Superior School of Real Estate Exam – 2026 Edition |
Verified Questions & Correct Answers
Designated agency in North Carolina is considered: I. A form of dual agency II.
Mandatory if you practice dual agency
A. I only
B. II only
C. Both I and II
D. Neither I nor II - CORRECT ANSWER=A. I only
Designated agency can be practiced: I. Between two firms II. Between a broker-in-
charge and a provisional broker licensee in their office
A. I only
B. II only
C. Both I and II
D. Neither I nor II - CORRECT ANSWER=D. Neither I nor II
Under the general principles of agency, when a licensee is acting on behalf of a
client and acts improperly who is liable for the acts of the licensee?
A. only the client
B. only the licensee and the broker-in-charge
C. only the client and the licensee
,D. the client, the licensee, the firm and or the broker-in-charge - CORRECT
ANSWER=D. the client, the licensee, the firm and or the broker-in-charge
A disclosure of agency status should be made by a buyer's agent to the seller: l.
With a written confirmation in the offer to purchase and contract ll. At the initial
contact with the seller's agent, orally or in writing
A. l only
B. ll only
C. Both l and ll
D. Neither l nor ll - CORRECT ANSWER=C. Both l and ll
A real estate Offer to Purchase and Contract becomes valid when:
A. the written offer has been signed by both the offeror and offeree
B. communication of acceptance is given to the offeror or the offeror's agent
C. communication of acceptance is given to the offeree or the offeree's agent
D. earnest money has been deposited into the escrow agent's trust account -
CORRECT ANSWER=B. communication of acceptance is given to the offeror or
the offeror's agent
During the due diligence period in the North Carolina standard offer to purchase
and contract, the buyer who was attempting to obtain a conventional loan did not
receive final loan approval, but chose not to terminate the contract based on
favorable communications from the lender. A week before closing, the buyer's loan
application is denied. If the buyer terminates the contract at this point, the buyer:
,A. will forfeit the earnest money deposit and due diligence fee because it would be
a buyer breach
B. will receive a refund of the earnest money, since the termination was related to
financing
C. can be sued by the seller for specific performance
D. will receive a refund of the earnest money and the due diligence fee -
CORRECT ANSWER=A. will forfeit the earnest money deposit and due diligence
fee because it would be a buyer breach
When should parties to a purchase contract in NC utilize the NCBA/NCAR
Contingent Sale Addendum?
A. When there are multiple offers pending in a short sale transaction
B. When the buyer wants to make multiple offers on several properties at the same
time
C. When the buyer conditions their offer upon the sale of another property that they
currently own
D. When the seller is also purchasing a property and needs that property to close
before they can sell and transfer a current property to a buyer - CORRECT
ANSWER=C. When the buyer conditions their offer upon the sale of another
property that they currently own
Under which type of listing agreement does the seller lose his/her right to compete
for the commission?
A. open listing
B. exclusive agency listing
C. exclusive right to sell listing
, D. net listing - CORRECT ANSWER=C. exclusive right to sell listing
Which of the following would be dual agency?
A. a broker-in-charge assisting a buyer client in the purchase of property that was
listed by a provisional broker of another firm
B. a provisional broker and a broker licensee from firms that are cooperating in a
transaction
C. a firm that represents buyers and sellers
D. a broker having a buyer client for a property the broker personally listed -
CORRECT ANSWER=D. a broker having a buyer client for a property the broker
personally listed
A parcel of vacant land 80 feet wide and 200 feet deep was sold for $200 per front
foot. How much money would an individual agent receive for a 60% share of the
10% commission earned?
A. $640
B. $960
C. $1,600
D. $2,400 - CORRECT ANSWER=B. $960
A buyer-client has instructed the agent to show only properties where the seller is
willing to pay the buyer agent's commission. The agent contacts an owner selling a
property without the assistance of a real estate agent with the hope that the seller
would be willing to pay her commission if the buyer decided to purchase the
seller's property. In order to comply with North Carolina Real Estate Commission
Rules, the agent must do all of the following, EXCEPT:
Verified Questions & Correct Answers
Designated agency in North Carolina is considered: I. A form of dual agency II.
