303gNCgPOSTgLICENSINGgEXAMgNEWESTg2024gACTUALgEXAM
300gQUESTIONSgANDgCORRECTgDETAILEDgANSWERSg(VERIFIE
DgANSWERS)g|ALREADYgGRADEDgA
DerringhiresgAustingwithgBestgHomesgRealtygtoglistghisghomegforgsale.gAsgAustingisgcompletinggtheglisti
nggagreement,gDerringmentionsgthatgtheghotgwatergheaterghasgnotgworkedgforgagcouplegofgweeksgandg
isgnotgplanninggongrepairinggitgsinceghegisgsellinggtheghome.gDerringtellsgAustingthatghegcannotgsharegt
hatginformationgwithganyonegasgitgmightgaffectgthegsalegofgtheghome.gWhatgisgthegBESTgcoursegofgacti
ongforgAustingatgthisgtime?
A) IfgAustingsharesgtheginformationgregardinggtheghotgwatergheater,ghegwillgbegingviolationgofghisgfiduci
arygduties,gandgDerringcangsueghimgforgdisclosinggconfidentialginformation.
B) AustingcangsharegtheginformationgwithgpeoplegatgBestgHomesgRealtygbutgcannotgsharegitgwithganygfi
rmgrepresentinggagbuyer.
C) Austingmustgdisclosegthatgtheghotgwatergheatergisgnotgworkinggbecausegitgisgagmaterialgfact.
D) Austingmustgobeygthegseller.gAustingandgBestgHomesgRealtygowegfiduciarygdutiesgtogtheirgclieng-
ganswer-
C)gAustingmustgdisclosegthatgtheghotgwatergheatergisgnotgworkinggbecausegitgisgagmaterialgfact.
Armin,gagbrokergaffiliatedgwithgBestgHomesgRealty,glistedgagpropertygforgsalegandgconductedgangopengh
ouse.gCourtneygvisitedgthegopenghousegandgdecidedgtogmakegangoffer.gThegsellerghadgcompletedgthegR
esidentialgPropertygandgOwners'gAssociationgDisclosuregStatementg(RPOADS)gindicatinggallgdefectsgtheg
sellergknowsgthatgexistgaboutgthegproperty.gIngthisgsituation,gwhichgofgthegfollowinggstatementsgisgTRUE
?
A) Courtneygneedsgtogbegadvisedgtogstillgconductgagfullghomeginspection.
B) Sincegthegsellergdisclosedgallgknowngmaterialgfacts,gtheyghavegcompliedgwithgthegDoctrinegofgCav
eatgEmptorgandgCourtneygdoesgnotgneedgtogcompletegagfullghomeginspection.
C) Sincegthegsellergdisclosedgallgknowngmaterialgfactsgthatgtheygweregawaregof,gCourtneygdoesgnotgneed
gtogcompletegagfullghomeginspection.
D) ArmingcangassuregCourtneygthatgthegsellerghasgdisclosedgallgmaterialgfactsgandgshegdoesgnotgneed
gtoggetghergownghomeginspection.g-ganswer-
A)gCourtneygneedsgtogbegadvisedgtogstillgconductgagfullghomeginspection.
Agbuyergandgagsellergaregnegotiatinggthegtermsgofgagpossiblegcontract.gThegsellergcounteroffersgtogtheg
buyer,gandgthegbuyergwantsgtogthinkgaboutgitgovernight.gThegnextgdaygthegbuyergcallsgthegsellinggagen
tgandgsaysgtheygwouldglikegtogacceptgthegseller'sgcounteroffer.gBeforegverifyinggthatgthegbuyerghadgact
uallygsignedgthegcounteroffer,gthegsellinggagentgcallsgtheglistinggagentgtogsaygthegbuyerghadgacceptedgt
hegseller'sgcounteroffer.gThegsellergthenggoesgongtogpurchaseganotherghousegbasedgongthegbuyer'sg"ac
ceptance"gofgtheirgcounteroffer.gWhengthegsellinggagentggoesgtogpickgupgthegsignedgpaperworkgfrom
,thegbuyer,gthegbuyergstatesgtheygnevergsignedgthegcounteroffergandgdognotgwantgtogbuygthegseller'sgh
ome.gWhichgofgthegfollowinggstatementsgisgcorrect?
