301 NC POST LICENSING EXAM 2026 FINAL
EXAM READINESS GUIDE COMPLETE
CONTENT AND QUESTION
◉ One advantage of telling the buyers' agents that there are multiple
offers on a property is _______. Answer: It gives buyers an incentive to
create a better offer
◉ Tiffany, an investor, wants to net 12% profit after paying a
brokerage commission of 7%. If her original purchase price was
$349,000, what's the minimum offer she can accept? Round to
nearest whole dollar. Answer: $420,301
◉ Which one of these scenarios accurately depicts how to handle
earnest money? Answer: Lisa, a closing attorney, is permitted to
deposit disputed earnest money funds with the courts pending
dispute settlement.
◉ The Slorahns are purchasing a property in Wilmington and are
concerned about the title. They want to have a title search
performed. Who can perform a title search? Answer: The closing
attorney
,◉ ````What are accrued expense items? Answer: Items to be divided
proportionately between the buyer and seller that the seller owes
◉ Which of the following actions is a North Carolina broker who's
acting as an agent in a transaction permitted to do? Answer:
Complete a pre-printed offer when directed to do so by the
transaction parties.
◉ `````The Back-Up Addendum should be used when ______. Answer:
The seller wants to accept a secondary offer
◉ North Carolina licensee Tara is completing the Offer to Purchase
and Contract, Standard Form 2-T, for her married buyer clients Bob
and Maggie McKenzie, who are listed in LinkedIn and Facebook as
Robert "Bobby Mack" McKenzie and Margaret (nee Harper)
McKenzie. Their legal names are Robert H. McKenzie and Margaret
E. McKenzie. How should Tara list their names in the contract?
Answer: Robert H. McKenzie and wife, Margaret E. McKenzie
◉ North Carolina buyer Travis needed to obtain a mortgage loan to
purchase another property that's under contract. Which of these
statements applies in this situation? Answer: The Loan paragraph in
Standard Form 12-T notes the buyer is entitled to apply for a
mortgage loan. This paragraph is NOT a contingency. If Travis isn't
approved and doesn't find that out until after the due diligence
period expires, he'll lose his earnest
,*The Loan paragraph in Standard Form 12-T notes that the buyer is
entitled to apply for and seek approval for a loan. The buyer's
obligation to purchase the property is NOT contingent on obtaining
a loan. The buyer should work with the lender to try to determine
whether it's likely the buyer will be approved for the loan before the
due diligence period expires. If the buyer isn't approved before the
expiration, the buyer may terminate the contract and have the
earnest money returned.
◉ ______ lending was a contributing factor to the housing collapse in
the mid-2000s Answer: Predatory
◉ If the property tax proration is $4.50 per day, the settlement date
is March 13, the buyer and seller have not negotiated a different
proration method, and it's not a leap year, what amount will be
charged to the seller and to the buyer respectively for taxes?
Answer: $324 to the seller and $1,318.50 to the buyer
◉ Which of the following statements regarding electronic
transactions in North Carolina is true? Answer: A client may request
hard-copy records even if the parties agreed to use electronic
signatures and records.
, ◉ You're a listing broker managing multiple offers. You should avoid
doing which of the following? Answer: Injecting your personal
opinion as to which is the best offer
◉ Kendra made an offer on Sam's property. Sam rejected Kendra's
offer, but made a counter-offer. Kendra is now considering the
counter. What role does Kendra currently have in this scenario?
Answer: Offeree
**The seller considering a buyer's offer is an offeree, but if that seller
makes a counter-offer, then the seller becomes the offeror, and the
buyer becomes an offeree
◉ Which of the following is considered a vice of consent in North
Carolina? Answer: Duress
◉ North Carolina buyer Max wanted to pay the due diligence fee and
initial earnest money deposit by personal check. Which of the
following statements is correct in this situation? Answer: Both fees
may be paid by personal check, but each must be paid separately in
checks made out to different people.
