301 NC POST-LICENSING PRACTICE
EXAM Questions with 100% Correct
Answers Latest Versions 2025 GRADED
A+
Alexia is purchasing her first home and has hired Vijay with Home Town Realty to help her.
Vijay has found five homes that meet Alexia's requirements and one of the homes is being
represented by the seller as a For Sale by Owner (FSBO). Is Vijay allowed to offer the seller
any agency representation?
A) Yes, Vijay can offer the seller dual agency representation even without buyer's
permission.
B) No, Vijay is not allowed to solicit listings because it is against the law.
C) No, Vijay is the buyer's agent and cannot offer representation to the seller.
D) Yes, Vijay, with the buyer's permission, can offer the seller dual agency
representation. - ✅✅-D) Yes, Vijay, with the buyer's permission, can offer the seller dual
agency representation.
Alfonso tells a prospective buyer that, in his opinion, the property they are about to view is
the most beautiful property in the neighborhood. Even if the property would be considered to
many as being very unattractive, the nature of Alfonso's statement would be considered as
A) willful misrepresentation.
B) negligent misrepresentation.
C) false advertising.
D) puffing. - ✅✅-D) puffing.
Alice has been looking at some properties with an agent working as a seller subagent. She
now wants to have the agent work as a buyer's agent on one of the properties. After the
agent gets permission from the seller to cancel their agreement, what must that agent share
now that Alice has hired them as her buyer agent?
A) The buyer agent owes fiduciary duties to Alice now and is required to share any
information about the seller that could get the buyer a better deal.
B) The buyer agent can provide a limited number of fiduciary duties since he possesses
personal, confidential information about the seller.
C) The buyer agent owes fiduciary duties to both Alice and the seller and must remain
neutral.
D) The buyer agent owes fiduciary duties to Alice now and cannot share any personal,
confidential information about the seller. - ✅✅-A) The buyer agent owes fiduciary duties to
Alice now and is required to share any information
about the seller that could get the buyer a better deal.
All of the following are actions that the North Carolina Real Estate Commission (NCREC) can
take against a broker/provisional broker license EXCEPT
A) confiscate.
B) reprimand.
C) revoke.
D) suspend. - ✅✅-A) confiscate.
All of the following are main uses of a multiple listing service EXCEPT
A) all member brokers can search for properties to show to prospective buyers by
entering basic requirements of the prospect into the computer.
B) all member brokers can have access to all firms' listing agreements.
C) all member brokers can access all MLS data directly by computer and print a hard
copy of the data sheet.
,D) all member brokers can search and select possible comparable sales for use by
brokers in preparing a comparative market analysis. - ✅✅-B) all member brokers can have
access to all firms' listing agreements.
All of the following are ways that a listing agreement can be terminated without further liability
EXCEPT
A) Dissolution of the brokerage firm
B) Destruction of the listed property
C) Death of the listing broker
D) Death or insanity of the owner - ✅✅-C) Death of the listing broker
All of the following must be considered in ensuring compliance with the CAN-SPAM Act
EXCEPT
A) the message must not be identified as advertisement.
B) the header information cannot be false or misleading.
C) the subject line cannot be deceptive.
D) the message must include a valid, physical postal address. - ✅✅-A) the message
must not be identified as advertisement.
All of the following statements are true regarding a real estate broker (or firm) proposing to
work with a prospective buyer as a buyer's agent EXCEPT
A) The broker (or firm) needs to have an oral agreement first before putting the
agreement in writing.
B) The broker (or firm) needs to have an express agreement regarding all of the terms of
the working relationship prior to providing services.
C) The broker (or firm) is allowed to provide an oral buyer agency agreement for a
limited period of time under certain circumstances.
D) The broker (or firm) needs to have the agreement in writing prior to making an offer. -
✅✅-A) The broker (or firm) needs to have an oral agreement first before putting the
agreement in writing.
All of the following statements are TRUE regarding the benefits of MLS operations EXCEPT
A) brokers working with buyers will still need to negotiate individual cooperative
commission agreements with each listing broker and seller.
B) sellers benefit because MLS-listed properties generally sell much faster than
properties not listed in the MLS.
C) brokers working with buyers have access to all the listings in MLS rather than just
those listed with their firm.
D) some MLS systems have agreements with national websites making properties
accessible to any person with internet access. - ✅✅-A) brokers working with buyers will
still need to negotiate individual cooperative
commission agreements with each listing broker and seller.
