NC 303 POST LICENSING EXAM BANK (2 VERSIONS)
u u u u u u u
| 2025 COMPLETE ACCURATE REAL EXAM 340+ QU
u u u u u u u
ESTIONS WITH DETAILED ANSWERS | ALREADYGRA u u u u u u
DED A+ | GUARANTEED EXCELLENCE PASS u u u u u
Simone is a North Carolina broker who has been approached by non-
u u u u u u u u u u u
MLS brokermember Ash regarding one of Simone's MLS listings. Before Simone c
u u u u u u u u u u u u
an agree topay Ash a portion of the compensation derived from the transaction in
u u u u u u u u u u u u u u
question,what should she put in place? -
u u u u u u u u
✔✔✔ Correct Answer > A cooperation agreement with Ash
u u u u u u u u u
Which of the following situations would NOT require a North Carolina licensee to n
u u u u u u u u u u u u u
otify NCREC? - u u
✔✔✔ Correct Answer > The licensee takes out a sizable personalloan to complet
u u u u u u u u u u u u u u
e some office renovations.
u u u
Condominiums built during or after 1987 are regulated by u u u u u u u u .-
u
✔✔✔ CorrectAnswer > The North Carolina Condominium Act
u u u u u u u u u
In North Carolina, the Vacation Rental Act provides what kind of exception regardi
u u u u u u u u u u u u
ng compensation for real estate brokerage activities? -
u u u u u u u
u✔✔✔ Correct Answer > Under this act, a travel agent who does not hold an activ
u u u u u u u u u u u u u u u
e real estate license may accept a referral fee for referring a tenant to a broker fo
u u u u u u u u u u u u u u u u
r a vacationrental if certain provisions are met.
u u u u u u u u
,Which one of the following people would be exempt from the real estate licensure
u u u u u u u u u u u u u
requirement in North Carolina? -
u u u u u
✔✔✔ Correct Answer > An attorneywho's selling a property for a client, for com
u u u u u u u u u u u u u u u
pensation, using a power of attorney u u u u u
According to the EPA, at what level does radon become a health concern requirin
u u u u u u u u u u u u u
g mitigation? - ✔✔✔ Correct Answer > 4.0 picocuries per liter of air
u u u u u u u u u u u u
Jessica is a timeshare interest purchaser who noticed that the public offering stat
u u u u u u u u u u u u
ement includes a statement that she has a right to cancel the purchase contract
u u u u u u u u u u u u u u
within a certain number of days after executing the purchase contract.This cance
u u u u u u u u u u u u
llation statement is known as the purchaser's
u .- u u u u u u
✔✔✔ CorrectAnswer > Right to cancel
u u u u u u u
Tenant A is leasing commercial property from the landlord. Tenant A then subletst
u u u u u u u u u u u u u
o Tenant B. Which of the following parties have a sandwich lease? -
u u u u u u u u u u u u
✔✔✔ Correct Answer > The original tenant and the landlord
u u u u u u u u u u
Mike relocated for work and learned that the region in which he planned to buy ah
u u u u u u u u u u u u u u u u
ome had many old underground mines. In fact, Mike might even need to purchase
u u u u u u u u u u u u u u
mine subsidence insurance. What might a home inspector flag for Mike if there ar
u u u u u u u u u u u u u
e any concerns about undermining? -
u u u u u
✔✔✔ Correct Answer > A sinkhole on the property
u u u u u u u u u
An underground storage tank has been in place for 15 years. What is its remainingu
u u u u u u u u u u u u u u u
seful life, on average? - ✔✔✔ Correct Answer > Zero years
u u u u u u u u u u
,Which of the following is described as an area that is protected by the Clean
u u u u u u u u u u u u u u u
Water Act where standing water that supports aquatic plants and animals isl
u u u u u u u u u u u u
ocated and groundwater is filtered? - ✔✔✔ Correct Answer > Wetland
u u u u u u u u u u
Before becoming a broker-in-charge, a North Carolina broker must first apply for
u u u u u u u u u u u
u with the NCREC. - ✔✔✔ Correct Answer > Eligibility
u u u u u u u u
Dave is an employee of a housing authority in his North Carolina county. He's been
u u u u u u u u u u u u u u u
asked to lease one of the properties that the housing authority owns to a new tena
u u u u u u u u u u u u u u u
nt. Does Dave need a real estate license for this? - ✔✔✔ Correct Answer
u u u u u u u u u u u u u
> No. Dave qualifies for the housing authority exemption wherein an employee i
u u u u u u u u u u u
s permitted to sell or lease properties that are owned by the housing authority.
