Superior Real Estate School Exam
Questions with Correct
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A disclosure of agency status should be made by a buyer's agent to the seller: l.
With a written confirmation in the offer to purchase and contract ll. At the initial
contact with the seller's agent, orally or in writing
A. l only
B. ll only
C. Both l and ll
D. Neither l nor ll - ANSWER ✓ C. Both l and ll
Which of the following would be dual agency?
A. a broker-in-charge assisting a buyer client in the purchase of property that was
listed by a provisional broker of another firm
B. a provisional broker and a broker licensee from firms that are cooperating in a
transaction
C. a firm that represents buyers and sellers
D. a broker having a buyer client for a property the broker personally listed -
ANSWER ✓ D. a broker having a buyer client for a property the broker personally
listed
A parcel of vacant land 80 feet wide and 200 feet deep was sold for $200 per front
foot. How much money would an individual agent receive for a 60% share of the
10% commission earned?
A. $640
B. $960
C. $1,600
,D. $2,400 - ANSWER ✓ B. $960
A buyer-client has instructed the agent to show only properties where the seller is
willing to pay the buyer agent's commission. The agent contacts an owner selling a
property without the assistance of a real estate agent with the hope that the seller
would be willing to pay her commission if the buyer decided to purchase the
seller's property. In order to comply with North Carolina Real Estate Commission
Rules, the agent must do all of the following, EXCEPT:
A. obtain permission from her buyer-client in order to obtain compensation from
the seller
B. disclose her agency status to the seller at initial contact
C. convince the seller to list with her and authorize dual agency
D. provide the Working with Real Estate Agents brochure to the seller - ANSWER
✓ C. convince the seller to list with her and authorize dual agency
If the broker-in-charge (BIC) is to act as one of the designated agents on a North
Carolina in-house transaction, which of the following may be appointed as a
designated agent for the other party to the transaction?
A. an actively licensed provisional broker within the firm, so long as disclosure is
made to both clients
B. a full broker within the firm who has no prior confidential knowledge of the
party that the BIC will represent
C. a broker-in-charge cannot be appointed as a designated agent
D. a licensed broker who has prior confidential knowledge about the party that the
BIC will represent - ANSWER ✓ B. a full broker within the firm who has no prior
confidential knowledge of the party that the BIC will represent
A licensee is an actively licensed real estate broker who has a written contract
with his firm that specifies that he will not be treated like an employee. The
licensee's entire income is from sales commissions rather than an hourly wage.
Based on these facts, the licensee will be treated by the IRS as:
A. a real estate assistant
B. an employee
C. subagent
D. an independent contractor - ANSWER ✓ D. an independent contractor
,All of the following are TRUE regarding the North Carolina Working With Real
Estate Agents brochure, EXCEPT:
A. the consumer is not required to sign the brochure
B. if the first substantial contact is by phone, the brochure must be provided within
3 calendar days
C. the brochure's use is mandatory in all real estate transactions, including
residential sales, commercial transactions and property management
D. the brochure must be given in all sales transactions at first substantial contact -
ANSWER ✓ C. the brochure's use is mandatory in all real estate transactions,
including residential sales, commercial transactions and property management
All of the following are exempt from the requirement to provide an RPOADS and
MOG, EXCEPT:
A. Transfers between spouses
B. First sale of a dwelling not yet inhabited
C. Both parties agree not to complete the form
D. A For Sale by Owner - ANSWER ✓ D. A For Sale by Owner
The fact that the NC listing agreement and buyer agency agreement must be in
writing is required by:
A. Statute of Frauds
B. Commission Rule
C. Conner Act
D. Contract law - ANSWER ✓ B. Commission Rule
A licensee has just discovered a major roofing leak in one of his current listings
even though the seller has indicated "no representation" on the Residential
Property Disclosure Statement. The listing agent does not inform the selling agent
of the defect and since the defect, is hidden, the selling agent does not discover or
disclose the problem to the buyer. According to the North Carolina Real Estate
Commission, who is held responsible for this nondisclosure?
A. the listing agent
B. he listing broker and the selling broker
C. the seller and the listing agent
D. the seller - ANSWER ✓ A. the listing agent
, Which of the following is TRUE about the North Carolina Residential Property
Disclosure Act?
A. All agents in the transaction should facilitate the timely delivery of the property
disclosure report to the buyer.
B. The property owner should disclose the condition of the listed property or be
subject to a 3-day rescission period on any contract formed.
C. All residential sellers are exempt from this act unless a broker is not involved in
the transaction.
D. Buyers must receive the completed disclosure report no later than the beginning
of the due diligence period. - ANSWER ✓ A. All agents in the transaction should
facilitate the timely delivery of the property disclosure report to the buyer.
Earnest money deposits, when paid in the form of a personal check given on an
Offer to Purchase and Contract, must be deposited in an escrow account:
A. no later than three banking days after acceptance of contract
B. no later than 72 hours after receipt of money
C. no later than three business days after receipt of the money
D. no later than 72 hours after acceptance of contract - ANSWER ✓ A. no later
than three banking days after acceptance of contract
A seller sold his property for $97,000. He made a 321.74% profit. What was the
purchase price of the property?
A. $13,000
B. $23,000
C.$74,000
D. $97,000 - ANSWER ✓ B. $23,000
Which of the following statement(s) is/are true? l. In a breach of a sales contract,
the earnest money deposit is considered liquidated damages. ll. In a breach of a
sales contract, liquidated damages are an agreed upon amount of money the parties
agree to accept in the event of breach.
