NC REAL ESTATE EXAM - STATE PORTION
QUESTIONS WITH 100% ACCURATE
ANSWERS
A broker receives a letter of inquiry from the North Carolina Real Estate Commission.
The licensee: - Accurate answers has 14-days to respond.
A licensee has 14-days to respond to a letter of inquiry from the NC Real Estate
Commission. The failure to respond to the Commission is a violation of license law and
Commission rules.
A standard offer to purchase from that a brokerage uses with a client MUST: -
Accurate answers be prepared by a licensed attorney.
The offer to purchase is a contract between the buyer and seller. The broker or the
brokerage cannot draft the agreement or terms in the agreement. The brokerage must
use a standard form that meets Commission rules or refers the client to an attorney to
write an offer for each client. The Commission does not approve contract forms; they
set the rules that the brokerage must follow. Most firms that are also members of the
Realtor Association will use the NCAR/NCBA offer to purchase and contract, but it is not
required.
The NC Real Estate Commission shall have the power to revoke or suspend a
licensee's license if he is found guilty of: - Accurate answers making any false
promises of a character likely to influence, persuade, or induce action by a client or
customer.
If a licensee violates license law, the Commission has the power to reprimand, suspend,
or revoke his / her license. They cannot fine a licensee, only a timeshare developer.
Making false promises to induce a party to purchase a property violates license law. Do
not confuse false promises with making a false statement about the property (willful or
negligent misrepresentation or omission).
A provision broker joins ABC Realty. He is asked to join a team that operates as Best
Brokers, LLC of ABC Realty with a broker in charge. May the provisional broker join the
team? - Accurate answers Yes. Since Best Yet, LLC is affiliated with ABC Realty
the provisional broker may join the team when they are located at the same address.
A provisional broker may affiliate with more than one broker in charge ONLY if both
BICs are at the same location. A provisional broker cannot affiliate with more than one
broker in charge when they are for different locations. NOTE: When a full broker wants
to join two different brokerages, the broker must obtain "the express knowledge and
consent of the broker with whom he or she is employed" before representing or
QUESTIONS WITH 100% ACCURATE
ANSWERS
A broker receives a letter of inquiry from the North Carolina Real Estate Commission.
The licensee: - Accurate answers has 14-days to respond.
A licensee has 14-days to respond to a letter of inquiry from the NC Real Estate
Commission. The failure to respond to the Commission is a violation of license law and
Commission rules.
A standard offer to purchase from that a brokerage uses with a client MUST: -
Accurate answers be prepared by a licensed attorney.
The offer to purchase is a contract between the buyer and seller. The broker or the
brokerage cannot draft the agreement or terms in the agreement. The brokerage must
use a standard form that meets Commission rules or refers the client to an attorney to
write an offer for each client. The Commission does not approve contract forms; they
set the rules that the brokerage must follow. Most firms that are also members of the
Realtor Association will use the NCAR/NCBA offer to purchase and contract, but it is not
required.
The NC Real Estate Commission shall have the power to revoke or suspend a
licensee's license if he is found guilty of: - Accurate answers making any false
promises of a character likely to influence, persuade, or induce action by a client or
customer.
If a licensee violates license law, the Commission has the power to reprimand, suspend,
or revoke his / her license. They cannot fine a licensee, only a timeshare developer.
Making false promises to induce a party to purchase a property violates license law. Do
not confuse false promises with making a false statement about the property (willful or
negligent misrepresentation or omission).
A provision broker joins ABC Realty. He is asked to join a team that operates as Best
Brokers, LLC of ABC Realty with a broker in charge. May the provisional broker join the
team? - Accurate answers Yes. Since Best Yet, LLC is affiliated with ABC Realty
the provisional broker may join the team when they are located at the same address.
A provisional broker may affiliate with more than one broker in charge ONLY if both
BICs are at the same location. A provisional broker cannot affiliate with more than one
broker in charge when they are for different locations. NOTE: When a full broker wants
to join two different brokerages, the broker must obtain "the express knowledge and
consent of the broker with whom he or she is employed" before representing or
