NC REAL ESTATE EXAM QUESTIONS
WITH 100% COMPLETE SOLUTIONS|
LATEST UPDATE
Who chooses the members of the NCREC?
A. General assembly
B. Public voting
C. Governor
D. A & C only - correct answer-D) A & C only
7 of the members are appointed by the governor and 2 by general assembly. 1 of the
members appointed by the general assembly is appointed on the recommendation of
the President Pro Tempore and the other on the recommendation of the Speaker of the
House of Representatives.
How many members of the NCREC must be licensed brokers?
A. 7
B. 2
C. 3
D. 5 - correct answer-C) 3
3 members of the NCREC need to be licensed brokers, the rest of the members do not
need to be licensed.
The members of the NCREC shall not do which of the following?
A. Make rules or regulations regulating commission salaries
B. Suspend or revoke a license at any time
C. Take disciplinary action against a licensee who makes any willful or negligent
misrepresentation of any material fact
D. NCREC is allowed to do all of the above - correct answer-A) Make rules or
regulations regulating commission salaries.
The NCREC cannot make rules or regulations regulating salaries or fees to be charged
by licensees. They can, however revoke or suspend licenses and take disciplinary
actions against a licensee.
, North Carolina requires a broker to have a demand deposit in a ____________.
A. Commercial bank
B. Federally insured depository institutuion
C. Credit union
D. Savings and loan association - correct answer-B) Federally insured depository
institution
The account must be in a federally insured depository institution, which is a bank or
savings association that insures the deposit by the federal deposit insurance
corporation.
The NCREC has the authority to issue a _______ for the appearance of witnesses
deemed necessary to testify.
A. Subpoena
B. Lawsuit
C. Request
D. None of the above - correct answer-A) A subpoena
The NREC has the authority to issue a subpoena for the appearance of witnesses
deemed necessary to testify before or investigated by the commission. They may also
issue a subpoena for records, documents, or other materials necessary for the
investigation.
An unlicensed person is practicing real estate in North Carolina, what action can the
NCREC take?
A. Fine the person
B. Issue a cease-and-desist order
C. Pursue disciplinary action
D. None of the above - correct answer-B) Issue a cease and desist order
While the NREC does not have the authority to discipline a non-licensed person, they
do have the power to issue a cease-and-desist order.
Who is responsible for setting guidelines for real estate education?
A. Governor
B. House of Representative
C. NCREC
D. State senators - correct answer-C) NCREC
WITH 100% COMPLETE SOLUTIONS|
LATEST UPDATE
Who chooses the members of the NCREC?
A. General assembly
B. Public voting
C. Governor
D. A & C only - correct answer-D) A & C only
7 of the members are appointed by the governor and 2 by general assembly. 1 of the
members appointed by the general assembly is appointed on the recommendation of
the President Pro Tempore and the other on the recommendation of the Speaker of the
House of Representatives.
How many members of the NCREC must be licensed brokers?
A. 7
B. 2
C. 3
D. 5 - correct answer-C) 3
3 members of the NCREC need to be licensed brokers, the rest of the members do not
need to be licensed.
The members of the NCREC shall not do which of the following?
A. Make rules or regulations regulating commission salaries
B. Suspend or revoke a license at any time
C. Take disciplinary action against a licensee who makes any willful or negligent
misrepresentation of any material fact
D. NCREC is allowed to do all of the above - correct answer-A) Make rules or
regulations regulating commission salaries.
The NCREC cannot make rules or regulations regulating salaries or fees to be charged
by licensees. They can, however revoke or suspend licenses and take disciplinary
actions against a licensee.
, North Carolina requires a broker to have a demand deposit in a ____________.
A. Commercial bank
B. Federally insured depository institutuion
C. Credit union
D. Savings and loan association - correct answer-B) Federally insured depository
institution
The account must be in a federally insured depository institution, which is a bank or
savings association that insures the deposit by the federal deposit insurance
corporation.
The NCREC has the authority to issue a _______ for the appearance of witnesses
deemed necessary to testify.
A. Subpoena
B. Lawsuit
C. Request
D. None of the above - correct answer-A) A subpoena
The NREC has the authority to issue a subpoena for the appearance of witnesses
deemed necessary to testify before or investigated by the commission. They may also
issue a subpoena for records, documents, or other materials necessary for the
investigation.
An unlicensed person is practicing real estate in North Carolina, what action can the
NCREC take?
A. Fine the person
B. Issue a cease-and-desist order
C. Pursue disciplinary action
D. None of the above - correct answer-B) Issue a cease and desist order
While the NREC does not have the authority to discipline a non-licensed person, they
do have the power to issue a cease-and-desist order.
Who is responsible for setting guidelines for real estate education?
A. Governor
B. House of Representative
C. NCREC
D. State senators - correct answer-C) NCREC
