301- NC Post Licensing
QUESTIONS & DETAILED
ANSWERS
Yes. If and only if they were active at time of referral - correct answer ✔✔Can an inactive agent
be paid a referral commission if they were active at the time they made the referral?
Before an offer is made, Yes. Dual agency must be in writing and signed by both parties - correct
answer ✔✔Must Dual Agency be in writing?
Advertising - correct answer ✔✔At a listing appointment, the agent should be gathering all
information for listing and what?
No. Because the BIC oversees the PBs transactions, this would be a conflict of interest - correct
answer ✔✔May a BIC and their Provisional Broker enter into dual agency together?
Prior to first offer - correct answer ✔✔When must all agency be "Written"
No. The exceptions would be Seller Sub Agency or Unrepresented Buyers - correct answer
✔✔Are all in-house transactions Dual Agency?
No. They can only reprimand, suspend, and revoke licenses - correct answer ✔✔Can The Real
Estate Commission fine brokers?
Principles of a transaction - correct answer ✔✔Who can sue agents civilly for monetary
compensation?
, No. Therefore it is imperative to disclose dual agency before any offers are written - correct
answer ✔✔If Dual Agency is not disclosed is a commission due?
Contractual Obligations - correct answer ✔✔As a dual agent, the agent's duties are reduced to
what?
A beginning and ending date - correct answer ✔✔What must all agency agreements have?
The permissions needed to show a property as a "Dual Agent" - correct answer ✔✔Oral to Oral
& Written to Written describe what?
Deed, Plot Map, Tax Info, RPD, MOG, Listing Agreement (Several Other items) - correct answer
✔✔What should every agent bring to a listing appointment?
The listing agent, regardless of who brings a buyer, and likely the buyer agent - correct answer
✔✔Who gets paid in an Exclusive Right to Sell listing agreement?
Whomever brings a buyer - correct answer ✔✔Who gets paid in an exclusive listing agreement?
Any actively licensed agent - correct answer ✔✔Who can sell a property in an Open listing?
Listing Agent - correct answer ✔✔In a net listing money above the asking price is paid to
whom?
The Firm (Individual agents are sub agents to seller) - correct answer ✔✔Who is the actual
agent to the principle in a transaction?
QUESTIONS & DETAILED
ANSWERS
Yes. If and only if they were active at time of referral - correct answer ✔✔Can an inactive agent
be paid a referral commission if they were active at the time they made the referral?
Before an offer is made, Yes. Dual agency must be in writing and signed by both parties - correct
answer ✔✔Must Dual Agency be in writing?
Advertising - correct answer ✔✔At a listing appointment, the agent should be gathering all
information for listing and what?
No. Because the BIC oversees the PBs transactions, this would be a conflict of interest - correct
answer ✔✔May a BIC and their Provisional Broker enter into dual agency together?
Prior to first offer - correct answer ✔✔When must all agency be "Written"
No. The exceptions would be Seller Sub Agency or Unrepresented Buyers - correct answer
✔✔Are all in-house transactions Dual Agency?
No. They can only reprimand, suspend, and revoke licenses - correct answer ✔✔Can The Real
Estate Commission fine brokers?
Principles of a transaction - correct answer ✔✔Who can sue agents civilly for monetary
compensation?
, No. Therefore it is imperative to disclose dual agency before any offers are written - correct
answer ✔✔If Dual Agency is not disclosed is a commission due?
Contractual Obligations - correct answer ✔✔As a dual agent, the agent's duties are reduced to
what?
A beginning and ending date - correct answer ✔✔What must all agency agreements have?
The permissions needed to show a property as a "Dual Agent" - correct answer ✔✔Oral to Oral
& Written to Written describe what?
Deed, Plot Map, Tax Info, RPD, MOG, Listing Agreement (Several Other items) - correct answer
✔✔What should every agent bring to a listing appointment?
The listing agent, regardless of who brings a buyer, and likely the buyer agent - correct answer
✔✔Who gets paid in an Exclusive Right to Sell listing agreement?
Whomever brings a buyer - correct answer ✔✔Who gets paid in an exclusive listing agreement?
Any actively licensed agent - correct answer ✔✔Who can sell a property in an Open listing?
Listing Agent - correct answer ✔✔In a net listing money above the asking price is paid to
whom?
The Firm (Individual agents are sub agents to seller) - correct answer ✔✔Who is the actual
agent to the principle in a transaction?