A) Thegsellinggagentgisgnotgresponsiblegforgthegmisrepresentation.
B) Bothgthegbuyergandgthegsellinggagentgaregresponsiblegforgthegmisrepresentation.
C) Neithergthegbuyerg-ganswer-D)gThegsellinggagentgisgresponsiblegforgthegmisrepresentation.
Thegrealgestategbroker'sgfiduciarygresponsibilitygtogkeepgthegprincipalginformedgofgallgfacts,gincludinggp
ropertygconditiongandgissuesgthatgaffectgagseller'sgwillingnessgtogsellgandgagbuyer'sgwillingnessgtogbuy,gi
sgthegdutygof
A) reasonablegskill,gcare,gandgdiligence.
B) disclosure.
C) obedience.
D) accounting.g-ganswer-B)gdisclosure.
Thegdutiesgowedgfromgtheg"agent"gtogtheg"principal"garegBESTgdescribedgbygwhichgofgthegfollowing?
A) Obedience,gloyalty,gaccounting,gandgreasonablegcare
B) Fairnessgandghonesty
C) Fairness,ghonest,gobedience,gloyalty,gaccounting,greasonablegskill,gandgcare
D) Obedience,gloyalty,gdisclosure,gconfidentiality,gaccounting,greasonablegskill,gcare,gandgdiligence
g-ganswer-
D)gObedience,gloyalty,gdisclosure,gconfidentiality,gaccounting,greasonablegskill,gcare,gandgdiligenc
e
WhichgofgthegfollowinggBESTgdescribesgsubagent?
A) Literallygthegagentgofgangagent,gagpersongdesignatedgorgemployedgbygangagentgtogperformgallgorgpar
tgofgthegagent'sgassignedgtasksgorgservicesgongbehalfgofgthegagent'sgprincipal
B) Thegpersongwhogauthorizesganothergtogactgongthegprincipal'sgbehalfgwithingspecifiedgparametersgand
gtogwhomgthegagentgowesgcertainglegalgduties
C) Thegpersongactinggforgandgongbehalfgofgthegprincipalgwithingthegboundsgofgthegauthorityggrantedga
ndgwhogowesgfiduciarygdutiesgtogthegprincipal
D) Thegrelationshipgthatgexistsgwhengonegpersongisgauthorizedgtogactgforgandgongbehalfgofganotherg-
ganswer-
A)gLiterallygthegagentgofgangagent,gagpersongdesignatedgorgemployedgbygangagentgtogperformgallgorgpart
gofgthegagent'sgassignedgtasksgorgservicesgongbehalfgofgthegagent'sgprincipal
,WhichgofgthegfollowinggstatementsgisgTRUEgregardinggagencygagreements?
A) Listinggagreements,gpropertygmanagementgagreements,gbuyergagencygagreements,gandgtena
ntgrepresentationgagreementsgcangallgbegexpressgoralgagreementsgforgagperiodgofgtime.
B) Listinggagreementsgandgpropertygmanagementgagreementsgmustgbegexpressgwrittengagreementsgfro
mgthegbeginninggofgthegrelationshipgandgbuyergagencygagreementsgandgtenantgrepresentationgagreem
entsgcangbegingexpressgoralgagreementsgforgagperiodgofgtime.
C) Listinggagreementsgandgbuyergagencygagreementsgmustgbegexpressgwrittengagreementsgfromgt
hegbeginninggofgthegrelationshipgandgpropertygmanagementgagreementsgandgtenantgrepresentati
ongagreementsgcangbegexpressgoralgagreementsgforgagperiodgofgtime.
D) Listinggagreementsgandgpropertygmanagementgagreementsgcangexpressgoralgagreementsgforgagperi
odgofgtimegandgbuyergagencygagreementsgandgtenantgrepresentationgagreementsgmustgbegingexg-
ganswer-
B)gListinggagreementsgandgpropertygmanagementgagreementsgmustgbegexpressgwrittengagreementsgfr
omgthegbeginninggofgthegrelationshipgandgbuyergagencygagreementsgandgtenantgrepresentationgagree
mentsgcangbegingexpressgoralgagreementsgforgagperiodgofgtime.
WhichgofgthegfollowinggstatementsgBESTgdescribesgNorthgCarolinagUnfairgDeceptivegPracticesgAct?
