Superior Real Estate School Exam Latest Update
2025-2026 Exam 175 Questions with 100%
Verified Correct Answers Guaranteed A+
A broker has received an offer from a prospective buyer on a property that the broker
has listed for sale. How long does the broker have to deliver the offer to their
seller/client?
A. Immediately, but never later than 5 banking days
B. Immediately, but never later than 5 calendar days
C. Immediately, but never later than 3 banking days
D. Immediately, but never later than 3 calendar days - CORRECT ANSWER: D.
Immediately, but never later than 3 calendar days
A brother and sister bought a commercial building and took title as joint tenants with
right of survivorship. The brother died. The sister now owns the building:
A. as a joint tenant with right of survivorship with her brother's heirs
B. in severalty
C. as a tenant in common with her brother's heirs
D. as a life tenant with her brother's heirs having remainder interests - CORRECT
ANSWER: B. in severalty
A building is valued at $215,000 and contains four apartments that rent for $470 each
per month. The owner estimates that the net operating income is 65% of the gross
rental receipts. What is the capitalization rate?
A. 3.7%
B. 6.8%
C. 10.5%
,D. 14.2% - CORRECT ANSWER: B. 6.8%
A businessman agrees to lease a barber shop from a landlord. The party responsible for
the expense of making repairs to the interior of the building would most likely be:
A. shared equally by the landlord and the tenant
B. determined by negotiation of the parties per the lease agreement
C. the landlord under the NC Residential Rental Agreements Act
D. the tenant - CORRECT ANSWER: B. determined by negotiation of the parties per the
lease agreement
A buyer and seller enter into a contract. The seller backs out and the buyer sues for
specific performance. What is the buyer seeking in this lawsuit?
A. A new contract
B. Transfer of the property
C. Deficiency judgment
D. Money damages - CORRECT ANSWER: B. Transfer of the property
A buyer-client has instructed the agent to show only properties where the seller is willing
to pay the buyer agent's commission. The agent contacts an owner selling a property
without the assistance of a real estate agent with the hope that the seller would be
willing to pay her commission if the buyer decided to purchase the seller's property. In
order to comply with North Carolina Real Estate Commission Rules, the agent must do
all of the following, EXCEPT:
A. obtain permission from her buyer-client in order to obtain compensation from the
seller
B. disclose her agency status to the seller at initial contact
C. convince the seller to list with her and authorize dual agency
D. provide the Working with Real Estate Agents brochure to the seller - CORRECT
ANSWER: C. convince the seller to list with her and authorize dual agency
,A buyer's representative is required to reveal their agency status to the seller or listing
agent:
A. no later than time of offer
B. at "initial contact"
C. no later than contract
D. at "first substantial contact" - CORRECT ANSWER: B. at "initial contact"
A city evicts tenants of an apartment complex by the power of eminent domain because
of a planned highway expansion. Does the city have to pay compensation and does the
city have to let the tenants finish their lease terms?
A. The city would have to allow the tenants to complete their lease term and must pay
them compensation.
B. The city may never condemn an apartment building or other facility that is currently
occupied.
C. The city does not have to allow the tenants to complete their lease term, but the city
will have to compensate the tenants.
D. The city does not have to allow the tenants to finish their lease terms an because
they are not the owner of the apartment building, the tenants have no right to
compensation. - CORRECT ANSWER: C. The city does not have to allow the tenants to
complete their lease term, but the city will have to compensate the tenants.
A contract that binds the owner of real estate to hold an offer to sell open for a set
period of time, and gives the buyer the legal right to either accept or withdraw is a(n):
A. right of first refusal
B. option to purchase contract
C. backup offer
D. installment land contract - CORRECT ANSWER: B. option to purchase contract
, A corporation selling its own properties through the actions of its own salaried W2
employees:
A. is not required to have a firm license, but may not use its own employees
B. can use its own unlicensed employees, but must have a firm license
C. needs neither a firm license nor do its employees need to be licensed
D. need not have a license, but must affiliate with an NC broker-in-charge - CORRECT
ANSWER: C. needs neither a firm license nor do its employees need to be licensed
A deed conveyed ownership to a grantee "so long as the existing building on the
property is not destroyed." Following the transfer, the original grantor has what type of
interest?
A. Life Estate
B. ongoing ownership in the property that lasts as long as the condition
C. Fee Simple Estate
D. Reversionary Estate - CORRECT ANSWER: D. Reversionary Estate
A developer requires all builders within the subdivision to build a certain standard home
and also requires that no home may be built smaller than 4,000 square feet. What type
of restriction has the developer created and how may it be enforced?
A. Building permits, enforced through the city or county in which the property is located.
B. Private deed restrictions, enforced through a court of law.
C. Building codes, enforced through state and city building councils.
D. Zoning, enforced through the zoning board. - CORRECT ANSWER: B. Private deed
restrictions, enforced through a court of law.
