301- NC POST LICENSING QUESTIONS
WITH ACCURATE ANSWERS
Who gets paid in an Exclusive Right to Sell listing agreement? -
CORRECT_ANSWER_The listing agent, regardless of who brings a buyer, and likely
the buyer agent
Who gets paid in an exclusive listing agreement? - CORRECT_ANSWER_Whomever
brings a buyer
Who can sell a property in an Open listing? - CORRECT_ANSWER_Any actively
licensed agent
In a net listing money above the asking price is paid to whom? -
CORRECT_ANSWER_Listing Agent
, Who is the actual agent to the principle in a transaction? -
CORRECT_ANSWER_The Firm (Individual agents are sub agents to seller)
No M.O.G. is needed for what 3 listings? - CORRECT_ANSWER_Lease to purchase,
1st Dwelling, and Foreclosure
When should WWREA be explained / signed? - CORRECT_ANSWER_At first
substantial contact
If you miss the 6/10 Deadline for CE what must you do to re-activate your license?
- CORRECT_ANSWER_Complete latest General Update (4 Hours), and 3 CE Classes
(4 hours each) Total of 16 hours
Under NC License Law who can be held responsible for reporting Material Facts? -
CORRECT_ANSWER_Only Agents... (License Law)
Under Civil /Criminal law who can be held responsible for reporting Material
Facts? - CORRECT_ANSWER_Principles
WITH ACCURATE ANSWERS
Who gets paid in an Exclusive Right to Sell listing agreement? -
CORRECT_ANSWER_The listing agent, regardless of who brings a buyer, and likely
the buyer agent
Who gets paid in an exclusive listing agreement? - CORRECT_ANSWER_Whomever
brings a buyer
Who can sell a property in an Open listing? - CORRECT_ANSWER_Any actively
licensed agent
In a net listing money above the asking price is paid to whom? -
CORRECT_ANSWER_Listing Agent
, Who is the actual agent to the principle in a transaction? -
CORRECT_ANSWER_The Firm (Individual agents are sub agents to seller)
No M.O.G. is needed for what 3 listings? - CORRECT_ANSWER_Lease to purchase,
1st Dwelling, and Foreclosure
When should WWREA be explained / signed? - CORRECT_ANSWER_At first
substantial contact
If you miss the 6/10 Deadline for CE what must you do to re-activate your license?
- CORRECT_ANSWER_Complete latest General Update (4 Hours), and 3 CE Classes
(4 hours each) Total of 16 hours
Under NC License Law who can be held responsible for reporting Material Facts? -
CORRECT_ANSWER_Only Agents... (License Law)
Under Civil /Criminal law who can be held responsible for reporting Material
Facts? - CORRECT_ANSWER_Principles
