NC Post-Licensing 303 Exam 100% Correct!

Mary, a woman of color, has filed a fair housing complaint after suspecting her real estate agent was only showing her homes in communities that were primarily made up of minorities. After completing its investigation, HUD found reasonable cause to believe that discrimination occurred. What will happen next? - ANSWERSHUD will issue a charge of discrimination and will notify Mary, the complainant, of its determination. How can North Carolina landlords remove tenants who engage in illegal activities like drug manufacturing on the premises? - ANSWERSSend the tenant a notice of immediate lease termination Which aspect of highest and best use is concerned with land use restrictions and zoning? - ANSWERSIs it legally allowable or permissible? In North Carolina, the Vacation Rental Act provides what kind of exception regarding compensation for real estate brokerage activities? - ANSWERSUnder this act, a travel agent who does not hold an active real estate license may accept a referral fee for referring a tenant to a broker for a vacation rental if certain provisions are met. Tenant A is leasing commercial property from the landlord. Tenant A then sublets to Tenant B. Which of the following parties have a sandwich lease? - ANSWERSThe original tenant and the landlord Mike relocated for work and learned that the region in which he planned to buy a home had many old underground mines. In fact, Mike might even need to purchase mine subsidence insurance. What might a home inspector flag for Mike if there are any concerns about undermining? - ANSWERSA sinkhole on the property An underground storage tank has been in place for 15 years. What is its remaining useful life, on average? - ANSWERSZero years Which of the following is described as an area that is protected by the Clean Water Act where standing water that supports aquatic plants and animals is located and groundwater is filtered? - ANSWERSWetland Before becoming a broker-in-charge, a North Carolina broker must first apply for _______ with the NCREC. - ANSWERSEligibility Dave is an employee of a housing authority in his North Carolina county. He's been asked to lease one of the properties that the housing authority owns to a new tenant. D