NC Post Licensing – 303 Exam 2026
Questions and Answers
A Licensee may not earn compensation when there license - VIP - Correct answer-
is INACTIVE or EXPIRED
A Licensee can receive compensation that was earned WHEN - VIP - Correct
answer-the license was current and active even if inactive of expired after
A BIC may NOT pay a licensee's ENTITY - Correct answer-unless the entity has a
firm license.
A Licensee can share commission with parties BUT - Correct answer-1) Must be in
writing - as part of the agreement
2) Must be subject to Lender Approval in case of loans
3) Disclosed on the Closing Disclosure
©COPYRIGHT 2025, ALL RIGHTS RESERVED 1
,4) Is considered a gift
5) Only with principal or client (not others)
Compensation ALWAYS flows through the firm - Correct answer-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 - Correct answer-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:
©COPYRIGHT 2025, ALL RIGHTS RESERVED 2
, - Written documentation regarding fee
- Proof of licensure
- Copy of a W9 for Brokerage Insurance or a 1099
When receiving Bonuses & Incentives - Correct answer-Disclosure AND consent
by Principal is REQUIRED
RESPA Prohibits - Correct answer-KICKBACKS to
Settlement Service Providers
- BANKS
- APPRAISAL COMPANIES
- TITLE OFFICERS
- ATTORNEYS
RESPA STATUTE - Correct answer-Applies to:
- 1-4 units RESIDENTIAL PROPERTIES WITH A FEDERALLY RELATED
LOAN
- ENFORCED BY HUD
RESPA does not apply to (VIP) - Correct answer-1) Vacant Land Transactions
©COPYRIGHT 2025, ALL RIGHTS RESERVED 3
Questions and Answers
A Licensee may not earn compensation when there license - VIP - Correct answer-
is INACTIVE or EXPIRED
A Licensee can receive compensation that was earned WHEN - VIP - Correct
answer-the license was current and active even if inactive of expired after
A BIC may NOT pay a licensee's ENTITY - Correct answer-unless the entity has a
firm license.
A Licensee can share commission with parties BUT - Correct answer-1) Must be in
writing - as part of the agreement
2) Must be subject to Lender Approval in case of loans
3) Disclosed on the Closing Disclosure
©COPYRIGHT 2025, ALL RIGHTS RESERVED 1
,4) Is considered a gift
5) Only with principal or client (not others)
Compensation ALWAYS flows through the firm - Correct answer-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 - Correct answer-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:
©COPYRIGHT 2025, ALL RIGHTS RESERVED 2
, - Written documentation regarding fee
- Proof of licensure
- Copy of a W9 for Brokerage Insurance or a 1099
When receiving Bonuses & Incentives - Correct answer-Disclosure AND consent
by Principal is REQUIRED
RESPA Prohibits - Correct answer-KICKBACKS to
Settlement Service Providers
- BANKS
- APPRAISAL COMPANIES
- TITLE OFFICERS
- ATTORNEYS
RESPA STATUTE - Correct answer-Applies to:
- 1-4 units RESIDENTIAL PROPERTIES WITH A FEDERALLY RELATED
LOAN
- ENFORCED BY HUD
RESPA does not apply to (VIP) - Correct answer-1) Vacant Land Transactions
©COPYRIGHT 2025, ALL RIGHTS RESERVED 3
