NC REAL ESTATE EXAM STUDY GUIDE QUESTIONS AND ANSWERS|LATEST 2025/2026|GUARANTEED A+

QUESTIONS AND ANSWERS|LATEST

When did it become mandatory to have a license to do real estate? -
B B B B B B B B B B B B B



B ANSWER July 1, 1957 B B




Who issues licenses? - ANSWER
B B B B NC real estate commission
B B B




Do you have to be licensed to get paid for referrals? -
B B B B B B B B B B B



B ANSWER Yes, you must have an active license
B B B B B B




Brokerage activities requiring a license -
B B B B B



B ANSWER 1. Listing/offering to list real estate for sale/rent
B B B B B B B




2. Selling/buying or offering to sell/buy
B B B B B B




3. Leasing/renting or offering to lease/rent
B B B B B




4. Conducting/offering to conduct a real estate auction
B B B B B B B




5. Selling/buying/leasing/assigning/exchanging interest in real estate in connection w/sale or
B B B B B B B B B B



purchase of business B B




Activities exempt from licensing requirement - ANSWER
B B B B B B 1. Owners/lessors
B




2. Attorney-in-fact
B




3. Receiver, trustee, guardian, administrator, executor, person acting under court order
B B B B B B B B B B




4. Attorney who is a member of the NC state bar
B B B B B B B B B B




5. Salaried employee of broker
B B B B




6. Business entity
B B




Allowed activities of unlicensed, salaried employee -
B B B B B B



B ANSWER 1. Receive/forward calls and messages to broker
B B B B B B




2. Submit listings/changes compiled by broker to MLS
B B B B B B B




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Wicky

,3. Get public records
B B B




4. Place for sale signs and lock boxes on property
B B B B B B B B B




5. Deliver and pick up documents
B B B B B




6. Give basic info to prospective buyers
B B B B B B




7. Coordinate and confirm appointments
B B B B




8. Show rental properties and fill out leases
B B B B B B B




9. Type offers, contracts, and leases that are preprinted
B B B B B B B B




10. Record and deposit earnest money
B B B B B




11. Help assemble closing documents
B B B B




12. Give commission checks
B B B




Broker - ANSWER B B Us! In charge B B




Provisional broker - B B



BANSWER Entry level. Must be supervised by BIC. Temporary status. Must complete PLE
B B B B B B B B B B B B



to bc broker
B B




Applies to anyone who was issued a license on or after April 1 2006
B B B B B B B B B B B B B




BIC - B



B ANSWER Supervises provisional brokers at a certain office. Every office must have one
B B B B B B B B B B B




Separate license category B B




BIC qualifications - ANSWER
B B B Active license B




2 years full-time or 5 years part-time equivalent
B B B B B B B




Complete 12 hr BIC course within 120 days of designation
B B B B B B B B B




Limited non-resident commercial broker -
B B B B



B ANSWER Must be affiliated with an NC firm and supervised by an NC broker
B B B B B B B B B B B B




Separate license B




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,Firm license - ANSWER
B B B License for business entity B B B




Purpose of NC real estate commission -
B B B B B B



B ANSWER To protect the public from real estate brokers
B B B B B B B




How many members are there in the commission? - ANSWER
B B B B B B B B B 9 members
B




Who appoints members to the NC real estate commission? -
B B B B B B B B B



B ANSWER 7 appointed by Governor
B B B




1 by general assembly upon recommendation of President pro tempore of Senate
B B B B B B B B B B B




1 by general assembly upon recommendation of speaker of house of representatives
B B B B B B B B B B B




How many members of the commission must be licensed real estate brokers? -
B B B B B B B B B B B B



B ANSWER 3



How many members of the commission must be members of the public who aren't real estate
B B B B B B B B B B B B B B B



B licensed? - ANSWER B B 2



How long are terms of members on the commission? - ANSWER
B B B B B B B B B B 3 years
B




How many members' terms expire every year? - ANSWER
B B B B B B B B 3



Who elects chairman? - ANSWER
B B B B Members



How long is the chairman's term? - ANSWER
B B B B B B B One year B




Who removes members if they are found guilty of misconduct, incompetency, or willful neglec
B B B B B B B B B B B B B



t? - ANSWER
B B The governor B




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, Who fills vacancies in the commission? - ANSWER
B B B B B B B The governor B




What are the powers of the commission? - ANSWER
B B B B B B B B 1. Licensing brokers and firms
B B B B




2. Registering time share projects
B B B B




3. Establishing and administering PLE and CE programs
B B B B B B B




4. Providing education and info on real estate to licensees and to the public
B B B B B B B B B B B B B




5. Regulating business activity of brokers and firms
B B B B B B B




6. Disciplining violators of the law or of the commission rules
B B B B B B B B B B




What are the specific disciplinary measures that the commission can take? -
B B B B B B B B B B B



B ANSWER 1. Reprimand
B




2. Censure
B




3. Suspend license
B B




4. Revoke license
B B




5. Seek injunctive relief
B B B




Ways to prove you are licensed? - ANSWER
B B B B B B B 1. Renewal pocket card
B B B




2. License certificate
B B




Where are renewal pocket cards kept? - ANSWER
B B B B B B B For a broker - on their person
B B B B B B




For a firm - at the firm
B B B B B B




Where are license certificates kept? - ANSWER
B B B B B B For a BIC -
B B B



in each office where they are BIC
B B B B B B B




For a firm - in each office maintained by firm
B B B B B B B B B




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Wicky