A) Thisglawgprohibitsgdisclosuregregardinggfactsgaboutgthegpropertygitselfgorgthegsurroundinggarea.
B) Thisglawgprohibitsgunfairgorgdeceptivegactsgorgpracticesgingcommercegandgappliesgtogthegsalegorgren
talgofgrealgestategandgtogrealgestategbrokers.
C) Thisglawgholdsgthat—exceptgingcasesginvolvinggfraudgbygthegsellergorgthegseller'sgagent—
thegsellerghasgnogaffirmativegobligationgtogdiscloseginformationgaboutgthegpropertygbeinggsoldgtogthegp
urchasergandgplacesgthegburdengongthegbuyergtoginvestigategthegpropertygbeforegcontractinggtogpurcha
segthegproperty.
D) Thisglawgprohibitsgmakingggeneralizedgexpressiongofgagbroker'sgopiniongaboutgagproperty.g-ganswer-
B)gThisglawgprohibitsgunfairgorgdeceptivegactsgorgpracticesgingcommercegandgappliesgtogthegsalegorgre
ntalgofgrealgestategandgtogrealgestategbrokers.
Georgegknowsgthatgthegpropertygisgaboutgtogbegrezonedgforgcommercialguse,gwhichgwillggreatlygincre
asegthegvaluegofgthegproperty.gGeorgegdoesgnotgsharegthisginformationgwithgthegsellergandgoffersgtog
buygthegpropertygforghimselfgasganginvestment.gGeorgegclosesgongthegpropertygwithgthegsellergandgth
engaftergthegrezoningghasgbeengfinalized,gGeorgegsellsgthegpropertygatgagsubstantialgprofit.gThisgisgang
examplegof
A) self-dealing.
B) makinggfalsegpromises.
C) undisclosedgdualgagency.
D) impropergdealing.g-ganswer-A)gself-dealing.
, Lanzogisgingthegprocessgofglistinggaghousegforgsalegandgtellsgthegsellergthatghegwillgstagegtheghouse,gste
amgcleangthegcarpets,gandghiregagprofessionalgcleaninggcrewgtogcleangpriorgtogshowinggtheghouse.gOnc
egthegsellergsignedgtheglistinggagreement,gLanzogfailedgtogprovidegthesegservices.gLanzogmaygbegguiltyg
ofgwhichgofgthegfollowing?
A) Makinggfalsegpromises
B) Undisclosedgdualgagency
C) Self-dealing
D) Impropergbrokeragegcommissiong-ganswer-A)gMakinggfalsegpromises
Whogisgrequiredgtogdisclosegmaterialgfacts?
A) Sellersgandglistinggagents
B) Sellersgandgbuyers
C) Listinggagentsgandgsellinggagents
D) Sellers,gbuyers,glistinggagents,gandgsellinggagentsg-ganswer-C)gListinggagentsgandgsellinggagents
Francisglistedgagpropertygforgsalegandgdidgnotginvestigategthegpropertygforgmaterialgfactsgbecauseghegreli
edgongthegseller'sgstatementgthatgtheregwasgnothinggwronggwithgthegproperty.gItgwasglatergdiscoveredgt
hatgtheregwasgagsubstantialgleakgingthegroofgthatgwasgeasilygdetectable.gIngthisgsituation,gFrancisgcouldg
begheldgliablegforgwhichgofgthegfollowing?
A) ThegsellergwillgbegheldgresponsiblegandgFrancisghasgnogliability
B) Negligentgmisrepresentationgorgomission.
C) Willfulgmisrepresentationgorgomission.
D) Francisgisgnotgrequiredgtogdiscovergmaterialgfactsgsincegheghasgthegseller'sgwordgthatgtheregisgnoth
inggwrong.g-ganswer-B)gNegligentgmisrepresentationgorgomission.
Whichgofgthegfollowinggstatementsgregardinggagent'sgdutiesgundergrealgestateglicenseglawgisgTRUE?
A) Agbroker'sgdutiesgunderglicenseglawgwhengdealinggwithgpartiesgtogagtransactiongapplygregardlessgofgt
hegbroker'sgagencygrelationshipgtogsuchgparties.
B) Agbroker'sgdutiesgunderglicenseglawgwhengdealinggwithgpartiesgtogagtransactiongapplygonlygtogthegfir
m'sgclients.
