301 NC POST LICENSING EXAM 2026 STUDY
GUIDE COMPLETE LAW AND PRACTICE
REVIEW QUESTIONS
◉ What does the L in LOADS stand for? Answer: Loyalty
◉ What does the O in LOADS stand for? Answer: Obedience
◉ What does the A in LOADS stand for? Answer: Accountability
◉ What does the S in LOADS stand for? Answer: Skill, Care, and
Diligence
◉ What is a material fact? Answer: - Highway Improvement Plan
- Principals ability to complete a transaction
- Matters relating directly to the property's value or structure
- Special requests of the buyer
- Close to airport flight paths
◉ If a seller is behind on house payments does the agent have to
disclose? Answer: No disclosure necessary
,◉ If the property is in foreclosure or a short sale then there must
be... Answer: full disclosure
◉ Foreclosure= Answer: "Notice of Sale" has been filed with the
Clerk of Courts
◉ Facts that surround the property and could affect it's value...
Answer: - pending zoning changes
- existence of restrictive covenants
- plans for a new highway
-plans to build nearby shopping center
- close to an airport
◉ What is not a material fact? Answer: - Haunted house
- Death or serious illness of a occupant
- HIV or AIDS occupant (or any protected class)
- Sexual offender
- Appraisal of a former transaction
◉ What else can happen to a "Broker Gone Bad: other than civil
liability and the loss of commission? Answer: - Loss or suspension of
license
- Criminal Prosecution
, ◉ Agents duties to client under License Law: Answer: - Duty to
disclose all material facts
- Avoid false promises
- Account for all trust funds
- Competence in agency duties
- Avoid improper conduct/dishonesty
- Deliver all offers and contracts
- Disclose all payments from 3rd parties
- Avoid conflicts of interest
◉ Agents can NOT ignore conditions even if the seller does...
Answer: NOT disclose
◉ The Agents duties to a 3rd persons or customer: Answer: -
Disclosure of all material facts
- No false promises
- Proper accounting of all funds
- Disclosure of all fees
- Act in a competent manner
- Be honest & fair/no fraudulent dealing
- Delivery of all offers and contracts
GUIDE COMPLETE LAW AND PRACTICE
REVIEW QUESTIONS
◉ What does the L in LOADS stand for? Answer: Loyalty
◉ What does the O in LOADS stand for? Answer: Obedience
◉ What does the A in LOADS stand for? Answer: Accountability
◉ What does the S in LOADS stand for? Answer: Skill, Care, and
Diligence
◉ What is a material fact? Answer: - Highway Improvement Plan
- Principals ability to complete a transaction
- Matters relating directly to the property's value or structure
- Special requests of the buyer
- Close to airport flight paths
◉ If a seller is behind on house payments does the agent have to
disclose? Answer: No disclosure necessary
,◉ If the property is in foreclosure or a short sale then there must
be... Answer: full disclosure
◉ Foreclosure= Answer: "Notice of Sale" has been filed with the
Clerk of Courts
◉ Facts that surround the property and could affect it's value...
Answer: - pending zoning changes
- existence of restrictive covenants
- plans for a new highway
-plans to build nearby shopping center
- close to an airport
◉ What is not a material fact? Answer: - Haunted house
- Death or serious illness of a occupant
- HIV or AIDS occupant (or any protected class)
- Sexual offender
- Appraisal of a former transaction
◉ What else can happen to a "Broker Gone Bad: other than civil
liability and the loss of commission? Answer: - Loss or suspension of
license
- Criminal Prosecution
, ◉ Agents duties to client under License Law: Answer: - Duty to
disclose all material facts
- Avoid false promises
- Account for all trust funds
- Competence in agency duties
- Avoid improper conduct/dishonesty
- Deliver all offers and contracts
- Disclose all payments from 3rd parties
- Avoid conflicts of interest
◉ Agents can NOT ignore conditions even if the seller does...
Answer: NOT disclose
◉ The Agents duties to a 3rd persons or customer: Answer: -
Disclosure of all material facts
- No false promises
- Proper accounting of all funds
- Disclosure of all fees
- Act in a competent manner
- Be honest & fair/no fraudulent dealing
- Delivery of all offers and contracts
