NC Real Estate Exam Study Guide latest 2025/2026
When did it become mandatory to have a license to do real estate? July
1, 1957
Who issues licenses? NC real estate commission
Do you have to be licensed to get paid for referrals? Yes, you must
have an active license
Brokerage activities requiring a license 1. Listing/offering to list real
estate for sale/rent
2. Selling/buying or offering to sell/buy
3. Leasing/renting or offering to lease/rent
4. Conducting/offering to conduct a real estate auction
5. Selling/buying/leasing/assigning/exchanging interest in real estate in
connection w/sale or purchase of business
Activities exempt from licensing requirement 1. Owners/lessors
2. Attorney-in-fact
3. Receiver, trustee, guardian, administrator, executor, person acting
under court order
4. Attorney who is a member of the NC state bar
5. Salaried employee of broker
6. Business entity
Allowed activities of unlicensed, salaried employee 1. Receive/forward
calls and messages to broker
2. Submit listings/changes compiled by broker to MLS
3. Get public records
4. Place for sale signs and lock boxes on property
,5. Deliver and pick up documents
6. Give basic info to prospective buyers
7. Coordinate and confirm appointments
8. Show rental properties and fill out leases
9. Type offers, contracts, and leases that are preprinted
10. Record and deposit earnest money
11. Help assemble closing documents
12. Give commission checks
Broker Us! In charge
Provisional broker Entry level. Must be supervised by BIC. Temporary
status. Must complete PLE to bc broker
Applies to anyone who was issued a license on or after April 1 2006
BIC Supervises provisional brokers at a certain office. Every office must
have one
Separate license category
BIC qualifications Active license
2 years full-time or 5 years part-time equivalent
Complete 12 hr BIC course within 120 days of designation
Limited non-resident commercial broker Must be affiliated with an NC
firm and supervised by an NC broker
Separate license
Firm license License for business entity
Purpose of NC real estate commission To protect the public from real
estate brokers
How many members are there in the commission? 9 members
,Who appoints members to the NC real estate commission? 7
appointed by Governor
1 by general assembly upon recommendation of President pro tempore of
Senate
1 by general assembly upon recommendation of speaker of house of
representatives
How many members of the commission must be licensed real estate
brokers? 3
How many members of the commission must be members of the public
who aren't real estate licensed? 2
How long are terms of members on the commission? 3 years
How many members' terms expire every year? 3
Who elects chairman? Members
How long is the chairman's term? One year
Who removes members if they are found guilty of misconduct,
incompetency, or willful neglect? The governor
Who fills vacancies in the commission? The governor
What are the powers of the commission? 1. Licensing brokers and
firms
2. Registering time share projects
3. Establishing and administering PLE and CE programs
4. Providing education and info on real estate to licensees and to the
public
5. Regulating business activity of brokers and firms
6. Disciplining violators of the law or of the commission rules
What are the specific disciplinary measures that the commission can take?
1. Reprimand
, 2. Censure
3. Suspend license
4. Revoke license
5. Seek injunctive relief
Ways to prove you are licensed? 1. Renewal pocket card
2. License certificate
Where are renewal pocket cards kept? For a broker - on their person
For a firm - at the firm
Where are license certificates kept? For a BIC - in each office where
they are BIC
For a firm - in each office maintained by firm
Where should licensees put their license number as proof of licensure?
On agency contracts and disclosures
How long do licensees have to submit a change of name or address?
Within 10 days of change
How long do licensees have to report criminal convictions? Within 60
days of final judgment
What day do licenses expire? June 30th
When should you renew your license? Within 45 days prior to expiration
How do you renew your license? File an application and pay the license
fee of $30 to the commission
Who sets the renewal fee? The commission
What is the maximum amount that the renewal fee can be? $50
Can't increase more than $5 within a 12 month period
Fee for reinstatement of expired license $55
How long does a licensee have to reinstate an expired license? 6 months
When did it become mandatory to have a license to do real estate? July
1, 1957
Who issues licenses? NC real estate commission
Do you have to be licensed to get paid for referrals? Yes, you must
have an active license
Brokerage activities requiring a license 1. Listing/offering to list real
estate for sale/rent
2. Selling/buying or offering to sell/buy
3. Leasing/renting or offering to lease/rent
4. Conducting/offering to conduct a real estate auction
5. Selling/buying/leasing/assigning/exchanging interest in real estate in
connection w/sale or purchase of business
Activities exempt from licensing requirement 1. Owners/lessors
2. Attorney-in-fact
3. Receiver, trustee, guardian, administrator, executor, person acting
under court order
4. Attorney who is a member of the NC state bar
5. Salaried employee of broker
6. Business entity
Allowed activities of unlicensed, salaried employee 1. Receive/forward
calls and messages to broker
2. Submit listings/changes compiled by broker to MLS
3. Get public records
4. Place for sale signs and lock boxes on property
,5. Deliver and pick up documents
6. Give basic info to prospective buyers
7. Coordinate and confirm appointments
8. Show rental properties and fill out leases
9. Type offers, contracts, and leases that are preprinted
10. Record and deposit earnest money
11. Help assemble closing documents
12. Give commission checks
Broker Us! In charge
Provisional broker Entry level. Must be supervised by BIC. Temporary
status. Must complete PLE to bc broker
Applies to anyone who was issued a license on or after April 1 2006
BIC Supervises provisional brokers at a certain office. Every office must
have one
Separate license category
BIC qualifications Active license
2 years full-time or 5 years part-time equivalent
Complete 12 hr BIC course within 120 days of designation
Limited non-resident commercial broker Must be affiliated with an NC
firm and supervised by an NC broker
Separate license
Firm license License for business entity
Purpose of NC real estate commission To protect the public from real
estate brokers
How many members are there in the commission? 9 members
,Who appoints members to the NC real estate commission? 7
appointed by Governor
1 by general assembly upon recommendation of President pro tempore of
Senate
1 by general assembly upon recommendation of speaker of house of
representatives
How many members of the commission must be licensed real estate
brokers? 3
How many members of the commission must be members of the public
who aren't real estate licensed? 2
How long are terms of members on the commission? 3 years
How many members' terms expire every year? 3
Who elects chairman? Members
How long is the chairman's term? One year
Who removes members if they are found guilty of misconduct,
incompetency, or willful neglect? The governor
Who fills vacancies in the commission? The governor
What are the powers of the commission? 1. Licensing brokers and
firms
2. Registering time share projects
3. Establishing and administering PLE and CE programs
4. Providing education and info on real estate to licensees and to the
public
5. Regulating business activity of brokers and firms
6. Disciplining violators of the law or of the commission rules
What are the specific disciplinary measures that the commission can take?
1. Reprimand
, 2. Censure
3. Suspend license
4. Revoke license
5. Seek injunctive relief
Ways to prove you are licensed? 1. Renewal pocket card
2. License certificate
Where are renewal pocket cards kept? For a broker - on their person
For a firm - at the firm
Where are license certificates kept? For a BIC - in each office where
they are BIC
For a firm - in each office maintained by firm
Where should licensees put their license number as proof of licensure?
On agency contracts and disclosures
How long do licensees have to submit a change of name or address?
Within 10 days of change
How long do licensees have to report criminal convictions? Within 60
days of final judgment
What day do licenses expire? June 30th
When should you renew your license? Within 45 days prior to expiration
How do you renew your license? File an application and pay the license
fee of $30 to the commission
Who sets the renewal fee? The commission
What is the maximum amount that the renewal fee can be? $50
Can't increase more than $5 within a 12 month period
Fee for reinstatement of expired license $55
How long does a licensee have to reinstate an expired license? 6 months
