©THESTAR EXAM SOLUTIONS 2024/2025
ALL RIGHTS RESERVED.
NC Post-Licensing Section 302 Exam
Questions With Correct Answers
Uniform Electronic Transactions Act (UETA) - answer✔(NC) UETA: Legislation validates
electronic contracts / other documents / and signatures. Provides that they will not be denied
validity & enforce-ability solely b/c they are in electronic form.
(Federal) E-Sign: Validates electronic contracts & signatures in transactions & provides they will
not be denied validity & enforce-ability solely b/c they are in electronic form.
Offer to Purchase & Contract - answer✔(Form 2-T)
The most common type of contract used for the sale of real property in NC.
Also called a sales or purchase contract.
1 - Installment Land Contract
2 - Option to Purchase Contract
SALES contracts can only be drafted by LAWYERS!!!
Formed jointly between the NC Bar and the NC Realtors.
Who must sign the offer to purchase & contract - answer✔All parties involved MUST sign the
contract
The legal effect of a counter offer - answer✔A counter offer is a rejection of the offer and is
considered to be a new offer.
Counteroffer - answer✔An offer made to an original offer which contains NEW or DIFFERENT
TERMS/CONDITIONS not included in the original offer.
The counteroffer (once COMMUNICATED) has the effect of rejecting the original offer which
cannot subsequently be accepted unless renewed by the original offer.
Type of contract used on single-family homes? - answer✔Standard Offer to Purchase &
Contract
Type of contract used on 5+ dwellings? - answer✔Must use a commercial contract
1|Page
, ©THESTAR EXAM SOLUTIONS 2024/2025
ALL RIGHTS RESERVED.
How do you form a CONTRACT? - answer✔1 - Offeror (buyer) makes an offer to the Offeree
(seller)
2 - the Offeree accepts the offer
3 - The offeree communicates to the buyer acceptance of offer
IF NOT COMMUNICATED = NO DEAL
COMMUNICATION OCCURS EITHER TO THE AGENT / PARTY (TREATED AS THE SAME!!!!)
Communication? - answer✔Use of any LEGAL method
1 - Verbal
2 - Personal Delivery
3 - Mail
4 - Fax/Electronic Communication format
When anything is communicated to the AGENT it is the SAME as if it has been communicated to
the CLIENT!!!!
MAILBOX RULE - answer✔Rule of law that states once an offeree's written acceptance is mailed
(PLACED IN THE POSTAL SERVICE OUTSIDE THE CONTROL OF THE OFFEREE!!!)
The offer is considered ACCEPTED as of the date/time of the mailing (even though the actual
acceptance of the offer is not received for several days)
The offeror CANNOT withdraw or revoke his offer AFTER an acceptance has been mailed
The offeree CANNOT withdraw or revoke his acceptance after it has been mailed.
Types of forms (contracts) allowed - answer✔1 - Most common (2-T)
2 - Any other legally created one (then that is the only form that is used)
*** Talk to an attorney if any unusual or bizarre questions / items.
*** Client may do anything that they would like to a contract as long as it is their hand that is
making ANY changes to the document.
3 Required Dates on Contracts (A012) - answer✔1 - Date of Offer
2 - Date of Acceptance
3 - Date of Settlement
Buyer does NOT show up at closing - answer✔14 day window
2|Page
ALL RIGHTS RESERVED.
NC Post-Licensing Section 302 Exam
Questions With Correct Answers
Uniform Electronic Transactions Act (UETA) - answer✔(NC) UETA: Legislation validates
electronic contracts / other documents / and signatures. Provides that they will not be denied
validity & enforce-ability solely b/c they are in electronic form.
(Federal) E-Sign: Validates electronic contracts & signatures in transactions & provides they will
not be denied validity & enforce-ability solely b/c they are in electronic form.
Offer to Purchase & Contract - answer✔(Form 2-T)
The most common type of contract used for the sale of real property in NC.
Also called a sales or purchase contract.
1 - Installment Land Contract
2 - Option to Purchase Contract
SALES contracts can only be drafted by LAWYERS!!!
Formed jointly between the NC Bar and the NC Realtors.
Who must sign the offer to purchase & contract - answer✔All parties involved MUST sign the
contract
The legal effect of a counter offer - answer✔A counter offer is a rejection of the offer and is
considered to be a new offer.
Counteroffer - answer✔An offer made to an original offer which contains NEW or DIFFERENT
TERMS/CONDITIONS not included in the original offer.
The counteroffer (once COMMUNICATED) has the effect of rejecting the original offer which
cannot subsequently be accepted unless renewed by the original offer.
Type of contract used on single-family homes? - answer✔Standard Offer to Purchase &
Contract
Type of contract used on 5+ dwellings? - answer✔Must use a commercial contract
1|Page
, ©THESTAR EXAM SOLUTIONS 2024/2025
ALL RIGHTS RESERVED.
How do you form a CONTRACT? - answer✔1 - Offeror (buyer) makes an offer to the Offeree
(seller)
2 - the Offeree accepts the offer
3 - The offeree communicates to the buyer acceptance of offer
IF NOT COMMUNICATED = NO DEAL
COMMUNICATION OCCURS EITHER TO THE AGENT / PARTY (TREATED AS THE SAME!!!!)
Communication? - answer✔Use of any LEGAL method
1 - Verbal
2 - Personal Delivery
3 - Mail
4 - Fax/Electronic Communication format
When anything is communicated to the AGENT it is the SAME as if it has been communicated to
the CLIENT!!!!
MAILBOX RULE - answer✔Rule of law that states once an offeree's written acceptance is mailed
(PLACED IN THE POSTAL SERVICE OUTSIDE THE CONTROL OF THE OFFEREE!!!)
The offer is considered ACCEPTED as of the date/time of the mailing (even though the actual
acceptance of the offer is not received for several days)
The offeror CANNOT withdraw or revoke his offer AFTER an acceptance has been mailed
The offeree CANNOT withdraw or revoke his acceptance after it has been mailed.
Types of forms (contracts) allowed - answer✔1 - Most common (2-T)
2 - Any other legally created one (then that is the only form that is used)
*** Talk to an attorney if any unusual or bizarre questions / items.
*** Client may do anything that they would like to a contract as long as it is their hand that is
making ANY changes to the document.
3 Required Dates on Contracts (A012) - answer✔1 - Date of Offer
2 - Date of Acceptance
3 - Date of Settlement
Buyer does NOT show up at closing - answer✔14 day window
2|Page
