NC 301 POST LICENSING FINAL EXAM |
2025 EDITION | UPDATED QUESTIONS +
GUARANTEED PASS
Q1. Can a broker who is currently inactive still receive a referral payment if they were licensed
and active at the time they made the referral?
• Answer: Yes. As long as the licensee was active at the time the referral was made, they
may be paid.
Q2. Does dual agency require a written agreement?
• Answer: Yes. It must be put in writing and signed by both parties before any offer is
submitted.
Q3. At a listing consultation, besides property details, what else should the agent be collecting?
• Answer: Information for marketing and promotional purposes.
Q4. Can a Broker-in-Charge and their provisional broker both represent opposite sides in a dual
agency situation?
• Answer: No. Because the BIC supervises the PB’s work, this creates a conflict of
interest.
Q5. When is it required that all agency agreements be in written form?
• Answer: Before the first offer is presented.
Q6. Are all transactions handled within the same brokerage considered dual agency?
, • Answer: No. Exceptions exist, such as seller subagency or when dealing with
unrepresented buyers.
Q7. Does the Real Estate Commission have authority to fine brokers?
• Answer: No. They can only censure, suspend, or revoke licenses — not impose fines.
Q8. Who has the right to bring civil lawsuits for damages against an agent?
• Answer: The clients (principals) involved in the transaction.
Q9. If dual agency is not disclosed, is a commission owed?
• Answer: No. Full disclosure of dual agency is required before offers are written in order
for commission to be due.
Q10. In a dual agency scenario, the broker’s duties are narrowed down to what?
• Answer: Only their contractual responsibilities.
Q11. What two dates must all agency agreements contain?
• Answer: A start date and an expiration date.
Q12. What do “oral-to-oral” and “written-to-written” describe in relation to dual agency?
• Answer: The type of permission needed to show a property when functioning as a dual
agent.
Q13. What documents should a broker bring when attending a listing appointment?
2025 EDITION | UPDATED QUESTIONS +
GUARANTEED PASS
Q1. Can a broker who is currently inactive still receive a referral payment if they were licensed
and active at the time they made the referral?
• Answer: Yes. As long as the licensee was active at the time the referral was made, they
may be paid.
Q2. Does dual agency require a written agreement?
• Answer: Yes. It must be put in writing and signed by both parties before any offer is
submitted.
Q3. At a listing consultation, besides property details, what else should the agent be collecting?
• Answer: Information for marketing and promotional purposes.
Q4. Can a Broker-in-Charge and their provisional broker both represent opposite sides in a dual
agency situation?
• Answer: No. Because the BIC supervises the PB’s work, this creates a conflict of
interest.
Q5. When is it required that all agency agreements be in written form?
• Answer: Before the first offer is presented.
Q6. Are all transactions handled within the same brokerage considered dual agency?
, • Answer: No. Exceptions exist, such as seller subagency or when dealing with
unrepresented buyers.
Q7. Does the Real Estate Commission have authority to fine brokers?
• Answer: No. They can only censure, suspend, or revoke licenses — not impose fines.
Q8. Who has the right to bring civil lawsuits for damages against an agent?
• Answer: The clients (principals) involved in the transaction.
Q9. If dual agency is not disclosed, is a commission owed?
• Answer: No. Full disclosure of dual agency is required before offers are written in order
for commission to be due.
Q10. In a dual agency scenario, the broker’s duties are narrowed down to what?
• Answer: Only their contractual responsibilities.
Q11. What two dates must all agency agreements contain?
• Answer: A start date and an expiration date.
Q12. What do “oral-to-oral” and “written-to-written” describe in relation to dual agency?
• Answer: The type of permission needed to show a property when functioning as a dual
agent.
Q13. What documents should a broker bring when attending a listing appointment?