u u u u u u u u u u u u u
It's fine for a personal assistant to answer a buyer's questions related to contractt
u u u u u u u u u u u u u u
erms if the personal assistant
u u u u . - ✔✔✔ Correct Answer > Is licensed
u u u u u u u
Which of the following is NOT a measure a developer must take to prevent sedim
u u u u u u u u u u u u u u
entation? - ✔✔✔ Correct Answer > Deep rooting trees along shoreline
u u u u u u u u u u
Randall's clients, Carma and Trent, are looking for a mountain cabin. They tell Rand
u u u u u u u u u u u u u
all they'll pay him a $2,000 finder's fee if he finds the cabin that checks all of their b
u u u u u u u u u u u u u u u u u u
oxes, and they close on it. Randall finds a likely candidate that's an FSBO, and negot
u u u u u u u u u u u u u u u
iations begin. What circumstance is required for Randall to receive the finder's fee
u u u u u u u u u u u u
?- u
✔✔✔ Correct Answer > Carma and Trent must pay the finder's feeto Randall's br
u u u u u u u u u u u u u u u
oker
, Which of the following would NOT be considered a violation of license law? -
u u u u u u u u u u u u u
✔✔✔ Correct Answer > A timeshare salesperson who also has a legal licenseperf
u u u u u u u u u u u u u
orming legal services u u
Which of the following best describes a tenant's right to quiet enjoyment? -
u u u u u u u u u u u u
✔✔✔Correct Answer > A tenant has the right to enjoy lawful use of the property
u u u u u u u u u u u u u u u u
without being dispossessed or trespassed upon, even by the landlord.
u u u u u u u u u u
Ricky Nubbins is three months behind in his rent and has received several reminder
u u u u u u u u u u u u u
s from the landlord that the rent is past due. As a result, the landlord hasbegun wor
u u u u u u u u u u u u u u u u u
king through proper channels to legally end Ricky's lease before the contract end d
u u u u u u u u u u u u u
ate. The landlord is terminating his lease through
u u .- u u u u u u
✔✔✔ Correct Answer > Eviction
u u u u u
What does "No Representation" mean on a North Carolina property disclosuref
u u u u u u u u u u u
orm? - u
u✔✔✔ Correct Answer > The seller is choosing not to disclose certain informat
u u u u u u u u u u u u
ion.
Devin, a homebuilder, was caught dumping a load of rubble in an area designateda
u u u u u u u u u u u u u u
s wetlands. "But I wasn't building anything," he explained. "I wasn't involved in any
u u u u u u u u u u u u u u
development when I dumped the dirt there." Was his dumping a legal act? -
u u u u u u u u u u u u u
✔✔✔ Correct Answer > No, because dumping material in a wetland is one of theac
u u u u u u u u u u u u u u u
tivities that isn't allowed without a permit.
u u u u u u
In order for North Carolina broker Meredith to accept compensation from a homei
u u u u u u u u u u u u u
nspector for referring a client, what must she disclose to the relevant transactionp
u u u u u u u u u u u u u
arties? - u
✔✔✔ Correct Answer > The name of the inspection company and the type and a
u u u u u u u u u u u u u u u
mount of the compensation
u u u
u u u u u u u
| 2025 COMPLETE ACCURATE REAL EXAM 340+ QU
u u u u u u u
ESTIONS WITH DETAILED ANSWERS | ALREADYGRA u u u u u u
DED A+ | GUARANTEED EXCELLENCE PASS u u u u u
Simone is a North Carolina broker who has been approached by non-
u u u u u u u u u u u
MLS brokermember Ash regarding one of Simone's MLS listings. Before Simone c
u u u u u u u u u u u u
an agree topay Ash a portion of the compensation derived from the transaction in
u u u u u u u u u u u u u u
question,what should she put in place? -
u u u u u u u u
✔✔✔ Correct Answer > A cooperation agreement with Ash
u u u u u u u u u
Which of the following situations would NOT require a North Carolina licensee to n
u u u u u u u u u u u u u
otify NCREC? - u u
✔✔✔ Correct Answer > The licensee takes out a sizable personalloan to complet
u u u u u u u u u u u u u u
e some office renovations.
u u u
Condominiums built during or after 1987 are regulated by u u u u u u u u .-
u
✔✔✔ CorrectAnswer > The North Carolina Condominium Act
u u u u u u u u u
In North Carolina, the Vacation Rental Act provides what kind of exception regardi
u u u u u u u u u u u u
ng compensation for real estate brokerage activities? -
u u u u u u u
u✔✔✔ Correct Answer > Under this act, a travel agent who does not hold an activ
u u u u u u u u u u u u u u u
e real estate license may accept a referral fee for referring a tenant to a broker fo
u u u u u u u u u u u u u u u u
r a vacationrental if certain provisions are met.