A disclosure of agency status should be made by a buyer's agent to the seller: l. With a
written confirmation in the offer to purchase and contract ll. At the initial contact with the
seller's agent, orally or in writing
2025-2026 Exam 175 Questions with 100%
Verified Correct Answers Guaranteed A+
A broker has received an offer from a prospective buyer on a property that the broker
has listed for sale. How long does the broker have to deliver the offer to their
seller/client?
A. Immediately, but never later than 5 banking days
B. Immediately, but never later than 5 calendar days
C. Immediately, but never later than 3 banking days
D. Immediately, but never later than 3 calendar days - CORRECT ANSWER: D.
Immediately, but never later than 3 calendar days
A brother and sister bought a commercial building and took title as joint tenants with
right of survivorship. The brother died. The sister now owns the building:
A. as a joint tenant with right of survivorship with her brother's heirs
B. in severalty
C. as a tenant in common with her brother's heirs
D. as a life tenant with her brother's heirs having remainder interests - CORRECT
ANSWER: B. in severalty
A building is valued at $215,000 and contains four apartments that rent for $470 each
per month. The owner estimates that the net operating income is 65% of the gross
rental receipts. What is the capitalization rate?
A. 3.7%
B. 6.8%
C. 10.5%
,D. 14.2% - CORRECT ANSWER: B. 6.8%
A businessman agrees to lease a barber shop from a landlord. The party responsible for
the expense of making repairs to the interior of the building would most likely be:
A. shared equally by the landlord and the tenant
B. determined by negotiation of the parties per the lease agreement
C. the landlord under the NC Residential Rental Agreements Act
D. the tenant - CORRECT ANSWER: B. determined by negotiation of the parties per the
lease agreement
A buyer and seller enter into a contract. The seller backs out and the buyer sues for
specific performance. What is the buyer seeking in this lawsuit?
A. A new contract
B. Transfer of the property
C. Deficiency judgment
D. Money damages - CORRECT ANSWER: B. Transfer of the property
A buyer-client has instructed the agent to show only properties where the seller is willing
to pay the buyer agent's commission. The agent contacts an owner selling a property
without the assistance of a real estate agent with the hope that the seller would be
willing to pay her commission if the buyer decided to purchase the seller's property. In
order to comply with North Carolina Real Estate Commission Rules, the agent must do
all of the following, EXCEPT:
A. obtain permission from her buyer-client in order to obtain compensation from the
seller
B. disclose her agency status to the seller at initial contact
C. convince the seller to list with her and authorize dual agency
D. provide the Working with Real Estate Agents brochure to the seller - CORRECT
ANSWER: C. convince the seller to list with her and authorize dual agency
,A buyer's representative is required to reveal their agency status to the seller or listing
agent:
A. no later than time of offer
B. at "initial contact"
C. no later than contract
D. at "first substantial contact" - CORRECT ANSWER: B. at "initial contact"
A city evicts tenants of an apartment complex by the power of eminent domain because
of a planned highway expansion. Does the city have to pay compensation and does the
city have to let the tenants finish their lease terms?
A. The city would have to allow the tenants to complete their lease term and must pay
them compensation.
B. The city may never condemn an apartment building or other facility that is currently
occupied.
C. The city does not have to allow the tenants to complete their lease term, but the city
will have to compensate the tenants.
D. The city does not have to allow the tenants to finish their lease terms an because
they are not the owner of the apartment building, the tenants have no right to
compensation. - CORRECT ANSWER: C. The city does not have to allow the tenants to
complete their lease term, but the city will have to compensate the tenants.
A contract that binds the owner of real estate to hold an offer to sell open for a set
period of time, and gives the buyer the legal right to either accept or withdraw is a(n):
A. right of first refusal
B. option to purchase contract
C. backup offer
D. installment land contract - CORRECT ANSWER: B. option to purchase contract
, A corporation selling its own properties through the actions of its own salaried W2
employees:
A. is not required to have a firm license, but may not use its own employees
B. can use its own unlicensed employees, but must have a firm license
C. needs neither a firm license nor do its employees need to be licensed
D. need not have a license, but must affiliate with an NC broker-in-charge - CORRECT
ANSWER: C. needs neither a firm license nor do its employees need to be licensed
A deed conveyed ownership to a grantee "so long as the existing building on the
property is not destroyed." Following the transfer, the original grantor has what type of
interest?
A. Life Estate
B. ongoing ownership in the property that lasts as long as the condition
C. Fee Simple Estate
D. Reversionary Estate - CORRECT ANSWER: D. Reversionary Estate
A developer requires all builders within the subdivision to build a certain standard home
and also requires that no home may be built smaller than 4,000 square feet. What type
of restriction has the developer created and how may it be enforced?
A. Building permits, enforced through the city or county in which the property is located.
B. Private deed restrictions, enforced through a court of law.
C. Building codes, enforced through state and city building councils.
D. Zoning, enforced through the zoning board. - CORRECT ANSWER: B. Private deed
restrictions, enforced through a court of law.
A disclosure of agency status should be made by a buyer's agent to the seller: l. With a
written confirmation in the offer to purchase and contract ll. At the initial contact with the
seller's agent, orally or in writing