A. l only
B. ll only
C. Both l and ll
Questions with Correct
Solutions||Already Graded
A+||Updated 2025/2026||100%
Guaranteed Pass!!||<<NEWEST
VERSION>>||
A disclosure of agency status should be made by a buyer's agent to the seller: l.
With a written confirmation in the offer to purchase and contract ll. At the initial
contact with the seller's agent, orally or in writing
A. l only
B. ll only
C. Both l and ll
D. Neither l nor ll - ANSWER ✓ C. Both l and ll
Which of the following would be dual agency?
A. a broker-in-charge assisting a buyer client in the purchase of property that was
listed by a provisional broker of another firm
B. a provisional broker and a broker licensee from firms that are cooperating in a
transaction
C. a firm that represents buyers and sellers
D. a broker having a buyer client for a property the broker personally listed -
ANSWER ✓ D. a broker having a buyer client for a property the broker personally
listed
A parcel of vacant land 80 feet wide and 200 feet deep was sold for $200 per front
foot. How much money would an individual agent receive for a 60% share of the
10% commission earned?
A. $640
B. $960
C. $1,600
,D. $2,400 - ANSWER ✓ B. $960
A buyer-client has instructed the agent to show only properties where the seller is
willing to pay the buyer agent's commission. The agent contacts an owner selling a
property without the assistance of a real estate agent with the hope that the seller
would be willing to pay her commission if the buyer decided to purchase the
seller's property. In order to comply with North Carolina Real Estate Commission
Rules, the agent must do all of the following, EXCEPT:
A. obtain permission from her buyer-client in order to obtain compensation from
the seller
B. disclose her agency status to the seller at initial contact
C. convince the seller to list with her and authorize dual agency
D. provide the Working with Real Estate Agents brochure to the seller - ANSWER
✓ C. convince the seller to list with her and authorize dual agency
If the broker-in-charge (BIC) is to act as one of the designated agents on a North
Carolina in-house transaction, which of the following may be appointed as a
designated agent for the other party to the transaction?
A. an actively licensed provisional broker within the firm, so long as disclosure is
made to both clients
B. a full broker within the firm who has no prior confidential knowledge of the
party that the BIC will represent
C. a broker-in-charge cannot be appointed as a designated agent
D. a licensed broker who has prior confidential knowledge about the party that the
BIC will represent - ANSWER ✓ B. a full broker within the firm who has no prior
confidential knowledge of the party that the BIC will represent
A licensee is an actively licensed real estate broker who has a written contract
with his firm that specifies that he will not be treated like an employee. The
licensee's entire income is from sales commissions rather than an hourly wage.
Based on these facts, the licensee will be treated by the IRS as:
A. a real estate assistant
B. an employee
C. subagent
D. an independent contractor - ANSWER ✓ D. an independent contractor
,All of the following are TRUE regarding the North Carolina Working With Real
Estate Agents brochure, EXCEPT:
A. the consumer is not required to sign the brochure
B. if the first substantial contact is by phone, the brochure must be provided within
3 calendar days
C. the brochure's use is mandatory in all real estate transactions, including
residential sales, commercial transactions and property management
D. the brochure must be given in all sales transactions at first substantial contact -
ANSWER ✓ C. the brochure's use is mandatory in all real estate transactions,
including residential sales, commercial transactions and property management
All of the following are exempt from the requirement to provide an RPOADS and
MOG, EXCEPT:
A. Transfers between spouses
B. First sale of a dwelling not yet inhabited
C. Both parties agree not to complete the form
D. A For Sale by Owner - ANSWER ✓ D. A For Sale by Owner
The fact that the NC listing agreement and buyer agency agreement must be in
writing is required by:
A. Statute of Frauds
B. Commission Rule
C. Conner Act
D. Contract law - ANSWER ✓ B. Commission Rule
A licensee has just discovered a major roofing leak in one of his current listings
even though the seller has indicated "no representation" on the Residential
Property Disclosure Statement. The listing agent does not inform the selling agent
of the defect and since the defect, is hidden, the selling agent does not discover or
disclose the problem to the buyer. According to the North Carolina Real Estate
Commission, who is held responsible for this nondisclosure?
A. the listing agent
B. he listing broker and the selling broker
C. the seller and the listing agent
D. the seller - ANSWER ✓ A. the listing agent
, Which of the following is TRUE about the North Carolina Residential Property
Disclosure Act?
A. All agents in the transaction should facilitate the timely delivery of the property
disclosure report to the buyer.
B. The property owner should disclose the condition of the listed property or be
subject to a 3-day rescission period on any contract formed.
C. All residential sellers are exempt from this act unless a broker is not involved in
the transaction.
D. Buyers must receive the completed disclosure report no later than the beginning
of the due diligence period. - ANSWER ✓ A. All agents in the transaction should
facilitate the timely delivery of the property disclosure report to the buyer.
Earnest money deposits, when paid in the form of a personal check given on an
Offer to Purchase and Contract, must be deposited in an escrow account:
A. no later than three banking days after acceptance of contract
B. no later than 72 hours after receipt of money
C. no later than three business days after receipt of the money
D. no later than 72 hours after acceptance of contract - ANSWER ✓ A. no later
than three banking days after acceptance of contract
A seller sold his property for $97,000. He made a 321.74% profit. What was the
purchase price of the property?
A. $13,000
B. $23,000
C.$74,000
D. $97,000 - ANSWER ✓ B. $23,000
Which of the following statement(s) is/are true? l. In a breach of a sales contract,
the earnest money deposit is considered liquidated damages. ll. In a breach of a
sales contract, liquidated damages are an agreed upon amount of money the parties
agree to accept in the event of breach.
A. l only
B. ll only
C. Both l and ll
