NC Post Licensing 301 Practice Exam 1
1/50 Under which of the following circumstances would the client and agent most
likely mutually agree to terminate a listing?
a A buyer approached the seller with a much higher offer than the current listing
price.
b The agent and client don't agree on the best way to price, maintain, and market
the property.
c The client has found a buyer and wants to avoid paying a commission.
d The client's cousin just became licensed and needs her first listing.
b The agent and client don't agree on the best way to price, maintain, and market
the property.
2/50 Tabitha listed her property for sale, but it's been on the market for several
months with no offers. She decides to terminate her listing agreement and rent
the property out instead of selling it. Assuming that her listing agent has fulfilled
all of his responsibilities under the contract, can Tabitha terminate the contract
before its expiration date?
a Only if she and the listing agent mutually agree to terminate the agreement.
b Only if she succeeds in converting it to a rental.
c Yes because she's received no offers on the listing.
d Yes, she is entitled to terminate at any time.
a Only if she and the listing agent mutually agree to terminate the agreement.
3/50 As a North Carolina property manager, which of the following is Luisa
required to do?
a Act as the landlord’s representative in all matters, including legal counsel.
,b Advocate for the tenants’ interests above all others.
c Avoid performing any actions that would constitute a landlord’s duties.
d Perform the duties of a landlord, as laid out in statute and the lease.
Perform the duties of a landlord, as laid out in statute and the lease.
4/50 It's January, and the pool at Roger's listing has been prepped for winter for
several weeks. The homeowner assures Roger that it's in good working order.
Roger has no reason to disbelieve the homeowner, so he tells prospective
buyers that the pool is fine. The property sells, spring comes, and the new
owners call to complain that the pump doesn't work, and the pool drain appears
to be clogged. What did Roger commit?
a Fraud
b Negligent misrepresentation
c Roger did not commit a violation
d Unintentional misrepresentation
d Unintentional misrepresentation
5/50 ______ occurs when one licensee represents both the buyer and seller in
the same transaction without proper disclosure and consent.
a A breach of contract
b A conflict of interest Wrong
c Disclosed dual agency
, d Undisclosed dual agency
d Undisclosed dual agency
6/10 Which of the following is a true statement about an MLS and sellers?
a An MLS is available via a fee-based subscription and is an option that most
sellers prefer.
b An MLS is exclusive to members of the National Association of REALTORS®.
c For most sellers, marketing on an MLS is not cost effective.
d Sellers are required to market their properties on an MLS if they're working with
a real estate licensee.
a An MLS is available via a fee-based subscription and is an option that most
sellers prefer.
7/50 All North Carolina listing agreements must ______.
a Be signed by both the buyer and the seller
b Contain discriminatory language
c Have a six-month term
d Include the listing broker’s license number
Include the listing broker’s license number
1/50 Under which of the following circumstances would the client and agent most
likely mutually agree to terminate a listing?
a A buyer approached the seller with a much higher offer than the current listing
price.
b The agent and client don't agree on the best way to price, maintain, and market
the property.
c The client has found a buyer and wants to avoid paying a commission.
d The client's cousin just became licensed and needs her first listing.
b The agent and client don't agree on the best way to price, maintain, and market
the property.
2/50 Tabitha listed her property for sale, but it's been on the market for several
months with no offers. She decides to terminate her listing agreement and rent
the property out instead of selling it. Assuming that her listing agent has fulfilled
all of his responsibilities under the contract, can Tabitha terminate the contract
before its expiration date?
a Only if she and the listing agent mutually agree to terminate the agreement.
b Only if she succeeds in converting it to a rental.
c Yes because she's received no offers on the listing.
d Yes, she is entitled to terminate at any time.
a Only if she and the listing agent mutually agree to terminate the agreement.
3/50 As a North Carolina property manager, which of the following is Luisa
required to do?
a Act as the landlord’s representative in all matters, including legal counsel.
,b Advocate for the tenants’ interests above all others.
c Avoid performing any actions that would constitute a landlord’s duties.
d Perform the duties of a landlord, as laid out in statute and the lease.
Perform the duties of a landlord, as laid out in statute and the lease.
4/50 It's January, and the pool at Roger's listing has been prepped for winter for
several weeks. The homeowner assures Roger that it's in good working order.
Roger has no reason to disbelieve the homeowner, so he tells prospective
buyers that the pool is fine. The property sells, spring comes, and the new
owners call to complain that the pump doesn't work, and the pool drain appears
to be clogged. What did Roger commit?
a Fraud
b Negligent misrepresentation
c Roger did not commit a violation
d Unintentional misrepresentation
d Unintentional misrepresentation
5/50 ______ occurs when one licensee represents both the buyer and seller in
the same transaction without proper disclosure and consent.
a A breach of contract
b A conflict of interest Wrong
c Disclosed dual agency
, d Undisclosed dual agency
d Undisclosed dual agency
6/10 Which of the following is a true statement about an MLS and sellers?
a An MLS is available via a fee-based subscription and is an option that most
sellers prefer.
b An MLS is exclusive to members of the National Association of REALTORS®.
c For most sellers, marketing on an MLS is not cost effective.
d Sellers are required to market their properties on an MLS if they're working with
a real estate licensee.
a An MLS is available via a fee-based subscription and is an option that most
sellers prefer.
7/50 All North Carolina listing agreements must ______.
a Be signed by both the buyer and the seller
b Contain discriminatory language
c Have a six-month term
d Include the listing broker’s license number
Include the listing broker’s license number
