NC 302 POST LICENSING EVALUATION TEST QUESTIONS
AND ANSWERS SURE A+
✔✔UETA (NC version of e-sign act) - ✔✔October 1, 2000 NC
Uniform Electronic transactions act
intrastate commerce
✔✔Signature - ✔✔Sound, symbol or process
attached to a document
with intent
✔✔Electronic record is any record that is - ✔✔created, generated, sent, received,
stored in an electronic format
✔✔Electronic signature Used in a consumer transaction - ✔✔involving a natural person
personal household or family purposes
as opposed to business transactions between entities and companies
✔✔UETA - ✔✔imposes safeguards for consumers crossing the internet highway
Disclosure notice before the consumer uses electronic methods
✔✔The required disclosures - ✔✔right to have any record on paper
right to revoke consent
scope of consent
How to withdraw consent or update consumer info
How to request these on paper
✔✔TQ! Electronic signatures are regulated and require - ✔✔disclosures and
compliance with statutes, records and security
✔✔When is it sent? - ✔✔Properly addressed
In a form that can be processed
Under recipient's control, outside of sender's control
, ✔✔When is it received? - ✔✔Enters a processing system from which the recipient can
receive
in a form processed by the recipient
✔✔Drafting of Contracts - ✔✔NO drafting of contracts of others
CAN fill in or complete preprinted forms
We can't engage in the unauthorized practice of Law (93A-611)
✔✔Sources of Forms - ✔✔Joint Forms Task Force
Many Revisions and Updates
✔✔The prohibition is against drafting contracts for others - ✔✔it does NOT prohibit any
buyer or seller from changing or altering the language, but they should be advised to
consult an attorney
✔✔The prohibition does NOT prohibit altering or changing any of the following: - ✔✔A
person altering an agreement to which they are a party
Licensees own employment agreement with the firm
A listing agreement on behalf of the firm
A buyer broker agreement on behalf of the firm
AGENTS SHOULD NOT ADD OR DELETE LANGUAGE TO THE AGREEMENTS
BETWEEN THE BUYER AND SELLER
✔✔Agents should use specific addendum and NOT draft contract changes -
✔✔Changing or editing existing terms is an amendment
Adding additional terms is considered an addendum
✔✔General Guidelines for Addenda Completion - ✔✔Type of Print Legibly
Fill in all blanks with N/A if necessary
Be precise, avoid abbreviations and acronyms
Seller and buyer should initial and date every change, addition or deletion
Rewrite the offer if there are numerous changes
AND ANSWERS SURE A+
✔✔UETA (NC version of e-sign act) - ✔✔October 1, 2000 NC
Uniform Electronic transactions act
intrastate commerce
✔✔Signature - ✔✔Sound, symbol or process
attached to a document
with intent
✔✔Electronic record is any record that is - ✔✔created, generated, sent, received,
stored in an electronic format
✔✔Electronic signature Used in a consumer transaction - ✔✔involving a natural person
personal household or family purposes
as opposed to business transactions between entities and companies
✔✔UETA - ✔✔imposes safeguards for consumers crossing the internet highway
Disclosure notice before the consumer uses electronic methods
✔✔The required disclosures - ✔✔right to have any record on paper
right to revoke consent
scope of consent
How to withdraw consent or update consumer info
How to request these on paper
✔✔TQ! Electronic signatures are regulated and require - ✔✔disclosures and
compliance with statutes, records and security
✔✔When is it sent? - ✔✔Properly addressed
In a form that can be processed
Under recipient's control, outside of sender's control
, ✔✔When is it received? - ✔✔Enters a processing system from which the recipient can
receive
in a form processed by the recipient
✔✔Drafting of Contracts - ✔✔NO drafting of contracts of others
CAN fill in or complete preprinted forms
We can't engage in the unauthorized practice of Law (93A-611)
✔✔Sources of Forms - ✔✔Joint Forms Task Force
Many Revisions and Updates
✔✔The prohibition is against drafting contracts for others - ✔✔it does NOT prohibit any
buyer or seller from changing or altering the language, but they should be advised to
consult an attorney
✔✔The prohibition does NOT prohibit altering or changing any of the following: - ✔✔A
person altering an agreement to which they are a party
Licensees own employment agreement with the firm
A listing agreement on behalf of the firm
A buyer broker agreement on behalf of the firm
AGENTS SHOULD NOT ADD OR DELETE LANGUAGE TO THE AGREEMENTS
BETWEEN THE BUYER AND SELLER
✔✔Agents should use specific addendum and NOT draft contract changes -
✔✔Changing or editing existing terms is an amendment
Adding additional terms is considered an addendum
✔✔General Guidelines for Addenda Completion - ✔✔Type of Print Legibly
Fill in all blanks with N/A if necessary
Be precise, avoid abbreviations and acronyms
Seller and buyer should initial and date every change, addition or deletion
Rewrite the offer if there are numerous changes
