NC 30-Hour Post Licensing Course 301
Overview Notes
When does confidentiality end for a client? - CORRECT ANSWER-Never, unless
you have a duty to disclose to a new client. (e.g., You represented a buyer client
three years ago. You just signed a new seller client who knows your former buyer
client and asks you how the buyer was able to pay cash for their property. Even
though you know that the buyer came into a large inheritance, you do not
disclose this to your new client.)
Self Dealing - CORRECT ANSWER-Occurs when a broker has an undisclosed
interest in a property
North Carolina's Unfair and Deceptive Trade Practices Act - CORRECT
ANSWER-Prohibits unfair or deceptive practices in commerce. (I.e giving
misleading opinions or false inducements, failing to disclose material facts, using
misleading advertising, making misrepresentations.)
.When you use a comparative market analysis to calculate a suggested listing
price range for a particular property, which of the following actions will you take?
A.Adjust prices from all properties listed or sold within a one-mile radius of the
subject property.
B.Calculate a price range based on data from expired listings and pending sales.
C.Use adjusted prices from comparables and refine a range using active listings,
expired listings, and possibly pending listings.
D.Use adjusted prices from comparables and refine a range using active listings,
expired listings, and possibly pending listings. - CORRECT ANSWER-C. Use
adjusted prices from comparables and refine a range using active listings,
expired listings, and possibly pending listings.
Trinity represents a buyer who is interested in one of Trinity's new listings. Which
of these statements about dual agency consent is correct?
A. Only the seller's consent must be in writing throughout the transaction.
, B. The buyer's verbal consent is adequate until an offer to the seller is accepted.
C. Trinity must obtain written dual agency consent from both parties before
presenting an offer from the buyer to the seller.
D. Trinity must obtain written dual agency consent from both parties before
showing the house to this buyer. - CORRECT ANSWER-C. Trinity must obtain
written dual agency consent from both parties before presenting an offer from the
buyer to the seller.
Which one of the following is an example of a North Carolina seller's agent
carrying out the duty of loyalty?
A. Harry ensures his clients know about any potential issues that might interfere
with a smooth transaction, including any possible conflicts of interest Harry might
have.
B. Jared receives an offer from a buyer and makes some reasonable inquiries
into that buyer's financial readiness.
C. Lindsay advises her client against reducing the sale price on the listing, but
then processes the discount as her client requested.
D. Sandra refuses to share information about her client's motivation to sell with
the buyer's agent, even when asked. - CORRECT ANSWER-C. Lindsay advises
her client against reducing the sale price on the listing, but then processes the
discount as her client requested.
Which one of the following statements is NOT an example of a North Carolina
buyer agent carrying out the duty of obedience?
A. Brian doesn't think that his buyer client should submit an offer that high, but
after advising him, he submits the offer that his client wants.
B. Carl's client Gerard wants to buy a house and be settled quickly, so Carl seeks
out listings that include the terms "motivated seller."
C. Theo lines up a showing of a home that has all the items on his buyer's wish
list, even though the commission split is far less than he normally sees.
D. Trevor schedules an open house for his seller clients for the following
Saturday over his clients' protests, because he knows that Saturday open houses
are well-attended. - CORRECT ANSWER-D. Trevor schedules an open house
for his seller clients for the following Saturday over his clients' protests, because
he knows that Saturday open houses are well-attended.
Overview Notes
When does confidentiality end for a client? - CORRECT ANSWER-Never, unless
you have a duty to disclose to a new client. (e.g., You represented a buyer client
three years ago. You just signed a new seller client who knows your former buyer
client and asks you how the buyer was able to pay cash for their property. Even
though you know that the buyer came into a large inheritance, you do not
disclose this to your new client.)
Self Dealing - CORRECT ANSWER-Occurs when a broker has an undisclosed
interest in a property
North Carolina's Unfair and Deceptive Trade Practices Act - CORRECT
ANSWER-Prohibits unfair or deceptive practices in commerce. (I.e giving
misleading opinions or false inducements, failing to disclose material facts, using
misleading advertising, making misrepresentations.)
.When you use a comparative market analysis to calculate a suggested listing
price range for a particular property, which of the following actions will you take?
A.Adjust prices from all properties listed or sold within a one-mile radius of the
subject property.
B.Calculate a price range based on data from expired listings and pending sales.
C.Use adjusted prices from comparables and refine a range using active listings,
expired listings, and possibly pending listings.
D.Use adjusted prices from comparables and refine a range using active listings,
expired listings, and possibly pending listings. - CORRECT ANSWER-C. Use
adjusted prices from comparables and refine a range using active listings,
expired listings, and possibly pending listings.
Trinity represents a buyer who is interested in one of Trinity's new listings. Which
of these statements about dual agency consent is correct?
A. Only the seller's consent must be in writing throughout the transaction.
, B. The buyer's verbal consent is adequate until an offer to the seller is accepted.
C. Trinity must obtain written dual agency consent from both parties before
presenting an offer from the buyer to the seller.
D. Trinity must obtain written dual agency consent from both parties before
showing the house to this buyer. - CORRECT ANSWER-C. Trinity must obtain
written dual agency consent from both parties before presenting an offer from the
buyer to the seller.
Which one of the following is an example of a North Carolina seller's agent
carrying out the duty of loyalty?
A. Harry ensures his clients know about any potential issues that might interfere
with a smooth transaction, including any possible conflicts of interest Harry might
have.
B. Jared receives an offer from a buyer and makes some reasonable inquiries
into that buyer's financial readiness.
C. Lindsay advises her client against reducing the sale price on the listing, but
then processes the discount as her client requested.
D. Sandra refuses to share information about her client's motivation to sell with
the buyer's agent, even when asked. - CORRECT ANSWER-C. Lindsay advises
her client against reducing the sale price on the listing, but then processes the
discount as her client requested.
Which one of the following statements is NOT an example of a North Carolina
buyer agent carrying out the duty of obedience?
A. Brian doesn't think that his buyer client should submit an offer that high, but
after advising him, he submits the offer that his client wants.
B. Carl's client Gerard wants to buy a house and be settled quickly, so Carl seeks
out listings that include the terms "motivated seller."
C. Theo lines up a showing of a home that has all the items on his buyer's wish
list, even though the commission split is far less than he normally sees.
D. Trevor schedules an open house for his seller clients for the following
Saturday over his clients' protests, because he knows that Saturday open houses
are well-attended. - CORRECT ANSWER-D. Trevor schedules an open house
for his seller clients for the following Saturday over his clients' protests, because
he knows that Saturday open houses are well-attended.
