301 NC POST LICENSING EXAMPREP STUDY
GUIDE 2026 DETAILED QUESTIONS AND
CORRECT ANSWERS GRADED A+
●● seller's subagent. Answer: no written or oral buyer agency
●● OLDCAR. Answer: obedience
loyalty
disclosure
confidentiality
accounting
reasonable care
●● In dual agency, the agent's duties are _____ to being a facilitator.
Answer: reduced
●● What statement would require full disclosure of all financing terms
in compliance with TILA, Reg Z and RESPA. Answer: any number
amount triggers full disclosure:
4.5% APR or $2000 down
●● A _____foreclosure is material fact and it must be______.. Answer:
filed foreclosure; must be disclosed
, ●● If it is not_______, you shouldn't be talking about it.. Answer:
material fact
●● T/F AS-IS relieves seller from disclosing material fact. Answer: F,
AS-IS does not relieve requirement to disclose material fact
●● name 10 material fact required disclosures. Answer: stucco, radon,
lead-based paint, filed foreclosure, zoning, flood plains, meth houses,
gravesites, pending highways, asbestos siding
●● names issues that are not material fact. Answer: pending foreclosure,
death or illness, murder or suicide, HIV or AIDS, haunted, aluminum
wiring
●● Who is responsible if known hidden defect is found AFTER
closing?. Answer: Listing agent
●● Does filed foreclosure need to be disclosed?. Answer: Yes, it is a
material fact
●● In dual agency, the loyalty of the firm is ______between the buyer
and seller?. Answer: divided equally
GUIDE 2026 DETAILED QUESTIONS AND
CORRECT ANSWERS GRADED A+
●● seller's subagent. Answer: no written or oral buyer agency
●● OLDCAR. Answer: obedience
loyalty
disclosure
confidentiality
accounting
reasonable care
●● In dual agency, the agent's duties are _____ to being a facilitator.
Answer: reduced
●● What statement would require full disclosure of all financing terms
in compliance with TILA, Reg Z and RESPA. Answer: any number
amount triggers full disclosure:
4.5% APR or $2000 down
●● A _____foreclosure is material fact and it must be______.. Answer:
filed foreclosure; must be disclosed
, ●● If it is not_______, you shouldn't be talking about it.. Answer:
material fact
●● T/F AS-IS relieves seller from disclosing material fact. Answer: F,
AS-IS does not relieve requirement to disclose material fact
●● name 10 material fact required disclosures. Answer: stucco, radon,
lead-based paint, filed foreclosure, zoning, flood plains, meth houses,
gravesites, pending highways, asbestos siding
●● names issues that are not material fact. Answer: pending foreclosure,
death or illness, murder or suicide, HIV or AIDS, haunted, aluminum
wiring
●● Who is responsible if known hidden defect is found AFTER
closing?. Answer: Listing agent
●● Does filed foreclosure need to be disclosed?. Answer: Yes, it is a
material fact
●● In dual agency, the loyalty of the firm is ______between the buyer
and seller?. Answer: divided equally
