NC 302 POST LICENSING 2026 STUDY EXAM GUIDE
QUESTIONS AND ANSWERS SURE A+
✔✔Typically if a Seller is not that motivated to sell the price would tend to be... - ✔✔At
the higher range of the CMA
✔✔In Qualifying Ratios what is included in the Front End? - ✔✔Principle payment,
Interest, Taxes Insurance, PMI & HOA
✔✔In Qualifying Ratios what is included in the Back End? - ✔✔Everything from the front
end + Recurring Debt Payments
✔✔What are the Qualifying Ratios for a conventional loan? - ✔✔28% / 36%
✔✔To figure out if a buyer is eligible for a loan based on Front End criteria, the formula
is what? - ✔✔PITII + HOA Divided by Gross Monthly Income
✔✔To figure out if a buyer is eligible for a loan based on Back End criteria, the formula
is what? - ✔✔PITII + HOA + Recurring Monthly Debts Divided by Gross Monthly Income
✔✔If a Seller wants to net exactly $50,000 but must pay 7% commission, plus a $1200
settlement fee, then what price must the property sell at? - ✔✔50,000+1200=51,200
then 51,200 divided by 93% = $55,053.76
✔✔If a Seller refuses to pay the listing agent commission due, and there was a valid
listing agreement in place, and the agent procured a buyer, what can the listing agent
do? - ✔✔File suit in a civil court against the Seller
✔✔What are the 3 types of Agency? - ✔✔Exclusive, Non-Exclusive, and Dual
✔✔All Oral Agency Agreements are...? - ✔✔Non-Exclusive
✔✔All Agency Agreements must include what disclaimer? - ✔✔Fair Housing Disclaimer
✔✔Which Comparables hold the most weight? - ✔✔The ones with the fewest
adjustments
✔✔On a CMA all adjustments are made to which property? Subject or Comparable? -
✔✔Always to the comparable
✔✔How many days before disputed Earnest Monies go to Clerk of Court? - ✔✔90 Days
QUESTIONS AND ANSWERS SURE A+
✔✔Typically if a Seller is not that motivated to sell the price would tend to be... - ✔✔At
the higher range of the CMA
✔✔In Qualifying Ratios what is included in the Front End? - ✔✔Principle payment,
Interest, Taxes Insurance, PMI & HOA
✔✔In Qualifying Ratios what is included in the Back End? - ✔✔Everything from the front
end + Recurring Debt Payments
✔✔What are the Qualifying Ratios for a conventional loan? - ✔✔28% / 36%
✔✔To figure out if a buyer is eligible for a loan based on Front End criteria, the formula
is what? - ✔✔PITII + HOA Divided by Gross Monthly Income
✔✔To figure out if a buyer is eligible for a loan based on Back End criteria, the formula
is what? - ✔✔PITII + HOA + Recurring Monthly Debts Divided by Gross Monthly Income
✔✔If a Seller wants to net exactly $50,000 but must pay 7% commission, plus a $1200
settlement fee, then what price must the property sell at? - ✔✔50,000+1200=51,200
then 51,200 divided by 93% = $55,053.76
✔✔If a Seller refuses to pay the listing agent commission due, and there was a valid
listing agreement in place, and the agent procured a buyer, what can the listing agent
do? - ✔✔File suit in a civil court against the Seller
✔✔What are the 3 types of Agency? - ✔✔Exclusive, Non-Exclusive, and Dual
✔✔All Oral Agency Agreements are...? - ✔✔Non-Exclusive
✔✔All Agency Agreements must include what disclaimer? - ✔✔Fair Housing Disclaimer
✔✔Which Comparables hold the most weight? - ✔✔The ones with the fewest
adjustments
✔✔On a CMA all adjustments are made to which property? Subject or Comparable? -
✔✔Always to the comparable
✔✔How many days before disputed Earnest Monies go to Clerk of Court? - ✔✔90 Days