◉ Which of the following individuals may act as the escrow agent in
a real estate closing? Answer: Sarah, a representative from the
escrow department at the buyer's lender
EXAM READINESS GUIDE COMPLETE
CONTENT AND QUESTION
◉ One advantage of telling the buyers' agents that there are multiple
offers on a property is _______. Answer: It gives buyers an incentive to
create a better offer
◉ Tiffany, an investor, wants to net 12% profit after paying a
brokerage commission of 7%. If her original purchase price was
$349,000, what's the minimum offer she can accept? Round to
nearest whole dollar. Answer: $420,301
◉ Which one of these scenarios accurately depicts how to handle
earnest money? Answer: Lisa, a closing attorney, is permitted to
deposit disputed earnest money funds with the courts pending
dispute settlement.
◉ The Slorahns are purchasing a property in Wilmington and are
concerned about the title. They want to have a title search
performed. Who can perform a title search? Answer: The closing
attorney
,◉ ````What are accrued expense items? Answer: Items to be divided
proportionately between the buyer and seller that the seller owes
◉ Which of the following actions is a North Carolina broker who's
acting as an agent in a transaction permitted to do? Answer:
Complete a pre-printed offer when directed to do so by the
transaction parties.
◉ `````The Back-Up Addendum should be used when ______. Answer:
The seller wants to accept a secondary offer
◉ North Carolina licensee Tara is completing the Offer to Purchase
and Contract, Standard Form 2-T, for her married buyer clients Bob
and Maggie McKenzie, who are listed in LinkedIn and Facebook as
Robert "Bobby Mack" McKenzie and Margaret (nee Harper)
McKenzie. Their legal names are Robert H. McKenzie and Margaret
E. McKenzie. How should Tara list their names in the contract?
Answer: Robert H. McKenzie and wife, Margaret E. McKenzie
◉ North Carolina buyer Travis needed to obtain a mortgage loan to
purchase another property that's under contract. Which of these
statements applies in this situation? Answer: The Loan paragraph in
Standard Form 12-T notes the buyer is entitled to apply for a
mortgage loan. This paragraph is NOT a contingency. If Travis isn't
approved and doesn't find that out until after the due diligence
period expires, he'll lose his earnest
,*The Loan paragraph in Standard Form 12-T notes that the buyer is
entitled to apply for and seek approval for a loan. The buyer's
obligation to purchase the property is NOT contingent on obtaining
a loan. The buyer should work with the lender to try to determine
whether it's likely the buyer will be approved for the loan before the
due diligence period expires. If the buyer isn't approved before the
expiration, the buyer may terminate the contract and have the
earnest money returned.
◉ ______ lending was a contributing factor to the housing collapse in
the mid-2000s Answer: Predatory
◉ If the property tax proration is $4.50 per day, the settlement date
is March 13, the buyer and seller have not negotiated a different
proration method, and it's not a leap year, what amount will be
charged to the seller and to the buyer respectively for taxes?
Answer: $324 to the seller and $1,318.50 to the buyer
◉ Which of the following statements regarding electronic
transactions in North Carolina is true? Answer: A client may request
hard-copy records even if the parties agreed to use electronic
signatures and records.
, ◉ You're a listing broker managing multiple offers. You should avoid
doing which of the following? Answer: Injecting your personal
opinion as to which is the best offer
◉ Kendra made an offer on Sam's property. Sam rejected Kendra's
offer, but made a counter-offer. Kendra is now considering the
counter. What role does Kendra currently have in this scenario?
Answer: Offeree
**The seller considering a buyer's offer is an offeree, but if that seller
makes a counter-offer, then the seller becomes the offeror, and the
buyer becomes an offeree
◉ Which of the following is considered a vice of consent in North
Carolina? Answer: Duress
◉ North Carolina buyer Max wanted to pay the due diligence fee and
initial earnest money deposit by personal check. Which of the
following statements is correct in this situation? Answer: Both fees
may be paid by personal check, but each must be paid separately in
checks made out to different people.
◉ Which of the following individuals may act as the escrow agent in
a real estate closing? Answer: Sarah, a representative from the
escrow department at the buyer's lender
