301 NC POST LICENSING EXAM
Questions and Correct Answers Latest
Updated 2025 GRADED A+
Which of the following statements BEST describes the agency options
available for real estate firms?
A) Seller agency, buyer agency, dual agency, and a form of dual
agency called designated agency
B) Unintentional dual agency, seller agency, and buyer agency
C) Dual agency, intentional undisclosed dual agency, and unintentional
dual agency
D) Intentional undisclosed dual agency, seller agency, and buyer
agency
A) Seller agency, buyer agency, dual agency, and a form of dual
agency called designated agency
Best Homes Realty was hired by a buyer to represent them in purchasing
a property. The buyer wanted to have exclusive representation at all
times. What type of agency would BEST describe the relationship
between Best Homes Realty and the buyer?
A) Buyer agency
B) Dual agency
C) Nonagency
D) Seller agency
A) Buyer agency
Dream Homes Realty is showing a buyer client a property listed with
Dream Homes Realty. According to licensing law, which of the following
statements is TRUE?
A) Dream Homes Realty only needs to get informed consent from the
seller prior to showing the property.
B) Dream Homes Realty only needs to get informed consent prior to
showing the property if the buyer ends up making an offer.
C) Dream Homes Realty will need informed consent of both principals.
D) Dream Homes Realty does not need informed consent of both
principals.
,C) Dream Homes Realty will need informed consent of both principals.
A property is listed for sale with one firm and the buyer of that property is
procured by a different firm. This type of transaction is BEST described
as
A) in-house sale.
B) single agency sale.
C) dual agency sale.
D) cooperating sale.
D) cooperating sale.
According to North Carolina Real Estate Commission rules regarding a
broker representing a buyer or offering to represent a buyer in a property
the broker has an ownership interest is
A) illegal because the buyer would be getting all the fiduciary duties
from the owner-broker.
B) illegal because the broker has an obvious conflict of interest.
C) legal because the buyer is allowed to choose the type of agency
representation they would like.
D) legal because the broker can represent the interest of the buyer and
their own interest at the same time.
B) illegal because the broker has an obvious conflict of interest.
Which of the following statements are TRUE regarding the different
agency arrangements possible when firms are cooperating in a real estate
transaction?
A) The cooperating or selling broker who procures the buyer may be
operating as the agent of the buyer or the subagent of the seller.
B) The cooperating or selling broker who procures the buyer is the
same firm that is representing the seller.
C) The cooperating or selling broker is representing the seller as a
seller subagent.
D) The cooperating or selling broker is representing the buyer as a
buyer agent.
A) The cooperating or selling broker who procures the buyer may be
operating as the agent of the buyer or the subagent of the seller.
Hector is one of four members-managers of a limited liability company
(LLC) that owns a commercial building and has decided to sell the
building. Hector, as a manager of the owner- LLC, markets the property
as For Sale by Owner. Jonah contacts Hector to view the property. Upon
meeting Jonah at the property, Hector explains that he is a member-
manager of the owner- LLC and that he has a broker license. Which of
the following statements is FALSE regarding the possible relationship
between the buyer and the seller?
,A) Hector needs to advise Jonah that he is free to seek whatever
representation, advice, or counsel Jonah chooses.
B) Since it is a commercial property and not a residential property,
Hector can represent or offer to represent Jonah.
C) Hector must advise Jonah that although he has a broker license, he
is acting only as a manager of the owner-LLC.
D) Hector is selling a commercial property he has an ownership i
B) Since it is a commercial property and not a residential property,
Hector can represent or offer to represent Jonah.
Greta, a broker, and her two sisters decide to sell a property they own in
their individual names as tenants in common. Because Greta has a license
and is local, her sisters ask her to handle the marketing and sale of the
property, not in her broker capacity, but as one of the co-owners in a For
Sale by Owner situation. Greta advertises the property and discloses she
is a broker-owner. Which of the following statements is TRUE regarding
the relationship with the buyer?
A) Greta is not allowed to represent herself in selling her own property;
she must hire a firm to represent her.
B) Greta may represent or offer to represent a buyer.
C) Greta may not represent or offer to represent a buyer.
D) Greta may represent or offer to represent a buyer as long as it is dual
agency.
C) Greta may not represent or offer to represent a buyer.
All seller agents are required to disclose their agency status in writing to a
prospective buyer at the time the purchase agreement is signed by the
buyer.
