Real estate
which of the following statements is true regarding a townhouse project in a
planned unit development in North Carolina?
A) A townhouse receives a deed to the land on which the townhouse unit is
located.
B) a townhouse unit usually has only one floor.
C) there are usually no common areas in a townhouse project .
D) a townhouse owner receives shares of stock in a cooperative organization
coupled with a proprietary lease. - CORRECT ANSWER-A
A North Carolina real estate broker is managing an apartment community.
occupancy has dropped 80% and the broker needs to attract more tenants.
which of the following actions may the broker lawfully take to solicit more
tenants?
A)offer 1 months free rent to existing tenants who refer new tenants
B)offer 2 months free to each new tenant who signs a one year lease
C)offer referral fees to the chamber of commerce for sending new tenants
D)offer referral fees to any broker who has an active or inactive license -
CORRECT ANSWER-B
A property owner owns a house in severalty prior to marriage, the owners new
spouse moves into the house and pays half of the mortgage payment monthly.
the ownership structure is now?
A) joint tenancy
B) Tenancy in common
C) tenancy By the entirety
D) sole ownership by original property owner - CORRECT ANSWER-B
in sales transaction subject to the residential property disclosure act, the act
requires the appropriate disclosure statement to be provided to prospective
purchasers by the?
A) broker prior to the date of the purchasers first viewing of the property.
B) seller not later than an acceptance of an offer to purchase on the property.
C) seller not later than the time an offer to buy the property is made by the
purchaser .
, D) broker paid to the expiration of the purchasers due dilligance period. -
CORRECT ANSWER-B
Guidelines published by the North Carolina real estate commission indicate that,
under state laws, the tenants security deposit may be used by the landlord(or
property manager) to repair all of the following damages to a residential property
being vacated EXEPT?
A) ripped carpet
B) unauthorized paint colors
C) dirty walls, floors, and windows
D) permanent marker drawings on walls. - CORRECT ANSWER-C
The North Carolina real estate commission publication working with real estate
agents
A) becomes a binding agency contract when property dated and signed by all
parties to the agreement
B) briefly explains real estate agency relationships and the duties of real estate
agents.
C) makes clear to consumers that licenses may under no circumstances work
with buyers without a written buyer agency agreement
D) must be signed, dated, and attached to each offer to purchase presented to a
seller by a buyers agent - CORRECT ANSWER-B
In North Carolina, may a broker lawfully share with an unlicensed buyer part of
the commission the broker earns on the buyers transaction?
A) no, because an unlicensed buyer may never lawfully recevie any
compensation derived from a real estate brokerage transaction.
B) no, because the payment to the unlicensed buyer would violate the real estate
settlement procedures act (RESPA)
C) yes, subject to lender approval and disclosure on the settlement statement
because the buyer is a party to the transaction
D) yes, because commissions earned by a licensed broker working as a buyers
agent may be split with unlicensed persons - CORRECT ANSWER-c
which of the following is true regarding a subdivision with private streets?
A) the developer must have provided curbs and gutters throughout the
subdivition
which of the following statements is true regarding a townhouse project in a
planned unit development in North Carolina?
A) A townhouse receives a deed to the land on which the townhouse unit is
located.
B) a townhouse unit usually has only one floor.
C) there are usually no common areas in a townhouse project .
D) a townhouse owner receives shares of stock in a cooperative organization
coupled with a proprietary lease. - CORRECT ANSWER-A
A North Carolina real estate broker is managing an apartment community.
occupancy has dropped 80% and the broker needs to attract more tenants.
which of the following actions may the broker lawfully take to solicit more
tenants?
A)offer 1 months free rent to existing tenants who refer new tenants
B)offer 2 months free to each new tenant who signs a one year lease
C)offer referral fees to the chamber of commerce for sending new tenants
D)offer referral fees to any broker who has an active or inactive license -
CORRECT ANSWER-B
A property owner owns a house in severalty prior to marriage, the owners new
spouse moves into the house and pays half of the mortgage payment monthly.
the ownership structure is now?
A) joint tenancy
B) Tenancy in common
C) tenancy By the entirety
D) sole ownership by original property owner - CORRECT ANSWER-B
in sales transaction subject to the residential property disclosure act, the act
requires the appropriate disclosure statement to be provided to prospective
purchasers by the?
A) broker prior to the date of the purchasers first viewing of the property.
B) seller not later than an acceptance of an offer to purchase on the property.
C) seller not later than the time an offer to buy the property is made by the
purchaser .
, D) broker paid to the expiration of the purchasers due dilligance period. -
CORRECT ANSWER-B
Guidelines published by the North Carolina real estate commission indicate that,
under state laws, the tenants security deposit may be used by the landlord(or
property manager) to repair all of the following damages to a residential property
being vacated EXEPT?
A) ripped carpet
B) unauthorized paint colors
C) dirty walls, floors, and windows
D) permanent marker drawings on walls. - CORRECT ANSWER-C
The North Carolina real estate commission publication working with real estate
agents
A) becomes a binding agency contract when property dated and signed by all
parties to the agreement
B) briefly explains real estate agency relationships and the duties of real estate
agents.
C) makes clear to consumers that licenses may under no circumstances work
with buyers without a written buyer agency agreement
D) must be signed, dated, and attached to each offer to purchase presented to a
seller by a buyers agent - CORRECT ANSWER-B
In North Carolina, may a broker lawfully share with an unlicensed buyer part of
the commission the broker earns on the buyers transaction?
A) no, because an unlicensed buyer may never lawfully recevie any
compensation derived from a real estate brokerage transaction.
B) no, because the payment to the unlicensed buyer would violate the real estate
settlement procedures act (RESPA)
C) yes, subject to lender approval and disclosure on the settlement statement
because the buyer is a party to the transaction
D) yes, because commissions earned by a licensed broker working as a buyers
agent may be split with unlicensed persons - CORRECT ANSWER-c
which of the following is true regarding a subdivision with private streets?
A) the developer must have provided curbs and gutters throughout the
subdivition
