NC Real Estate Exam Questions
Study online at https://quizlet.com/_8p3abn
1. Which statute governs the ad valorem taxation of property?
A. Machinery Act
B. General Statute
C. The Ad Valorem Act
D. Real Estate Taxation Act: A. Machinery Act
This act provides a framework for listing, appraising, and assessing real and person-
al property
2. Which type of valuation technique applies a standard percentage increase
or decrease to all property in a specified location?
A. Valuation
B. County appraisal
C. Mass appraisal
D. There is no such appraisal: C. Mass Appraisal
This is a valuation technique that is sometimes used for tax assessment purposes.
It is also referred to as a horizontal adjustment.
3. What is am octennial reappraisal?
A. Grouping reappraisals by square footage and year built
B. The statutory reappraisal of all real property in North Carolina for tax
purposes
C. Reappraisals done in groups of eight
D. None of the above: B. The statutory reappraisal of all real property in North
Carolina for tax purposes.
This is an octennial reappraisal and requires all counties to reappraise property
within in a specified time period.
4. The ______ is responsible for real estate licensing.
A. Federal Real Estate Commission
B. Housing and Urban Development
C. North Carolina Real Estate Commission (NCREC)
D. County Clerks Office: C. North Carolina Real Estate Commission (NCREC)
This commission is responsible for real estate licensees, education, and other
resources regarding real estate in the state of North Carolina.
, NC Real Estate Exam Questions
Study online at https://quizlet.com/_8p3abn
5. Which type of lien provides security to persons that work on real property
owned by others?
A. Mortgage lien
B. Mechanic's lien
C. Real estate tax lien
D. State income tax lien: B) Mechanic's lien
This type of lien is typically used to guarantee of payment to builders, contractors,
and construction firms
6. Which of the following is a requirement to become a real estate broker in
North Carolina?
A. 18 years of age
B. 90 hours of real estate courses
C. Payment of an application fee
D. All of the above: D) All of the above
All of the above are requirements to become a real estate agent in North Carolina.
The real estate courses must be approved and in a classroom setting.
7. Which type of broker licence status category is "entry level" and requires
supervision?
A. Provisional broker
B. Broker in charge
C.Broker
D. There is no such license status category: A) Provisional broker
This is an entry level license status and only requires 75 hours of pre-licensing
education and passing of the license examination
8. Which statement is true about the North Carolina Real Estate Commission?
A. There are a not-for-profit firm that manages real estate agents
B. They are responsible for overseeing the licensing and regulating of real
estate agents in North Carolina
C. They are a private agency created to protect the real estate industry in the
state of North Carolina
D. None of the above: B) They are responsible for overseeing the licensing and
regulating of real estate agents in North Carolina
Study online at https://quizlet.com/_8p3abn
1. Which statute governs the ad valorem taxation of property?
A. Machinery Act
B. General Statute
C. The Ad Valorem Act
D. Real Estate Taxation Act: A. Machinery Act
This act provides a framework for listing, appraising, and assessing real and person-
al property
2. Which type of valuation technique applies a standard percentage increase
or decrease to all property in a specified location?
A. Valuation
B. County appraisal
C. Mass appraisal
D. There is no such appraisal: C. Mass Appraisal
This is a valuation technique that is sometimes used for tax assessment purposes.
It is also referred to as a horizontal adjustment.
3. What is am octennial reappraisal?
A. Grouping reappraisals by square footage and year built
B. The statutory reappraisal of all real property in North Carolina for tax
purposes
C. Reappraisals done in groups of eight
D. None of the above: B. The statutory reappraisal of all real property in North
Carolina for tax purposes.
This is an octennial reappraisal and requires all counties to reappraise property
within in a specified time period.
4. The ______ is responsible for real estate licensing.
A. Federal Real Estate Commission
B. Housing and Urban Development
C. North Carolina Real Estate Commission (NCREC)
D. County Clerks Office: C. North Carolina Real Estate Commission (NCREC)
This commission is responsible for real estate licensees, education, and other
resources regarding real estate in the state of North Carolina.
, NC Real Estate Exam Questions
Study online at https://quizlet.com/_8p3abn
5. Which type of lien provides security to persons that work on real property
owned by others?
A. Mortgage lien
B. Mechanic's lien
C. Real estate tax lien
D. State income tax lien: B) Mechanic's lien
This type of lien is typically used to guarantee of payment to builders, contractors,
and construction firms
6. Which of the following is a requirement to become a real estate broker in
North Carolina?
A. 18 years of age
B. 90 hours of real estate courses
C. Payment of an application fee
D. All of the above: D) All of the above
All of the above are requirements to become a real estate agent in North Carolina.
The real estate courses must be approved and in a classroom setting.
7. Which type of broker licence status category is "entry level" and requires
supervision?
A. Provisional broker
B. Broker in charge
C.Broker
D. There is no such license status category: A) Provisional broker
This is an entry level license status and only requires 75 hours of pre-licensing
education and passing of the license examination
8. Which statement is true about the North Carolina Real Estate Commission?
A. There are a not-for-profit firm that manages real estate agents
B. They are responsible for overseeing the licensing and regulating of real
estate agents in North Carolina
C. They are a private agency created to protect the real estate industry in the
state of North Carolina
D. None of the above: B) They are responsible for overseeing the licensing and
regulating of real estate agents in North Carolina
