Post Licensing NC 301 Exam Questions And Answers (Verified And Updated)

Post Licensing NC 301 Exam Questions And Answers (Verified And Updated) Can an inactive agent be paid a referral commission if they were active at the time they made the referral? - answerYes. If and only if they were active at time of referral Must Dual Agency be in writing? - answerBefore an offer is made, Yes. Dual agency must be in writing and signed by both parties At a listing appointment, the agent should be gathering all information for listing and what? - answerAdvertising May a BIC and their Provisional Broker enter into dual agency together? - answerNo. Because the BIC oversees the PBs transactions, this would be a conflict of interest When must all agency be "Written" - answerPrior to first offer Are all in-house transactions Dual Agency? - answerNo. The exceptions would be Seller Sub Agency or Unrepresented Buyers Can The Real Estate Commission fine brokers? - answerNo. They can only reprimand, suspend, and revoke licenses Who can sue agents civilly for monetary compensation? - answerPrinciples of a transaction If Dual Agency is not disclosed is a commission due? - answerNo. Therefore it is imperative to disclose dual agency before any offers are written As a dual agent, the agent's duties are reduced to what? - answerContractual Obligations What must all agency agreements have? - answerA beginning and ending date Oral to Oral & Written to Written describe what? - answerThe permissions needed to show a property as a "Dual Agent" What should every agent bring to a listing appointment? - answerDeed, Plot Map, Tax Info, RPD, MOG, Listing Agreement (Several Other items) Who gets paid in an Exclusive Right to Sell listing agreement? - answerThe listing agent, regardless of who brings a buyer, and likely the buyer agent Who gets paid in an exclusive listing agreement? - answerWhomever brings a buyer