False
The Working With Real Estate Agent's disclosure form is only used in
residential sales transactions
False
When the buyer or seller signs the Working With Real Estate Agent's
disclosure form, they are entering into an agency agreement with the firm.
False
The agent checks the appropriate blanks for the agency options, not the
buyer and seller. True
Before a licensee in North Carolina provides any brokerage services to a
buyer, the licensee must review the information in the Working with Real
Estate Agents brochure.
True
Regarding agency disclosure, informed consent means an affirmative
, answer is required. True
First substantial contact is the point in time when the broker and
consumer first meet face to face. False
At what point in the meeting with a seller can the broker provide any
brokerage services to the seller?
A) At initial contact
B) At first substantial contact
C) When the seller signs the acknowledgement panel on the agency
disclosure brochure
D) When the seller signs a listing agreement with the brokerage firm
D) When the seller signs a listing agreement with the brokerage firm
Marcus, a broker with Best Team Realty, is meeting with Naomi about
listing her property for sale. At what point in the relationship do they need
to reduce their representation agreement to writing?
A) At the time when Marcus and Naomi first meet
B) At the time when Naomi shares the motivation for her wanting to
sell her home
C) Up until an offer is made on the property
D) At the time when Marcus and Naomi form their agency relationship
D) At the time when Marcus and Naomi form their agency relationship
When first substantial contact with a prospective buyer or seller occurs by
telephone or other electronic means that make it impractical to give the
person the written brochure, the broker is required to do which of the
following?
A) At the earliest opportunity but no later than seven days from the
date of first substantial contact, mail, or transmit a copy of the brochure to
the consumer and review it with them at the earliest opportunity.
B) The broker must cease all communication with the consumer until
they can meet in person with the broker to review the brochure.
C) The broker must remain neutral and only discuss material facts
about properties until the consumer can meet with the broker in person to
discuss the brochure.
D) At the earliest opportunity but no later than three days from the date
of first substantial contact, mail, or transmit a copy of the brochure to the
consumer and review it with them at the
D) At the earliest opportunity but no later than three days from the date of
first substantial contact, mail, or transmit a copy of the brochure to the
consumer and review it with them at the earliest opportunity.
Carlos calls a real estate office to obtain a price of a property and
indicates that he would like to buy the property since he needs to be
Questions and Correct Answers Latest
Updated 2025 GRADED A+
Which of the following statements BEST describes the agency options
available for real estate firms?
A) Seller agency, buyer agency, dual agency, and a form of dual
agency called designated agency
B) Unintentional dual agency, seller agency, and buyer agency
C) Dual agency, intentional undisclosed dual agency, and unintentional
dual agency
D) Intentional undisclosed dual agency, seller agency, and buyer
agency
A) Seller agency, buyer agency, dual agency, and a form of dual
agency called designated agency
Best Homes Realty was hired by a buyer to represent them in purchasing
a property. The buyer wanted to have exclusive representation at all
times. What type of agency would BEST describe the relationship
between Best Homes Realty and the buyer?
A) Buyer agency
B) Dual agency
C) Nonagency
D) Seller agency
A) Buyer agency
Dream Homes Realty is showing a buyer client a property listed with
Dream Homes Realty. According to licensing law, which of the following
statements is TRUE?
A) Dream Homes Realty only needs to get informed consent from the
seller prior to showing the property.
B) Dream Homes Realty only needs to get informed consent prior to
showing the property if the buyer ends up making an offer.
C) Dream Homes Realty will need informed consent of both principals.
D) Dream Homes Realty does not need informed consent of both
principals.
,C) Dream Homes Realty will need informed consent of both principals.
A property is listed for sale with one firm and the buyer of that property is
procured by a different firm. This type of transaction is BEST described
as
A) in-house sale.
B) single agency sale.
C) dual agency sale.
D) cooperating sale.
D) cooperating sale.
According to North Carolina Real Estate Commission rules regarding a
broker representing a buyer or offering to represent a buyer in a property
the broker has an ownership interest is
A) illegal because the buyer would be getting all the fiduciary duties
from the owner-broker.
B) illegal because the broker has an obvious conflict of interest.
C) legal because the buyer is allowed to choose the type of agency
representation they would like.
D) legal because the broker can represent the interest of the buyer and
their own interest at the same time.
B) illegal because the broker has an obvious conflict of interest.
Which of the following statements are TRUE regarding the different
agency arrangements possible when firms are cooperating in a real estate
transaction?
