303 NC POST LICENSING EXAM 2024
ACTUAL EXAM COMPLETE
ACCURATE EXAM QUESTIONS WITH
DETAILED VERIFIED ANSWERS BEST
AND NEWEST ACTUAL EXAM
/GRADED A+
A fixed rent is also known as a gross lease and is
typically used when dealing with? -
....ANSWER...Residential property
When it comes to actual eviction, the only way to
regain possession is through a.. -
....ANSWER...judicial legal process
A landlord gets a right to hearing within how many
days - ....ANSWER...A landlord gets a right to hearing
within 7 days
,A writ must be issued to the sheriff within -
....ANSWER...5 days of the hearing.
A landlord must hold the personal property of a
tenant for.. - ....ANSWER...7 days if the property is
worth over $500, and 5 days if it is valued under
$500.
A tenant has a ____ month defense to an eviction
when they have asserted a legal right. -
....ANSWER...12 month
1. Helmets and automobile airbags work because
the Licensee must report all changes of address to
real estate commission within how many days? -
....ANSWER...Within 10 days.
Licensee must report all of the following to the
commission within 60 days of the conviction,
judgement, order, or adjudication.. - ....ANSWER...-
Felony or misdemeanor convictions
- Disciplinary actions against other professional
licenses
- Revocation or suspension of a notorial
commission.
,Provisional brokers who are not affiliated are
considered - ....ANSWER...Inactive
Full broker may either - ....ANSWER...- Affiliate with
a BIC/Firm
- Activate as a Sole Proprietor
If full broker is not affiliated with a BIC they CANNOT:
- ....ANSWER...- Maintain a trust account for others
- Hire/Supervise other brokers
- Offer services, advertise, or market in any way
An individual can be the BIC of more than one firm,
only if? - ....ANSWER...Only if the firms are at the
same physical office location.
Provisional broker can only affiliate with more than
one BIC if, - ....ANSWER...they have mutual
consent/permission of both BICs
When should a provisional broker deliver monies to
BIC? - ....ANSWER...Immediately
, All deposits must be made to the trust account
within.. - ....ANSWER...3 banking days of receipt or
contract acceptance, whichever is later.
Trust accounts may earn interest so long as, -
....ANSWER...The broker has written consent of the
client and a written agreement specifies who gets
the interest.
BICs may transfer earnest money for closing no
more than - ....ANSWER...10 days prior to settlement
Trust accounts must be balanced every: -
....ANSWER...Every 30 days
Trust account records must be maintained for -
....ANSWER...3 years
Sole Proprietorship - ....ANSWER...No creation of an
entity but may operate under a trade name.
Personally liable for all debts and liabilities.
Income taxed as regular income, no shelter of tax
liability.
ACTUAL EXAM COMPLETE
ACCURATE EXAM QUESTIONS WITH
DETAILED VERIFIED ANSWERS BEST
AND NEWEST ACTUAL EXAM
/GRADED A+
A fixed rent is also known as a gross lease and is
typically used when dealing with? -
....ANSWER...Residential property
When it comes to actual eviction, the only way to
regain possession is through a.. -
....ANSWER...judicial legal process
A landlord gets a right to hearing within how many
days - ....ANSWER...A landlord gets a right to hearing
within 7 days
,A writ must be issued to the sheriff within -
....ANSWER...5 days of the hearing.
A landlord must hold the personal property of a
tenant for.. - ....ANSWER...7 days if the property is
worth over $500, and 5 days if it is valued under
$500.
A tenant has a ____ month defense to an eviction
when they have asserted a legal right. -
....ANSWER...12 month
1. Helmets and automobile airbags work because
the Licensee must report all changes of address to
real estate commission within how many days? -
....ANSWER...Within 10 days.
Licensee must report all of the following to the
commission within 60 days of the conviction,
judgement, order, or adjudication.. - ....ANSWER...-
Felony or misdemeanor convictions
- Disciplinary actions against other professional
licenses
- Revocation or suspension of a notorial
commission.
,Provisional brokers who are not affiliated are
considered - ....ANSWER...Inactive
Full broker may either - ....ANSWER...- Affiliate with
a BIC/Firm
- Activate as a Sole Proprietor
If full broker is not affiliated with a BIC they CANNOT:
- ....ANSWER...- Maintain a trust account for others
- Hire/Supervise other brokers
- Offer services, advertise, or market in any way
An individual can be the BIC of more than one firm,
only if? - ....ANSWER...Only if the firms are at the
same physical office location.
Provisional broker can only affiliate with more than
one BIC if, - ....ANSWER...they have mutual
consent/permission of both BICs
When should a provisional broker deliver monies to
BIC? - ....ANSWER...Immediately
, All deposits must be made to the trust account
within.. - ....ANSWER...3 banking days of receipt or
contract acceptance, whichever is later.
Trust accounts may earn interest so long as, -
....ANSWER...The broker has written consent of the
client and a written agreement specifies who gets
the interest.
BICs may transfer earnest money for closing no
more than - ....ANSWER...10 days prior to settlement
Trust accounts must be balanced every: -
....ANSWER...Every 30 days
Trust account records must be maintained for -
....ANSWER...3 years
Sole Proprietorship - ....ANSWER...No creation of an
entity but may operate under a trade name.
Personally liable for all debts and liabilities.
Income taxed as regular income, no shelter of tax
liability.