u u u u u u u u
,Which one of the following people would be exempt from the real estate licensure
u u u u u u u u u u u u u
requirement in North Carolina? -
u u u u u
✔✔✔ Correct Answer > An attorneywho's selling a property for a client, for com
u u u u u u u u u u u u u u u
pensation, using a power of attorney u u u u u
According to the EPA, at what level does radon become a health concern requirin
u u u u u u u u u u u u u
g mitigation? - ✔✔✔ Correct Answer > 4.0 picocuries per liter of air
u u u u u u u u u u u u
Jessica is a timeshare interest purchaser who noticed that the public offering stat
u u u u u u u u u u u u
ement includes a statement that she has a right to cancel the purchase contract
u u u u u u u u u u u u u u
within a certain number of days after executing the purchase contract.This cance
u u u u u u u u u u u u
llation statement is known as the purchaser's
u .- u u u u u u
✔✔✔ CorrectAnswer > Right to cancel
u u u u u u u
Tenant A is leasing commercial property from the landlord. Tenant A then subletst
u u u u u u u u u u u u u
o Tenant B. Which of the following parties have a sandwich lease? -
u u u u u u u u u u u u
✔✔✔ Correct Answer > The original tenant and the landlord
u u u u u u u u u u
Mike relocated for work and learned that the region in which he planned to buy ah
u u u u u u u u u u u u u u u u
ome had many old underground mines. In fact, Mike might even need to purchase
u u u u u u u u u u u u u u
mine subsidence insurance. What might a home inspector flag for Mike if there ar
u u u u u u u u u u u u u
e any concerns about undermining? -
u u u u u
✔✔✔ Correct Answer > A sinkhole on the property
u u u u u u u u u
An underground storage tank has been in place for 15 years. What is its remainingu
u u u u u u u u u u u u u u u
seful life, on average? - ✔✔✔ Correct Answer > Zero years
u u u u u u u u u u
,Which of the following is described as an area that is protected by the Clean
u u u u u u u u u u u u u u u
Water Act where standing water that supports aquatic plants and animals isl
u u u u u u u u u u u u
ocated and groundwater is filtered? - ✔✔✔ Correct Answer > Wetland
u u u u u u u u u u
Before becoming a broker-in-charge, a North Carolina broker must first apply for
u u u u u u u u u u u
u with the NCREC. - ✔✔✔ Correct Answer > Eligibility
u u u u u u u u
Dave is an employee of a housing authority in his North Carolina county. He's been
u u u u u u u u u u u u u u u
asked to lease one of the properties that the housing authority owns to a new tena
u u u u u u u u u u u u u u u
nt. Does Dave need a real estate license for this? - ✔✔✔ Correct Answer
u u u u u u u u u u u u u
> No. Dave qualifies for the housing authority exemption wherein an employee i
u u u u u u u u u u u
s permitted to sell or lease properties that are owned by the housing authority.
u u u u u u u u u u u u u
It's fine for a personal assistant to answer a buyer's questions related to contractt
u u u u u u u u u u u u u u
erms if the personal assistant
u u u u . - ✔✔✔ Correct Answer > Is licensed
u u u u u u u
Which of the following is NOT a measure a developer must take to prevent sedim
u u u u u u u u u u u u u u
entation? - ✔✔✔ Correct Answer > Deep rooting trees along shoreline
u u u u u u u u u u
Randall's clients, Carma and Trent, are looking for a mountain cabin. They tell Rand
u u u u u u u u u u u u u
all they'll pay him a $2,000 finder's fee if he finds the cabin that checks all of their b
u u u u u u u u u u u u u u u u u u
oxes, and they close on it. Randall finds a likely candidate that's an FSBO, and negot
u u u u u u u u u u u u u u u
iations begin. What circumstance is required for Randall to receive the finder's fee
u u u u u u u u u u u u
?- u
✔✔✔ Correct Answer > Carma and Trent must pay the finder's feeto Randall's br
u u u u u u u u u u u u u u u
oker
, Which of the following would NOT be considered a violation of license law? -
u u u u u u u u u u u u u
✔✔✔ Correct Answer > A timeshare salesperson who also has a legal licenseperf
u u u u u u u u u u u u u
orming legal services u u
Which of the following best describes a tenant's right to quiet enjoyment? -
u u u u u u u u u u u u
✔✔✔Correct Answer > A tenant has the right to enjoy lawful use of the property
u u u u u u u u u u u u u u u u
without being dispossessed or trespassed upon, even by the landlord.
u u u u u u u u u u
Ricky Nubbins is three months behind in his rent and has received several reminder
u u u u u u u u u u u u u
s from the landlord that the rent is past due. As a result, the landlord hasbegun wor
u u u u u u u u u u u u u u u u u
king through proper channels to legally end Ricky's lease before the contract end d
u u u u u u u u u u u u u
ate. The landlord is terminating his lease through
u u .- u u u u u u
✔✔✔ Correct Answer > Eviction
u u u u u
What does "No Representation" mean on a North Carolina property disclosuref
u u u u u u u u u u u
orm? - u
u✔✔✔ Correct Answer > The seller is choosing not to disclose certain informat
u u u u u u u u u u u u
ion.
Devin, a homebuilder, was caught dumping a load of rubble in an area designateda
u u u u u u u u u u u u u u
s wetlands. "But I wasn't building anything," he explained. "I wasn't involved in any
u u u u u u u u u u u u u u
development when I dumped the dirt there." Was his dumping a legal act? -
u u u u u u u u u u u u u
✔✔✔ Correct Answer > No, because dumping material in a wetland is one of theac
u u u u u u u u u u u u u u u
tivities that isn't allowed without a permit.
u u u u u u
In order for North Carolina broker Meredith to accept compensation from a homei
u u u u u u u u u u u u u
nspector for referring a client, what must she disclose to the relevant transactionp
u u u u u u u u u u u u u
arties? - u
✔✔✔ Correct Answer > The name of the inspection company and the type and a
u u u u u u u u u u u u u u u
mount of the compensation
u u u
