2
303 Post Licensing Exam questions with verified detailed answers
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Is it permissible for an apartment complex to post a notice outside the complex that says,
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"Free two months' rent with a one-year lease? - ✔✔Yes, it is offering a thing of value to a
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party to the transaction || || ||
If a provisional broker earned a commission with a firm but now works for another
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company, how would the commission be paid? - ✔✔The firm may pay the provisional || || || || || || || || || || || || || ||
broker directly or pay the new broker-in-charge, who can then pay the provisional broker
|| || || || || || || || || || || || ||
The NCREC will hear complaints concerning improper compensation of both brokers and
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unlicensed persons but will not hear cases involving disputes under - ✔✔a brokerage || || || || || || || || || || || || ||
cooperation agreement ||
In NC, if you choose to provide services for someone without licensing, you may be guilty of
|| || || || || || || || || || || || || || || ||
- ✔✔a Class 1 misdemeanour
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A broker may set up a company for the sole purpose of getting paid through the company
|| || || || || || || || || || || || || || || || ||
instead of a 1099 independent contractor. The entity created for payments must apply and
|| || || || || || || || || || || || || ||
obtain a firm broker license before.. - ✔✔any compensation is paid to the entity
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Not only may an unlicensed person not practice real estate in NC, but this person also may
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not be - ✔✔compensated for engaging in any real estate brokerage activities
|| || || || || || || || || || ||
Because a broker in charge is forbidden from paying an unlicensed entity a commission, the
|| || || || || || || || || || || || || ||
BIC would want to make sure the entity is licensed and that the broker who uses the
|| || || || || || || || || || || || || || || || || ||
company has renewed his - ✔✔for-compensation-only firm license || || || || || || ||
, 2
Is paying a referral fee acceptable for a NC licensed broker? - ✔✔No not under any
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circumstances
Which of the following is NOT criteria for identifying a person with a disability, according
|| || || || || || || || || || || || || || ||
to HUD? - ✔✔An individual who says she has a disability
|| || || || || || || || || ||
As part of a civil penalty for a conviction on fair housing violations, the person could be
|| || || || || || || || || || || || || || || || ||
asked to pay for the victims' inconvenience, mental anguish, and out-of-pocket expenses to
|| || || || || || || || || || || || ||
acquire higher-priced housing. These are called - ✔✔actual damages
|| || || || || || || ||
Once a fair housing complaint has been filed, an investigation takes place and, if reasonable
|| || || || || || || || || || || || || || ||
grounds exist to believe an incident has occurred, the next likely step is - ✔✔for informal
|| || || || || || || || || || || || || || || ||
conferences and conciliation to resolve the issue || || || || || ||
There are two main enforcement agencies for the State Fair Housing Act in North Carolina.
|| || || || || || || || || || || || || || ||
One is the North Carolina Human Relations Committee and the other is - ✔✔HUD
|| || || || || || || || || || || || ||
Helping buyers understand that their best bet is to stay in neighbourhoods where they will
|| || || || || || || || || || || || || || ||
feel comfortable with their neighbours, and basing your efforts as an agent on the race of
|| || || || || || || || || || || || || || || ||
national origin of the buyers is textbook - ✔✔Steering || || || || || || || ||
Among the civil penalties that could be levied during a fair housing trial are penalties
|| || || || || || || || || || || || || || ||
assessed against persons who wilfully violated the State Fair Housing Act or blatantly
|| || || || || || || || || || || || ||
disregarded the laws. These damages are called - ✔✔Punitive || || || || || || || ||
In 1995, changes were made to the State Fair Housing Act and housing for older persons.