All of the following statements regarding payment of an agent in a real estate transaction is
true EXCEPT
A) Payment of a firm by a buyer or seller does not create an agency relationship; the
agency agreement between the buyer or seller creates the agency relationship.
B) When a seller agrees to pay a buyer agent's firm, the payment does not automatically
create an agency relationship between the seller and the buyer agent's firm.
C) In a buyer agency agreement, the buyer can obligate the buyer agent firm to first seek
the firm's compensation from the seller first, and then if the seller does not pay, the buyer
must pay the buyer agent firm.
D) When a seller agrees to pay a buyer agent's firm, the payment
automatically creates an agency relationship between the seller and the buyer agent's firm. -
✅✅-D) When a seller agrees to pay a buyer agent's firm, the payment automatically
creates an agency relationship between the seller and
the buyer agent's firm.
,All of the following topics are okay to discuss at a local REALTOR® association meeting
EXCEPT
A) planning a tech fair for all members.
B) raising money and gifts for the holiday season.
C) offering computer training for all members.
D) setting fees that all affiliated members must charge consumers. - ✅✅-D) setting
fees that all affiliated members must charge consumers.
All seller agents are required to disclose their agency status in writing to a prospective buyer
at the time the purchase agreement is signed by the buyer.
- ✅✅-False
All the following are considered categories of "material fact" EXCEPT
A) facts directly affecting the property.
B) facts about the property itself.
C) the seller's reasons for selling.
D) facts of special importance to a party. - ✅✅-C) the seller's reasons for selling.
Allyson is in process of purchasing an investment property and is not sure if she is ready to
work with one firm exclusively. Which of the following would NOT be an agency option for
Allyson?
A) Allyson could represent herself and the agent could work as a seller subagent.
B) Allyson could agree to an exclusive oral buyer agency agreement.
C) Allyson could agree to a nonexclusive oral buyer agency agreement.
D) Allyson could agree to a written nonexclusive buyer agency agreement. -
✅✅-B) Allyson could agree to an exclusive oral buyer agency agreement.
Although the form does not contain any such provision, agents are cautioned against
inserting any prior notice or automatic renewal provision in the form. -
✅✅-True
Alyssa is a buyer's agent for LaTosha and makes an appointment to preview a property listed
For Sale by Owner (FSBO). Which of the following statements is TRUE?
A) Alyssa will represent LaTosha and the FSBO seller will be represented by the listing
firm.
B) Alyssa will fully disclose to the FSBO seller her status as a buyer's agent.
C) Alyssa will be a designated agent for LaTosha and for the FSBO seller.
D) Alyssa will automatically represent both LaTosha and the FSBO seller. -
✅✅-B) Alyssa will fully disclose to the FSBO seller her status as a buyer's agent.
An advertisement that references a "low down payment" would trigger additional disclosures
under TILA's Regulation Z. - ✅✅-False; specific credit terms
An agent's duties to third parties include all the following EXCEPT
A) fairness.
B) obedience.
C) disclosure of material fact.
D) honesty. - ✅✅-B) obedience.
Antonio, a broker affiliated with Best Homes Realty, is assisting a buyer-client with the
purchase of a home. What is Antonio's duty to discover if a listed property will involve a short
sale?
A) Antonio needs to ask the listing agent if the property is a short sale.
B) Antonio needs to reach out to the lender directly to determine if the property is a short
sale.
C) Antonio has no duty to discover if the property is a short sale because the information
will not affect the buyer.
, D) Antonio has no duty to the buyer to confirm if a property is a short sale. -
✅✅-A) Antonio needs to ask the listing agent if the property is a short sale.
April is affiliated with Green Acres Realty and representing a buyer, Eyla. They are looking at
several properties including one where the seller is representing themselves. In this situation,
which of the following scenarios is possible?
A) April could represent both the buyer and the seller with both parties' consent.
B) April could represent both the buyer and the seller with only the seller's consent.
C) April could represent both the buyer and seller without consent of either party.
D) April could represent both the buyer and the seller with only the buyer's consent. -
✅✅-A) April could represent both the buyer and the seller with both parties' consent.
Ariel has just received her North Carolina real estate license in the mail after passing the
state licensing exam. What is the status of Ariel's license at this time?
