Superior Real Estate School Exam Questions
and Answers
Question 1
A provisional broker obtains their NC real estate license on April 15th and joins a real
estate firm. In order to remain active, the broker must pay the renewal fee to the NC
Real Estate Commission on or before:
A. June 30 of the current year
B. June 30 of the following year
C. June 10 of the current year
D. December 31 of the current year
Correct Answer
A. June 30 of the current year
Question 2
When appraising real estate, the appraiser would consider all of the following in
making a determination of value, EXCEPT:
A. contractual agreement between the seller and the buyer
B. highest and best use of the property
C. seller's original purchase price of the property
D. selling prices of similar properties
Correct Answer
C. seller's original purchase price of the property
Page 1 of 114
,Question 3
In regard to the use of standard forms and contracts by real estate professionals and
the role of the North Carolina Real Estate Commission, NCREC:
A. requires the use of specific forms and contracts
B. drafts specific forms and contracts but does not mandate their use
C. prescribes certain essential provisions that must be included in the forms and
contracts
D. has no authority regarding the content of real estate forms and contracts
Correct Answer
C. prescribes certain essential provisions that must be included in the forms and
contracts
Question 4
All of the following are exempt from the requirement to provide an RPOADS and
MOG, EXCEPT:
A. Transfers between spouses
B. First sale of a dwelling not yet inhabited
C. Both parties agree not to complete the form
D. A For Sale by Owner
Correct Answer
D. A For Sale by Owner
Question 5
Aunt Fran decides to sell her property to a church with a fee simple interest, but Aunt
Fran reserved or excepted a conventional life estate. Which of the following
statements is true regarding this transfer?
A. The church is the life tenant and Aunt Fran has a reversionary interest.
B. Aunt Fran is the life tenant and the church has a remainder interest.
C. The church owns the property and Aunt Fran has established a non-freehold
interest.
D. This is best referred to as a life estate pur autre vie.
Correct Answer
B. Aunt Fran is the life tenant and the church has a remainder interest.
Page 2 of 114
,Question 6
A person who acquired ownership that can be inherited, with the provision "that the
land must always be used for recreational purposes," has:
A. a fee simple absolute estate
B. a defeasible fee
C. a fee simple to a condition subsequent estate
D. an estate that cannot be sold
Correct Answer
B. a defeasible fee
Question 7
An intoxicated individual enters into a sales contract to purchase a home. The
contract would be considered:
A. valid
B. voidable
C. void
D. unenforceable
Correct Answer
B. voidable
Page 3 of 114
, Question 8
A city evicts tenants of an apartment complex by the power of eminent domain
because of a planned highway expansion. Does the city have to pay compensation
and does the city have to let the tenants finish their lease terms?
A. The city would have to allow the tenants to complete their lease term and must pay
them compensation.
B. The city may never condemn an apartment building or other facility that is currently
occupied.
C. The city does not have to allow the tenants to complete their lease term, but the
city will have to compensate the tenants.
D. The city does not have to allow the tenants to finish their lease terms an because
they are not the owner of the apartment building, the tenants have no right to
compensation.
Correct Answer
C. The city does not have to allow the tenants to complete their lease term, but the
city will have to compensate the tenants.
Question 9
All of the following are true under the NC Condominium Act, EXCEPT:
A. the units are usually separately taxed and assessed
B. there must be a unit owner's association prior to the transfer of the first unit
C. a unit owner is prohibited from ownership of land and must take only title to their
individual unit.
D. if the buyer cancels within the 7 day rescission period all money must be returned
promptly with no penalty
Correct Answer
C. a unit owner is prohibited from ownership of land and must take only title to
their individual unit.
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and Answers
Question 1
A provisional broker obtains their NC real estate license on April 15th and joins a real
estate firm. In order to remain active, the broker must pay the renewal fee to the NC
Real Estate Commission on or before:
A. June 30 of the current year
B. June 30 of the following year
C. June 10 of the current year
D. December 31 of the current year
Correct Answer
A. June 30 of the current year
Question 2
When appraising real estate, the appraiser would consider all of the following in
making a determination of value, EXCEPT:
A. contractual agreement between the seller and the buyer
B. highest and best use of the property
C. seller's original purchase price of the property
D. selling prices of similar properties
Correct Answer
C. seller's original purchase price of the property
Page 1 of 114
,Question 3
In regard to the use of standard forms and contracts by real estate professionals and
the role of the North Carolina Real Estate Commission, NCREC:
A. requires the use of specific forms and contracts
B. drafts specific forms and contracts but does not mandate their use
C. prescribes certain essential provisions that must be included in the forms and
contracts
D. has no authority regarding the content of real estate forms and contracts
Correct Answer
C. prescribes certain essential provisions that must be included in the forms and
contracts
Question 4
All of the following are exempt from the requirement to provide an RPOADS and
MOG, EXCEPT:
A. Transfers between spouses
B. First sale of a dwelling not yet inhabited
C. Both parties agree not to complete the form
D. A For Sale by Owner
Correct Answer
D. A For Sale by Owner
Question 5
Aunt Fran decides to sell her property to a church with a fee simple interest, but Aunt
Fran reserved or excepted a conventional life estate. Which of the following
statements is true regarding this transfer?
A. The church is the life tenant and Aunt Fran has a reversionary interest.
B. Aunt Fran is the life tenant and the church has a remainder interest.
C. The church owns the property and Aunt Fran has established a non-freehold
interest.
D. This is best referred to as a life estate pur autre vie.
Correct Answer
B. Aunt Fran is the life tenant and the church has a remainder interest.
Page 2 of 114
,Question 6
A person who acquired ownership that can be inherited, with the provision "that the
land must always be used for recreational purposes," has:
A. a fee simple absolute estate
B. a defeasible fee
C. a fee simple to a condition subsequent estate
D. an estate that cannot be sold
Correct Answer
B. a defeasible fee
Question 7
An intoxicated individual enters into a sales contract to purchase a home. The
contract would be considered:
A. valid
B. voidable
C. void
D. unenforceable
Correct Answer
B. voidable
Page 3 of 114
, Question 8
A city evicts tenants of an apartment complex by the power of eminent domain
because of a planned highway expansion. Does the city have to pay compensation
and does the city have to let the tenants finish their lease terms?
A. The city would have to allow the tenants to complete their lease term and must pay
them compensation.
B. The city may never condemn an apartment building or other facility that is currently
occupied.
C. The city does not have to allow the tenants to complete their lease term, but the
city will have to compensate the tenants.
D. The city does not have to allow the tenants to finish their lease terms an because
they are not the owner of the apartment building, the tenants have no right to
compensation.
Correct Answer
C. The city does not have to allow the tenants to complete their lease term, but the
city will have to compensate the tenants.
Question 9
All of the following are true under the NC Condominium Act, EXCEPT:
A. the units are usually separately taxed and assessed
B. there must be a unit owner's association prior to the transfer of the first unit
C. a unit owner is prohibited from ownership of land and must take only title to their
individual unit.
D. if the buyer cancels within the 7 day rescission period all money must be returned
promptly with no penalty
Correct Answer
C. a unit owner is prohibited from ownership of land and must take only title to
their individual unit.
Page 4 of 114
