NC Real Estate Exam- State Portion; Questions with Complete Solutions

NC Real Estate Exam- State Portion; Questions
with Complete Solutions
Activities Requiring a License ✔✔Persons AND business entities, who for

CONSIDERATION


or the promise thereof perform BROKERAGE ACTIVITIES as an agent FOR

OTHERS are


considered to be performing brokerage activities and must have a license.


Referrals for compensation ✔✔Requires an active license


Selling time shares ✔✔Requires an active license


Advertising ✔✔In ANY manner (to include a business card), requires an active

license


Business Entities/Firm License ✔✔ANY corporation, partnership, Limited

Liability Company,


association or other business entity (other than a sole proprietorship) MUST

obtain a separate


(firm) license.


Exempt Activities ✔✔-Business entity

, NC Real Estate Exam- State Portion; Questions
with Complete Solutions
-Attorney in Fact


-Attorney at Law

-Receiver/Trustee


-Salaried Employees of Broker-Property Managers


-Owner


-Housing Authority


-Auctioneer (the mere "crier" of a sale is exempt


Permitted Activities of Unlicensed Assistants ✔✔-SHOW "rental" properties

managed by the


employee's empoying broker to prospective tenants


-COMPLETE and execute pre-printed form leases for rental of such properties


-TYPE offers, contracts & leases from drafts of pre-printed forms completed by a

licensee.


-MAY act as a bookkeeper for the firm's Trust Account