300gQUESTIONSgANDgCORRECTgDETAILEDgANSWERSg(VERIFIE
DgANSWERS)g|ALREADYgGRADEDgA
DerringhiresgAustingwithgBestgHomesgRealtygtoglistghisghomegforgsale.gAsgAustingisgcompletinggtheglisti
nggagreement,gDerringmentionsgthatgtheghotgwatergheaterghasgnotgworkedgforgagcouplegofgweeksgandg
isgnotgplanninggongrepairinggitgsinceghegisgsellinggtheghome.gDerringtellsgAustingthatghegcannotgsharegt
hatginformationgwithganyonegasgitgmightgaffectgthegsalegofgtheghome.gWhatgisgthegBESTgcoursegofgacti
ongforgAustingatgthisgtime?
A) IfgAustingsharesgtheginformationgregardinggtheghotgwatergheater,ghegwillgbegingviolationgofghisgfiduci
arygduties,gandgDerringcangsueghimgforgdisclosinggconfidentialginformation.
B) AustingcangsharegtheginformationgwithgpeoplegatgBestgHomesgRealtygbutgcannotgsharegitgwithganygfi
rmgrepresentinggagbuyer.
C) Austingmustgdisclosegthatgtheghotgwatergheatergisgnotgworkinggbecausegitgisgagmaterialgfact.
D) Austingmustgobeygthegseller.gAustingandgBestgHomesgRealtygowegfiduciarygdutiesgtogtheirgclieng-
ganswer-
C)gAustingmustgdisclosegthatgtheghotgwatergheatergisgnotgworkinggbecausegitgisgagmaterialgfact.
Armin,gagbrokergaffiliatedgwithgBestgHomesgRealty,glistedgagpropertygforgsalegandgconductedgangopengh
ouse.gCourtneygvisitedgthegopenghousegandgdecidedgtogmakegangoffer.gThegsellerghadgcompletedgthegR
esidentialgPropertygandgOwners'gAssociationgDisclosuregStatementg(RPOADS)gindicatinggallgdefectsgtheg
sellergknowsgthatgexistgaboutgthegproperty.gIngthisgsituation,gwhichgofgthegfollowinggstatementsgisgTRUE
?
A) Courtneygneedsgtogbegadvisedgtogstillgconductgagfullghomeginspection.
B) Sincegthegsellergdisclosedgallgknowngmaterialgfacts,gtheyghavegcompliedgwithgthegDoctrinegofgCav
eatgEmptorgandgCourtneygdoesgnotgneedgtogcompletegagfullghomeginspection.
C) Sincegthegsellergdisclosedgallgknowngmaterialgfactsgthatgtheygweregawaregof,gCourtneygdoesgnotgneed
gtogcompletegagfullghomeginspection.
D) ArmingcangassuregCourtneygthatgthegsellerghasgdisclosedgallgmaterialgfactsgandgshegdoesgnotgneed
gtoggetghergownghomeginspection.g-ganswer-
A)gCourtneygneedsgtogbegadvisedgtogstillgconductgagfullghomeginspection.
Agbuyergandgagsellergaregnegotiatinggthegtermsgofgagpossiblegcontract.gThegsellergcounteroffersgtogtheg
buyer,gandgthegbuyergwantsgtogthinkgaboutgitgovernight.gThegnextgdaygthegbuyergcallsgthegsellinggagen
tgandgsaysgtheygwouldglikegtogacceptgthegseller'sgcounteroffer.gBeforegverifyinggthatgthegbuyerghadgact
uallygsignedgthegcounteroffer,gthegsellinggagentgcallsgtheglistinggagentgtogsaygthegbuyerghadgacceptedgt
hegseller'sgcounteroffer.gThegsellergthenggoesgongtogpurchaseganotherghousegbasedgongthegbuyer'sg"ac
ceptance"gofgtheirgcounteroffer.gWhengthegsellinggagentggoesgtogpickgupgthegsignedgpaperworkgfrom
,thegbuyer,gthegbuyergstatesgtheygnevergsignedgthegcounteroffergandgdognotgwantgtogbuygthegseller'sgh
ome.gWhichgofgthegfollowinggstatementsgisgcorrect?
A) Thegsellinggagentgisgnotgresponsiblegforgthegmisrepresentation.
