Page 1 of 12
301- NC POST LICENSING EXAM | FREQUENTLY
TESTED QUESTIONS WITH CORRECT
ANSWERS | BRAND NEW!
May a principle be held responsible for mis-information as it
relates to a material fact? - ✔✔✔ Correct Answer > Yes. Typically civilly
or criminally
The provision in a listing agreement that may obligate seller to
pay a commission after the agreement has expired is called? -
✔✔✔ Correct Answer > Override Clause or Extender Clause
A listing agreement is said to be what, if the principle dies during
the agreement? - ✔✔✔ Correct Answer > Automatically Terminated
If a Seller refuses to sign an offer for less than list price, is a
commission due? - ✔✔✔ Correct Answer > No. It is not due, until Seller
agrees upon the price and signs
What are considered Trigger items in Regulation Z? - ✔✔✔ Correct
Answer > Any Numbers/Numerical characters, except for Seller
Closing Cost
, Page 2 of 12
Is a CMA mandatory when listing a property? - ✔✔✔ Correct Answer >
Yes. It is an agent's duty to perform a CMA for Seller
What would a "Latent" material fact be? - ✔✔✔ Correct Answer > A
very well hidden fact... (Behind Walls)
Is a broker with multiple buyers considered a dual agent? - ✔✔✔
Correct Answer > No, A dual agent represents both principles in a
single transaction
Does the WWREA brochure have an option for Seller Sub
Agency? - ✔✔✔ Correct Answer > Yes. it is a check box on the last page
May an unlicensed employee designate an agent for dual agency?
- ✔✔✔ Correct Answer > Yes. If there is a company policy stating this
May a Principle refuse to sign the WWREA? - ✔✔✔ Correct Answer >
Yes. Agent just needs to write "Refused to sign"
When measuring the square footage of stairs always remember
to? - ✔✔✔ Correct Answer > Include the square footage on the first
floor, and include the square footage on the 2nd floor as well
301- NC POST LICENSING EXAM | FREQUENTLY
TESTED QUESTIONS WITH CORRECT
ANSWERS | BRAND NEW!
May a principle be held responsible for mis-information as it
relates to a material fact? - ✔✔✔ Correct Answer > Yes. Typically civilly
or criminally
The provision in a listing agreement that may obligate seller to
pay a commission after the agreement has expired is called? -
✔✔✔ Correct Answer > Override Clause or Extender Clause
A listing agreement is said to be what, if the principle dies during
the agreement? - ✔✔✔ Correct Answer > Automatically Terminated
If a Seller refuses to sign an offer for less than list price, is a
commission due? - ✔✔✔ Correct Answer > No. It is not due, until Seller
agrees upon the price and signs
What are considered Trigger items in Regulation Z? - ✔✔✔ Correct
Answer > Any Numbers/Numerical characters, except for Seller
Closing Cost
, Page 2 of 12
Is a CMA mandatory when listing a property? - ✔✔✔ Correct Answer >
Yes. It is an agent's duty to perform a CMA for Seller
What would a "Latent" material fact be? - ✔✔✔ Correct Answer > A
very well hidden fact... (Behind Walls)
Is a broker with multiple buyers considered a dual agent? - ✔✔✔
Correct Answer > No, A dual agent represents both principles in a
single transaction
Does the WWREA brochure have an option for Seller Sub
Agency? - ✔✔✔ Correct Answer > Yes. it is a check box on the last page
May an unlicensed employee designate an agent for dual agency?
- ✔✔✔ Correct Answer > Yes. If there is a company policy stating this
May a Principle refuse to sign the WWREA? - ✔✔✔ Correct Answer >
Yes. Agent just needs to write "Refused to sign"
When measuring the square footage of stairs always remember
to? - ✔✔✔ Correct Answer > Include the square footage on the first
floor, and include the square footage on the 2nd floor as well
