SUPERIOR 303 NC LAW AND RULES EXAM
STUDY GUIDE 2026 FULL QUESTIONS AND
SOLUTIONS VERIFIED
● An unlicensed assistant may do all of the following activities,
EXCEPT: Answer: exhibit homes that are for sale and show the buyer
around the home
● With regard to timeshares, all of the following are true, EXCEPT:
Answer: Timeshares are not considered real estate and no license is
required to sell time shares in North Carolina.
● Which of the following statements is true about timeshares? Answer:
They must be registered with the NC Real Estate Commission prior to
sale.
● All of the following statements are correct regarding the NCREC,
EXCEPT: Answer: They shall have the power to make reasonable
bylaws, rules and regulations that are inconsistent with the provisions of
the general statutes.
● It is correct to say that the NC Real Estate Commission may not fine a
real estate licensee. However, the NC Real Estate Commission may do
,which of the following? Answer: fine a timeshare developer up to $500
per violation of the Timeshare Act
● General Statute 93A-2 states, in part, that a real estate broker is any
person who, for compensation or valuable consideration or the promise
thereof, lists or offers to list property. All of the following would
constitute valuable consideration, EXCEPT: Answer: the neighbor
brings fresh tomatoes from their garden and bakes their agent a fresh
apple pie as a way of saying thank you
● All of the following could result in disciplinary action by the NC Real
Estate Commission for unworthiness or incompetence, EXCEPT:
Answer: Attempting to take all of the post licensing courses in a single
year
● A provisional broker is subject to two separate education requirements.
They must complete postlicensing education of 90 hours within 18
months from the date of licensure. When must a provisional broker
complete their first 8 hour CE requirement? Answer: Prior to the 2nd
renewal of their real estate license
● A nonprovisional real estate licensee is on inactive status. They are
NOT holding themselves out to be available to help others buy, sell, rent
or auction property. A friend asks for their help in a real estate
transaction. Which of the following is TRUE? Answer: An agent who's
license is inactive may not earn any fees or represent others in a real
estate transaction.
, ● In the event that a licensee's annual renewal fee is returned unpaid, the
North Carolina Real Estate Commission may take all of the following
actions, EXCEPT: Answer: fine the agent
● All of the following would constitute an illegal action by an inactive
licensee who is not affiliated with a firm, EXCEPT: Answer: telling a
new acquaintance that they are a broker, but they are on inactive status
● Which of the following do not need a real estate license to sell
property? Answer: a corporation that owns property and is using an
employee to sell the property
● Which of the following is INCORRECT about the post licensing
requirement of a provisional broker? Answer: post licensing courses end
on June 10th and must be completed for the provisional broker to renew
their license on June 30th
● If a provisional broker fails to complete all three postlicensing courses
within 18 months of obtaining license, what is their license status once
the anniversary date passes? Answer: inactive
● If a licensee does not pay their 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? Answer:
6 months
STUDY GUIDE 2026 FULL QUESTIONS AND
SOLUTIONS VERIFIED
● An unlicensed assistant may do all of the following activities,
EXCEPT: Answer: exhibit homes that are for sale and show the buyer
around the home
● With regard to timeshares, all of the following are true, EXCEPT:
Answer: Timeshares are not considered real estate and no license is
required to sell time shares in North Carolina.
● Which of the following statements is true about timeshares? Answer:
They must be registered with the NC Real Estate Commission prior to
sale.
● All of the following statements are correct regarding the NCREC,
EXCEPT: Answer: They shall have the power to make reasonable
bylaws, rules and regulations that are inconsistent with the provisions of
the general statutes.
● It is correct to say that the NC Real Estate Commission may not fine a
real estate licensee. However, the NC Real Estate Commission may do
,which of the following? Answer: fine a timeshare developer up to $500
per violation of the Timeshare Act
● General Statute 93A-2 states, in part, that a real estate broker is any
person who, for compensation or valuable consideration or the promise
thereof, lists or offers to list property. All of the following would
constitute valuable consideration, EXCEPT: Answer: the neighbor
brings fresh tomatoes from their garden and bakes their agent a fresh
apple pie as a way of saying thank you
● All of the following could result in disciplinary action by the NC Real
Estate Commission for unworthiness or incompetence, EXCEPT:
Answer: Attempting to take all of the post licensing courses in a single
year
● A provisional broker is subject to two separate education requirements.
They must complete postlicensing education of 90 hours within 18
months from the date of licensure. When must a provisional broker
complete their first 8 hour CE requirement? Answer: Prior to the 2nd
renewal of their real estate license
● A nonprovisional real estate licensee is on inactive status. They are
NOT holding themselves out to be available to help others buy, sell, rent
or auction property. A friend asks for their help in a real estate
transaction. Which of the following is TRUE? Answer: An agent who's
license is inactive may not earn any fees or represent others in a real
estate transaction.
, ● In the event that a licensee's annual renewal fee is returned unpaid, the
North Carolina Real Estate Commission may take all of the following
actions, EXCEPT: Answer: fine the agent
● All of the following would constitute an illegal action by an inactive
licensee who is not affiliated with a firm, EXCEPT: Answer: telling a
new acquaintance that they are a broker, but they are on inactive status
● Which of the following do not need a real estate license to sell
property? Answer: a corporation that owns property and is using an
employee to sell the property
● Which of the following is INCORRECT about the post licensing
requirement of a provisional broker? Answer: post licensing courses end
on June 10th and must be completed for the provisional broker to renew
their license on June 30th
● If a provisional broker fails to complete all three postlicensing courses
within 18 months of obtaining license, what is their license status once
the anniversary date passes? Answer: inactive
● If a licensee does not pay their 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? Answer:
6 months
