NC POST LICENSING 303 ACTUAL EXAM
QUESTIONS AND CORRECT ANSWERS
COMPLETE SOLUTION 100 PERCENT
CORRECT GRADED A+
⩥ Which of the following is FALSE regarding the handling of
funds from a timeshare:
Answer: Brokers are required to immediately deliver all money
to the project broker.
Project broker has 3 days to deposit the money in the trust
account.
The money must be held in the trust account for 10 days.
XX In the event of cancellation, no refund will be given.
⩥ Timeshare public offering statements must include all of the
following EXCEPT:
Answer: Total financial obligation.
,Management agreements.
Term of the timeshare.
XX Background information on all other timeshare residents.
⩥ What is a characteristic of a Class C space:
Answer: Older than 30 years.
⩥ What area is generally NOT part of rented office buildings:
Answer: Living space.
⩥ What is the definition of "Limited Common Areas" in
condominiums:
Answer: Common areas in a condo that are reserved for use by
one or more units to the exclusion of other units.
⩥ For a sale, a commercial real estate broker lien should be
filed:
Answer: No more than 30 days prior to the closing date.
,⩥ What are the major components of a Graduated lease:
Answer: Rent increases or decreases at certain graduated
intervals.
⩥ Basic duties of a landlord include:
Answer: Obligation to landscape the and maintain any green
space.
XX Obligation to remedy any dangerous conditions.
Obligation to supply laundry facilities.
Obligation to repaint the property to the tenant's wishes
⩥ Which of the following is generally NOT a protected tenant
activity:
Answer: XX Renting property to subletters.
Exercising rights under state law.
Complaining to a government agency.
, Joining a tenants' rights association.
⩥ After engaging in a protected tenant activity, within what
period can a tenant raise the defense of retaliatory eviction:
Answer: 12 Months.
A tenant engaging in a protected tenant activity can raise the
defense of retaliatory eviction in response to a landlord's
eviction attempt within 12 months of such activity.
⩥ Which of the following is NOT one of the landlord's
obligations according to the Residential Rental Contract:
Answer: Repairing any imminently dangerous condition after
being notified by tenants.
XX Providing backyard, balcony, roof, or other outdoor access.
Repairing all facilities and appliances provided as part of the
premises.
Keeping all common areas clean and safe.
QUESTIONS AND CORRECT ANSWERS
COMPLETE SOLUTION 100 PERCENT
CORRECT GRADED A+
⩥ Which of the following is FALSE regarding the handling of
funds from a timeshare:
Answer: Brokers are required to immediately deliver all money
to the project broker.
Project broker has 3 days to deposit the money in the trust
account.
The money must be held in the trust account for 10 days.
XX In the event of cancellation, no refund will be given.
⩥ Timeshare public offering statements must include all of the
following EXCEPT:
Answer: Total financial obligation.
,Management agreements.
Term of the timeshare.
XX Background information on all other timeshare residents.
⩥ What is a characteristic of a Class C space:
Answer: Older than 30 years.
⩥ What area is generally NOT part of rented office buildings:
Answer: Living space.
⩥ What is the definition of "Limited Common Areas" in
condominiums:
Answer: Common areas in a condo that are reserved for use by
one or more units to the exclusion of other units.
⩥ For a sale, a commercial real estate broker lien should be
filed:
Answer: No more than 30 days prior to the closing date.
,⩥ What are the major components of a Graduated lease:
Answer: Rent increases or decreases at certain graduated
intervals.
⩥ Basic duties of a landlord include:
Answer: Obligation to landscape the and maintain any green
space.
XX Obligation to remedy any dangerous conditions.
Obligation to supply laundry facilities.
Obligation to repaint the property to the tenant's wishes
⩥ Which of the following is generally NOT a protected tenant
activity:
Answer: XX Renting property to subletters.
Exercising rights under state law.
Complaining to a government agency.
, Joining a tenants' rights association.
⩥ After engaging in a protected tenant activity, within what
period can a tenant raise the defense of retaliatory eviction:
Answer: 12 Months.
A tenant engaging in a protected tenant activity can raise the
defense of retaliatory eviction in response to a landlord's
eviction attempt within 12 months of such activity.
⩥ Which of the following is NOT one of the landlord's
obligations according to the Residential Rental Contract:
Answer: Repairing any imminently dangerous condition after
being notified by tenants.
XX Providing backyard, balcony, roof, or other outdoor access.
Repairing all facilities and appliances provided as part of the
premises.
Keeping all common areas clean and safe.
