2
301- NC Post Licensing Exam with verified detailed answers
|| || || || || || || ||
Can an inactive agent be paid a referral commission if they were active at the time they
|| || || || || || || || || || || || || || || || ||
made the referral? - ✔✔Yes. If and only if they were active at time of referral
|| || || || || || || || || || || || || || ||
Must Dual Agency be in writing? - ✔✔Before an offer is made, Yes. Dual agency must be in
|| || || || || || || || || || || || || || || || || ||
writing and signed by both parties || || || || ||
At a listing appointment, the agent should be gathering all information for listing and what?
|| || || || || || || || || || || || || ||
- ✔✔Advertising
|| ||
May a BIC and their Provisional Broker enter into dual agency together? - ✔✔No. Because
|| || || || || || || || || || || || || || ||
the BIC oversees the PBs transactions, this would be a conflict of interest
|| || || || || || || || || || || ||
When must all agency be "Written" - ✔✔Prior to first offer
|| || || || || || || || || ||
Are all in-house transactions Dual Agency? - ✔✔No. The exceptions would be Seller Sub
|| || || || || || || || || || || || || ||
Agency or Unrepresented Buyers || || ||
Can The Real Estate Commission fine brokers? - ✔✔No. They can only reprimand,
|| || || || || || || || || || || || ||
suspend, and revoke licenses || || ||
Who can sue agents civilly for monetary compensation? - ✔✔Principles of a transaction
|| || || || || || || || || || || ||
If Dual Agency is not disclosed is a commission due? - ✔✔No. Therefore it is imperative to
|| || || || || || || || || || || || || || || || ||
disclose dual agency before any offers are written || || || || || || ||
, 2
As a dual agent, the agent's duties are reduced to what? - ✔✔Contractual Obligations
|| || || || || || || || || || || || ||
What must all agency agreements have? - ✔✔A beginning and ending date
|| || || || || || || || || || ||
Oral to Oral & Written to Written describe what? - ✔✔The permissions needed to show a
|| || || || || || || || || || || || || || || ||
property as a "Dual Agent" || || || ||
What should every agent bring to a listing appointment? - ✔✔Deed, Plot Map, Tax Info,
|| || || || || || || || || || || || || || ||
RPD, MOG, Listing Agreement (Several Other items)
|| || || || || ||
Who gets paid in an Exclusive Right to Sell listing agreement? - ✔✔The listing agent,
|| || || || || || || || || || || || || || ||
regardless of who brings a buyer, and likely the buyer agent || || || || || || || || || ||
Who gets paid in an exclusive listing agreement? - ✔✔Whomever brings a buyer
|| || || || || || || || || || || ||
Who can sell a property in an Open listing? - ✔✔Any actively licensed agent
|| || || || || || || || || || || || ||
In a net listing money above the asking price is paid to whom? - ✔✔Listing Agent
|| || || || || || || || || || || || || || ||
Who is the actual agent to the principle in a transaction? - ✔✔The Firm (Individual agents
|| || || || || || || || || || || || || || || ||
are sub agents to seller)
|| || || ||
No M.O.G. is needed for what 3 listings? - ✔✔Lease to purchase, 1st Dwelling, and
|| || || || || || || || || || || || || || ||
Foreclosure
When should WWREA be explained / signed? - ✔✔At first substantial contact
|| || || || || || || || || || ||
301- NC Post Licensing Exam with verified detailed answers
|| || || || || || || ||
Can an inactive agent be paid a referral commission if they were active at the time they
|| || || || || || || || || || || || || || || || ||
made the referral? - ✔✔Yes. If and only if they were active at time of referral
|| || || || || || || || || || || || || || ||
Must Dual Agency be in writing? - ✔✔Before an offer is made, Yes. Dual agency must be in
|| || || || || || || || || || || || || || || || || ||
writing and signed by both parties || || || || ||
At a listing appointment, the agent should be gathering all information for listing and what?
|| || || || || || || || || || || || || ||
- ✔✔Advertising
|| ||
May a BIC and their Provisional Broker enter into dual agency together? - ✔✔No. Because
|| || || || || || || || || || || || || || ||
the BIC oversees the PBs transactions, this would be a conflict of interest
|| || || || || || || || || || || ||
When must all agency be "Written" - ✔✔Prior to first offer
|| || || || || || || || || ||
Are all in-house transactions Dual Agency? - ✔✔No. The exceptions would be Seller Sub
|| || || || || || || || || || || || || ||
Agency or Unrepresented Buyers || || ||
Can The Real Estate Commission fine brokers? - ✔✔No. They can only reprimand,
|| || || || || || || || || || || || ||
suspend, and revoke licenses || || ||
Who can sue agents civilly for monetary compensation? - ✔✔Principles of a transaction
|| || || || || || || || || || || ||
If Dual Agency is not disclosed is a commission due? - ✔✔No. Therefore it is imperative to
|| || || || || || || || || || || || || || || || ||
disclose dual agency before any offers are written || || || || || || ||
, 2
As a dual agent, the agent's duties are reduced to what? - ✔✔Contractual Obligations
|| || || || || || || || || || || || ||
What must all agency agreements have? - ✔✔A beginning and ending date
|| || || || || || || || || || ||
Oral to Oral & Written to Written describe what? - ✔✔The permissions needed to show a
|| || || || || || || || || || || || || || || ||
property as a "Dual Agent" || || || ||
What should every agent bring to a listing appointment? - ✔✔Deed, Plot Map, Tax Info,
|| || || || || || || || || || || || || || ||
RPD, MOG, Listing Agreement (Several Other items)
|| || || || || ||
Who gets paid in an Exclusive Right to Sell listing agreement? - ✔✔The listing agent,
|| || || || || || || || || || || || || || ||
regardless of who brings a buyer, and likely the buyer agent || || || || || || || || || ||
Who gets paid in an exclusive listing agreement? - ✔✔Whomever brings a buyer
|| || || || || || || || || || || ||
Who can sell a property in an Open listing? - ✔✔Any actively licensed agent
|| || || || || || || || || || || || ||
In a net listing money above the asking price is paid to whom? - ✔✔Listing Agent
|| || || || || || || || || || || || || || ||
Who is the actual agent to the principle in a transaction? - ✔✔The Firm (Individual agents
|| || || || || || || || || || || || || || || ||
are sub agents to seller)
|| || || ||
No M.O.G. is needed for what 3 listings? - ✔✔Lease to purchase, 1st Dwelling, and
|| || || || || || || || || || || || || || ||
Foreclosure
When should WWREA be explained / signed? - ✔✔At first substantial contact
|| || || || || || || || || || ||
