1|Page
301 NC POST LICENSING EXAM NEWST EXAM |
COMPLETE QUESTIONS AND CORRECT
ANSWERS | GRADED A+ | VERIFIED ANSWERS
| LATEST VERSION
A 28/36 qualifying ratio means that 28% of the borrower's total
gross monthly income can be applied to monthly housing
expense. - . . ANSWER ✓✓ True
A broker and REALTOR® notices a for-sale sign at a home in his
neighborhood. The home is listing with a brokerage company
other than his. The broker is allowed to contact the seller by
email to solicit the listing. - . . ANSWER ✓✓ False
A broker is always entitled to a commission if the broker finds a
buyer for a consumer's property. - . . ANSWER ✓✓ False
A broker is determining what price sellers need to sell their
home for to net $78,000. The sellers have a loan payoff of
$126,000. The broker has estimated their other closing costs to
be $850 and the commission rate is 7%. What price did the
broker tell the sellers they would need to sell their home for?
A) $220,268
,2|Page
B) $190,510
C) $197,880
D) $211,185 - . . ANSWER ✓✓ A) $220,268
A broker who works for a real estate firm has a property listing
from a client. A second broker who works for the same firm
would like to show a client that property. This is a dual agency
situation. - . . ANSWER ✓✓ True
A broker, Wyatt, is meeting with the sellers to discuss listing
price. The sellers are wondering how long Wyatt thinks it may
take for their home to sell. They need to move quickly because of
a job transfer. What would be the BEST advice for Wyatt to give
to the sellers regarding pricing?
A) Wyatt should suggest listing at the bottom of the comparative
market analysis price range.
B) Wyatt should not make any recommendations.
C) Wyatt should be the one to decide the listing price himself
since he is the professional.
D) Wyatt should suggest listing at the top of the comparative
market analysis price range. - . . ANSWER ✓✓ A) Wyatt should
suggest listing at the bottom of the comparative market analysis
price range.
A buyer and a seller are negotiating the terms of a possible
contract. The seller counteroffers to the buyer, and the buyer
,3|Page
wants to think about it overnight. The next day the buyer calls the
selling agent and says they would like to accept the seller's
counteroffer. Before verifying that the buyer had actually signed
the counteroffer, the selling agent calls the listing agent to say
the buyer had accepted the seller's counteroffer. The seller then
goes on to purchase another house based on the buyer's
"acceptance" of their counteroffer. When the selling agent goes
to pick up the signed paperwork from the buyer, the buyer states
they never signed the counteroffer and do not want to buy the
seller's home. Which of the following statements is correct?
A) The selling agent is not responsible for the misrepresentation.
B) Both the buyer and the selling agent are responsible for the
misrepresentation.
C) Neither the buyer - . . ANSWER ✓✓ D) The selling agent is
responsible for the misrepresentation.
A buyer has an annual income of $92,000 with recurring monthly
debt of $700 that does not include housing expenses. If the
lender's qualifying ratios are 28% and 36%, what is the maximum
monthly house payment for which he can qualify?
A) $2,059
B) $1,446
C) $2,759
D) $2,146 - . . ANSWER ✓✓ A) $2,059
, 4|Page
A couple purchased a home for $225,000 with $6,200 additional
in closing expenses. The seller would like to sell their house for
$250,000 and the listing broker estimates that total closing
expenses (including 5% brokerage fee) on such a sale would be
$14,000. What would the sellers' projected net profit on this sale
be?
A) $45,200
B) $32,800
C) $11,000
D) $4,800 - . . ANSWER ✓✓ D) $4,800
A homeowner purchased a house for $180,000 and paid an
additional $7,500 in closing expenses. The homeowner wants to
sell the house for $225,000 and the listing broker estimates that
total closing expenses (including 5% brokerage fee) on such a
sale would be $13,000. The homeowner's projected net profit on
this sale would be
A) $45,500.
B) $24,500.
C) $34,000.
D) $32,000. - . . ANSWER ✓✓ B) $24,500.
A lender uses gross income to determine the expense-to-
income ratios to qualify a buyer. - . . ANSWER ✓✓ True
301 NC POST LICENSING EXAM NEWST EXAM |
COMPLETE QUESTIONS AND CORRECT
ANSWERS | GRADED A+ | VERIFIED ANSWERS
| LATEST VERSION
A 28/36 qualifying ratio means that 28% of the borrower's total
gross monthly income can be applied to monthly housing
expense. - . . ANSWER ✓✓ True
A broker and REALTOR® notices a for-sale sign at a home in his
neighborhood. The home is listing with a brokerage company
other than his. The broker is allowed to contact the seller by
email to solicit the listing. - . . ANSWER ✓✓ False
A broker is always entitled to a commission if the broker finds a
buyer for a consumer's property. - . . ANSWER ✓✓ False
A broker is determining what price sellers need to sell their
home for to net $78,000. The sellers have a loan payoff of
$126,000. The broker has estimated their other closing costs to
be $850 and the commission rate is 7%. What price did the
broker tell the sellers they would need to sell their home for?
A) $220,268
,2|Page
B) $190,510
C) $197,880
D) $211,185 - . . ANSWER ✓✓ A) $220,268
A broker who works for a real estate firm has a property listing
from a client. A second broker who works for the same firm
would like to show a client that property. This is a dual agency
situation. - . . ANSWER ✓✓ True
A broker, Wyatt, is meeting with the sellers to discuss listing
price. The sellers are wondering how long Wyatt thinks it may
take for their home to sell. They need to move quickly because of
a job transfer. What would be the BEST advice for Wyatt to give
to the sellers regarding pricing?
A) Wyatt should suggest listing at the bottom of the comparative
market analysis price range.
B) Wyatt should not make any recommendations.
C) Wyatt should be the one to decide the listing price himself
since he is the professional.
D) Wyatt should suggest listing at the top of the comparative
market analysis price range. - . . ANSWER ✓✓ A) Wyatt should
suggest listing at the bottom of the comparative market analysis
price range.
A buyer and a seller are negotiating the terms of a possible
contract. The seller counteroffers to the buyer, and the buyer
,3|Page
wants to think about it overnight. The next day the buyer calls the
selling agent and says they would like to accept the seller's
counteroffer. Before verifying that the buyer had actually signed
the counteroffer, the selling agent calls the listing agent to say
the buyer had accepted the seller's counteroffer. The seller then
goes on to purchase another house based on the buyer's
"acceptance" of their counteroffer. When the selling agent goes
to pick up the signed paperwork from the buyer, the buyer states
they never signed the counteroffer and do not want to buy the
seller's home. Which of the following statements is correct?
A) The selling agent is not responsible for the misrepresentation.
B) Both the buyer and the selling agent are responsible for the
misrepresentation.
C) Neither the buyer - . . ANSWER ✓✓ D) The selling agent is
responsible for the misrepresentation.
A buyer has an annual income of $92,000 with recurring monthly
debt of $700 that does not include housing expenses. If the
lender's qualifying ratios are 28% and 36%, what is the maximum
monthly house payment for which he can qualify?
A) $2,059
B) $1,446
C) $2,759
D) $2,146 - . . ANSWER ✓✓ A) $2,059
, 4|Page
A couple purchased a home for $225,000 with $6,200 additional
in closing expenses. The seller would like to sell their house for
$250,000 and the listing broker estimates that total closing
expenses (including 5% brokerage fee) on such a sale would be
$14,000. What would the sellers' projected net profit on this sale
be?
A) $45,200
B) $32,800
C) $11,000
D) $4,800 - . . ANSWER ✓✓ D) $4,800
A homeowner purchased a house for $180,000 and paid an
additional $7,500 in closing expenses. The homeowner wants to
sell the house for $225,000 and the listing broker estimates that
total closing expenses (including 5% brokerage fee) on such a
sale would be $13,000. The homeowner's projected net profit on
this sale would be
A) $45,500.
B) $24,500.
C) $34,000.
D) $32,000. - . . ANSWER ✓✓ B) $24,500.
A lender uses gross income to determine the expense-to-
income ratios to qualify a buyer. - . . ANSWER ✓✓ True
