NC Post Licensing 303 Exam 2026
Questions and Answers
Commercial purchase contract - Correct answer-vary widely, inspections or due
diligent are key, no standard contract
Commercial Due Diligence - Correct answer-Free look, no risk, determined by
buyer and seller
BPO-Broker Price Opinion Analysis - Correct answer-Contains a market analysis
and derives value from capitalization rates
Capitalization formula - Correct answer-I/R*V
Value=NOI/Rate
Potential Gross Income - Correct answer-Vacancy Collection losses
Additional income
Effective gross income - Correct answer-Operating expenses
©COPYRIGHT 2025, ALL RIGHTS RESERVED 1
, Net operating income - Correct answer-Debt service(mortgage), Capital
expenditures reserves commissions
Ground Lease - Correct answer-Dirt owners dream, common arrangements,
costals, lake, reservations, hong kong is the world's largest
Common Ground Lease Provision - Correct answer-Often Allowed construction of
a building typically in the lease get to deduct rent as business expenses
Full-Service Lease - Correct answer-Lease includes services, base rent + prorated
expenses + utilities & services, lessor pays expenses, but they are shared among
tenants, rent is usually higher than other leases, CAMs
CAMs - Correct answer-Common area maintenance charges shared by all tenants
Landlord - Correct answer-Lessor of the property; agents that have actual or
apparent authority over the property
Smoke & Carbon Monoxide Detectors - Correct answer-Smoke Mandatory,
Carbon attached garage and fossil fuel appliances, landlord must install 10yr
lithium batteries or hard wire; tenant replace batteries during the lease
Constructive Eviction - Correct answer-Landlord Breach-Failure to maintain;
Heath & safety. Tenant must move and relinquish possession.
©COPYRIGHT 2025, ALL RIGHTS RESERVED 2
Questions and Answers
Commercial purchase contract - Correct answer-vary widely, inspections or due
diligent are key, no standard contract
Commercial Due Diligence - Correct answer-Free look, no risk, determined by
buyer and seller
BPO-Broker Price Opinion Analysis - Correct answer-Contains a market analysis
and derives value from capitalization rates
Capitalization formula - Correct answer-I/R*V
Value=NOI/Rate
Potential Gross Income - Correct answer-Vacancy Collection losses
Additional income
Effective gross income - Correct answer-Operating expenses
©COPYRIGHT 2025, ALL RIGHTS RESERVED 1
, Net operating income - Correct answer-Debt service(mortgage), Capital
expenditures reserves commissions
Ground Lease - Correct answer-Dirt owners dream, common arrangements,
costals, lake, reservations, hong kong is the world's largest
Common Ground Lease Provision - Correct answer-Often Allowed construction of
a building typically in the lease get to deduct rent as business expenses
Full-Service Lease - Correct answer-Lease includes services, base rent + prorated
expenses + utilities & services, lessor pays expenses, but they are shared among
tenants, rent is usually higher than other leases, CAMs
CAMs - Correct answer-Common area maintenance charges shared by all tenants
Landlord - Correct answer-Lessor of the property; agents that have actual or
apparent authority over the property
Smoke & Carbon Monoxide Detectors - Correct answer-Smoke Mandatory,
Carbon attached garage and fossil fuel appliances, landlord must install 10yr
lithium batteries or hard wire; tenant replace batteries during the lease
Constructive Eviction - Correct answer-Landlord Breach-Failure to maintain;
Heath & safety. Tenant must move and relinquish possession.
©COPYRIGHT 2025, ALL RIGHTS RESERVED 2