B) Bothgthegbuyergandgthegsellinggagentgaregresponsiblegforgthegmisrepresentation.
C) Neithergthegbuyerg-ganswer-D)gThegsellinggagentgisgresponsiblegforgthegmisrepresentation.
Thegrealgestategbroker'sgfiduciarygresponsibilitygtogkeepgthegprincipalginformedgofgallgfacts,gincludinggp
ropertygconditiongandgissuesgthatgaffectgagseller'sgwillingnessgtogsellgandgagbuyer'sgwillingnessgtogbuy,gi
sgthegdutygof
A) reasonablegskill,gcare,gandgdiligence.
B) disclosure.
C) obedience.
D) accounting.g-ganswer-B)gdisclosure.
Thegdutiesgowedgfromgtheg"agent"gtogtheg"principal"garegBESTgdescribedgbygwhichgofgthegfollowing?
A) Obedience,gloyalty,gaccounting,gandgreasonablegcare
B) Fairnessgandghonesty
C) Fairness,ghonest,gobedience,gloyalty,gaccounting,greasonablegskill,gandgcare
D) Obedience,gloyalty,gdisclosure,gconfidentiality,gaccounting,greasonablegskill,gcare,gandgdiligence
g-ganswer-
D)gObedience,gloyalty,gdisclosure,gconfidentiality,gaccounting,greasonablegskill,gcare,gandgdiligenc
e
WhichgofgthegfollowinggBESTgdescribesgsubagent?
A) Literallygthegagentgofgangagent,gagpersongdesignatedgorgemployedgbygangagentgtogperformgallgorgpar
tgofgthegagent'sgassignedgtasksgorgservicesgongbehalfgofgthegagent'sgprincipal
B) Thegpersongwhogauthorizesganothergtogactgongthegprincipal'sgbehalfgwithingspecifiedgparametersgand
gtogwhomgthegagentgowesgcertainglegalgduties
C) Thegpersongactinggforgandgongbehalfgofgthegprincipalgwithingthegboundsgofgthegauthorityggrantedga
ndgwhogowesgfiduciarygdutiesgtogthegprincipal
D) Thegrelationshipgthatgexistsgwhengonegpersongisgauthorizedgtogactgforgandgongbehalfgofganotherg-
ganswer-
A)gLiterallygthegagentgofgangagent,gagpersongdesignatedgorgemployedgbygangagentgtogperformgallgorgpart
gofgthegagent'sgassignedgtasksgorgservicesgongbehalfgofgthegagent'sgprincipal
,WhichgofgthegfollowinggstatementsgisgTRUEgregardinggagencygagreements?
A) Listinggagreements,gpropertygmanagementgagreements,gbuyergagencygagreements,gandgtena
ntgrepresentationgagreementsgcangallgbegexpressgoralgagreementsgforgagperiodgofgtime.
B) Listinggagreementsgandgpropertygmanagementgagreementsgmustgbegexpressgwrittengagreementsgfro
mgthegbeginninggofgthegrelationshipgandgbuyergagencygagreementsgandgtenantgrepresentationgagreem
entsgcangbegingexpressgoralgagreementsgforgagperiodgofgtime.
C) Listinggagreementsgandgbuyergagencygagreementsgmustgbegexpressgwrittengagreementsgfromgt
hegbeginninggofgthegrelationshipgandgpropertygmanagementgagreementsgandgtenantgrepresentati
ongagreementsgcangbegexpressgoralgagreementsgforgagperiodgofgtime.
D) Listinggagreementsgandgpropertygmanagementgagreementsgcangexpressgoralgagreementsgforgagperi
odgofgtimegandgbuyergagencygagreementsgandgtenantgrepresentationgagreementsgmustgbegingexg-
ganswer-
B)gListinggagreementsgandgpropertygmanagementgagreementsgmustgbegexpressgwrittengagreementsgfr
omgthegbeginninggofgthegrelationshipgandgbuyergagencygagreementsgandgtenantgrepresentationgagree
mentsgcangbegingexpressgoralgagreementsgforgagperiodgofgtime.
WhichgofgthegfollowinggstatementsgBESTgdescribesgNorthgCarolinagUnfairgDeceptivegPracticesgAct?
