Post Licensing 303 exam with correct answers

Post Licensing 303 exam with correct
answers

Who issues your real estate license? - ANSWER: ➡ NCREC
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You need an ______ real estate license to practice real estate for others for a fee - ANSWER: ➡
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Active
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License Qualification Requirements: - ANSWER: ➡ 1. be at least 18 years old
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2. be a US citizen or a non-citizen national or a qualified alien under federal law
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3. have a social security number
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4. satisfy educational requirements
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5. File a complete application and fee
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6. Pass the applicable real estate license exam
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7. Satisfy the Commission that one possesses the requisite character to be entitled to licensure
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Who needs a active real estate license? - ANSWER: ➡ REAL SLOB
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Refer
Exchange
Auction
List


Sell
Lease
Offer to negotiate
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, Buy


Who does NOT need an active real estate license? - ANSWER: ➡ STAPLES
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Sale by owner
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Trustees
A corporation
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Power of attorney g g




Lawyers
Executor/Guardian
Salaried employee under broker doing clerical work
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What does for sale by owner mean? - ANSWER: ➡ any person who personally leases or sell's
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their own property
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What does a corporation mean? - ANSWER: ➡ Any partnership, corporation, LLC,
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association or other business entity that, as owner or lessor, shall perform in the
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regular course of managing and g g g g




Investing of the property g g g




Unlicensed assistants CAN: - ANSWER: ➡ •Submit listing and changes to the MLS only if the
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data is provided by a licensee
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•Administrative and Courier duties g g g




•Place signs and lock boxes on property
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•Order & supervise minor repairs done on property
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•Schedule appointments g




•Communicate with other licensees, inspectors and property owners g g g g g g g




•Show rental properties managed by employing broker to tenants and complete preprinted
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form leases for rental properties
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