NC Real Estate Post Licensing - 303|
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When is an active NC real estate license required? - Answer✅✅When any person or
entity is performing brokerage activities for consideration (payment) as an agent for
others
What brokerage activities require a person or firm to have a NC real estate license? -
Answer✅✅Listing, leasing, buying, exchanging, auctioning, negotiating, referring,
and selling. Also selling timeshares in advertising real property property in any
manner.
What activities do not require NC real estate license? - Answer✅✅1.business entity,
selling or leasing entity, owned property
2. attorney in fact
3. Court appointed
4. Trustee
5. W-2 employee of broker property management.
What is an example of permitted activities for an unlicensed assistant or inactive
licensee - Answer✅✅Clerical and administrative function, such as scheduling
appointments, computing commission checks for licenses receiving and forwarding
phone calls assisting with assembling documents for closing showing properties for
, lease filling in the blank on standard forms under the direction of and with
information provided by a licensed broker
What are examples of activities that an unlicensed assistant cannot perform? -
Answer✅✅Conducting an open house. Writing or creating promotional material,
showing properties for sale. receiving compensation for referring a customer to a
real estate licensee, soliciting listings
What does a full broker need in order to affiliate with multiple firms? -
Answer✅✅Permission from BICs at both firms
What are the annual continuing education requirements? - Answer✅✅For
Provisional Brokers and Brokers: GENUP and 4-hour elective by June 10; For BIC
Eligible Brokers and Designated BICs: BICUP and 4-hour elective by June 10.
What happens when a broker charges license is not renewed on time? -
Answer✅✅The firms license becomes inactive for brokers affiliated with the BIC are
still active, but at their home address and provisional brokers affiliated with the BIC
become inactive.
When is a newly licensed provisional broker required to complete their first annual
continuing education requirements? - Answer✅✅after their first license renewal
(before June 10 of the first full license year and before their second license renewal)
What are the requirements to obtain or be issued a firm license? -
Answer✅✅Authority from the NC Secretary of State to engage in business in North
Carolina, Firm application, Entity principles must satisfy character requirements,
Qualifying broker, BIC at every location.
What is required to be a qualifying broker? - Answer✅✅Qualifying brokers must be
a principle of the entity(work for them) and have an active real estate license.
What are the responsibilities of the qualifying broker? - Answer✅✅A point brokers
in charge, renew the firm license annually, notify the commission within 10 days of
any changes. The firms pocket card, Secure, transactional and trust account records
when the BIC changes.
What is a limited non-residential commercial license? - Answer✅✅A licensed that
allows another state to enter NC for the purpose of engaging in commercial
brokerage.
What are the requirements to obtain a limited non-residential commercial license? -
Answer✅✅Must not be a resident of North Carolina, must have an active real
estate license, and must be an individual not an entity or company
What documents are required before a limited non-residential commercial broker
can enter North Carolina to engage in commercial brokerage? -
Verified Exam Questions with 100%
Correct Clear Answers| All Graded
A+|Latest Premium Update|100%
Guaranteed Success.
When is an active NC real estate license required? - Answer✅✅When any person or
entity is performing brokerage activities for consideration (payment) as an agent for
others
What brokerage activities require a person or firm to have a NC real estate license? -
Answer✅✅Listing, leasing, buying, exchanging, auctioning, negotiating, referring,
and selling. Also selling timeshares in advertising real property property in any
manner.
What activities do not require NC real estate license? - Answer✅✅1.business entity,
selling or leasing entity, owned property
2. attorney in fact
3. Court appointed
4. Trustee
5. W-2 employee of broker property management.
What is an example of permitted activities for an unlicensed assistant or inactive
licensee - Answer✅✅Clerical and administrative function, such as scheduling
appointments, computing commission checks for licenses receiving and forwarding
phone calls assisting with assembling documents for closing showing properties for
, lease filling in the blank on standard forms under the direction of and with
information provided by a licensed broker
What are examples of activities that an unlicensed assistant cannot perform? -
Answer✅✅Conducting an open house. Writing or creating promotional material,
showing properties for sale. receiving compensation for referring a customer to a
real estate licensee, soliciting listings
What does a full broker need in order to affiliate with multiple firms? -
Answer✅✅Permission from BICs at both firms
What are the annual continuing education requirements? - Answer✅✅For
Provisional Brokers and Brokers: GENUP and 4-hour elective by June 10; For BIC
Eligible Brokers and Designated BICs: BICUP and 4-hour elective by June 10.
What happens when a broker charges license is not renewed on time? -
Answer✅✅The firms license becomes inactive for brokers affiliated with the BIC are
still active, but at their home address and provisional brokers affiliated with the BIC
become inactive.
When is a newly licensed provisional broker required to complete their first annual
continuing education requirements? - Answer✅✅after their first license renewal
(before June 10 of the first full license year and before their second license renewal)
What are the requirements to obtain or be issued a firm license? -
Answer✅✅Authority from the NC Secretary of State to engage in business in North
Carolina, Firm application, Entity principles must satisfy character requirements,
Qualifying broker, BIC at every location.
What is required to be a qualifying broker? - Answer✅✅Qualifying brokers must be
a principle of the entity(work for them) and have an active real estate license.
What are the responsibilities of the qualifying broker? - Answer✅✅A point brokers
in charge, renew the firm license annually, notify the commission within 10 days of
any changes. The firms pocket card, Secure, transactional and trust account records
when the BIC changes.
What is a limited non-residential commercial license? - Answer✅✅A licensed that
allows another state to enter NC for the purpose of engaging in commercial
brokerage.
What are the requirements to obtain a limited non-residential commercial license? -
Answer✅✅Must not be a resident of North Carolina, must have an active real
estate license, and must be an individual not an entity or company
What documents are required before a limited non-residential commercial broker
can enter North Carolina to engage in commercial brokerage? -
