NC Real Estate Exam Questions with 100% Verified
Answers Graded A+
Which statute governs the ad valorem taxation of property?
Page | 1
A. Machinery Act
B. General Statute
C. The Ad Valorem Act
D. Real Estate Taxation Act - -A. Machinery Act
This act provides a framework for listing, appraising, and assessing real and personal
property
Which type of valuation technique applies a standard percentage increase or decrease to
all property in a specified location?
A. Valuation
B. County appraisal
C. Mass appraisal
D. There is no such appraisal - -C. Mass Appraisal
This is a valuation technique that is sometimes used for tax assessment purposes. It is also
referred to as a horizontal adjustment.
What is am octennial reappraisal?
, A. Grouping reappraisals by square footage and year built
B. The statutory reappraisal of all real property in North Carolina for tax purposes
C. Reappraisals done in groups of eight
Page | 2
D. None of the above - -B. The statutory reappraisal of all real property in North
Carolina for tax purposes.
This is an octennial reappraisal and requires all counties to reappraise property within in a
specified time period.
The ______ is responsible for real estate licensing.
A. Federal Real Estate Commission
B. Housing and Urban Development
C. North Carolina Real Estate Commission (NCREC)
D. County Clerks Office - -C. North Carolina Real Estate Commission (NCREC)
This commission is responsible for real estate licensees, education, and other resources
regarding real estate in the state of North Carolina.
Which type of lien provides security to persons that work on real property owned by others?
A. Mortgage lien
B. Mechanic's lien
C. Real estate tax lien
D. State income tax lien - -B) Mechanic's lien
, This type of lien is typically used to guarantee of payment to builders, contractors, and
construction firms
Page | 3 Which of the following is a requirement to become a real estate broker in North Carolina?
A. 18 years of age
B. 90 hours of real estate courses
C. Payment of an application fee
D. All of the above - -D) All of the above
All of the above are requirements to become a real estate agent in North Carolina. The real
estate courses must be approved and in a classroom setting.
Which type of broker licence status category is "entry level" and requires supervision?
A. Provisional broker
B. Broker in charge
C.Broker
D. There is no such license status category - -A) Provisional broker
This is an entry level license status and only requires 75 hours of pre-licensing education
and passing of the license examination
Which statement is true about the North Carolina Real Estate Commission?
A. There are a not-for-profit firm that manages real estate agents
Answers Graded A+
Which statute governs the ad valorem taxation of property?
Page | 1
A. Machinery Act
B. General Statute
C. The Ad Valorem Act
D. Real Estate Taxation Act - -A. Machinery Act
This act provides a framework for listing, appraising, and assessing real and personal
property
Which type of valuation technique applies a standard percentage increase or decrease to
all property in a specified location?
A. Valuation
B. County appraisal
C. Mass appraisal
D. There is no such appraisal - -C. Mass Appraisal
This is a valuation technique that is sometimes used for tax assessment purposes. It is also
referred to as a horizontal adjustment.
What is am octennial reappraisal?
, A. Grouping reappraisals by square footage and year built
B. The statutory reappraisal of all real property in North Carolina for tax purposes
C. Reappraisals done in groups of eight
Page | 2
D. None of the above - -B. The statutory reappraisal of all real property in North
Carolina for tax purposes.
This is an octennial reappraisal and requires all counties to reappraise property within in a
specified time period.
The ______ is responsible for real estate licensing.
A. Federal Real Estate Commission
B. Housing and Urban Development
C. North Carolina Real Estate Commission (NCREC)
D. County Clerks Office - -C. North Carolina Real Estate Commission (NCREC)
This commission is responsible for real estate licensees, education, and other resources
regarding real estate in the state of North Carolina.
Which type of lien provides security to persons that work on real property owned by others?
A. Mortgage lien
B. Mechanic's lien
C. Real estate tax lien
D. State income tax lien - -B) Mechanic's lien
, This type of lien is typically used to guarantee of payment to builders, contractors, and
construction firms
Page | 3 Which of the following is a requirement to become a real estate broker in North Carolina?
A. 18 years of age
B. 90 hours of real estate courses
C. Payment of an application fee
D. All of the above - -D) All of the above
All of the above are requirements to become a real estate agent in North Carolina. The real
estate courses must be approved and in a classroom setting.
Which type of broker licence status category is "entry level" and requires supervision?
A. Provisional broker
B. Broker in charge
C.Broker
D. There is no such license status category - -A) Provisional broker
This is an entry level license status and only requires 75 hours of pre-licensing education
and passing of the license examination
Which statement is true about the North Carolina Real Estate Commission?
A. There are a not-for-profit firm that manages real estate agents
