Post Licensing 303 Exam 2024 Questions & Answers 100% solved!

Who needs a broker's license? - ANSWERSA license is required for any person or business entity, who for compensation; Lists, Leases, Buys, Exchanges, Auctions, Negotiates, or Sells real property, for others for compensation. Is an active real estate license required to sell Time Shares in NC? - ANSWERSyes A license is NOT required for: - ANSWERS-a business leasing their OWN real property; i.e., apartments, FSBO -attorneys practicing law -a person acting under a Power of Attorney A broker's relationship with their client can best be described as: - ANSWERSfiduciary Is a license required for showing rental property owned by others AND collecting rent/security deposits? - ANSWERSno, as long as the unlicensed person is a salaried employee of a broker Is a license required for inputting a company listing into the MLS for a broker? - ANSWERSno Is a license required for selling your privately owned timeshare? - ANSWERSno Is a license required for negotiating a vacation rental price for a homeowner and tenant? - ANSWERSyes Is a license required for managing rental property for a family member in exchange for free rent? - ANSWERSyes What's a requirement to move from inactive status to active status? - ANSWERSaffiliation with a supervising BIC Who must actively supervise a provisional broker? - ANSWERSa designated Broker-in-Charge (BIC) You may dual affiliate with: - ANSWERSpermission of both BICs R