SUPERIOR NC REAL ESTATE FINAL LICENSING EXAM Study Guide
(2025/2026 Syllabus)
Disclaimer: This guide is a comprehensive review tool based on common exam topics
and North Carolina-specific laws. It is not a substitute for completing the required pre-
licensing course. Always refer to the most current NC Real Estate Commission (NCREC)
materials and state statutes for authoritative information.
PART 1: NC License Law & Commission Rules
1. QUESTION: Under the NC Real Estate License Law, which of the following
activities requires a real estate broker's license?
ANSWER: ✓ Negotiating the purchase of a 10-unit apartment building for a client for a
fee.
2. QUESTION: A broker's compensation (commission) is typically determined by
what?
ANSWER: ✓ A written agreement between the broker and their client, usually the seller
in a listing agreement.
3. QUESTION: What is the primary purpose of the NC Real Estate Commission?
ANSWER: ✓ To protect the public by regulating the practice of real estate brokerage.
4. QUESTION: A salesperson's license must be held by and activated under whom?
ANSWER: ✓ A licensed and active broker-in-charge (BIC).
5. QUESTION: What is the minimum duration of the 90-hour pre-licensing course
before a candidate can sit for the state exam?
ANSWER: ✓ The course must span at least 15 calendar days.
6. QUESTION: A broker-in-charge (BIC) is responsible for what key duty regarding
trust funds?
ANSWER: ✓ Properly safeguarding and accounting for all trust money held by the firm.
7. QUESTION: When must a broker deposit trust funds (like an earnest money
deposit) into their trust account?
, ANSWER: ✓ By the end of the third banking day following the offer's acceptance, unless
otherwise agreed in writing.
8. QUESTION: What is the maximum amount a broker can be fined by the NCREC
for a single violation of the License Law?
ANSWER: ✓ $2,500 per violation.
9. QUESTION: A broker is permitted to share compensation with whom?
ANSWER: ✓ Only with another licensed real estate broker.
10. QUESTION: What must a broker do before engaging in a brokerage
relationship with a client?
ANSWER: ✓ Provide the "Working with Real Estate Agents" brochure and secure a
signed agency agreement.
11. QUESTION: How long must a broker retain transaction records and trust
account records?
ANSWER: ✓ For three years from the date of the closing or the termination of the
agency agreement.
12. QUESTION: What constitutes an undisclosed dual agency in North Carolina?
ANSWER: ✓ A broker representing both the buyer and the seller in the same transaction
without the informed, written consent of both parties.
13. QUESTION: A salesperson can legally do which of the following?
ANSWER: ✓ Prepare a comparative market analysis (CMA) for a seller under the
supervision of their BIC.
14. QUESTION: What is required for a broker to act as a designated agent?
ANSWER: ✓ The brokerage firm must have a written policy in place for designated
agency.
15. QUESTION: Which entity administers the state real estate licensing exam?
ANSWER: ✓ The NC Real Estate Commission contracts with PSI to administer the exam.
PART 2: Agency Law & Relationships
(2025/2026 Syllabus)
Disclaimer: This guide is a comprehensive review tool based on common exam topics
and North Carolina-specific laws. It is not a substitute for completing the required pre-
licensing course. Always refer to the most current NC Real Estate Commission (NCREC)
materials and state statutes for authoritative information.
PART 1: NC License Law & Commission Rules
1. QUESTION: Under the NC Real Estate License Law, which of the following
activities requires a real estate broker's license?
ANSWER: ✓ Negotiating the purchase of a 10-unit apartment building for a client for a
fee.
2. QUESTION: A broker's compensation (commission) is typically determined by
what?
ANSWER: ✓ A written agreement between the broker and their client, usually the seller
in a listing agreement.
3. QUESTION: What is the primary purpose of the NC Real Estate Commission?
ANSWER: ✓ To protect the public by regulating the practice of real estate brokerage.
4. QUESTION: A salesperson's license must be held by and activated under whom?
ANSWER: ✓ A licensed and active broker-in-charge (BIC).
5. QUESTION: What is the minimum duration of the 90-hour pre-licensing course
before a candidate can sit for the state exam?
ANSWER: ✓ The course must span at least 15 calendar days.
6. QUESTION: A broker-in-charge (BIC) is responsible for what key duty regarding
trust funds?
ANSWER: ✓ Properly safeguarding and accounting for all trust money held by the firm.
7. QUESTION: When must a broker deposit trust funds (like an earnest money
deposit) into their trust account?
, ANSWER: ✓ By the end of the third banking day following the offer's acceptance, unless
otherwise agreed in writing.
8. QUESTION: What is the maximum amount a broker can be fined by the NCREC
for a single violation of the License Law?
ANSWER: ✓ $2,500 per violation.
9. QUESTION: A broker is permitted to share compensation with whom?
ANSWER: ✓ Only with another licensed real estate broker.
10. QUESTION: What must a broker do before engaging in a brokerage
relationship with a client?
ANSWER: ✓ Provide the "Working with Real Estate Agents" brochure and secure a
signed agency agreement.
11. QUESTION: How long must a broker retain transaction records and trust
account records?
ANSWER: ✓ For three years from the date of the closing or the termination of the
agency agreement.
12. QUESTION: What constitutes an undisclosed dual agency in North Carolina?
ANSWER: ✓ A broker representing both the buyer and the seller in the same transaction
without the informed, written consent of both parties.
13. QUESTION: A salesperson can legally do which of the following?
ANSWER: ✓ Prepare a comparative market analysis (CMA) for a seller under the
supervision of their BIC.
14. QUESTION: What is required for a broker to act as a designated agent?
ANSWER: ✓ The brokerage firm must have a written policy in place for designated
agency.
15. QUESTION: Which entity administers the state real estate licensing exam?
ANSWER: ✓ The NC Real Estate Commission contracts with PSI to administer the exam.
PART 2: Agency Law & Relationships
