NC REAL ESTATE EXAM- STATE PORTION
QUESTIONS WITH 100% ACCURATE
ANSWERS
Activities Requiring a License - Accurate answers Persons AND business entities,
who for CONSIDERATION or the promise thereof perform BROKERAGE ACTIVITIES
as an agent FOR OTHERS are considered to be performing brokerage activities and
must have a license.
Referrals for compensation - Accurate answers Requires an active license
Selling time shares - Accurate answers Requires an active license
Advertising - Accurate answers In ANY manner (to include a business card),
requires an active license
Business Entities/Firm License - Accurate answers ANY corporation, partnership,
Limited Liability Company, association or other business entity (other than a sole
proprietorship) MUST obtain a separate (firm) license.
Exempt Activities - Accurate answers -Business entity
-Attorney in Fact
-Attorney at Law
-Receiver/Trustee
-Salaried Employees of Broker-Property Managers
-Owner
-Housing Authority
-Auctioneer (the mere "crier" of a sale is exempt
Permitted Activities of Unlicensed Assistants - Accurate answers -SHOW "rental"
properties managed by the employee's empoying broker to prospective tenants
-COMPLETE and execute pre-printed form leases for rental of such properties
-TYPE offers, contracts & leases from drafts of pre-printed forms completed by a
licensee.
-MAY act as a bookkeeper for the firm's Trust Account
What kind of license do I need? - Accurate answers There is only one "type" of
license in NC, a broker license; however, there are several license categories.
Broker - Accurate answers A provisional broker who satisfied all postlicense
education requirements to terminate the provisional status of such license becomes a
broker.
QUESTIONS WITH 100% ACCURATE
ANSWERS
Activities Requiring a License - Accurate answers Persons AND business entities,
who for CONSIDERATION or the promise thereof perform BROKERAGE ACTIVITIES
as an agent FOR OTHERS are considered to be performing brokerage activities and
must have a license.
Referrals for compensation - Accurate answers Requires an active license
Selling time shares - Accurate answers Requires an active license
Advertising - Accurate answers In ANY manner (to include a business card),
requires an active license
Business Entities/Firm License - Accurate answers ANY corporation, partnership,
Limited Liability Company, association or other business entity (other than a sole
proprietorship) MUST obtain a separate (firm) license.
Exempt Activities - Accurate answers -Business entity
-Attorney in Fact
-Attorney at Law
-Receiver/Trustee
-Salaried Employees of Broker-Property Managers
-Owner
-Housing Authority
-Auctioneer (the mere "crier" of a sale is exempt
Permitted Activities of Unlicensed Assistants - Accurate answers -SHOW "rental"
properties managed by the employee's empoying broker to prospective tenants
-COMPLETE and execute pre-printed form leases for rental of such properties
-TYPE offers, contracts & leases from drafts of pre-printed forms completed by a
licensee.
-MAY act as a bookkeeper for the firm's Trust Account
What kind of license do I need? - Accurate answers There is only one "type" of
license in NC, a broker license; however, there are several license categories.
Broker - Accurate answers A provisional broker who satisfied all postlicense
education requirements to terminate the provisional status of such license becomes a
broker.
