2
NC Post Licensing 301 Exam 1 wit5h verified detailed answers
|| || || || || || || || ||
1/50 Under which of the following circumstances would the client and agent most likely
|| || || || || || || || || || || || || ||
mutually agree to terminate a listing? || || || || ||
a A buyer approached the seller with a much higher offer than the current listing price.
|| || || || || || || || || || || || || || ||
b The agent and client don't agree on the best way to price, maintain, and market the
|| || || || || || || || || || || || || || || || ||
property.
c The client has found a buyer and wants to avoid paying a commission.
|| || || || || || || || || || || || ||
d The client's cousin just became licensed and needs her first listing.
|| || || || || || || || || || ||
b The agent and client don't agree on the best way to price, maintain, and market the
|| || || || || || || || || || || || || || || || ||
property.
2/50 Tabitha listed her property for sale, but it's been on the market for several months with
|| || || || || || || || || || || || || || || || ||
no offers. She decides to terminate her listing agreement and rent the property out instead
|| || || || || || || || || || || || || || ||
of selling it. Assuming that her listing agent has fulfilled all of his responsibilities under the
|| || || || || || || || || || || || || || || ||
contract, can Tabitha terminate the contract before its expiration date?
|| || || || || || || || ||
a Only if she and the listing agent mutually agree to terminate the agreement.
|| || || || || || || || || || || || ||
b Only if she succeeds in converting it to a rental.
|| || || || || || || || || ||
c Yes because she's received no offers on the listing.
|| || || || || || || || ||
d Yes, she is entitled to terminate at any time.
|| || || || || || || || ||
a Only if she and the listing agent mutually agree to terminate the agreement.
|| || || || || || || || || || || || ||
,2
3/50 As a North Carolina property manager, which of the following is Luisa required to do?
|| || || || || || || || || || || || || || ||
a Act as the landlord’s representative in all matters, including legal counsel.
|| || || || || || || || || || ||
b Advocate for the tenants’ interests above all others.
|| || || || || || || ||
c Avoid performing any actions that would constitute a landlord’s duties.
|| || || || || || || || || ||
d Perform the duties of a landlord, as laid out in statute and the lease.
|| || || || || || || || || || || || || ||
Perform the duties of a landlord, as laid out in statute and the lease.
|| || || || || || || || || || || || ||
4/50 It's January, and the pool at Roger's listing has been prepped for winter for several
|| || || || || || || || || || || || || || || ||
weeks. The homeowner assures Roger that it's in good working order. Roger has no reason
|| || || || || || || || || || || || || || ||
to disbelieve the homeowner, so he tells prospective buyers that the pool is fine. The
|| || || || || || || || || || || || || || ||
property sells, spring comes, and the new owners call to complain that the pump doesn't
|| || || || || || || || || || || || || || ||
work, and the pool drain appears to be clogged. What did Roger commit?
|| || || || || || || || || || || ||
a Fraud
||
b Negligent misrepresentation
|| ||
,2
c Roger did not commit a violation
|| || || || || ||
d Unintentional misrepresentation
|| ||
d Unintentional misrepresentation
|| ||
5/50 ______ occurs when one licensee represents both the buyer and seller in the same
|| || || || || || || || || || || || || || ||
transaction without proper disclosure and consent.
|| || || || ||
a A breach of contract
|| || || ||
b A conflict of interest Wrong
|| || || || ||
c Disclosed dual agency
|| || ||
d Undisclosed dual agency
|| || ||
d Undisclosed dual agency
|| || ||
6/10 Which of the following is a true statement about an MLS and sellers?
|| || || || || || || || || || || || ||
a An MLS is available via a fee-based subscription and is an option that most sellers prefer.
|| || || || || || || || || || || || || || || ||
, 2
b An MLS is exclusive to members of the National Association of REALTORS®.
|| || || || || || || || || || || ||
c For most sellers, marketing on an MLS is not cost effective.
|| || || || || || || || || || ||
d Sellers are required to market their properties on an MLS if they're working with a real
|| || || || || || || || || || || || || || || || ||
estate licensee. ||
a An MLS is available via a fee-based subscription and is an option that most sellers prefer.
|| || || || || || || || || || || || || || || ||
7/50 All North Carolina listing agreements must ______.
|| || || || || || ||
a Be signed by both the buyer and the seller
|| || || || || || || || ||
b Contain discriminatory language
|| || ||
c Have a six-month term
|| || || ||
d Include the listing broker’s license number
|| || || || || ||
Include the listing broker’s license number
|| || || || ||
8/50 Which of these situations is an example of designated agency?
