NC Post Licensing – 303 REAL EXAM COMPLETE QUESTIONS WITH
100% RATED CORRECT ANSWERS 2025 LATEST UPDATED 100%
(ACCURATE ) GET A+!!
A Licensee may not earn compensation when there license - VIP - (answers)is INACTIVE or
EXPIRED
A Licensee can receive compensation that was earned WHEN - VIPterm-0 - (answers)the license
was current and active even if inactive of expired after
A BIC may NOT pay a licensee's ENTITY - (answers)unless the entity has a firm license.
A Licensee can share commission心的坚强决定了我们的命运。当
with parties BUT - (answers)1) Must be in writing - as part of
the agreement
我们面对挫折时，是一颗不屈的
心让我们勇敢前行
2) Must be subject to Lender Approval in case of loans
3) Disclosed on the Closing Disclosure
4) Is considered a gift
5) Only with principal or client (not others)
Compensation ALWAYS flows through the firm - (answers)1) from the BIC
2) NO payment directly by the firm
3) Brokers MAY NOT pay brokers directly except a SOLE PROPrietorships
,When Paying Non-Affiliated Brokers or Firms - (answers)1) Best Practice to put in writing - Not
a Rule
2) May pay referral fees to brokers in any state if person has a CURRENT and ACTIVE license
3) DOCUMENTATION in broker's file:
- Written documentation regarding fee
- Proof of licensure
- Copy of a W9 for Brokerage Insurance or a 1099
When receiving Bonuses & Incentives - (answers)Disclosure AND consent by Principal is
REQUIRED
心的坚强决定了我们的命运。当
我们面对挫折时，是一颗不屈的
RESPA Prohibits - (answers)KICKBACKS to
心让我们勇敢前行
Settlement Service Providers
- BANKS
- APPRAISAL COMPANIES
- TITLE OFFICERS
- ATTORNEYS
RESPA STATUTE - (answers)Applies to:
- 1-4 units RESIDENTIAL PROPERTIES WITH A FEDERALLY RELATED LOAN
- ENFORCED BY HUD
RESPA does not apply to (VIP) - (answers)1) Vacant Land Transactions
2) Cash Transactions
, 3) Seller Financed Transactions
) Commercial Transactions
RESPA CO-OWNERSHIP with different settlement service providers - (answers)Also known as:
- Affiliated Business Arrangements (ABAs)
- Controlled Business Arrangements (CBAs)
These are permitted but 3 requirements:
心的坚强决定了我们的命运。当
1) Disclosure of the relationship 我们面对挫折时，是一颗不屈的
心让我们勇敢前行
2) Use of the service provider cannot be forced
3) must disclose fees
RESPA PROHIBITS - (answers)Real Estate Licenses from forcing client or customer to use a
particular settlement service provider
Commercial Real Estate Lien Act says - (answers)Lien May be placed on Commercial properties
for commercial service rendered in a sales or lease transaction
Commercial Real Estate Lien Requirements - (answers)1) Written Agreement specifying services
and compensation
2) Must be a listing agent to file
100% RATED CORRECT ANSWERS 2025 LATEST UPDATED 100%
(ACCURATE ) GET A+!!
A Licensee may not earn compensation when there license - VIP - (answers)is INACTIVE or
EXPIRED
A Licensee can receive compensation that was earned WHEN - VIPterm-0 - (answers)the license
was current and active even if inactive of expired after
A BIC may NOT pay a licensee's ENTITY - (answers)unless the entity has a firm license.
A Licensee can share commission心的坚强决定了我们的命运。当
with parties BUT - (answers)1) Must be in writing - as part of
the agreement
我们面对挫折时，是一颗不屈的
心让我们勇敢前行
2) Must be subject to Lender Approval in case of loans
3) Disclosed on the Closing Disclosure
4) Is considered a gift
5) Only with principal or client (not others)
Compensation ALWAYS flows through the firm - (answers)1) from the BIC
2) NO payment directly by the firm
3) Brokers MAY NOT pay brokers directly except a SOLE PROPrietorships
,When Paying Non-Affiliated Brokers or Firms - (answers)1) Best Practice to put in writing - Not
a Rule
2) May pay referral fees to brokers in any state if person has a CURRENT and ACTIVE license
3) DOCUMENTATION in broker's file:
- Written documentation regarding fee
- Proof of licensure
- Copy of a W9 for Brokerage Insurance or a 1099
When receiving Bonuses & Incentives - (answers)Disclosure AND consent by Principal is
REQUIRED
心的坚强决定了我们的命运。当
我们面对挫折时，是一颗不屈的
RESPA Prohibits - (answers)KICKBACKS to
心让我们勇敢前行
Settlement Service Providers
- BANKS
- APPRAISAL COMPANIES
- TITLE OFFICERS
- ATTORNEYS
RESPA STATUTE - (answers)Applies to:
- 1-4 units RESIDENTIAL PROPERTIES WITH A FEDERALLY RELATED LOAN
- ENFORCED BY HUD
RESPA does not apply to (VIP) - (answers)1) Vacant Land Transactions
2) Cash Transactions
, 3) Seller Financed Transactions
) Commercial Transactions
RESPA CO-OWNERSHIP with different settlement service providers - (answers)Also known as:
- Affiliated Business Arrangements (ABAs)
- Controlled Business Arrangements (CBAs)
These are permitted but 3 requirements:
心的坚强决定了我们的命运。当
1) Disclosure of the relationship 我们面对挫折时，是一颗不屈的
心让我们勇敢前行
2) Use of the service provider cannot be forced
3) must disclose fees
RESPA PROHIBITS - (answers)Real Estate Licenses from forcing client or customer to use a
particular settlement service provider
Commercial Real Estate Lien Act says - (answers)Lien May be placed on Commercial properties
for commercial service rendered in a sales or lease transaction
Commercial Real Estate Lien Requirements - (answers)1) Written Agreement specifying services
and compensation
2) Must be a listing agent to file
