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301 NC POST LICENSING EXAM NEWST EXAM |
COMPLETE QUESTIONS AND CORRECT ANSWERS |
GRADED A+ | VERIFIED ANSWERS | LATEST VERSION
Can an inactive agent be paid a referral commission if they were active at the
time they made the referral? - (ANSWER)Yes. If and only if they were active at
time of referral
Must Dual Agency be in writing? - (ANSWER)Before an offer is made, Yes. Dual
agency must be in writing and signed by both parties
At a listing appointment, the agent should be gathering all information for listing
and what? - (ANSWER)Advertising
May a BIC and their Provisional Broker enter into dual agency together? -
(ANSWER)No. Because the BIC oversees the PBs transactions, this would be a
conflict of interest
When must all agency be "Written" - (ANSWER)Prior to first offer
Are all in-house transactions Dual Agency? - (ANSWER)No. The exceptions would
be Seller Sub Agency or Unrepresented Buyers
Can The Real Estate Commission fine brokers? - (ANSWER)No. They can only
reprimand, suspend, and revoke licenses
, 2
Who can sue agents civilly for monetary compensation? - (ANSWER)Principles of
a transaction
If Dual Agency is not disclosed is a commission due? - (ANSWER)No. Therefore it
is imperative to disclose dual agency before any offers are written
As a dual agent, the agent's duties are reduced to what? - (ANSWER)Contractual
Obligations
What must all agency agreements have? - (ANSWER)A beginning and ending date
Oral to Oral & Written to Written describe what? - (ANSWER)The permissions
needed to show a property as a "Dual Agent"
What should every agent bring to a listing appointment? - (ANSWER)Deed, Plot
Map, Tax Info, RPD, MOG, Listing Agreement (Several Other items)
Who gets paid in an Exclusive Right to Sell listing agreement? - (ANSWER)The
listing agent, regardless of who brings a buyer, and likely the buyer agent
Who gets paid in an exclusive listing agreement? - (ANSWER)Whomever brings a
buyer
301 NC POST LICENSING EXAM NEWST EXAM |
COMPLETE QUESTIONS AND CORRECT ANSWERS |
GRADED A+ | VERIFIED ANSWERS | LATEST VERSION
Can an inactive agent be paid a referral commission if they were active at the
time they made the referral? - (ANSWER)Yes. If and only if they were active at
time of referral
Must Dual Agency be in writing? - (ANSWER)Before an offer is made, Yes. Dual
agency must be in writing and signed by both parties
At a listing appointment, the agent should be gathering all information for listing
and what? - (ANSWER)Advertising
May a BIC and their Provisional Broker enter into dual agency together? -
(ANSWER)No. Because the BIC oversees the PBs transactions, this would be a
conflict of interest
When must all agency be "Written" - (ANSWER)Prior to first offer
Are all in-house transactions Dual Agency? - (ANSWER)No. The exceptions would
be Seller Sub Agency or Unrepresented Buyers
Can The Real Estate Commission fine brokers? - (ANSWER)No. They can only
reprimand, suspend, and revoke licenses
, 2
Who can sue agents civilly for monetary compensation? - (ANSWER)Principles of
a transaction
If Dual Agency is not disclosed is a commission due? - (ANSWER)No. Therefore it
is imperative to disclose dual agency before any offers are written
As a dual agent, the agent's duties are reduced to what? - (ANSWER)Contractual
Obligations
What must all agency agreements have? - (ANSWER)A beginning and ending date
Oral to Oral & Written to Written describe what? - (ANSWER)The permissions
needed to show a property as a "Dual Agent"
What should every agent bring to a listing appointment? - (ANSWER)Deed, Plot
Map, Tax Info, RPD, MOG, Listing Agreement (Several Other items)
Who gets paid in an Exclusive Right to Sell listing agreement? - (ANSWER)The
listing agent, regardless of who brings a buyer, and likely the buyer agent
Who gets paid in an exclusive listing agreement? - (ANSWER)Whomever brings a
buyer
