North Carolina Real Estate (State
Only Exam Review) Questions
with Accurate Answers
11. Which term describes the lowest wooden faming member of the house?
1. Pier
2. Footing
3. Floor joist
4. Sill correct answer 4. Sill
Explanation
Sill. The sill is the lowest wooden member that rests upon the foundation wall and
upon the piers. A pier is a vertical support inside the perimeter of the home used
to support the structure. A footing is the foundation wall dug below the frost line.
Floor joints are horizontal wooden beams that support the flooring system
(subfloor and flooring).
15. An appraiser is trying to determine the value of a subject property and has
found three similar comps. Using only the information provided what will be the
indicated value of the subject property?
Subject 1400 sq. ft. 2 bath 2 car garage
Comp 1 1300 sq. ft. 2 bath 1 car garage Sold $150,000
Comp 2 1300 sq. ft. 2 bath 2 car garage Sold $160,000
Comp 3 1400 sq. ft. 2 bath 1 car garage Sold $155,000
,1. $160,000
2 $162,500
3 $159,500
4. $165,000 correct answer 4. $165,000
Explanation
Comp 3 is just like the subject property except for difference between a 1-car
garage and a two car is 10,000. Comp 1 and 3 are similar except for square
footage therefore the cost per square foot is $50 ($5,000 divide by 100 square
foot difference). Then make adjustments to bring the comps in line with the
subject.
16. Which of the following would require a NC Real Estate license according to
Commission rules?
1. A For Sale by Owner who advertises his listing with an online database.
2. An attorney who is compensated for selling real property at a lien foreclosure
sale.
3. An executor who sells estate property and is compensated as a condition of the
will.
4. A real estate assistant who holds regular open houses for a listing agent.
correct answer 3. An executor who sells estate property and is compensated as a
condition of the will.
Explanation
, An assistant must be licensed to hold an open houses for other agents when the
property is for sale. Remember that there are different rules for unlicensed
assistants performing a tad under property management.
A broker is representing a buyer that wants to purchase a home, however has
recently changed jobs. The lender requires two paystub's from the new employer
in order to prove the buyer for financing. The buyer wants to move into the
property before school begins and therefore will need to rent for a few months
prior to closing. The broker finds a home that the buyer wants to make an offer.
The buyer wants the broker to prepare an Offer to Purchase and Lease
Agreement, with both the offer and lease being contingent of the seller's
agreement to both. Which of the following actions is permitted by the agent?
1. The agent should refer the buyer to an attorney or allow the buyer to make the
desired changes in his/her own handwriting.
2. The broker should add the desired language so long as the client has written an
outline of the terms that they want included in the offers.
3. The broker should ask the listing agent to add correct answer 1. The agent
should refer the buyer to an attorney or allow the buyer to make the desired
changes in his/her own handwriting.
Explanation
A broker is not permitted to daft legal documents, however is permitted to
complete a standard form by filling in the blanks. When a client wants to make a
substantial change to the standard offer or seeks to add legal language to a
standard offer, the agent should refer the client to an attorney. The client can
elect to writ the language into the offer, however it is recommended that the
agent allow them to do it in the clients own handwriting. The agent is not
permitted to write up the language even if the client is giving direction of what
they want included.
Only Exam Review) Questions
with Accurate Answers
11. Which term describes the lowest wooden faming member of the house?
1. Pier
2. Footing
3. Floor joist
4. Sill correct answer 4. Sill
Explanation
Sill. The sill is the lowest wooden member that rests upon the foundation wall and
upon the piers. A pier is a vertical support inside the perimeter of the home used
to support the structure. A footing is the foundation wall dug below the frost line.
Floor joints are horizontal wooden beams that support the flooring system
(subfloor and flooring).
15. An appraiser is trying to determine the value of a subject property and has
found three similar comps. Using only the information provided what will be the
indicated value of the subject property?
Subject 1400 sq. ft. 2 bath 2 car garage
Comp 1 1300 sq. ft. 2 bath 1 car garage Sold $150,000
Comp 2 1300 sq. ft. 2 bath 2 car garage Sold $160,000
Comp 3 1400 sq. ft. 2 bath 1 car garage Sold $155,000
,1. $160,000
2 $162,500
3 $159,500
4. $165,000 correct answer 4. $165,000
Explanation
Comp 3 is just like the subject property except for difference between a 1-car
garage and a two car is 10,000. Comp 1 and 3 are similar except for square
footage therefore the cost per square foot is $50 ($5,000 divide by 100 square
foot difference). Then make adjustments to bring the comps in line with the
subject.
16. Which of the following would require a NC Real Estate license according to
Commission rules?
1. A For Sale by Owner who advertises his listing with an online database.
2. An attorney who is compensated for selling real property at a lien foreclosure
sale.
3. An executor who sells estate property and is compensated as a condition of the
will.
4. A real estate assistant who holds regular open houses for a listing agent.
correct answer 3. An executor who sells estate property and is compensated as a
condition of the will.
Explanation
, An assistant must be licensed to hold an open houses for other agents when the
property is for sale. Remember that there are different rules for unlicensed
assistants performing a tad under property management.
A broker is representing a buyer that wants to purchase a home, however has
recently changed jobs. The lender requires two paystub's from the new employer
in order to prove the buyer for financing. The buyer wants to move into the
property before school begins and therefore will need to rent for a few months
prior to closing. The broker finds a home that the buyer wants to make an offer.
The buyer wants the broker to prepare an Offer to Purchase and Lease
Agreement, with both the offer and lease being contingent of the seller's
agreement to both. Which of the following actions is permitted by the agent?
1. The agent should refer the buyer to an attorney or allow the buyer to make the
desired changes in his/her own handwriting.
2. The broker should add the desired language so long as the client has written an
outline of the terms that they want included in the offers.
3. The broker should ask the listing agent to add correct answer 1. The agent
should refer the buyer to an attorney or allow the buyer to make the desired
changes in his/her own handwriting.
Explanation
A broker is not permitted to daft legal documents, however is permitted to
complete a standard form by filling in the blanks. When a client wants to make a
substantial change to the standard offer or seeks to add legal language to a
standard offer, the agent should refer the client to an attorney. The client can
elect to writ the language into the offer, however it is recommended that the
agent allow them to do it in the clients own handwriting. The agent is not
permitted to write up the language even if the client is giving direction of what
they want included.
