301- NC Post Licensing | 100% Correct
Answers | Verified | Latest 2024 Version
Can an inactive agent be paid a referral commission if they were active at the time they made the
referral? - ✔✔Yes. If and only if they were active at time of referral
Must Dual Agency be in writing? - ✔✔Before 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? -
✔✔Advertising
May a BIC and their Provisional Broker enter into dual agency together? - ✔✔No. Because the BIC
oversees the PBs transactions, this would be a conflict of interest
When must all agency be "Written" - ✔✔Prior to first offer
Are all in-house transactions Dual Agency? - ✔✔No. The exceptions would be Seller Sub Agency or
Unrepresented Buyers
Can The Real Estate Commission fine brokers? - ✔✔No. They can only reprimand, suspend, and revoke
licenses
Who can sue agents civilly for monetary compensation? - ✔✔Principles of a transaction
If Dual Agency is not disclosed is a commission due? - ✔✔No. 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? - ✔✔Contractual Obligations
, What must all agency agreements have? - ✔✔A beginning and ending date
Oral to Oral & Written to Written describe what? - ✔✔The permissions needed to show a property as a
"Dual Agent"
What should every agent bring to a listing appointment? - ✔✔Deed, Plot Map, Tax Info, RPD, MOG,
Listing Agreement (Several Other items)
Who gets paid in an Exclusive Right to Sell listing agreement? - ✔✔The listing agent, regardless of who
brings a buyer, and likely the buyer agent
Who gets paid in an exclusive listing agreement? - ✔✔Whomever brings a buyer
Who can sell a property in an Open listing? - ✔✔Any actively licensed agent
In a net listing money above the asking price is paid to whom? - ✔✔Listing Agent
Who is the actual agent to the principle in a transaction? - ✔✔The Firm (Individual agents are sub agents
to seller)
No M.O.G. is needed for what 3 listings? - ✔✔Lease to purchase, 1st Dwelling, and Foreclosure
When should WWREA be explained / signed? - ✔✔At first substantial contact
If you miss the 6/10 Deadline for CE what must you do to re-activate your license? - ✔✔Complete latest
General Update (4 Hours), and 3 CE Classes (4 hours each) Total of 16 hours
Under NC License Law who can be held responsible for reporting Material Facts? - ✔✔Only Agents...
(License Law)
Answers | Verified | Latest 2024 Version
Can an inactive agent be paid a referral commission if they were active at the time they made the
referral? - ✔✔Yes. If and only if they were active at time of referral
Must Dual Agency be in writing? - ✔✔Before 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? -
✔✔Advertising
May a BIC and their Provisional Broker enter into dual agency together? - ✔✔No. Because the BIC
oversees the PBs transactions, this would be a conflict of interest
When must all agency be "Written" - ✔✔Prior to first offer
Are all in-house transactions Dual Agency? - ✔✔No. The exceptions would be Seller Sub Agency or
Unrepresented Buyers
Can The Real Estate Commission fine brokers? - ✔✔No. They can only reprimand, suspend, and revoke
licenses
Who can sue agents civilly for monetary compensation? - ✔✔Principles of a transaction
If Dual Agency is not disclosed is a commission due? - ✔✔No. 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? - ✔✔Contractual Obligations
, What must all agency agreements have? - ✔✔A beginning and ending date
Oral to Oral & Written to Written describe what? - ✔✔The permissions needed to show a property as a
"Dual Agent"
What should every agent bring to a listing appointment? - ✔✔Deed, Plot Map, Tax Info, RPD, MOG,
Listing Agreement (Several Other items)
Who gets paid in an Exclusive Right to Sell listing agreement? - ✔✔The listing agent, regardless of who
brings a buyer, and likely the buyer agent
Who gets paid in an exclusive listing agreement? - ✔✔Whomever brings a buyer
Who can sell a property in an Open listing? - ✔✔Any actively licensed agent
In a net listing money above the asking price is paid to whom? - ✔✔Listing Agent
Who is the actual agent to the principle in a transaction? - ✔✔The Firm (Individual agents are sub agents
to seller)
No M.O.G. is needed for what 3 listings? - ✔✔Lease to purchase, 1st Dwelling, and Foreclosure
When should WWREA be explained / signed? - ✔✔At first substantial contact
If you miss the 6/10 Deadline for CE what must you do to re-activate your license? - ✔✔Complete latest
General Update (4 Hours), and 3 CE Classes (4 hours each) Total of 16 hours
Under NC License Law who can be held responsible for reporting Material Facts? - ✔✔Only Agents...
(License Law)
