Superior NC Real Estate Question and
Answer A+ Verified 100% Correct
Questions and Answers
• What are activies that require you to have a license -✓✓(LLBEANS)
List
Lease
Buy
Exchange
Auction
Negotiate
Sell
• What activies exempt you from needing a license -✓✓(STAPLES)
Self
Trustor
Apprasier
Power of attorney
Lawyer
Executor
Salaried employees (W2)
• Practicing real esate without a license is what -✓✓Felony
• Salary is an exemption from ______ -✓✓compensation
• Types of licenses -✓✓Provisional Broker
Non-provisional
Broker in charge
Limited non resident commercial license
• Provisional -✓✓entry level license
Must be supervised by BIC (broker in charge)
can only be under one BIC at a time
Must take 90 hours of post edu after is must be completed 3 years after on your
anniversary date
• Non provisional -✓✓licensee who has completed all post licensing coures
, is also called a full broker
can be under more than one BIC as long as all BIC agree
• What needs to be done June 10th of every year -✓✓8 hours of continuing
education
4 hours of general update , 4 hours of electives
Provisional brokers are exempt from the first june 10th)
• what needs to be done June 30th of every year -✓✓Renew your license and pay
45$ fee
• Not doing any of these things will make your license inactive -✓✓Not being
affiliation with a BIC
Not being current on your MCE( mandatory continuing edu)
Not being current on your post licensing edu
• Not doing what will make your license expired -✓✓NOT PAYING YOUR 45$
fee to renew your license
• Limited non-resident Commerical Broker's License -✓✓limited to commercial
transactions (lease or purchases)
• Inactive license status -✓✓does not require you to complete MCE or Post
licensing BUT you must still pay the 45$ fee or your license will become expired
• you can receive a referral on inactive but you cannot ___ -✓✓be paid on the
referral (you have to be on active)
• you have ____ amount of days to inform NCREC when you change your contact
information -✓✓10
• you have ____ amount of days to inform NCREC when you are convicted
(crime) -✓✓60 days
• you have ____ amount of days to inform NCREC retention of records -✓✓3
years
Answer A+ Verified 100% Correct
Questions and Answers
• What are activies that require you to have a license -✓✓(LLBEANS)
List
Lease
Buy
Exchange
Auction
Negotiate
Sell
• What activies exempt you from needing a license -✓✓(STAPLES)
Self
Trustor
Apprasier
Power of attorney
Lawyer
Executor
Salaried employees (W2)
• Practicing real esate without a license is what -✓✓Felony
• Salary is an exemption from ______ -✓✓compensation
• Types of licenses -✓✓Provisional Broker
Non-provisional
Broker in charge
Limited non resident commercial license
• Provisional -✓✓entry level license
Must be supervised by BIC (broker in charge)
can only be under one BIC at a time
Must take 90 hours of post edu after is must be completed 3 years after on your
anniversary date
• Non provisional -✓✓licensee who has completed all post licensing coures
, is also called a full broker
can be under more than one BIC as long as all BIC agree
• What needs to be done June 10th of every year -✓✓8 hours of continuing
education
4 hours of general update , 4 hours of electives
Provisional brokers are exempt from the first june 10th)
• what needs to be done June 30th of every year -✓✓Renew your license and pay
45$ fee
• Not doing any of these things will make your license inactive -✓✓Not being
affiliation with a BIC
Not being current on your MCE( mandatory continuing edu)
Not being current on your post licensing edu
• Not doing what will make your license expired -✓✓NOT PAYING YOUR 45$
fee to renew your license
• Limited non-resident Commerical Broker's License -✓✓limited to commercial
transactions (lease or purchases)
• Inactive license status -✓✓does not require you to complete MCE or Post
licensing BUT you must still pay the 45$ fee or your license will become expired
• you can receive a referral on inactive but you cannot ___ -✓✓be paid on the
referral (you have to be on active)
• you have ____ amount of days to inform NCREC when you change your contact
information -✓✓10
• you have ____ amount of days to inform NCREC when you are convicted
(crime) -✓✓60 days
• you have ____ amount of days to inform NCREC retention of records -✓✓3
years