A) Thisglawgprohibitsgdisclosuregregardinggfactsgaboutgthegpropertygitselfgorgthegsurroundinggarea.
B) Thisglawgprohibitsgunfairgorgdeceptivegactsgorgpracticesgingcommercegandgappliesgtogthegsalegorgren
talgofgrealgestategandgtogrealgestategbrokers.
C) Thisglawgholdsgthat—exceptgingcasesginvolvinggfraudgbygthegsellergorgthegseller'sgagent—
thegsellerghasgnogaffirmativegobligationgtogdiscloseginformationgaboutgthegpropertygbeinggsoldgtogthegp
urchasergandgplacesgthegburdengongthegbuyergtoginvestigategthegpropertygbeforegcontractinggtogpurcha
segthegproperty.
D) Thisglawgprohibitsgmakingggeneralizedgexpressiongofgagbroker'sgopiniongaboutgagproperty.g-ganswer-
B)gThisglawgprohibitsgunfairgorgdeceptivegactsgorgpracticesgingcommercegandgappliesgtogthegsalegorgre
ntalgofgrealgestategandgtogrealgestategbrokers.
Georgegknowsgthatgthegpropertygisgaboutgtogbegrezonedgforgcommercialguse,gwhichgwillggreatlygincre
asegthegvaluegofgthegproperty.gGeorgegdoesgnotgsharegthisginformationgwithgthegsellergandgoffersgtog
buygthegpropertygforghimselfgasganginvestment.gGeorgegclosesgongthegpropertygwithgthegsellergandgth
engaftergthegrezoningghasgbeengfinalized,gGeorgegsellsgthegpropertygatgagsubstantialgprofit.gThisgisgang
examplegof
A) self-dealing.
B) makinggfalsegpromises.
C) undisclosedgdualgagency.
D) impropergdealing.g-ganswer-A)gself-dealing.
, Lanzogisgingthegprocessgofglistinggaghousegforgsalegandgtellsgthegsellergthatghegwillgstagegtheghouse,gste
amgcleangthegcarpets,gandghiregagprofessionalgcleaninggcrewgtogcleangpriorgtogshowinggtheghouse.gOnc
egthegsellergsignedgtheglistinggagreement,gLanzogfailedgtogprovidegthesegservices.gLanzogmaygbegguiltyg
ofgwhichgofgthegfollowing?
A) Makinggfalsegpromises
B) Undisclosedgdualgagency
C) Self-dealing
D) Impropergbrokeragegcommissiong-ganswer-A)gMakinggfalsegpromises
Whogisgrequiredgtogdisclosegmaterialgfacts?
A) Sellersgandglistinggagents
B) Sellersgandgbuyers
C) Listinggagentsgandgsellinggagents
D) Sellers,gbuyers,glistinggagents,gandgsellinggagentsg-ganswer-C)gListinggagentsgandgsellinggagents
Francisglistedgagpropertygforgsalegandgdidgnotginvestigategthegpropertygforgmaterialgfactsgbecauseghegreli
edgongthegseller'sgstatementgthatgtheregwasgnothinggwronggwithgthegproperty.gItgwasglatergdiscoveredgt
hatgtheregwasgagsubstantialgleakgingthegroofgthatgwasgeasilygdetectable.gIngthisgsituation,gFrancisgcouldg
begheldgliablegforgwhichgofgthegfollowing?
A) ThegsellergwillgbegheldgresponsiblegandgFrancisghasgnogliability
B) Negligentgmisrepresentationgorgomission.
C) Willfulgmisrepresentationgorgomission.
D) Francisgisgnotgrequiredgtogdiscovergmaterialgfactsgsincegheghasgthegseller'sgwordgthatgtheregisgnoth
inggwrong.g-ganswer-B)gNegligentgmisrepresentationgorgomission.
Whichgofgthegfollowinggstatementsgregardinggagent'sgdutiesgundergrealgestateglicenseglawgisgTRUE?
A) Agbroker'sgdutiesgunderglicenseglawgwhengdealinggwithgpartiesgtogagtransactiongapplygregardlessgofgt
hegbroker'sgagencygrelationshipgtogsuchgparties.
B) Agbroker'sgdutiesgunderglicenseglawgwhengdealinggwithgpartiesgtogagtransactiongapplygonlygtogthegfir
m'sgclients.
