301 NC POST LICENSING EXAM 2026 EXAM
PREPARATION PACK KEY CONCEPTS AND
SAMPLE QUESTIONS
◉ If the property is in foreclosure or a short sale then there must
be... Answer: full disclosure
◉ Foreclosure= Answer: "Notice of Sale" has been filed with the
Clerk of Courts
◉ Facts that surround the property and could affect it's value...
Answer: - pending zoning changes
- existence of restrictive covenants
- plans for a new highway
-plans to build nearby shopping center
- close to an airport
◉ What is not a material fact? Answer: - Haunted house
- Death or serious illness of a occupant
- HIV or AIDS occupant (or any protected class)
- Sexual offender
- Appraisal of a former transaction
,◉ What else can happen to a "Broker Gone Bad: other than civil
liability and the loss of commission? Answer: - Loss or suspension of
license
- Criminal Prosecution
◉ Agents duties to client under License Law: Answer: - Duty to
disclose all material facts
- Avoid false promises
- Account for all trust funds
- Competence in agency duties
- Avoid improper conduct/dishonesty
- Deliver all offers and contracts
- Disclose all payments from 3rd parties
- Avoid conflicts of interest
◉ Agents can NOT ignore conditions even if the seller does...
Answer: NOT disclose
◉ The Agents duties to a 3rd persons or customer: Answer: -
Disclosure of all material facts
- No false promises
- Proper accounting of all funds
, - Disclosure of all fees
- Act in a competent manner
- Be honest & fair/no fraudulent dealing
- Delivery of all offers and contracts
- Owe information but NOT "advice" or "opinions"
◉ Unfair or Deceptive Trade Practices Act states that agents can
not... Answer: give misleading opinions, fail to disclose material facts
or use misleading ads according to consumer legislation
◉ Unfair or Deceptive Trade Practices Act states that puffing is...
Answer: acceptable
◉ Unfair or Deceptive Trade Practices Act states that there must be
disclosure when home is being sold in... Answer: "AS IN" condition
◉ Even though NC is a "caveat emptor" state, sellers and agents can
NOT engage in.. Answer: fraud and can be responsible for treble
damages
◉ A seller is "on the hook" if he.... Answer: - engages in fraud
(intentional acts)
- induces buyer to forego an inspection
- does not provide a disclosure form at the time of the offer
PREPARATION PACK KEY CONCEPTS AND
SAMPLE QUESTIONS
◉ If the property is in foreclosure or a short sale then there must
be... Answer: full disclosure
◉ Foreclosure= Answer: "Notice of Sale" has been filed with the
Clerk of Courts
◉ Facts that surround the property and could affect it's value...
Answer: - pending zoning changes
- existence of restrictive covenants
- plans for a new highway
-plans to build nearby shopping center
- close to an airport
◉ What is not a material fact? Answer: - Haunted house
- Death or serious illness of a occupant
- HIV or AIDS occupant (or any protected class)
- Sexual offender
- Appraisal of a former transaction
,◉ What else can happen to a "Broker Gone Bad: other than civil
liability and the loss of commission? Answer: - Loss or suspension of
license
- Criminal Prosecution
◉ Agents duties to client under License Law: Answer: - Duty to
disclose all material facts
- Avoid false promises
- Account for all trust funds
- Competence in agency duties
- Avoid improper conduct/dishonesty
- Deliver all offers and contracts
- Disclose all payments from 3rd parties
- Avoid conflicts of interest
◉ Agents can NOT ignore conditions even if the seller does...
Answer: NOT disclose
◉ The Agents duties to a 3rd persons or customer: Answer: -
Disclosure of all material facts
- No false promises
- Proper accounting of all funds
, - Disclosure of all fees
- Act in a competent manner
- Be honest & fair/no fraudulent dealing
- Delivery of all offers and contracts
- Owe information but NOT "advice" or "opinions"
◉ Unfair or Deceptive Trade Practices Act states that agents can
not... Answer: give misleading opinions, fail to disclose material facts
or use misleading ads according to consumer legislation
◉ Unfair or Deceptive Trade Practices Act states that puffing is...
Answer: acceptable
◉ Unfair or Deceptive Trade Practices Act states that there must be
disclosure when home is being sold in... Answer: "AS IN" condition
◉ Even though NC is a "caveat emptor" state, sellers and agents can
NOT engage in.. Answer: fraud and can be responsible for treble
damages
◉ A seller is "on the hook" if he.... Answer: - engages in fraud
(intentional acts)
- induces buyer to forego an inspection
- does not provide a disclosure form at the time of the offer
