NC REAL ESTATE EXAM QUESTIONS WITH
100% ACCURATE ANSWERS
Which statute governs the ad valorem taxation of property?
A. Machinery Act
B. General Statute
C. The Ad Valorem Act
D. Real Estate Taxation Act - Accurate answers 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 - Accurate answers 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
D. None of the above - Accurate answers 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 - Accurate answers 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 - Accurate answers B) Mechanic's lien
This type of lien is typically used to guarantee of payment to builders, contractors, and construction
firms
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 - Accurate answers 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 - Accurate answers 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
B. They are responsible for overseeing the licensing and regulating of real estate agents in North
Carolina
C. They are a private agency created to protect the real estate industry in the state of North Carolina
D. None of the above - Accurate answers B) They are responsible for overseeing the licensing and
regulating of real estate agents in North Carolina
This is an independent sate governmental agency that oversees over 80,000 agents. They manage
licensing requirement, laws, exams, renewal information, forms, and more.
Which non-profit trade association represents 46 local real estate associations in North Carolina and
provides opportunities and resources that aid the members?
A. North Carolina Association of Real Estate Brokers
B. National Association of Real Estate Brokers
C. The Association of Real Estate License Law Officials
100% ACCURATE ANSWERS
Which statute governs the ad valorem taxation of property?
A. Machinery Act
B. General Statute
C. The Ad Valorem Act
D. Real Estate Taxation Act - Accurate answers 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 - Accurate answers 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
D. None of the above - Accurate answers 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 - Accurate answers 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 - Accurate answers B) Mechanic's lien
This type of lien is typically used to guarantee of payment to builders, contractors, and construction
firms
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 - Accurate answers 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 - Accurate answers 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
B. They are responsible for overseeing the licensing and regulating of real estate agents in North
Carolina
C. They are a private agency created to protect the real estate industry in the state of North Carolina
D. None of the above - Accurate answers B) They are responsible for overseeing the licensing and
regulating of real estate agents in North Carolina
This is an independent sate governmental agency that oversees over 80,000 agents. They manage
licensing requirement, laws, exams, renewal information, forms, and more.
Which non-profit trade association represents 46 local real estate associations in North Carolina and
provides opportunities and resources that aid the members?
A. North Carolina Association of Real Estate Brokers
B. National Association of Real Estate Brokers
C. The Association of Real Estate License Law Officials