Mandatory if you practice dual agency
A. I only
B. II only
C. Both I and II
D. Neither I nor II - CORRECT ANSWER=A. I only
Designated agency can be practiced: I. Between two firms II. Between a broker-in-
charge and a provisional broker licensee in their office
A. I only
B. II only
C. Both I and II
D. Neither I nor II - CORRECT ANSWER=D. Neither I nor II
Under the general principles of agency, when a licensee is acting on behalf of a
client and acts improperly who is liable for the acts of the licensee?
A. only the client
B. only the licensee and the broker-in-charge
C. only the client and the licensee
,D. the client, the licensee, the firm and or the broker-in-charge - CORRECT
ANSWER=D. the client, the licensee, the firm and or the broker-in-charge
A disclosure of agency status should be made by a buyer's agent to the seller: l.
With a written confirmation in the offer to purchase and contract ll. At the initial
contact with the seller's agent, orally or in writing
A. l only
B. ll only
C. Both l and ll
D. Neither l nor ll - CORRECT ANSWER=C. Both l and ll
A real estate Offer to Purchase and Contract becomes valid when:
A. the written offer has been signed by both the offeror and offeree
B. communication of acceptance is given to the offeror or the offeror's agent
C. communication of acceptance is given to the offeree or the offeree's agent
D. earnest money has been deposited into the escrow agent's trust account -
CORRECT ANSWER=B. communication of acceptance is given to the offeror or
the offeror's agent
During the due diligence period in the North Carolina standard offer to purchase
and contract, the buyer who was attempting to obtain a conventional loan did not
receive final loan approval, but chose not to terminate the contract based on
favorable communications from the lender. A week before closing, the buyer's loan
application is denied. If the buyer terminates the contract at this point, the buyer:
,A. will forfeit the earnest money deposit and due diligence fee because it would be
a buyer breach
B. will receive a refund of the earnest money, since the termination was related to
financing
C. can be sued by the seller for specific performance
D. will receive a refund of the earnest money and the due diligence fee -
CORRECT ANSWER=A. will forfeit the earnest money deposit and due diligence
fee because it would be a buyer breach
When should parties to a purchase contract in NC utilize the NCBA/NCAR
Contingent Sale Addendum?
A. When there are multiple offers pending in a short sale transaction
B. When the buyer wants to make multiple offers on several properties at the same
time
C. When the buyer conditions their offer upon the sale of another property that they
currently own
D. When the seller is also purchasing a property and needs that property to close
before they can sell and transfer a current property to a buyer - CORRECT
ANSWER=C. When the buyer conditions their offer upon the sale of another
property that they currently own
Under which type of listing agreement does the seller lose his/her right to compete
for the commission?
A. open listing
B. exclusive agency listing
C. exclusive right to sell listing
, D. net listing - CORRECT ANSWER=C. exclusive right to sell listing
Which of the following would be dual agency?
A. a broker-in-charge assisting a buyer client in the purchase of property that was
listed by a provisional broker of another firm
B. a provisional broker and a broker licensee from firms that are cooperating in a
transaction
C. a firm that represents buyers and sellers
D. a broker having a buyer client for a property the broker personally listed -
CORRECT ANSWER=D. a broker having a buyer client for a property the broker
personally listed
A parcel of vacant land 80 feet wide and 200 feet deep was sold for $200 per front
foot. How much money would an individual agent receive for a 60% share of the
10% commission earned?
A. $640
B. $960
C. $1,600
D. $2,400 - CORRECT ANSWER=B. $960
A buyer-client has instructed the agent to show only properties where the seller is
willing to pay the buyer agent's commission. The agent contacts an owner selling a
property without the assistance of a real estate agent with the hope that the seller
would be willing to pay her commission if the buyer decided to purchase the
seller's property. In order to comply with North Carolina Real Estate Commission
Rules, the agent must do all of the following, EXCEPT:
