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301 NC POST LICENSING EXAM NEWEST 2025 VERSION 1 AND 2 ACTUAL EXAM COMPLETE 300
What does an agent owe his "client" (principal)? - (answer) LOADS
What does the L in LOADS stand for? - (answer) Loyalty
What does the O in LOADS stand for? - (answer) Obedience
What does the A in LOADS stand for? - (answer) Accountability
What does the S in LOADS stand for? - (answer) Skill, Care, and Diligence
What is a material fact? - (answer) - Highway Improvement Plan
- Principals ability to complete a transaction
- Matters relating directly to the property's value or structure
- Special requests of the buyer
- Close to airport flight paths
If a seller is behind on house payments does the agent have to disclose? - (answer) No disclosure
necessary
If the property is in foreclosure or a short sale then there must be... - (answer) full disclosure
Foreclosure= - (answer) "Notice of Sale" has been filed with the Clerk of Courts
Facts that surround the property and could affect it's value... - (answer) - pending zoning changes
- existence of restrictive covenants
- plans for a new highway
-plans to build nearby shopping center
- close to an airport
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301 NC POST LICENSING EXAM NEWEST 2025 VERSION 1 AND 2 ACTUAL EXAM COMPLETE 300
What is not a material fact? - (answer) - Haunted house
- Death or serious illness of a occupant
- HIV or AIDS occupant (or any protected class)
- Sexual offender
- Appraisal of a former transaction
What else can happen to a "Broker Gone Bad: other than civil liability and the loss of commission? -
(answer) - Loss or suspension of license
- Criminal Prosecution
Agents duties to client under License Law: - (answer) - Duty to disclose all material facts
- Avoid false promises
- Account for all trust funds
- Competence in agency duties
- Avoid improper conduct/dishonesty
- Deliver all offers and contracts
- Disclose all payments from 3rd parties
- Avoid conflicts of interest
Agents can NOT ignore conditions even if the seller does... - (answer) NOT disclose
The Agents duties to a 3rd persons or customer: - (answer) - Disclosure of all material facts
- No false promises
- Proper accounting of all funds
- Disclosure of all fees
- Act in a competent manner
- Be honest & fair/no fraudulent dealing
- Delivery of all offers and contracts
- Owe information but NOT "advice" or "opinions"
Downloaded by: Splashnetz | Want to earn $1.236
Distribution of this document is illegal extra per year?
301 NC POST LICENSING EXAM NEWEST 2025 VERSION 1 AND 2 ACTUAL EXAM COMPLETE 300
What does an agent owe his "client" (principal)? - (answer) LOADS
What does the L in LOADS stand for? - (answer) Loyalty
What does the O in LOADS stand for? - (answer) Obedience
What does the A in LOADS stand for? - (answer) Accountability
What does the S in LOADS stand for? - (answer) Skill, Care, and Diligence
What is a material fact? - (answer) - Highway Improvement Plan
- Principals ability to complete a transaction
- Matters relating directly to the property's value or structure
- Special requests of the buyer
- Close to airport flight paths
If a seller is behind on house payments does the agent have to disclose? - (answer) No disclosure
necessary
If the property is in foreclosure or a short sale then there must be... - (answer) full disclosure
Foreclosure= - (answer) "Notice of Sale" has been filed with the Clerk of Courts
Facts that surround the property and could affect it's value... - (answer) - pending zoning changes
- existence of restrictive covenants
- plans for a new highway
-plans to build nearby shopping center
- close to an airport
Downloaded by: Splashnetz | Want to earn $1.236
Distribution of this document is illegal extra per year?
, Stuvia.com - The Marketplace to Buy and Sell your Study Material
301 NC POST LICENSING EXAM NEWEST 2025 VERSION 1 AND 2 ACTUAL EXAM COMPLETE 300
What is not a material fact? - (answer) - Haunted house
- Death or serious illness of a occupant
- HIV or AIDS occupant (or any protected class)
- Sexual offender
- Appraisal of a former transaction
What else can happen to a "Broker Gone Bad: other than civil liability and the loss of commission? -
(answer) - Loss or suspension of license
- Criminal Prosecution
Agents duties to client under License Law: - (answer) - Duty to disclose all material facts
- Avoid false promises
- Account for all trust funds
- Competence in agency duties
- Avoid improper conduct/dishonesty
- Deliver all offers and contracts
- Disclose all payments from 3rd parties
- Avoid conflicts of interest
Agents can NOT ignore conditions even if the seller does... - (answer) NOT disclose
The Agents duties to a 3rd persons or customer: - (answer) - Disclosure of all material facts
- No false promises
- Proper accounting of all funds
- Disclosure of all fees
- Act in a competent manner
- Be honest & fair/no fraudulent dealing
- Delivery of all offers and contracts
- Owe information but NOT "advice" or "opinions"
Downloaded by: Splashnetz | Want to earn $1.236
Distribution of this document is illegal extra per year?
