NC Post Licensing 303 Exam 2024 Questions & Answers 100% UPDATED!

Active & current real estate license - ANSWERSRequired when assisting another for compensation in providing brokerage services. Unlicensed assistants MAY NOT - ANSWERS-Negotiate mgmt contracts -Prepare advertisements -Negotiate amounts of money -Determine deductions from deposits Unlicensed assistants MAY - ANSWERS-Accept applications -Complete & execute preprinted leases -Accept deposits & payments for delivery to BIC -Show properties & rental units -Place for rent signs Full broker who is NOT a BIC can affiliate with a BIC/Firm & can activate as a Sole Proprietor but CANNOT - ANSWERS-Maintain a trust account -Supervise other licensees -Offer services or advertise BIC & BIC eligible status is maintained by - ANSWERS-Renewing License by June 30 -Taking BICUP & elective by June 10 BIC supervising responsibilities are - ANSWERS-Firm name on all ads -No blind ads -Permission for all signs -Keep copies Sole proprietor - ANSWERSIs not an entity & no firm license is needed Non-resident limited commercial broker's license - ANSWERSMust affiliate with NC broker and have co-op agreement Current & active license is - ANSWERSValid if renewed by June 30 Duties & obligations of qualifying broker - ANSWERSNotify commission of any assumed name adopted by firm A provisional broker - ANSWERSCANNOT be dual affiliated You must have active license at the time the commission or referral fee is - ANSWERSEarned Every entity must have - ANSWERSA license