NC License Law 01
c. post licensing courses end on June 10th and must be completed for the
provisional broker to renew their license on June 30th - CORRECT
ANSWER-(Online-Q14) Which of the following is INCORRECT about the post
licensing requirement of a provisional broker?
a. the due date of the post licensing education is the anniversary date of
licensure
b. post licensing consists of three 30 hour courses which may be taken in any
order and must be completed within 18 months of obtaining license
c. post licensing courses end on June 10th and must be completed for the
provisional broker to renew their license on June 30th
d. if a provisional broker does not complete post licensing by the deadlines their
license will become inactiveterm-11
c. exhibit homes that are for sale and show the buyer around the home -
CORRECT ANSWER-(Online-Q2) An unlicensed assistant may do all of the
following activities, EXCEPT:
a. assist the licensee with administrative duties and tasks
b. exhibit units for rent and provide tenants with information about the lease
agreement
c. exhibit homes that are for sale and show the buyer around the home
d. fill in preprinted lease agreements and collect monies from prospective
tenants, as long as the employee does not negotiate rents
c. Timeshares are not considered real estate and no license is required to sell
time shares in North Carolina.
d. Any refunds due to a cancellation of a timeshare - CORRECT
ANSWER-(Online-Q3) With regard to timeshares, all of the following are true,
EXCEPT:
a. A timeshare developer and broker must maintain records of sales, rentals or
exchange transactions for a minimum of three years.
b. All monies received by a timeshare developer or broker must be deposited
within three banking days of receipt and remain in the trust account for ten days
from the date of sale or until cancellation by the purchaser, whichever occurs
first.
, c. Timeshares are not considered real estate and no license is required to sell
time shares in North Carolina.
d. Any refunds due to a cancellation of a timeshare purchase will be refunded
within 30 days following the date of execution of the
d. They shall have the power to make reasonable bylaws, rules and regulations
that are inconsistent with the provisions of the general - CORRECT
ANSWER-(Online-Q5) All of the following statements are correct regarding the
NCREC, EXCEPT:
a. They shall be entitled to the services of the Attorney General of North
Carolina.
b. They shall not make rules or regulations regulating commissions, salaries, or
fees to be charged by licensees.
c. They shall make rules to allow a licensee to pay a travel agent who does not
have a real estate license a referral fee.
d. They shall have the power to make reasonable bylaws, rules and regulations
that are inconsistent with the provisions of the general
b. fine a timeshare developer up to $500 per violation of the Timeshare Act -
CORRECT ANSWER-(Online-Q6) It is correct to say that the NC Real Estate
Commission may not fine a real estate licensee. However, the NC Real Estate
Commission may do which of the following?
a. order licensees to pay clients for damages caused and arbitrate disputes over
fees
b. fine a timeshare developer up to $500 per violation of the Timeshare Act
c. revoke a broker's license if the broker fails to take the required number of
continuing education hours per year
d. dictate the amount of commission brokers may charge their clients and resolve
commission disputes between agents
d. the neighbor brings fresh tomatoes from their garden and bakes their agent a
fresh apple pie as a way of saying thank you - CORRECT ANSWER-(Online-Q7)
General Statute 93A-2 states, in part, that a real estate broker is any person who,
for compensation or valuable consideration or the promise thereof, lists or offers
to list property. All of the following would constitute valuable consideration,
EXCEPT:
c. post licensing courses end on June 10th and must be completed for the
provisional broker to renew their license on June 30th - CORRECT
ANSWER-(Online-Q14) Which of the following is INCORRECT about the post
licensing requirement of a provisional broker?
a. the due date of the post licensing education is the anniversary date of
licensure
b. post licensing consists of three 30 hour courses which may be taken in any
order and must be completed within 18 months of obtaining license
c. post licensing courses end on June 10th and must be completed for the
provisional broker to renew their license on June 30th
d. if a provisional broker does not complete post licensing by the deadlines their
license will become inactiveterm-11
c. exhibit homes that are for sale and show the buyer around the home -
CORRECT ANSWER-(Online-Q2) An unlicensed assistant may do all of the
following activities, EXCEPT:
a. assist the licensee with administrative duties and tasks
b. exhibit units for rent and provide tenants with information about the lease
agreement
c. exhibit homes that are for sale and show the buyer around the home
d. fill in preprinted lease agreements and collect monies from prospective
tenants, as long as the employee does not negotiate rents
c. Timeshares are not considered real estate and no license is required to sell
time shares in North Carolina.
d. Any refunds due to a cancellation of a timeshare - CORRECT
ANSWER-(Online-Q3) With regard to timeshares, all of the following are true,
EXCEPT:
a. A timeshare developer and broker must maintain records of sales, rentals or
exchange transactions for a minimum of three years.
b. All monies received by a timeshare developer or broker must be deposited
within three banking days of receipt and remain in the trust account for ten days
from the date of sale or until cancellation by the purchaser, whichever occurs
first.
, c. Timeshares are not considered real estate and no license is required to sell
time shares in North Carolina.
d. Any refunds due to a cancellation of a timeshare purchase will be refunded
within 30 days following the date of execution of the
d. They shall have the power to make reasonable bylaws, rules and regulations
that are inconsistent with the provisions of the general - CORRECT
ANSWER-(Online-Q5) All of the following statements are correct regarding the
NCREC, EXCEPT:
a. They shall be entitled to the services of the Attorney General of North
Carolina.
b. They shall not make rules or regulations regulating commissions, salaries, or
fees to be charged by licensees.
c. They shall make rules to allow a licensee to pay a travel agent who does not
have a real estate license a referral fee.
d. They shall have the power to make reasonable bylaws, rules and regulations
that are inconsistent with the provisions of the general
b. fine a timeshare developer up to $500 per violation of the Timeshare Act -
CORRECT ANSWER-(Online-Q6) It is correct to say that the NC Real Estate
Commission may not fine a real estate licensee. However, the NC Real Estate
Commission may do which of the following?
a. order licensees to pay clients for damages caused and arbitrate disputes over
fees
b. fine a timeshare developer up to $500 per violation of the Timeshare Act
c. revoke a broker's license if the broker fails to take the required number of
continuing education hours per year
d. dictate the amount of commission brokers may charge their clients and resolve
commission disputes between agents
d. the neighbor brings fresh tomatoes from their garden and bakes their agent a
fresh apple pie as a way of saying thank you - CORRECT ANSWER-(Online-Q7)
General Statute 93A-2 states, in part, that a real estate broker is any person who,
for compensation or valuable consideration or the promise thereof, lists or offers
to list property. All of the following would constitute valuable consideration,
EXCEPT:
