NC 303 POST LICENSING EXAM BANK (2 VERSIONS)
| 2025 COMPLETE ACCURATE REAL EXAM 340+
QUESTIONS WITH DETAILED ANSWERS | ALREADY
GRADED A+ | GUARANTEED EXCELLENCE PASS
Simone is a North Carolina broker who has been approached by non-MLS broker
member Ash regarding one of Simone's MLS listings. Before Simone can agree to
pay Ash a portion of the compensation derived from the transaction in question,
what should she put in place? - ✔✔✔ Correct Answer > A cooperation
agreement with Ash
Which of the following situations would NOT require a North Carolina licensee to
notify NCREC? - ✔✔✔ Correct Answer > The licensee takes out a sizable personal
loan to complete some office renovations.
Condominiums built during or after 1987 are regulated by ______. - ✔✔✔ Correct
Answer > The North Carolina Condominium Act
In North Carolina, the Vacation Rental Act provides what kind of exception
regarding compensation for real estate brokerage activities? - ✔✔✔ Correct
Answer > Under this act, a travel agent who does not hold an active real estate
license may accept a referral fee for referring a tenant to a broker for a vacation
rental if certain provisions are met.
,Which one of the following people would be exempt from the real estate
licensure requirement in North Carolina? - ✔✔✔ Correct Answer > An attorney
who's selling a property for a client, for compensation, using a power of
attorney
According to the EPA, at what level does radon become a health concern
requiring mitigation? - ✔✔✔ Correct Answer > 4.0 picocuries per liter of air
Jessica is a timeshare interest purchaser who noticed that the public offering
statement includes a statement that she has a right to cancel the purchase
contract within a certain number of days after executing the purchase contract.
This cancellation statement is known as the purchaser's ______. - ✔✔✔ Correct
Answer > Right to cancel
Tenant A is leasing commercial property from the landlord. Tenant A then sublets
to Tenant B. Which of the following parties have a sandwich lease? - ✔✔✔
Correct Answer > The original tenant and the landlord
Mike relocated for work and learned that the region in which he planned to buy a
home had many old underground mines. In fact, Mike might even need to
purchase mine subsidence insurance. What might a home inspector flag for Mike
if there are any concerns about undermining? - ✔✔✔ Correct Answer > A
sinkhole on the property
An underground storage tank has been in place for 15 years. What is its remaining
useful life, on average? - ✔✔✔ Correct Answer > Zero years
,Which of the following is described as an area that is protected by the Clean
Water Act where standing water that supports aquatic plants and animals is
located and groundwater is filtered? - ✔✔✔ Correct Answer > Wetland
Before becoming a broker-in-charge, a North Carolina broker must first apply for
_______ with the NCREC. - ✔✔✔ Correct Answer > Eligibility
Dave is an employee of a housing authority in his North Carolina county. He's
been asked to lease one of the properties that the housing authority owns to a
new tenant. Does Dave need a real estate license for this? - ✔✔✔ Correct Answer
> No. Dave qualifies for the housing authority exemption wherein an employee
is permitted to sell or lease properties that are owned by the housing authority.
It's fine for a personal assistant to answer a buyer's questions related to contract
terms if the personal assistant ______. - ✔✔✔ Correct Answer > Is licensed
Which of the following is NOT a measure a developer must take to prevent
sedimentation? - ✔✔✔ Correct Answer > Deep rooting trees along shoreline
Randall's clients, Carma and Trent, are looking for a mountain cabin. They tell
Randall they'll pay him a $2,000 finder's fee if he finds the cabin that checks all of
their boxes, and they close on it. Randall finds a likely candidate that's an FSBO,
and negotiations begin. What circumstance is required for Randall to receive the
finder's fee? - ✔✔✔ Correct Answer > Carma and Trent must pay the finder's fee
to Randall's broker
, Which of the following would NOT be considered a violation of license law? -
✔✔✔ Correct Answer > A timeshare salesperson who also has a legal license
performing legal services
Which of the following best describes a tenant's right to quiet enjoyment? - ✔✔✔
Correct Answer > A tenant has the right to enjoy lawful use of the property
without being dispossessed or trespassed upon, even by the landlord.
Ricky Nubbins is three months behind in his rent and has received several
reminders from the landlord that the rent is past due. As a result, the landlord has
begun working through proper channels to legally end Ricky's lease before the
contract end date. The landlord is terminating his lease through ______. - ✔✔✔
Correct Answer > Eviction
What does "No Representation" mean on a North Carolina property disclosure
form? - ✔✔✔ Correct Answer > The seller is choosing not to disclose certain
information.
Devin, a homebuilder, was caught dumping a load of rubble in an area designated
as wetlands. "But I wasn't building anything," he explained. "I wasn't involved in
any development when I dumped the dirt there." Was his dumping a legal act? -
✔✔✔ Correct Answer > No, because dumping material in a wetland is one of the
activities that isn't allowed without a permit.
