NC Post-Licensing 302 Unit Test 2026/2027 – Questions & Answers, Contracts, Form 2-T, Due Diligence, Addenda, Closing & Prorations – North Carolina Real Estate Commission

This NC Post-Licensing 302 Unit Test 2026/2027 study document provides an extensive 112-page collection of exam questions, answers, scenarios, calculations, and illustrations for North Carolina real estate post-licensing review. The material concentrates heavily on real estate contracts, offer and acceptance, Standard Form 2-T, due diligence, earnest money, purchase contract addenda, closing procedures, settlement statements, prorations, financing, disclosures, and North Carolina broker responsibilities. The source does not state a reliable total question count, so an unsupported number has not been added to the title. The contract-law portion reviews consideration, offer and acceptance, bilateral and unilateral contracts, executory and executed contracts, void and voidable agreements, novation, substantial performance, counteroffers, revocation, contract termination, the statute of frauds, parol evidence, fraud, misrepresentation, duress, undue influence, rescission, specific performance, monetary damages, electronic signatures, and the Uniform Electronic Transactions Act. Scenario-based questions require students to identify how these principles apply to actual North Carolina residential transactions rather than simply memorize definitions. A central focus is the North Carolina Offer to Purchase and Contract, Standard Form 2-T, together with Standard Form 2G Guidelines to Offer to Purchase and Contract. The questions examine property identification, purchase price, legal descriptions, effective dates, buyer and seller responsibilities, fixtures and personal property, possession, settlement, closing, electronic transactions, home warranties, and required contract provisions. The material also repeatedly tests the limits of a broker's authority, particularly unauthorized practice of law, explaining versus interpreting contractual provisions, use of attorney-prepared forms, standardized addenda, and the broker's duty to competently prepare transaction documents. The document gives extensive attention to due diligence and earnest money deposits. Students review the effective date, optional due diligence fees, the due diligence period, property investigations, repair negotiations, earnest money deadlines, dishonored payments, escrow and trust-account handling, disputed earnest money, and termination rights. It also covers Standard Form 310-T Due Diligence Request and Agreement for repair requests and Standard Form 4-T Agreement to Amend Contract when parties want to modify selected terms of an existing purchase agreement. Another major component covers North Carolina purchase-contract addenda and special transactions, including the Loan Assumption Addendum, Seller Financing Addendum, New Construction Addendum, Back-Up Contract Addendum, Short Sale Addendum, Buyer Possession Before Closing Agreement, Seller Possession After Closing Agreement, Additional Provisions Addendum, Lead-Based Paint Addendum, and Owners' Association Disclosure Addendum. Students encounter practical scenarios involving secondary offers, short sales, lienholder approval, new construction, building deposits, loan assumptions, early buyer possession, post-closing seller possession, and conflicts between an addendum and the underlying purchase contract. Closing and settlement are also covered in depth. The material reviews closing attorneys, settlement, title evidence, title defects, deeds, final walk-throughs, closing obligations, wire-fraud precautions, settlement statements, debits and credits, accrued and prepaid expenses, property taxes, and prorations. Calculation questions require students to work with assessed values, tax rates, annual and monthly property taxes, calendar-year prorations, statutory 30-day-month/360-day-year calculations, and allocation of expenses between buyers and sellers. The later material extends into real estate financing and federal settlement requirements, including residential loan applications, borrower assets, RESPA, affiliated business arrangements, settlement-service referrals, Loan Estimates, Closing Disclosures, mortgage servicing transfers, and prohibited referral arrangements. The breadth of the document makes it suitable for candidates who want both conceptual review and scenario-based practice across major transactional areas of North Carolina post-licensing education. The uploaded source explicitly identifies the course as NC Post-Licensing 302 and the academic period as 2026/2027. It repeatedly references the North Carolina Real Estate Commission (NCREC) as the regulatory body relevant to broker competence and North Carolina real estate licensing requirements. No university or college is identified in the source, so no university name has been invented for SEO purposes. Relevant Students: This document is relevant to North Carolina provisional brokers completing Post-Licensing 302, NC real estate post-licensing students, newly licensed North Carolina brokers, real estate licensees preparing for unit tests, residential real estate agents, buyer's agents, seller's agents, brokers studying Standard Form 2-T, students reviewing North Carolina purchase contracts, and licensees strengthening their knowledge of due diligence, closing, settlement, financing, addenda, and transaction documentation. 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