|| || || || || || || || || ||
NC Post Licensing 301 Exam 1 wit5h verified detailed answers
|| || || || || || || || ||
1/50 Under which of the following circumstances would the client and agent most likely
|| || || || || || || || || || || || || ||
mutually agree to terminate a listing? || || || || ||
a A buyer approached the seller with a much higher offer than the current listing price.
|| || || || || || || || || || || || || || ||
b The agent and client don't agree on the best way to price, maintain, and market the
|| || || || || || || || || || || || || || || || ||
property.
c The client has found a buyer and wants to avoid paying a commission.
|| || || || || || || || || || || || ||
d The client's cousin just became licensed and needs her first listing.
|| || || || || || || || || || ||
b The agent and client don't agree on the best way to price, maintain, and market the
|| || || || || || || || || || || || || || || || ||
property.
2/50 Tabitha listed her property for sale, but it's been on the market for several months with
|| || || || || || || || || || || || || || || || ||
no offers. She decides to terminate her listing agreement and rent the property out instead
|| || || || || || || || || || || || || || ||
of selling it. Assuming that her listing agent has fulfilled all of his responsibilities under the
|| || || || || || || || || || || || || || || ||
contract, can Tabitha terminate the contract before its expiration date?
|| || || || || || || || ||
a Only if she and the listing agent mutually agree to terminate the agreement.
|| || || || || || || || || || || || ||
b Only if she succeeds in converting it to a rental.
|| || || || || || || || || ||
c Yes because she's received no offers on the listing.
|| || || || || || || || ||
d Yes, she is entitled to terminate at any time.
|| || || || || || || || ||
a Only if she and the listing agent mutually agree to terminate the agreement.
|| || || || || || || || || || || || ||
,2
3/50 As a North Carolina property manager, which of the following is Luisa required to do?
|| || || || || || || || || || || || || || ||
a Act as the landlord’s representative in all matters, including legal counsel.
|| || || || || || || || || || ||
b Advocate for the tenants’ interests above all others.
|| || || || || || || ||
c Avoid performing any actions that would constitute a landlord’s duties.
|| || || || || || || || || ||
d Perform the duties of a landlord, as laid out in statute and the lease.
|| || || || || || || || || || || || || ||
Perform the duties of a landlord, as laid out in statute and the lease.
|| || || || || || || || || || || || ||
4/50 It's January, and the pool at Roger's listing has been prepped for winter for several
|| || || || || || || || || || || || || || || ||
weeks. The homeowner assures Roger that it's in good working order. Roger has no reason
|| || || || || || || || || || || || || || ||
to disbelieve the homeowner, so he tells prospective buyers that the pool is fine. The
|| || || || || || || || || || || || || || ||
property sells, spring comes, and the new owners call to complain that the pump doesn't
|| || || || || || || || || || || || || || ||
work, and the pool drain appears to be clogged. What did Roger commit?
|| || || || || || || || || || || ||
a Fraud
||
b Negligent misrepresentation
|| ||
,2
c Roger did not commit a violation
|| || || || || ||
d Unintentional misrepresentation
|| ||
d Unintentional misrepresentation
|| ||
5/50 ______ occurs when one licensee represents both the buyer and seller in the same
|| || || || || || || || || || || || || || ||
transaction without proper disclosure and consent.
|| || || || ||
a A breach of contract
|| || || ||
b A conflict of interest Wrong
|| || || || ||
c Disclosed dual agency
|| || ||
d Undisclosed dual agency
|| || ||
d Undisclosed dual agency
|| || ||
6/10 Which of the following is a true statement about an MLS and sellers?
|| || || || || || || || || || || || ||
a An MLS is available via a fee-based subscription and is an option that most sellers prefer.
|| || || || || || || || || || || || || || || ||
, 2
b An MLS is exclusive to members of the National Association of REALTORS®.
|| || || || || || || || || || || ||
c For most sellers, marketing on an MLS is not cost effective.
|| || || || || || || || || || ||
d Sellers are required to market their properties on an MLS if they're working with a real
|| || || || || || || || || || || || || || || || ||
estate licensee. ||
a An MLS is available via a fee-based subscription and is an option that most sellers prefer.
|| || || || || || || || || || || || || || || ||
7/50 All North Carolina listing agreements must ______.
|| || || || || || ||
a Be signed by both the buyer and the seller
|| || || || || || || || ||
b Contain discriminatory language
|| || ||
c Have a six-month term
|| || || ||
d Include the listing broker’s license number
|| || || || || ||
Include the listing broker’s license number
|| || || || ||
8/50 Which of these situations is an example of designated agency?
|| || || || || || || || || ||
