NC Real Estate Exam- State Portion / Key Questions with 100%
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Terms in this set (73)
When must a firm practicing D: at the time the offer is submitted to the seller
"designated agency" disclose to
the seller the name of the agent
representing the buyer.
A: at first substantial contact with
the seller B: at initial contact
with the seller
C: at the time the buyer's agent
shows the seller's property
D: at the time the offer is submitted
to the seller
What is the first point at which a A: when the NCREC receives notification of the provisional broker's
provisional broker may begin activation with a BIC
practicing real estate in North
Carolina?
A: when the NCREC receives
notification of the provisional
broker's activation with a BIC
B: upon successful completion of
all course work and required
examinations
C: upon completion of all
educational requirements
D: upon formal notification
from the NCREC that the
candidate has successfully passed
the real estate examination and
has been issued a license
number
,Which of the following is INCORRECT C: post licensing courses end on June 10th and must be completed
about the post licensing for the provisional broker to renew their license on June 30th
requirement of a provisional
broker?
A: the due date of the post
licensing education is the
anniversary date of licensure
B: post licensing consists of three
30 hour courses which may be
taken in any order and must be
completed within 3 years of the
date of licensure
C: post licensing courses end on
June 10th and must be completed
for the provisional broker to
renew their license on June 30th
D: if a provisional broker does
not
complete post licensing by the
deadlines their license will
become inactive
If a licensee does not pay their C: 6 months
renewal fee on or before June 30
of the year, what is the time
period for the licensee to reinstate
their license without the
imposition of
additional educational
requirements? A: 30 days
B: 60 days
C: 6
months
D: one
year
Judy is an unlicensed individual. Her C: Yes, Judy is engaged in the business of real estate without a license
parents are selling their own
home as For Sale by Owner
,without the representation of a
real estate licensee. While her
parents are on vacation, Judy
shows the home to some
interested potential buyers and
has long conversations with
them about the conditions under
which they may purchase her
parent's home. Judy's parents
do not
pay her in cash but instead offer to
send on an upcoming vacation. Is
Judy in violation of NC Licensing
Law?
A: No because the home is her
parent's own property and it is
therefore exempt from the
licensure requirement.
B: No, because Judy did not
receive any cash payment for
her activity.
C: Yes, Judy is engaged in the
business of real estate without
a license
D: Yes because Judy is legally
required to obtain a power of
attorney from her
parents in this instance.
, A provisional broker obtains A: June 30 of the current year
their NC real estate license on
April 15th and joins a real estate
firm. In order to remain active,
the
broker must pay the renewal fee
to the NC Real Estate
Commission on or before:
A: June 30 of the
current year B: June 30
of the following year C:
June 10 of the current
year
D: December 31 of the current year
The NC Homestead Exemption B: an individual who filed bankruptcy due to excessive medical bills
would be of importance and and judgment liens
have the greatest
impact on:
A: a borrower who is in default on
their property and facing
foreclosure
B: an individual who filed
bankruptcy due to excessive
medical bills and judgment
liens
C: an investor who must
engage in the short sale of an
investment property Da
married couple who is selling
their primary residence to a
buyer
Jack is a licensed real estate C: So long as Jack affiliates with a NC broker he may accompany the
professional in Illinois. He has buyer to North Carolina and assist in showing the buyer
been a broker for many property
years, but is not licensed in NC.
Jack has a friend who wants to
purchase a home in Charlotte,
Correct Answers. All Questions and Correct Answers| Verified Answers
| Just Released | Newest Version
Terms in this set (73)
When must a firm practicing D: at the time the offer is submitted to the seller
"designated agency" disclose to
the seller the name of the agent
representing the buyer.
A: at first substantial contact with
the seller B: at initial contact
with the seller
C: at the time the buyer's agent
shows the seller's property
D: at the time the offer is submitted
to the seller
What is the first point at which a A: when the NCREC receives notification of the provisional broker's
provisional broker may begin activation with a BIC
practicing real estate in North
Carolina?
A: when the NCREC receives
notification of the provisional
broker's activation with a BIC
B: upon successful completion of
all course work and required
examinations
C: upon completion of all
educational requirements
D: upon formal notification
from the NCREC that the
candidate has successfully passed
the real estate examination and
has been issued a license
number
,Which of the following is INCORRECT C: post licensing courses end on June 10th and must be completed
about the post licensing for the provisional broker to renew their license on June 30th
requirement of a provisional
broker?
A: the due date of the post
licensing education is the
anniversary date of licensure
B: post licensing consists of three
30 hour courses which may be
taken in any order and must be
completed within 3 years of the
date of licensure
C: post licensing courses end on
June 10th and must be completed
for the provisional broker to
renew their license on June 30th
D: if a provisional broker does
not
complete post licensing by the
deadlines their license will
become inactive
If a licensee does not pay their C: 6 months
renewal fee on or before June 30
of the year, what is the time
period for the licensee to reinstate
their license without the
imposition of
additional educational
requirements? A: 30 days
B: 60 days
C: 6
months
D: one
year
Judy is an unlicensed individual. Her C: Yes, Judy is engaged in the business of real estate without a license
parents are selling their own
home as For Sale by Owner
,without the representation of a
real estate licensee. While her
parents are on vacation, Judy
shows the home to some
interested potential buyers and
has long conversations with
them about the conditions under
which they may purchase her
parent's home. Judy's parents
do not
pay her in cash but instead offer to
send on an upcoming vacation. Is
Judy in violation of NC Licensing
Law?
A: No because the home is her
parent's own property and it is
therefore exempt from the
licensure requirement.
B: No, because Judy did not
receive any cash payment for
her activity.
C: Yes, Judy is engaged in the
business of real estate without
a license
D: Yes because Judy is legally
required to obtain a power of
attorney from her
parents in this instance.
, A provisional broker obtains A: June 30 of the current year
their NC real estate license on
April 15th and joins a real estate
firm. In order to remain active,
the
broker must pay the renewal fee
to the NC Real Estate
Commission on or before:
A: June 30 of the
current year B: June 30
of the following year C:
June 10 of the current
year
D: December 31 of the current year
The NC Homestead Exemption B: an individual who filed bankruptcy due to excessive medical bills
would be of importance and and judgment liens
have the greatest
impact on:
A: a borrower who is in default on
their property and facing
foreclosure
B: an individual who filed
bankruptcy due to excessive
medical bills and judgment
liens
C: an investor who must
engage in the short sale of an
investment property Da
married couple who is selling
their primary residence to a
buyer
Jack is a licensed real estate C: So long as Jack affiliates with a NC broker he may accompany the
professional in Illinois. He has buyer to North Carolina and assist in showing the buyer
been a broker for many property
years, but is not licensed in NC.
Jack has a friend who wants to
purchase a home in Charlotte,
