NORTH CAROLINA REAL ESTATE
STATE PORTION TEST BANK 2026
TESTED QUESTIONS WITH CORRECT
ANSWERS
◉ Referrals for compensation. Answer: Requires an active license
◉ Selling time shares. Answer: Requires an active license
◉ Advertising. Answer: In ANY manner (to include a business card),
requires an active license
◉ Business Entities/Firm License. Answer: ANY corporation,
partnership, Limited Liability Company, association or other business
entity (other than a sole proprietorship) MUST obtain a separate (firm)
license.
◉ Exempt Activities. Answer: -Business entity
-Attorney in Fact
-Attorney at Law
-Receiver/Trustee
-Salaried Employees of Broker-Property Managers
-Owner
-Housing Authority
-Auctioneer (the mere "crier" of a sale is exempt
, ◉ Permitted Activities of Unlicensed Assistants. Answer: -SHOW
"rental" properties managed by the employee's empoying broker to
prospective tenants
-COMPLETE and execute pre-printed form leases for rental of such
properties
-TYPE offers, contracts & leases from drafts of pre-printed forms
completed by a licensee.
-MAY act as a bookkeeper for the firm's Trust Account
◉ What kind of license do I need?. Answer: There is only one "type" of
license in NC, a broker license; however, there are several license
categories.
◉ Broker. Answer: A provisional broker who satisfied all postlicense
education requirements to terminate the provisional status of such
license becomes a broker.
-May accept commissions from parties OTHER that the BIC
-May operate independently as a sole proprietor or under supervision of
BIC
◉ Provisional Broker. Answer: "Entry level" status category- a person
who has met all license qualification requirements
STATE PORTION TEST BANK 2026
TESTED QUESTIONS WITH CORRECT
ANSWERS
◉ Referrals for compensation. Answer: Requires an active license
◉ Selling time shares. Answer: Requires an active license
◉ Advertising. Answer: In ANY manner (to include a business card),
requires an active license
◉ Business Entities/Firm License. Answer: ANY corporation,
partnership, Limited Liability Company, association or other business
entity (other than a sole proprietorship) MUST obtain a separate (firm)
license.
◉ Exempt Activities. Answer: -Business entity
-Attorney in Fact
-Attorney at Law
-Receiver/Trustee
-Salaried Employees of Broker-Property Managers
-Owner
-Housing Authority
-Auctioneer (the mere "crier" of a sale is exempt
, ◉ Permitted Activities of Unlicensed Assistants. Answer: -SHOW
"rental" properties managed by the employee's empoying broker to
prospective tenants
-COMPLETE and execute pre-printed form leases for rental of such
properties
-TYPE offers, contracts & leases from drafts of pre-printed forms
completed by a licensee.
-MAY act as a bookkeeper for the firm's Trust Account
◉ What kind of license do I need?. Answer: There is only one "type" of
license in NC, a broker license; however, there are several license
categories.
◉ Broker. Answer: A provisional broker who satisfied all postlicense
education requirements to terminate the provisional status of such
license becomes a broker.
-May accept commissions from parties OTHER that the BIC
-May operate independently as a sole proprietor or under supervision of
BIC
◉ Provisional Broker. Answer: "Entry level" status category- a person
who has met all license qualification requirements
