NC REAL ESTATE EXAM 1 (LTP STATE PORTION) EXAM WITH
COMPLETE SOLUTIONS
1.A obuyer's oagent ois oworking owith oa obuyer ounder oa owritten obuyer
oagency oagreement oon oan oin-house osale. oWhen omust othe obuyer's oagent
ohave owritten oconsent ofor odual oagency ofrom othe obuyer?: oBefore othe
obuyer's oagent oshows oany oproperty olisted owith oher ofirm
2.With oregard oto oAd oValorem otaxes, owhich oof othe ofollowing ostatements
ois oTRUE?: oAd oValorem otax orates oare odetermined oby odividing othe ocity
oor ocounty's oannual obudget oby othe ooverall oassessed ovalue oof oreal
oproperty owithin othe ocity oor ocounty.
3.Which oof othe ofollowing ois oa ofiduciary oduty oto oa oprincipal-client, obut
onot oa ocustomer?: oLoyalty
4.Which oof othe ofollowing oactivities owould oincrease othe oequity oin oa
oproperty?: o-
Appreciation oto othe oproperty odue oto ofavorable omarket oconditions oin oa
oarea
5.A obuyer omakes oan ooral ooffer, oand othe oseller ounconditionally
oaccepts. oThe oresulting ocontract ois:: oUnenforceable
6.Anita ois oa omanaging omember oof oFlip oSmart oProperties, oLLC. oShe ohas
obeen otasked owith oidentifying oinvestment oopportunities, onegotiating
ocontracts oon obehalf oof othe oentity oand oseeking othe obuyer's oagent
ocompensation ofrom othe oproperty oowner oand othe olisting ofirm. oWhich oof
othe ofollowing ois oTRUE?: oAnita odoes onot orequire oan oactive oreal
1 o/
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, oestate olicense oand omay onegotiate othe opurchase oon obehalf oof othe
oLLC.
7.Enforcing orestrictive oor oprotective ocovenants orequires owhich oof othe
ofol- olowing?: oA ocivil olawsuit ofiled oby othe ohomeowner oassociation oor
oone oowner oin othe oneighborhood
8.Ownership ounder otenancy oby othe oentirety:: ois opresumed owhen oa
omarried ocouple opurchases oa oproperty oand odoes onot orequest oother
oownership.
9.When ousing othe oNCAR/NCBA ostandard oOffer oto oPurchase, othe obuyer
owill obe oentitled oto oa orefund oof othe oearnest owhen owhich oof othe ofollowing
ooccurs?: oThe obuyer oterminates othe ocontract oin owriting obefore o5 opm
oon othe odue odiligence odate
10.When opre-selling olots oin oa osubdivision, owhen omay othe obuyer oclose
oon othe opurchase oof othe olot?: oWhen othe ofinal oplat ois oapproved oand
orecorded
11.A oproperty oowner owants oto obuild oa ohouse oon othe oonly olot oin oa
osubdivision othat ohas o.98 oacres. oUnder ocurrent ozoning orules, olots omust obe
oat oleast o1 oacre. oThe oowner oshould orequest:: oa ovariance.
12.Which oof othe ofollowing owould obe oa oduty oof oa olicensee?: oMeasuring
othe osquare ofootage oof oa ohome ofor oa oseller owhen odisclosed oin othe
oMLS.
13.A obroker ois oworking ofor oSuper oSales oTeam, oLLC, oa oteam oaffiliated
owith oXYZ oReal oEstate oFirm. oThe obroker otakes oa olisting. oWhich oof othe
ofollowing ois
TRUE?: oThe olisting oagreement omust olist oboth ofirms oas oan oagent, oand
othe obroker omust oinclude ohis olicense onumber
2 o/
o11
COMPLETE SOLUTIONS
1.A obuyer's oagent ois oworking owith oa obuyer ounder oa owritten obuyer
oagency oagreement oon oan oin-house osale. oWhen omust othe obuyer's oagent
ohave owritten oconsent ofor odual oagency ofrom othe obuyer?: oBefore othe
obuyer's oagent oshows oany oproperty olisted owith oher ofirm
2.With oregard oto oAd oValorem otaxes, owhich oof othe ofollowing ostatements
ois oTRUE?: oAd oValorem otax orates oare odetermined oby odividing othe ocity
oor ocounty's oannual obudget oby othe ooverall oassessed ovalue oof oreal
oproperty owithin othe ocity oor ocounty.
3.Which oof othe ofollowing ois oa ofiduciary oduty oto oa oprincipal-client, obut
onot oa ocustomer?: oLoyalty
4.Which oof othe ofollowing oactivities owould oincrease othe oequity oin oa
oproperty?: o-
Appreciation oto othe oproperty odue oto ofavorable omarket oconditions oin oa
oarea
5.A obuyer omakes oan ooral ooffer, oand othe oseller ounconditionally
oaccepts. oThe oresulting ocontract ois:: oUnenforceable
6.Anita ois oa omanaging omember oof oFlip oSmart oProperties, oLLC. oShe ohas
obeen otasked owith oidentifying oinvestment oopportunities, onegotiating
ocontracts oon obehalf oof othe oentity oand oseeking othe obuyer's oagent
ocompensation ofrom othe oproperty oowner oand othe olisting ofirm. oWhich oof
othe ofollowing ois oTRUE?: oAnita odoes onot orequire oan oactive oreal
1 o/
o11
, oestate olicense oand omay onegotiate othe opurchase oon obehalf oof othe
oLLC.
7.Enforcing orestrictive oor oprotective ocovenants orequires owhich oof othe
ofol- olowing?: oA ocivil olawsuit ofiled oby othe ohomeowner oassociation oor
oone oowner oin othe oneighborhood
8.Ownership ounder otenancy oby othe oentirety:: ois opresumed owhen oa
omarried ocouple opurchases oa oproperty oand odoes onot orequest oother
oownership.
9.When ousing othe oNCAR/NCBA ostandard oOffer oto oPurchase, othe obuyer
owill obe oentitled oto oa orefund oof othe oearnest owhen owhich oof othe ofollowing
ooccurs?: oThe obuyer oterminates othe ocontract oin owriting obefore o5 opm
oon othe odue odiligence odate
10.When opre-selling olots oin oa osubdivision, owhen omay othe obuyer oclose
oon othe opurchase oof othe olot?: oWhen othe ofinal oplat ois oapproved oand
orecorded
11.A oproperty oowner owants oto obuild oa ohouse oon othe oonly olot oin oa
osubdivision othat ohas o.98 oacres. oUnder ocurrent ozoning orules, olots omust obe
oat oleast o1 oacre. oThe oowner oshould orequest:: oa ovariance.
12.Which oof othe ofollowing owould obe oa oduty oof oa olicensee?: oMeasuring
othe osquare ofootage oof oa ohome ofor oa oseller owhen odisclosed oin othe
oMLS.
13.A obroker ois oworking ofor oSuper oSales oTeam, oLLC, oa oteam oaffiliated
owith oXYZ oReal oEstate oFirm. oThe obroker otakes oa olisting. oWhich oof othe
ofollowing ois
TRUE?: oThe olisting oagreement omust olist oboth ofirms oas oan oagent, oand
othe obroker omust oinclude ohis olicense onumber
2 o/
o11