A) Active broker
B) Inactive provisional broker
C) Active provisional broker
D) Pending broker - ✅✅-B) Inactive provisional broker
Armin, a broker affiliated with Best Homes Realty, listed a property for sale and conducted an
open house. Courtney visited the open house and decided to make an offer. The seller had
completed the Residential Property and Owners' Association Disclosure Statement
(RPOADS) indicating all defects the seller knows that exist about the property. In this
situation, which of the following statements is TRUE?
A) Courtney needs to be advised to still conduct a full home inspection.
B) Since the seller disclosed all known material facts, they have complied with the
Doctrine of Caveat Emptor and Courtney does not need to complete a full home inspection.
C) Since the seller disclosed all known material facts that they were aware of, Courtney
does not need to complete a full home inspection.
D) Armin can assure Courtney that the seller has disclosed all material facts and she
does not need to get her own home inspection. - ✅✅-A) Courtney needs to be advised to
still conduct a full home inspection.
As they are walking through the property, Corean is pointing out several things regarding the
property and asking Ryder questions about his property. What is one of the items that
Corean is inquiring about during this phase of the prelisting meeting?
A) What Ryder's needs and desires are regarding time of sale and what he would be
willing to accept as a sales price
B) Which personal property will sell with the property and which fixtures Ryder will be
removing
C) How Ryder would like his property marketed
D) How much Ryder will net at closing - ✅✅-B) Which personal property will sell with
the property and which fixtures Ryder will be removing
Asher currently has an oral buyer agency agreement with Gavin. If Asher wants to bind Gavin
for a period of time or wants to restrict Gavin from working with other real estate firms, what
will Asher need to do?
A) Asher and Gavin can have an exclusive oral agreement up to the time Gavin wants to
make an offer.
B) Asher and Gavin will need to enter into a formal oral buyer agency agreement.
C) Asher and Gavin can have an exclusive agency relationship when their express
agreement is oral.
D) Asher and Gavin will need to enter into a written exclusive buyer agency agreement. -
✅✅-D) Asher and Gavin will need to enter into a written exclusive buyer agency
agreement.
At the prelisting meeting, the broker needs to discuss the brokerage fee. What does the
broker need to determine prior to attending the prelisting meeting regarding the firm's fee?
EXAM Questions with 100% Correct
Answers Latest Versions 2025 GRADED
A+
Alexia is purchasing her first home and has hired Vijay with Home Town Realty to help her.
Vijay has found five homes that meet Alexia's requirements and one of the homes is being
represented by the seller as a For Sale by Owner (FSBO). Is Vijay allowed to offer the seller
any agency representation?
A) Yes, Vijay can offer the seller dual agency representation even without buyer's
permission.
B) No, Vijay is not allowed to solicit listings because it is against the law.
C) No, Vijay is the buyer's agent and cannot offer representation to the seller.
D) Yes, Vijay, with the buyer's permission, can offer the seller dual agency
representation. - ✅✅-D) Yes, Vijay, with the buyer's permission, can offer the seller dual
agency representation.
Alfonso tells a prospective buyer that, in his opinion, the property they are about to view is
the most beautiful property in the neighborhood. Even if the property would be considered to
many as being very unattractive, the nature of Alfonso's statement would be considered as
A) willful misrepresentation.
B) negligent misrepresentation.
C) false advertising.
D) puffing. - ✅✅-D) puffing.
Alice has been looking at some properties with an agent working as a seller subagent. She
now wants to have the agent work as a buyer's agent on one of the properties. After the
agent gets permission from the seller to cancel their agreement, what must that agent share
now that Alice has hired them as her buyer agent?
A) The buyer agent owes fiduciary duties to Alice now and is required to share any
information about the seller that could get the buyer a better deal.
B) The buyer agent can provide a limited number of fiduciary duties since he possesses
personal, confidential information about the seller.
C) The buyer agent owes fiduciary duties to both Alice and the seller and must remain
neutral.
D) The buyer agent owes fiduciary duties to Alice now and cannot share any personal,
confidential information about the seller. - ✅✅-A) The buyer agent owes fiduciary duties to
Alice now and is required to share any information
about the seller that could get the buyer a better deal.
All of the following are actions that the North Carolina Real Estate Commission (NCREC) can
take against a broker/provisional broker license EXCEPT
A) confiscate.
B) reprimand.
C) revoke.
D) suspend. - ✅✅-A) confiscate.