|| || || || || || || || || || || || || || || ||
With certain circumstances, the law now exempts those properties that are - ✔✔55 years
|| || || || || || || || || || || || || ||
and older ||
303 Post Licensing Exam questions with verified detailed answers
|| || || || || || || ||
Is it permissible for an apartment complex to post a notice outside the complex that says,
|| || || || || || || || || || || || || || || ||
"Free two months' rent with a one-year lease? - ✔✔Yes, it is offering a thing of value to a
|| || || || || || || || || || || || || || || || || || ||
party to the transaction || || ||
If a provisional broker earned a commission with a firm but now works for another
|| || || || || || || || || || || || || || ||
company, how would the commission be paid? - ✔✔The firm may pay the provisional || || || || || || || || || || || || || ||
broker directly or pay the new broker-in-charge, who can then pay the provisional broker
|| || || || || || || || || || || || ||
The NCREC will hear complaints concerning improper compensation of both brokers and
|| || || || || || || || || || || ||
unlicensed persons but will not hear cases involving disputes under - ✔✔a brokerage || || || || || || || || || || || || ||
cooperation agreement ||
In NC, if you choose to provide services for someone without licensing, you may be guilty of
|| || || || || || || || || || || || || || || ||
- ✔✔a Class 1 misdemeanour
|| || || || ||
A broker may set up a company for the sole purpose of getting paid through the company
|| || || || || || || || || || || || || || || || ||
instead of a 1099 independent contractor. The entity created for payments must apply and
|| || || || || || || || || || || || || ||
obtain a firm broker license before.. - ✔✔any compensation is paid to the entity
|| || || || || || || || || || || || ||
Not only may an unlicensed person not practice real estate in NC, but this person also may
|| || || || || || || || || || || || || || || || ||
not be - ✔✔compensated for engaging in any real estate brokerage activities
|| || || || || || || || || || ||
Because a broker in charge is forbidden from paying an unlicensed entity a commission, the
|| || || || || || || || || || || || || ||
BIC would want to make sure the entity is licensed and that the broker who uses the
|| || || || || || || || || || || || || || || || || ||
company has renewed his - ✔✔for-compensation-only firm license || || || || || || ||
, 2
Is paying a referral fee acceptable for a NC licensed broker? - ✔✔No not under any
|| || || || || || || || || || || || || || || ||
circumstances
Which of the following is NOT criteria for identifying a person with a disability, according
|| || || || || || || || || || || || || || ||
to HUD? - ✔✔An individual who says she has a disability
|| || || || || || || || || ||
As part of a civil penalty for a conviction on fair housing violations, the person could be
|| || || || || || || || || || || || || || || || ||
asked to pay for the victims' inconvenience, mental anguish, and out-of-pocket expenses to
|| || || || || || || || || || || || ||
acquire higher-priced housing. These are called - ✔✔actual damages
|| || || || || || || ||
Once a fair housing complaint has been filed, an investigation takes place and, if reasonable
|| || || || || || || || || || || || || || ||
grounds exist to believe an incident has occurred, the next likely step is - ✔✔for informal
|| || || || || || || || || || || || || || || ||
conferences and conciliation to resolve the issue || || || || || ||
There are two main enforcement agencies for the State Fair Housing Act in North Carolina.
|| || || || || || || || || || || || || || ||
One is the North Carolina Human Relations Committee and the other is - ✔✔HUD
|| || || || || || || || || || || || ||
Helping buyers understand that their best bet is to stay in neighbourhoods where they will
|| || || || || || || || || || || || || || ||
feel comfortable with their neighbours, and basing your efforts as an agent on the race of
|| || || || || || || || || || || || || || || ||
national origin of the buyers is textbook - ✔✔Steering || || || || || || || ||
Among the civil penalties that could be levied during a fair housing trial are penalties
|| || || || || || || || || || || || || || ||
assessed against persons who wilfully violated the State Fair Housing Act or blatantly
|| || || || || || || || || || || || ||
disregarded the laws. These damages are called - ✔✔Punitive || || || || || || || ||
In 1995, changes were made to the State Fair Housing Act and housing for older persons.
|| || || || || || || || || || || || || || || ||
With certain circumstances, the law now exempts those properties that are - ✔✔55 years
|| || || || || || || || || || || || || ||
and older ||
