NC POST LICENSING – 303 QUESTIONS AND ANSWERS 2025
Can an inactive agent be paid a referral commission if they were active at the time they made the
referral? - (ANSWER)Yes. If and only if they were active at time of referral
Must Dual Agency be in writing? - (ANSWER)Before an offer is made, Yes. Dual agency must be in writing
and signed by both parties
At a listing appointment, the agent should be gathering all information for listing and what? -
(ANSWER)Advertising
May a BIC and their Provisional Broker enter into dual agency together? - (ANSWER)No. Because the BIC
oversees the PBs transactions, this would be a conflict of interest
When must all agency be "Written" - (ANSWER)Prior to first offer
Are all in-house transactions Dual Agency? - (ANSWER)No. The exceptions would be Seller Sub Agency or
Unrepresented Buyers
Can The Real Estate Commission fine brokers? - (ANSWER)No. They can only reprimand, suspend, and
revoke licenses
Who can sue agents civilly for monetary compensation? - (ANSWER)Principles of a transaction
If Dual Agency is not disclosed is a commission due? - (ANSWER)No. Therefore it is imperative to disclose
dual agency before any offers are written
As a dual agent, the agent's duties are reduced to what? - (ANSWER)Contractual Obligations
What must all agency agreements have? - (ANSWER)A beginning and ending date
, NC POST LICENSING – 303 QUESTIONS AND ANSWERS 2025
Oral to Oral & Written to Written describe what? - (ANSWER)The permissions needed to show a
property as a "Dual Agent"
What should every agent bring to a listing appointment? - (ANSWER)Deed, Plot Map, Tax Info, RPD,
MOG, Listing Agreement (Several Other items)
Who gets paid in an Exclusive Right to Sell listing agreement? - (ANSWER)The listing agent, regardless of
who brings a buyer, and likely the buyer agent
Who gets paid in an exclusive listing agreement? - (ANSWER)Whomever brings a buyer
Who can sell a property in an Open listing? - (ANSWER)Any actively licensed agent
In a net listing money above the asking price is paid to whom? - (ANSWER)Listing Agent
Who is the actual agent to the principle in a transaction? - (ANSWER)The Firm (Individual agents are sub
agents to seller)
No M.O.G. is needed for what 3 listings? - (ANSWER)Lease to purchase, 1st Dwelling, and Foreclosure
When should WWREA be explained / signed? - (ANSWER)At first substantial contact
If you miss the 6/10 Deadline for CE what must you do to re-activate your license? - (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? - (ANSWER)Only
Agents... (License Law)
Under Civil /Criminal law who can be held responsible for reporting Material Facts? -
(ANSWER)Principles
Can an inactive agent be paid a referral commission if they were active at the time they made the
referral? - (ANSWER)Yes. If and only if they were active at time of referral
Must Dual Agency be in writing? - (ANSWER)Before an offer is made, Yes. Dual agency must be in writing
and signed by both parties
At a listing appointment, the agent should be gathering all information for listing and what? -
(ANSWER)Advertising
May a BIC and their Provisional Broker enter into dual agency together? - (ANSWER)No. Because the BIC
oversees the PBs transactions, this would be a conflict of interest
When must all agency be "Written" - (ANSWER)Prior to first offer
Are all in-house transactions Dual Agency? - (ANSWER)No. The exceptions would be Seller Sub Agency or
Unrepresented Buyers
Can The Real Estate Commission fine brokers? - (ANSWER)No. They can only reprimand, suspend, and
revoke licenses
Who can sue agents civilly for monetary compensation? - (ANSWER)Principles of a transaction
If Dual Agency is not disclosed is a commission due? - (ANSWER)No. Therefore it is imperative to disclose
dual agency before any offers are written
As a dual agent, the agent's duties are reduced to what? - (ANSWER)Contractual Obligations
What must all agency agreements have? - (ANSWER)A beginning and ending date
, NC POST LICENSING – 303 QUESTIONS AND ANSWERS 2025
Oral to Oral & Written to Written describe what? - (ANSWER)The permissions needed to show a
property as a "Dual Agent"
What should every agent bring to a listing appointment? - (ANSWER)Deed, Plot Map, Tax Info, RPD,
MOG, Listing Agreement (Several Other items)
Who gets paid in an Exclusive Right to Sell listing agreement? - (ANSWER)The listing agent, regardless of
who brings a buyer, and likely the buyer agent
Who gets paid in an exclusive listing agreement? - (ANSWER)Whomever brings a buyer
Who can sell a property in an Open listing? - (ANSWER)Any actively licensed agent
In a net listing money above the asking price is paid to whom? - (ANSWER)Listing Agent
Who is the actual agent to the principle in a transaction? - (ANSWER)The Firm (Individual agents are sub
agents to seller)
No M.O.G. is needed for what 3 listings? - (ANSWER)Lease to purchase, 1st Dwelling, and Foreclosure
When should WWREA be explained / signed? - (ANSWER)At first substantial contact
If you miss the 6/10 Deadline for CE what must you do to re-activate your license? - (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? - (ANSWER)Only
Agents... (License Law)
Under Civil /Criminal law who can be held responsible for reporting Material Facts? -
(ANSWER)Principles