All of the following are main uses of a multiple listing service EXCEPT
A) all member brokers can search for properties to show to prospective buyers by
entering basic requirements of the prospect into the computer.
B) all member brokers can have access to all firms' listing agreements.
C) all member brokers can access all MLS data directly by computer and print a hard
copy of the data sheet.
,D) all member brokers can search and select possible comparable sales for use by
brokers in preparing a comparative market analysis. - ✅✅-B) all member brokers can have
access to all firms' listing agreements.
All of the following are ways that a listing agreement can be terminated without further liability
EXCEPT
A) Dissolution of the brokerage firm
B) Destruction of the listed property
C) Death of the listing broker
D) Death or insanity of the owner - ✅✅-C) Death of the listing broker
All of the following must be considered in ensuring compliance with the CAN-SPAM Act
EXCEPT
A) the message must not be identified as advertisement.
B) the header information cannot be false or misleading.
C) the subject line cannot be deceptive.
D) the message must include a valid, physical postal address. - ✅✅-A) the message
must not be identified as advertisement.
All of the following statements are true regarding a real estate broker (or firm) proposing to
work with a prospective buyer as a buyer's agent EXCEPT
A) The broker (or firm) needs to have an oral agreement first before putting the
agreement in writing.
B) The broker (or firm) needs to have an express agreement regarding all of the terms of
the working relationship prior to providing services.
C) The broker (or firm) is allowed to provide an oral buyer agency agreement for a
limited period of time under certain circumstances.
D) The broker (or firm) needs to have the agreement in writing prior to making an offer. -
✅✅-A) The broker (or firm) needs to have an oral agreement first before putting the
agreement in writing.
All of the following statements are TRUE regarding the benefits of MLS operations EXCEPT
A) brokers working with buyers will still need to negotiate individual cooperative
commission agreements with each listing broker and seller.
B) sellers benefit because MLS-listed properties generally sell much faster than
properties not listed in the MLS.
C) brokers working with buyers have access to all the listings in MLS rather than just
those listed with their firm.
D) some MLS systems have agreements with national websites making properties
accessible to any person with internet access. - ✅✅-A) brokers working with buyers will
still need to negotiate individual cooperative
commission agreements with each listing broker and seller.
All of the following statements regarding payment of an agent in a real estate transaction is
true EXCEPT
A) Payment of a firm by a buyer or seller does not create an agency relationship; the
agency agreement between the buyer or seller creates the agency relationship.
B) When a seller agrees to pay a buyer agent's firm, the payment does not automatically
create an agency relationship between the seller and the buyer agent's firm.
C) In a buyer agency agreement, the buyer can obligate the buyer agent firm to first seek
the firm's compensation from the seller first, and then if the seller does not pay, the buyer
must pay the buyer agent firm.
D) When a seller agrees to pay a buyer agent's firm, the payment
automatically creates an agency relationship between the seller and the buyer agent's firm. -
✅✅-D) When a seller agrees to pay a buyer agent's firm, the payment automatically
creates an agency relationship between the seller and
the buyer agent's firm.
,All of the following topics are okay to discuss at a local REALTOR® association meeting
EXCEPT
A) planning a tech fair for all members.
B) raising money and gifts for the holiday season.
C) offering computer training for all members.
D) setting fees that all affiliated members must charge consumers. - ✅✅-D) setting
fees that all affiliated members must charge consumers.
All seller agents are required to disclose their agency status in writing to a prospective buyer
at the time the purchase agreement is signed by the buyer.
- ✅✅-False
All the following are considered categories of "material fact" EXCEPT
A) facts directly affecting the property.
B) facts about the property itself.
C) the seller's reasons for selling.
D) facts of special importance to a party. - ✅✅-C) the seller's reasons for selling.
Allyson is in process of purchasing an investment property and is not sure if she is ready to
work with one firm exclusively. Which of the following would NOT be an agency option for
Allyson?
A) Allyson could represent herself and the agent could work as a seller subagent.
B) Allyson could agree to an exclusive oral buyer agency agreement.
C) Allyson could agree to a nonexclusive oral buyer agency agreement.
D) Allyson could agree to a written nonexclusive buyer agency agreement. -
✅✅-B) Allyson could agree to an exclusive oral buyer agency agreement.
