75-HOUR BROKER PRE-LICENSING COURSE

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NORTH CAROLINA 75-HOUR BROKER
PRE-LICENSING COURSE Questions and
Correct Answers/ Latest Update / Already
Graded
Deliver a termination notice to the seller

Ans: Under the terms of the North Carolina Offer to Purchase
and Contract, Standard Form 2-T, if the buyer fails to
before the due diligence period expires, this indicates that the
buyer waives any right to terminate the contract based on
anything related to the buyer's due diligence.


The licensee

Ans: In a residential transaction in North Carolina, who's
responsible for verifying and accurately reporting any square
footage in a client's property listing?


Within three days of its execution

Ans: At the latest, North Carolina broker Jennifer must give
her seller client Gideon a copy of the listing agreement they
signed .


Eight

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Ans: Cory is a North Carolina licensee. He's required to
complete hours of continuing education every year.


He must complete and pass the 12-hour broker-in-charge course.

Ans: Marco has been a licensed and active real estate broker in
North Carolina for the past three years. What will make him
eligible for broker-in-charge status?


Indemnity

Ans: When buyer Jay signed the North Carolina Offer to
Purchase and Contract, Standard Form 2-T, he agreed to hold
the seller harmless for any damage that Jay's contractors
caused on the property during their property inspection. Under
which provision is this covered?


Trust money

Ans: The NCREC defines as "all moneys received by a
broker acting in his or her fiduciary capacity."


10 days

Ans: How many days does a broker-in-charge have to notify
NCREC after a licensee changes firms?


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Randy, a landlord, requires a credit check on all potential tenants, no
matter their national origin.

Ans: Which of the following actions does NOT violate fair
housing laws?


Jennifer cannot be appointed as the designated agent for the buyer.

Ans: North Carolina brokerage House Savvy is acting as a dual
agent in a transaction. When Jennifer, one of the firm's brokers,
walked into a room where the seller was on the phone, she
heard the seller say he'd be willing to take $5,000 less than the
listing price. Which of the following is true of this situation?


When the primary contract is terminated or performed

Ans: When the buyer and seller use the Back-Up Contract
Addendum, they can complete and sign the standard Offer to
Purchase and Contract, Standard Form 2-T, and then attach the
addendum to that contract. When does the back-up contract
stop being in the secondary position?


Hold an active broker's license

Ans: Which of the following is a requirement for broker-in-
charge eligibility in North Carolina?

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10 days

Ans: North Carolina licensees must notify NCREC in writing of
any name or address change within .


NCHRC

Ans: Which agency in North Carolina enforces fair housing
law?


Within a timeframe that allows a reasonable person to make a decision
based on the information

Ans: George is a North Carolina broker representing a seller
client in a real estate transaction. For the purposes of disclosing
the terms of his compensation for the transaction, which of the
following best describes the "timely manner" in which he'll need
to provide said disclosure?


Zoning powers are given to municipalities by North Carolina's
Agricultural Development and Farmland Preservation Enabling Act.

Ans: Which of the following statements about zoning in North
Carolina is true?




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