NC Post-Licensing 302 - Unit Test Questions Actual
Comprehensive Real Exam Questions And Verified
Answers (Correct Answers) Graded A+ | Newest Exam |
Just Released!! 2026-2027
Which of the following individuals may act as the escrow agent in a real
estate closing?
Sarah, a representative from the escrow department at the buyer's
lender
- An escrow agent must be a neutral third party who works for or
represents neither the buyer nor the seller, either within our outside of
the transaction. When an escrow closing occurs, the title insurance
company or an escrow representative from a lending institution might
act as the escrow agent.
,In North Carolina, to whom may an escrow agent or broker who's
holding earnest money transfer the funds as part of the closing
process?
To the closing attorney
Which of the following changes to a borrower's loan would NOT require
a new lender-provided borrower's CD to be sent to the borrower?
The borrower had to purchase additional homeowners' insurance.
What is a quiet title suit?
A lawsuit that asks the court to determine who has claim on the property
The most common closing method implemented in North Carolina is the
_____.
Settlement meeting closing
In North Carolina, when will the closing attorney disburse escrow
funds?
When the funds have been verified and the deed or deed of trust
recorded
,Which type of closing is conducted with a neutral third party holding the
funds, and the buyer and seller may never meet?
Escrow closing
North Carolina licensee Damon just received the executed copy of the
offer his seller client, Emily, signed yesterday. How long does he have to
deliver a copy of this contract to Emily?
Three days
As part of the sales contract, Garth, the seller, was supposed to provide
a copy of the seller's disclosure to the buyer, Melanie, but he failed to
do so. What type of contract is this?
Voidable
Brynn's listing agent told potential buyers that all offers on Brynn's
property would be considered at 5 p.m. on May 3. By that date and time,
there were four offers. The persons making these offers are the _ _.
Offerrors
, Which of the following must be present in order to prove fraud has
occurred?
Intentionally withholding information
To meet the requirements of the statute of frauds, an agreement must
clearly identify the contract's subject matter, present the contract's
essential terms and conditions, and ______ to be enforceable.
Identify the contracting parties
Under the statute of frauds, which of the following agreements must be
in writing?
A real estate sales contract
Jayne was tired of waiting for her subcontractor to get his part of the
deal done. The agreed-upon deadlines came and went, and Jayne lost
money waiting for the subcontractor to come through. She decided that
if the subcontractor wasn't going to honor his commitments, neither was
she, so Jayne consulted with her attorney and then terminated the
contract. This is an example of _.
Rescinding the contract unilaterally
Comprehensive Real Exam Questions And Verified
Answers (Correct Answers) Graded A+ | Newest Exam |
Just Released!! 2026-2027
Which of the following individuals may act as the escrow agent in a real
estate closing?
Sarah, a representative from the escrow department at the buyer's
lender
- An escrow agent must be a neutral third party who works for or
represents neither the buyer nor the seller, either within our outside of
the transaction. When an escrow closing occurs, the title insurance
company or an escrow representative from a lending institution might
act as the escrow agent.
,In North Carolina, to whom may an escrow agent or broker who's
holding earnest money transfer the funds as part of the closing
process?
To the closing attorney
Which of the following changes to a borrower's loan would NOT require
a new lender-provided borrower's CD to be sent to the borrower?
The borrower had to purchase additional homeowners' insurance.
What is a quiet title suit?
A lawsuit that asks the court to determine who has claim on the property
The most common closing method implemented in North Carolina is the
_____.
Settlement meeting closing
In North Carolina, when will the closing attorney disburse escrow
funds?
When the funds have been verified and the deed or deed of trust
recorded
,Which type of closing is conducted with a neutral third party holding the
funds, and the buyer and seller may never meet?
Escrow closing
North Carolina licensee Damon just received the executed copy of the
offer his seller client, Emily, signed yesterday. How long does he have to
deliver a copy of this contract to Emily?
Three days
As part of the sales contract, Garth, the seller, was supposed to provide
a copy of the seller's disclosure to the buyer, Melanie, but he failed to
do so. What type of contract is this?
Voidable
Brynn's listing agent told potential buyers that all offers on Brynn's
property would be considered at 5 p.m. on May 3. By that date and time,
there were four offers. The persons making these offers are the _ _.
Offerrors
, Which of the following must be present in order to prove fraud has
occurred?
Intentionally withholding information
To meet the requirements of the statute of frauds, an agreement must
clearly identify the contract's subject matter, present the contract's
essential terms and conditions, and ______ to be enforceable.
Identify the contracting parties
Under the statute of frauds, which of the following agreements must be
in writing?
A real estate sales contract
Jayne was tired of waiting for her subcontractor to get his part of the
deal done. The agreed-upon deadlines came and went, and Jayne lost
money waiting for the subcontractor to come through. She decided that
if the subcontractor wasn't going to honor his commitments, neither was
she, so Jayne consulted with her attorney and then terminated the
contract. This is an example of _.
Rescinding the contract unilaterally