Although the form does not contain any such provision, agents are cautioned against
inserting any prior notice or automatic renewal provision in the form. -
✅✅-True
Alyssa is a buyer's agent for LaTosha and makes an appointment to preview a property listed
For Sale by Owner (FSBO). Which of the following statements is TRUE?
A) Alyssa will represent LaTosha and the FSBO seller will be represented by the listing
firm.
B) Alyssa will fully disclose to the FSBO seller her status as a buyer's agent.
C) Alyssa will be a designated agent for LaTosha and for the FSBO seller.
D) Alyssa will automatically represent both LaTosha and the FSBO seller. -
✅✅-B) Alyssa will fully disclose to the FSBO seller her status as a buyer's agent.
An advertisement that references a "low down payment" would trigger additional disclosures
under TILA's Regulation Z. - ✅✅-False; specific credit terms
An agent's duties to third parties include all the following EXCEPT
A) fairness.
B) obedience.
C) disclosure of material fact.
D) honesty. - ✅✅-B) obedience.
Antonio, a broker affiliated with Best Homes Realty, is assisting a buyer-client with the
purchase of a home. What is Antonio's duty to discover if a listed property will involve a short
sale?
A) Antonio needs to ask the listing agent if the property is a short sale.
B) Antonio needs to reach out to the lender directly to determine if the property is a short
sale.
C) Antonio has no duty to discover if the property is a short sale because the information
will not affect the buyer.
, D) Antonio has no duty to the buyer to confirm if a property is a short sale. -
✅✅-A) Antonio needs to ask the listing agent if the property is a short sale.
April is affiliated with Green Acres Realty and representing a buyer, Eyla. They are looking at
several properties including one where the seller is representing themselves. In this situation,
which of the following scenarios is possible?
A) April could represent both the buyer and the seller with both parties' consent.
B) April could represent both the buyer and the seller with only the seller's consent.
C) April could represent both the buyer and seller without consent of either party.
D) April could represent both the buyer and the seller with only the buyer's consent. -
✅✅-A) April could represent both the buyer and the seller with both parties' consent.
Ariel has just received her North Carolina real estate license in the mail after passing the
state licensing exam. What is the status of Ariel's license at this time?
A) Active broker
B) Inactive provisional broker
C) Active provisional broker
D) Pending broker - ✅✅-B) Inactive provisional broker
Armin, a broker affiliated with Best Homes Realty, listed a property for sale and conducted an
open house. Courtney visited the open house and decided to make an offer. The seller had
completed the Residential Property and Owners' Association Disclosure Statement
(RPOADS) indicating all defects the seller knows that exist about the property. In this
situation, which of the following statements is TRUE?
A) Courtney needs to be advised to still conduct a full home inspection.
B) Since the seller disclosed all known material facts, they have complied with the
Doctrine of Caveat Emptor and Courtney does not need to complete a full home inspection.
C) Since the seller disclosed all known material facts that they were aware of, Courtney
does not need to complete a full home inspection.
D) Armin can assure Courtney that the seller has disclosed all material facts and she
does not need to get her own home inspection. - ✅✅-A) Courtney needs to be advised to
still conduct a full home inspection.
As they are walking through the property, Corean is pointing out several things regarding the
property and asking Ryder questions about his property. What is one of the items that
Corean is inquiring about during this phase of the prelisting meeting?
A) What Ryder's needs and desires are regarding time of sale and what he would be
willing to accept as a sales price
B) Which personal property will sell with the property and which fixtures Ryder will be
removing
C) How Ryder would like his property marketed
D) How much Ryder will net at closing - ✅✅-B) Which personal property will sell with
the property and which fixtures Ryder will be removing
Asher currently has an oral buyer agency agreement with Gavin. If Asher wants to bind Gavin
for a period of time or wants to restrict Gavin from working with other real estate firms, what
will Asher need to do?
A) Asher and Gavin can have an exclusive oral agreement up to the time Gavin wants to
make an offer.
B) Asher and Gavin will need to enter into a formal oral buyer agency agreement.
C) Asher and Gavin can have an exclusive agency relationship when their express
agreement is oral.
D) Asher and Gavin will need to enter into a written exclusive buyer agency agreement. -
✅✅-D) Asher and Gavin will need to enter into a written exclusive buyer agency
agreement.
At the prelisting meeting, the broker needs to discuss the brokerage fee. What does the
broker need to determine prior to attending the prelisting meeting regarding the firm's fee?
