SUPERIOR NC REAL ESTATE IMPORTANT MIDTERM
EXAM/ SUPERIOR NC REAL ESTATE IMPORTANT
MIDTERM EXAM QUESTIONS AND ANSWERS
LATEST 2025-2026
Which of the following statements about real estate brokerage in North
Carolina is TRUE?
Select one:
a. A provisional broker must be supervised by a broker-in-charge while
performing brokerage services for compensation.
b. Homeowners must be active real estate brokers to sell their own
property.
c. Brokerage compensation is always a percentage of the gross sales
price.
d. A real estate licensee may perform an appraisal on a parcel of land. -
Answer-a. A provisional broker must be supervised by a broker-in-
charge while performing brokerage services for compensation.
The land of a common interest community
Select one:
a. is always owned by the owner's association.
b. cannot be owned by individual unit owners.
c. is automatically considered to be part of the common area.
d. may be maintained by the owner's association. - Answer-d. may be
maintained by the owner's association.
,Which of the following statements about the North Carolina Timeshare
Act is FALSE?
Select one:
a. Use of a two-bedroom unit for one-week every other year for a 8 year
period would meet the definition of a timeshare.
b. A timeshare developer can be fined by the NC Real Estate Commision
for violations of the Act.
c. A purchaser of a new timeshare ownership must be given a 10-day
rescission period.
d. An active NC real estate licensee is required to sell timeshares to the
public. - Answer-FALSE
a. Use of a two-bedroom unit for one-week every other year for a 8 year
period would meet the definition of a timeshare.
The purchaser of a property in a planned unit development will usually
receive all of the following EXCEPT
Select one:
a. an interest in the unit owner's association.
b. a proprietary lease for the unit to be occupied.
c. the title to the land on which the unit is built.
d. a share in the control of the commonly owned elements. - Answer-b. a
proprietary lease for the unit to be occupied.
A trust is
,Select one:
a. an agreement to hold assets on behalf of another.
b. a document used in real estate financing.
c. a type of deed
d. a contract addenda. - Answer-a. an agreement to hold assets on behalf
of another.
A provisional broker is representing a seller of a duplex property
located on 202 Nash Street. A prospective buyer contacts the
listing agentto set up an appointment to see the home. The provisional
broker explains the Working with Real Estate Agents brochure and
theprospective buyer elects not to have representation. Which of the
following statements is FALSE
regarding this transaction?
a. The prospective buyer is not obligated to sign the Working with
Real Estate Agents brochure; however, the agent should note thedate it
was explained.
b. Upon learning that the buyer is willing to pay more for the home,
the provisional broker should not disclose the information tothe seller as
he/she is acting as a dual agent.
c. The provisional broker can write up an offer by following the
instructions of the prospective buyer.
, d. A legally binding contract will be formed once it is unconditionally
accepted and the prospective b - Answer-False statement about Working
with RE Agents brochure
b. Upon learning that the buyer is willing to pay more for the home, the
provisional broker should not disclose the information to the seller as
he/she is acting as a dual agent.
Which of the following associations is FALSE?
a. Trustor-the individual who creates the trust.
b. Trustee - the fiduciary who exercises control of the subject property.
c. Trustee - the individual who creates the trust.
d. Trustor - grantor or settler - Answer-False
c. Trustee - the individual who creates the trust.
The NC Commercial Real Estate Broker Lien
a. allows a commercial client to sue a broker for breaching fiduciary
duties.
b. gives a buyer's agent the right to sue the commercial listing agent for
compensation.
c. allows a lien to be placed on the commercial property to secure the
broker's commission.
EXAM/ SUPERIOR NC REAL ESTATE IMPORTANT
MIDTERM EXAM QUESTIONS AND ANSWERS
LATEST 2025-2026
Which of the following statements about real estate brokerage in North
Carolina is TRUE?
Select one:
a. A provisional broker must be supervised by a broker-in-charge while
performing brokerage services for compensation.
b. Homeowners must be active real estate brokers to sell their own
property.
c. Brokerage compensation is always a percentage of the gross sales
price.
d. A real estate licensee may perform an appraisal on a parcel of land. -
Answer-a. A provisional broker must be supervised by a broker-in-
charge while performing brokerage services for compensation.
The land of a common interest community
Select one:
a. is always owned by the owner's association.
b. cannot be owned by individual unit owners.
c. is automatically considered to be part of the common area.
d. may be maintained by the owner's association. - Answer-d. may be
maintained by the owner's association.
,Which of the following statements about the North Carolina Timeshare
Act is FALSE?
Select one:
a. Use of a two-bedroom unit for one-week every other year for a 8 year
period would meet the definition of a timeshare.
b. A timeshare developer can be fined by the NC Real Estate Commision
for violations of the Act.
c. A purchaser of a new timeshare ownership must be given a 10-day
rescission period.
d. An active NC real estate licensee is required to sell timeshares to the
public. - Answer-FALSE
a. Use of a two-bedroom unit for one-week every other year for a 8 year
period would meet the definition of a timeshare.
The purchaser of a property in a planned unit development will usually
receive all of the following EXCEPT
Select one:
a. an interest in the unit owner's association.
b. a proprietary lease for the unit to be occupied.
c. the title to the land on which the unit is built.
d. a share in the control of the commonly owned elements. - Answer-b. a
proprietary lease for the unit to be occupied.
A trust is
,Select one:
a. an agreement to hold assets on behalf of another.
b. a document used in real estate financing.
c. a type of deed
d. a contract addenda. - Answer-a. an agreement to hold assets on behalf
of another.
A provisional broker is representing a seller of a duplex property
located on 202 Nash Street. A prospective buyer contacts the
listing agentto set up an appointment to see the home. The provisional
broker explains the Working with Real Estate Agents brochure and
theprospective buyer elects not to have representation. Which of the
following statements is FALSE
regarding this transaction?
a. The prospective buyer is not obligated to sign the Working with
Real Estate Agents brochure; however, the agent should note thedate it
was explained.
b. Upon learning that the buyer is willing to pay more for the home,
the provisional broker should not disclose the information tothe seller as
he/she is acting as a dual agent.
c. The provisional broker can write up an offer by following the
instructions of the prospective buyer.
, d. A legally binding contract will be formed once it is unconditionally
accepted and the prospective b - Answer-False statement about Working
with RE Agents brochure
b. Upon learning that the buyer is willing to pay more for the home, the
provisional broker should not disclose the information to the seller as
he/she is acting as a dual agent.
Which of the following associations is FALSE?
a. Trustor-the individual who creates the trust.
b. Trustee - the fiduciary who exercises control of the subject property.
c. Trustee - the individual who creates the trust.
d. Trustor - grantor or settler - Answer-False
c. Trustee - the individual who creates the trust.
The NC Commercial Real Estate Broker Lien
a. allows a commercial client to sue a broker for breaching fiduciary
duties.
b. gives a buyer's agent the right to sue the commercial listing agent for
compensation.
c. allows a lien to be placed on the commercial property to secure the
broker's commission.