In order for North Carolina broker Meredith to accept compensation from a home
inspector for referring a client, what must she disclose to the relevant transaction
parties? - ✔✔✔ Correct Answer > The name of the inspection company and the
type and amount of the compensation
| 2025 COMPLETE ACCURATE REAL EXAM 340+
QUESTIONS WITH DETAILED ANSWERS | ALREADY
GRADED A+ | GUARANTEED EXCELLENCE PASS
Simone is a North Carolina broker who has been approached by non-MLS broker
member Ash regarding one of Simone's MLS listings. Before Simone can agree to
pay Ash a portion of the compensation derived from the transaction in question,
what should she put in place? - ✔✔✔ Correct Answer > A cooperation
agreement with Ash
Which of the following situations would NOT require a North Carolina licensee to
notify NCREC? - ✔✔✔ Correct Answer > The licensee takes out a sizable personal
loan to complete some office renovations.
Condominiums built during or after 1987 are regulated by ______. - ✔✔✔ Correct
Answer > The North Carolina Condominium Act
In North Carolina, the Vacation Rental Act provides what kind of exception
regarding compensation for real estate brokerage activities? - ✔✔✔ Correct
Answer > Under this act, a travel agent who does not hold an active real estate
license may accept a referral fee for referring a tenant to a broker for a vacation
rental if certain provisions are met.
,Which one of the following people would be exempt from the real estate
licensure requirement in North Carolina? - ✔✔✔ Correct Answer > An attorney
who's selling a property for a client, for compensation, using a power of
attorney
According to the EPA, at what level does radon become a health concern
requiring mitigation? - ✔✔✔ Correct Answer > 4.0 picocuries per liter of air
Jessica is a timeshare interest purchaser who noticed that the public offering
statement includes a statement that she has a right to cancel the purchase
contract within a certain number of days after executing the purchase contract.
This cancellation statement is known as the purchaser's ______. - ✔✔✔ Correct
Answer > Right to cancel
Tenant A is leasing commercial property from the landlord. Tenant A then sublets
to Tenant B. Which of the following parties have a sandwich lease? - ✔✔✔
Correct Answer > The original tenant and the landlord
Mike relocated for work and learned that the region in which he planned to buy a
home had many old underground mines. In fact, Mike might even need to
purchase mine subsidence insurance. What might a home inspector flag for Mike
if there are any concerns about undermining? - ✔✔✔ Correct Answer > A
sinkhole on the property
An underground storage tank has been in place for 15 years. What is its remaining
useful life, on average? - ✔✔✔ Correct Answer > Zero years
,Which of the following is described as an area that is protected by the Clean
Water Act where standing water that supports aquatic plants and animals is
located and groundwater is filtered? - ✔✔✔ Correct Answer > Wetland
Before becoming a broker-in-charge, a North Carolina broker must first apply for
_______ with the NCREC. - ✔✔✔ Correct Answer > Eligibility
Dave is an employee of a housing authority in his North Carolina county. He's
been asked to lease one of the properties that the housing authority owns to a
new tenant. Does Dave need a real estate license for this? - ✔✔✔ Correct Answer
> No. Dave qualifies for the housing authority exemption wherein an employee
is permitted to sell or lease properties that are owned by the housing authority.
It's fine for a personal assistant to answer a buyer's questions related to contract
terms if the personal assistant ______. - ✔✔✔ Correct Answer > Is licensed
Which of the following is NOT a measure a developer must take to prevent
sedimentation? - ✔✔✔ Correct Answer > Deep rooting trees along shoreline
Randall's clients, Carma and Trent, are looking for a mountain cabin. They tell
Randall they'll pay him a $2,000 finder's fee if he finds the cabin that checks all of
their boxes, and they close on it. Randall finds a likely candidate that's an FSBO,
and negotiations begin. What circumstance is required for Randall to receive the
finder's fee? - ✔✔✔ Correct Answer > Carma and Trent must pay the finder's fee
to Randall's broker
, Which of the following would NOT be considered a violation of license law? -
✔✔✔ Correct Answer > A timeshare salesperson who also has a legal license
performing legal services
Which of the following best describes a tenant's right to quiet enjoyment? - ✔✔✔
Correct Answer > A tenant has the right to enjoy lawful use of the property
without being dispossessed or trespassed upon, even by the landlord.
Ricky Nubbins is three months behind in his rent and has received several
reminders from the landlord that the rent is past due. As a result, the landlord has
begun working through proper channels to legally end Ricky's lease before the
contract end date. The landlord is terminating his lease through ______. - ✔✔✔
Correct Answer > Eviction
What does "No Representation" mean on a North Carolina property disclosure
form? - ✔✔✔ Correct Answer > The seller is choosing not to disclose certain
information.
Devin, a homebuilder, was caught dumping a load of rubble in an area designated
as wetlands. "But I wasn't building anything," he explained. "I wasn't involved in
any development when I dumped the dirt there." Was his dumping a legal act? -
✔✔✔ Correct Answer > No, because dumping material in a wetland is one of the
activities that isn't allowed without a permit.
In order for North Carolina broker Meredith to accept compensation from a home
inspector for referring a client, what must she disclose to the relevant transaction
parties? - ✔✔✔ Correct Answer > The name of the inspection company and the
type and amount of the compensation
