NC Post Licensing – 303 REAL EXAM COMPLETE QUESTIONS
WITH 100% RATED CORRECT ANSWERS 2025 LATEST
UPDATED 100% (ACCURATE) GET A+!!
Question 1
Under what license status may a licensee NOT earn compensation?
A) Provisional status
B) Full broker status
C) Inactive or Expired status
D) Active status
E) BIC eligible status
Correct Answer: C) Inactive or Expired status
Rationale: A licensee is prohibited from earning compensation when
their license is in an inactive or expired status.
Question 2
When can a licensee receive compensation for brokerage services, even if
their license is currently inactive or expired?
A) If the compensation was for work performed while the license was current
and active.
B) If they had a verbal agreement with the client.
C) If the compensation is less than $100.
D) If the client agrees to pay despite the license status.
E) Never, once the license is inactive or expired.
Correct Answer: A) If the compensation was for work performed while
the license was current and active.
Rationale: Compensation earned while a license was current and
,active may still be received even if the license subsequently
becomes inactive or expired.
Question 3
Under what condition may a Broker-in-Charge (BIC) pay a licensee's entity
(e.g., an LLC or S-Corp)?
A) If the licensee is a provisional broker.
B) If the entity has a firm license.
C) If the payment is a bonus.
D) If the payment is a referral fee.
E) A BIC may never pay a licensee's entity directly.
Correct Answer: B) If the entity has a firm license.
Rationale: A BIC cannot pay a licensee's entity unless that entity
itself holds a valid firm license.
Question 4
When a licensee shares commission with parties, what is a mandatory
requirement?
A) It must be a verbal agreement.
B) It must be done prior to closing only.
C) It must be in writing as part of the agreement.
D) It must be approved by the NCREC.
E) It is never permitted to share commission.
Correct Answer: C) It must be in writing - as part of the agreement
,Rationale: Any commission sharing with parties must be documented
in writing as part of the agreement.
Question 5
For transactions involving loans, commission sharing with parties must be
subject to what approval?
A) NCREC approval
B) Seller approval
C) Buyer approval
D) Lender Approval
E) Firm approval
Correct Answer: D) Lender Approval
Rationale: If a loan is involved, commission sharing must be approved
by the lender.
Question 6
Where must commission sharing with parties be disclosed?
A) In the listing agreement
B) On the Closing Disclosure
C) On the sales contract
D) In the agency agreement
E) In a separate addendum
Correct Answer: B) Disclosed on the Closing Disclosure
Rationale: All commission sharing must be explicitly disclosed on the
Closing Disclosure form.
, Question 7
From whom may a licensee typically share commission?
A) Only with other affiliated brokers.
B) Only with the firm's attorney.
C) Only with the principal or client.
D) Only with non-affiliated brokers.
E) Only with the BIC.
Correct Answer: C) Only with principal or client (not others)
Rationale: Commission sharing is generally restricted to the principal
or client, not other third parties.
Question 8
In North Carolina, how must all compensation for brokerage services
primarily flow?
A) Directly from the client to the licensee.
B) Directly from the firm's broker-in-charge.
C) Directly from the firm.
D) Directly from the cooperating broker.
E) Directly from the attorney.
Correct Answer: C) Compensation ALWAYS flows through the firm
Rationale: Compensation must always flow through the firm, from the
BIC.
Question 9
Under what specific circumstance may brokers directly pay other brokers?
WITH 100% RATED CORRECT ANSWERS 2025 LATEST
UPDATED 100% (ACCURATE) GET A+!!
Question 1
Under what license status may a licensee NOT earn compensation?
A) Provisional status
B) Full broker status
C) Inactive or Expired status
D) Active status
E) BIC eligible status
Correct Answer: C) Inactive or Expired status
Rationale: A licensee is prohibited from earning compensation when
their license is in an inactive or expired status.
Question 2
When can a licensee receive compensation for brokerage services, even if
their license is currently inactive or expired?
A) If the compensation was for work performed while the license was current
and active.
B) If they had a verbal agreement with the client.
C) If the compensation is less than $100.
D) If the client agrees to pay despite the license status.
E) Never, once the license is inactive or expired.
Correct Answer: A) If the compensation was for work performed while
the license was current and active.
Rationale: Compensation earned while a license was current and
,active may still be received even if the license subsequently
becomes inactive or expired.
Question 3
Under what condition may a Broker-in-Charge (BIC) pay a licensee's entity
(e.g., an LLC or S-Corp)?
A) If the licensee is a provisional broker.
B) If the entity has a firm license.
C) If the payment is a bonus.
D) If the payment is a referral fee.
E) A BIC may never pay a licensee's entity directly.
Correct Answer: B) If the entity has a firm license.
Rationale: A BIC cannot pay a licensee's entity unless that entity
itself holds a valid firm license.
Question 4
When a licensee shares commission with parties, what is a mandatory
requirement?
A) It must be a verbal agreement.
B) It must be done prior to closing only.
C) It must be in writing as part of the agreement.
D) It must be approved by the NCREC.
E) It is never permitted to share commission.
Correct Answer: C) It must be in writing - as part of the agreement
,Rationale: Any commission sharing with parties must be documented
in writing as part of the agreement.
Question 5
For transactions involving loans, commission sharing with parties must be
subject to what approval?
A) NCREC approval
B) Seller approval
C) Buyer approval
D) Lender Approval
E) Firm approval
Correct Answer: D) Lender Approval
Rationale: If a loan is involved, commission sharing must be approved
by the lender.
Question 6
Where must commission sharing with parties be disclosed?
A) In the listing agreement
B) On the Closing Disclosure
C) On the sales contract
D) In the agency agreement
E) In a separate addendum
Correct Answer: B) Disclosed on the Closing Disclosure
Rationale: All commission sharing must be explicitly disclosed on the
Closing Disclosure form.
, Question 7
From whom may a licensee typically share commission?
A) Only with other affiliated brokers.
B) Only with the firm's attorney.
C) Only with the principal or client.
D) Only with non-affiliated brokers.
E) Only with the BIC.
Correct Answer: C) Only with principal or client (not others)
Rationale: Commission sharing is generally restricted to the principal
or client, not other third parties.
Question 8
In North Carolina, how must all compensation for brokerage services
primarily flow?
A) Directly from the client to the licensee.
B) Directly from the firm's broker-in-charge.
C) Directly from the firm.
D) Directly from the cooperating broker.
E) Directly from the attorney.
Correct Answer: C) Compensation ALWAYS flows through the firm
Rationale: Compensation must always flow through the firm, from the
BIC.
Question 9
Under what specific circumstance may brokers directly pay other brokers?