A) The cooperating or selling broker who procures the buyer may be
operating as the agent of the buyer or the subagent of the seller.
B) The cooperating or selling broker who procures the buyer is the
same firm that is representing the seller.
C) The cooperating or selling broker is representing the seller as a
seller subagent.
D) The cooperating or selling broker is representing the buyer as a
buyer agent.
A) The cooperating or selling broker who procures the buyer may be
operating as the agent of the buyer or the subagent of the seller.
Hector is one of four members-managers of a limited liability company
(LLC) that owns a commercial building and has decided to sell the
building. Hector, as a manager of the owner- LLC, markets the property
as For Sale by Owner. Jonah contacts Hector to view the property. Upon
meeting Jonah at the property, Hector explains that he is a member-
manager of the owner- LLC and that he has a broker license. Which of
the following statements is FALSE regarding the possible relationship
between the buyer and the seller?
,A) Hector needs to advise Jonah that he is free to seek whatever
representation, advice, or counsel Jonah chooses.
B) Since it is a commercial property and not a residential property,
Hector can represent or offer to represent Jonah.
C) Hector must advise Jonah that although he has a broker license, he
is acting only as a manager of the owner-LLC.
D) Hector is selling a commercial property he has an ownership i
B) Since it is a commercial property and not a residential property,
Hector can represent or offer to represent Jonah.
Greta, a broker, and her two sisters decide to sell a property they own in
their individual names as tenants in common. Because Greta has a license
and is local, her sisters ask her to handle the marketing and sale of the
property, not in her broker capacity, but as one of the co-owners in a For
Sale by Owner situation. Greta advertises the property and discloses she
is a broker-owner. Which of the following statements is TRUE regarding
the relationship with the buyer?
A) Greta is not allowed to represent herself in selling her own property;
she must hire a firm to represent her.
B) Greta may represent or offer to represent a buyer.
C) Greta may not represent or offer to represent a buyer.
D) Greta may represent or offer to represent a buyer as long as it is dual
agency.
C) Greta may not represent or offer to represent a buyer.
All seller agents are required to disclose their agency status in writing to a
prospective buyer at the time the purchase agreement is signed by the
buyer.
False
The Working With Real Estate Agent's disclosure form is only used in
residential sales transactions
False
When the buyer or seller signs the Working With Real Estate Agent's
disclosure form, they are entering into an agency agreement with the firm.
False
The agent checks the appropriate blanks for the agency options, not the
buyer and seller. True
Before a licensee in North Carolina provides any brokerage services to a
buyer, the licensee must review the information in the Working with Real
Estate Agents brochure.
True
Regarding agency disclosure, informed consent means an affirmative
, answer is required. True
First substantial contact is the point in time when the broker and
consumer first meet face to face. False
At what point in the meeting with a seller can the broker provide any
brokerage services to the seller?
A) At initial contact
B) At first substantial contact
C) When the seller signs the acknowledgement panel on the agency
disclosure brochure
D) When the seller signs a listing agreement with the brokerage firm
D) When the seller signs a listing agreement with the brokerage firm
Marcus, a broker with Best Team Realty, is meeting with Naomi about
listing her property for sale. At what point in the relationship do they need
to reduce their representation agreement to writing?
A) At the time when Marcus and Naomi first meet
B) At the time when Naomi shares the motivation for her wanting to
sell her home
C) Up until an offer is made on the property
D) At the time when Marcus and Naomi form their agency relationship
D) At the time when Marcus and Naomi form their agency relationship
When first substantial contact with a prospective buyer or seller occurs by
telephone or other electronic means that make it impractical to give the
person the written brochure, the broker is required to do which of the
following?
A) At the earliest opportunity but no later than seven days from the
date of first substantial contact, mail, or transmit a copy of the brochure to
the consumer and review it with them at the earliest opportunity.
B) The broker must cease all communication with the consumer until
they can meet in person with the broker to review the brochure.
C) The broker must remain neutral and only discuss material facts
about properties until the consumer can meet with the broker in person to
discuss the brochure.
D) At the earliest opportunity but no later than three days from the date
of first substantial contact, mail, or transmit a copy of the brochure to the
consumer and review it with them at the
D) At the earliest opportunity but no later than three days from the date of
first substantial contact, mail, or transmit a copy of the brochure to the
consumer and review it with them at the earliest opportunity.
Carlos calls a real estate office to obtain a price of a property and
indicates that he would like to buy the property since he needs to be
