed person not practice real estate in NC, but this person also may
not be - CORRECT ANSWER compensated for engaging in any real estate brokerage
activities
Because a broker in charge is forbidden from paying an unlicensed entity a commission, the
BIC would want to make sure the entity is licensed and that the broker who uses the company
has renewed his - CORRECT ANSWER for-compensation-only firm license
Is paying a referral fee acceptable for a NC licensed broker? - CORRECT
ANSWER No not under any circumstances
, Which of the following is NOT criteria for identifying a person with a disability, according to
HUD? - CORRECT ANSWER An individual who says she has a disability
As part of a civil penalty for a conviction on fair housing violations, the person could be
asked to pay for the victims' inconvenience, mental anguish, and out-of-pocket expenses to
acquire higher-priced housing. These are called - CORRECT ANSWER actual
damages
Once a fair housing complaint has been filed, an investigation takes place and, if reasonable
grounds exist to believe an incident has occurred, the next likely step is - CORRECT
ANSWER for informal conferences and conciliation to resolve the issue
There are two main enforcement agencies for the State Fair Housing Act in North Carolina.
One is the North Carolina Human Relations Committee and the other is - CORRECT
ANSWER HUD
Helping buyers understand that their best bet is to stay in neighbourhoods where they will
feel comfortable with their neighbours, and basing your efforts as an agent on the race of
national origin of the buyers is textbook - CORRECT ANSWER Steering
Among the civil penalties that could be levied during a fair housing trial are penalties
assessed against persons who wilfully violated the State Fair Housing Act or blatantly
disregarded the laws. These damages are called - CORRECT ANSWER Punitive
In 1995, changes were made to the State Fair Housing Act and housing for older persons.
With certain circumstances, the law now exempts those properties that are - CORRECT
ANSWER 55 years and older
All wastewater must be treated through a septic system or a sewage treatment plant. Despite
this, some people still empty wastewater directly into lakes and streams or onto land. This is
called - CORRECT ANSWER straight piping
