301- NC Post Licensing Exam Questions
with Verified Solutions
, 301- NC Post Licensing Exam Questions
with Verified Solutions
Under Civil /Criminal law who can be held responsible for reporting Material Facts? -
Answer ✓✓Principles
Under NC License Law who can be held responsible for reporting Material Facts? -
Answer ✓✓Only Agents... (License Law)
What are considered Trigger items in Regulation Z? - Answer ✓✓Any numbers or
numerical characters
What are the 3 types of Agency? - Answer ✓✓Exclusive, Non-Exclusive, and Dual
What are the Qualifying Ratios for a conventional loan? - Answer ✓✓28% / 36%
A CMA is not a representation of Value but is a? - Answer ✓✓Representation of a
range of suggested selling price
A listing agreement is said to be what, if the principle dies during the agreement? -
Answer ✓✓Automatically Terminated
All Agency Agreements must include what disclaimer? - Answer ✓✓Fair Housing
Disclaimer
If you miss the 6/10 Deadline for CE what must you do to re-activate your license? -
Answer ✓✓Complete latest General Update (4 Hours), and 3 CE Classes (4 hours
each) Total of 16 hours
In a net listing money above the asking price is paid to whom? - Answer ✓✓Listing
Agent
In Qualifying Ratios what is included in the Back End? - Answer ✓✓Everything from
the front end + Recurring Debt Payments
All Oral Agency Agreements are...? - Answer ✓✓Non-Exclusive
Are all in-house transactions Dual Agency? - Answer ✓✓No. The exceptions would be
Seller Sub Agency or Unrepresented Buyers
As a dual agent, the agent's duties are reduced to what? - Answer ✓✓Contractual
Obligations
with Verified Solutions
, 301- NC Post Licensing Exam Questions
with Verified Solutions
Under Civil /Criminal law who can be held responsible for reporting Material Facts? -
Answer ✓✓Principles
Under NC License Law who can be held responsible for reporting Material Facts? -
Answer ✓✓Only Agents... (License Law)
What are considered Trigger items in Regulation Z? - Answer ✓✓Any numbers or
numerical characters
What are the 3 types of Agency? - Answer ✓✓Exclusive, Non-Exclusive, and Dual
What are the Qualifying Ratios for a conventional loan? - Answer ✓✓28% / 36%
A CMA is not a representation of Value but is a? - Answer ✓✓Representation of a
range of suggested selling price
A listing agreement is said to be what, if the principle dies during the agreement? -
Answer ✓✓Automatically Terminated
All Agency Agreements must include what disclaimer? - Answer ✓✓Fair Housing
Disclaimer
If you miss the 6/10 Deadline for CE what must you do to re-activate your license? -
Answer ✓✓Complete latest General Update (4 Hours), and 3 CE Classes (4 hours
each) Total of 16 hours
In a net listing money above the asking price is paid to whom? - Answer ✓✓Listing
Agent
In Qualifying Ratios what is included in the Back End? - Answer ✓✓Everything from
the front end + Recurring Debt Payments
All Oral Agency Agreements are...? - Answer ✓✓Non-Exclusive
Are all in-house transactions Dual Agency? - Answer ✓✓No. The exceptions would be
Seller Sub Agency or Unrepresented Buyers
As a dual agent, the agent's duties are reduced to what? - Answer ✓✓Contractual
Obligations
