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NC Post Licensing 301 Comprehensive Review Vault 2.pdf – Thorough preparation guide featuring carefully organized content and comprehensive revision exercises for improved exam performance.

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NC Post Licensing 301 Comprehensive Review Vault – Thorough preparation guide featuring carefully organized content and comprehensive revision exercises for improved exam performance.

Instelling
NC POST LICENSING
Vak
NC POST LICENSING

Voorbeeld van de inhoud

NC Post Licensing 301 Comprehensive
Review Vault: Extensive Question Bank with
Accurate and Detailed Answers, Practical
Examples, Key Topic Summaries, Assessment
Practice & Knowledge Enhancement Topic 2:
Working With Real Estate Agents (WWREA)
Brochure & Disclosures.
Q1. The "Working With Real Estate Agents" (WWREA) brochure is required by:
A) The NC General Assembly statute
B) The NC Real Estate Commission
C) The federal Fair Housing Act
D) The NAR Code of Ethics

✔ Correct Answer: B
The NC Real Estate Commission mandates the WWREA brochure under its rules (21 NCAC 58A
.0104).



Q2. The primary purpose of the WWREA brochure is to:
A) Advertise the broker's services
B) Explain the different types of agency relationships available in NC
C) Disclose property defects
D) Provide a contract form

✔ Correct Answer: B
The brochure explains seller agency, buyer agency, dual agency, and facilitator (transaction
brokerage) relationships.



Q3. When must the WWREA brochure be provided to a prospective buyer or seller?
A) At closing
B) At first substantial contact

,C) After signing a contract
D) Only if requested

✔ Correct Answer: B
The brochure must be provided at first substantial contact before any confidential information is
exchanged.



Q4. What is considered "first substantial contact" with a prospective buyer?
A) When the buyer makes an offer
B) When the buyer asks a specific question about a property
C) When the broker and buyer meet to discuss a specific property or the buyer's needs
D) When the buyer signs a contract

✔ Correct Answer: C
First substantial contact occurs when the discussion moves beyond generalities to specific
properties or the buyer's needs.



Q5. A broker meets a buyer at an open house. The buyer asks, "How long has this property been
on the market?" The broker should:
A) Answer the question without providing the WWREA brochure
B) Provide the WWREA brochure before answering substantive questions
C) Refuse to answer until the buyer signs an agency agreement
D) Tell the buyer to call the office

✔ Correct Answer: B
At first substantial contact (which includes answering substantive questions), the broker must
provide the WWREA brochure.



Q6. A broker hands a buyer the WWREA brochure at an open house. The buyer refuses to sign
it. The broker should:
A) Refuse to show any more properties
B) Note "Refused to sign" on the brochure and proceed with facilitator relationship
C) Force the buyer to sign
D) Call the police

, ✔ Correct Answer: B
If a party refuses to sign, the broker should note the refusal on the document and proceed. The
broker cannot force a signature.



Q7. The WWREA brochure must be signed by:
A) The broker only
B) The prospective buyer or seller only
C) Both the broker and the prospective client
D) No signature is required by law

✔ Correct Answer: C
Commission rules require that the WWREA be signed by both the broker and the prospective
client.



Q8. A broker provides the WWREA brochure to a seller. The seller signs it. This document:
A) Creates an agency relationship automatically
B) Does not create an agency relationship; it only acknowledges receipt and understanding of
agency options
C) Is a listing agreement
D) Is a buyer agency agreement

✔ Correct Answer: B
The WWREA is an informational document, not an agency agreement. A separate written
agency agreement (listing or buyer agency) is required to create agency.



Q9. The WWREA brochure includes a check box for which type of agency?
A) Buyer agency only
B) Seller subagency
C) Dual agency only
D) Facilitator only

✔ Correct Answer: B
The WWREA includes a box on the last page for "Seller Subagency – Not Currently Used." This is
a historical option that is rarely checked.

Geschreven voor

Instelling
NC POST LICENSING
Vak
NC POST LICENSING

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