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Superior 303 NC Law and Rules Exam with Verified Solutions 2024

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Superior 303 NC Law and Rules Exam with Verified Solutions 2024 sole proprietor - Answer -Full broker not affiliated with another firm Can not Advertise Can not hire other licensees Can not hold a trust account Would have to become a BIC in order to 'do it all' How long is BIC eligible status valid for? - Answer -12 months must take BIC update instead of general update each year that will renew eligibility to continue being BIC eligible Who is responsible for the advertising? - Answer -BIC Who is responsible to inform the NCREC of an address change for the firm? - Answer -Qualifying broker Which of the following will require a firm license? LLC Sole Proprietor Corporation Partnership - Answer -all except Sole Proprietor (not an entity) all entities must have a firm license Who informs the NCREC of an assumed business name? change of firm name or entity? - Answer - Qualifying broker Can the BIC pay a licensee when they are inactive? - Answer -If they were current and active when they earned it. Can the BIC pay a licensees entity? - Answer -If the entity has a firm real estate l

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