2 0 2 4 /2025 | © copyright | This work may not be copied for profit gain Excel!
NC Post-Licensing 302 - Unit Test
Questions and Answers 2024/2025
In a real estate transaction, which of the following is an example of consideration?
The seller's promise to sell
Your automatic check writer wrote a check for $51.50, but your printer ran out of toner, so
you had to fill in the handwritten line. In a hurry, you accidentally wrote, "Fifty-one dollars
and no/100 cents." Which amount takes priority?
The handwritten number
Morgan has agreed to sell his home to Dierks, and they've signed a contract. Which of these
actions changes the contract from executory to executed?
Dierks' lender funded the loan, and closing took place
_______ is an example of circumstances that are beyond the buyers' control, meaning they
can't practically do what they've agreed to do, and the offer terminates.
Destruction of property
If a contract is for an illegal purpose, it's ______
Void
Which of the following is NOT a valid reason for an offer termination in North Carolina?
Improper forms
Which offer would be the most appealing to a seller?
1|Page| GradeA+ | 2 0 0 2 5
,2 0 2 4 /2025 | © copyright | This work may not be copied for profit gain Excel!
It depends on the seller's needs and motivations
Kirk and his cousin Dewey decided to buy a vacation home. They entered into a contract with
the seller, Crystal. Before finalizing the sale, Dewey wanted out, but he doesn't want to let his
cousin down. So instead of pulling out altogether, Dewey convinced his son to replace him in
the purchase contract. Kirk and Crystal agreed to the substitution, and Dewey was released
from all his obligations under the contract. Dewey's son is now the contracting party. What's
this an example of?
Novation
What type of language should be used to write contracts?
Plain language
When does offer and acceptance occur?
When both parties sign a contract with the full understanding of the terms.
Sylvan, the seller, and Eric, the buyer, have signed an option agreement, which is an offer to
purchase a specific piece of real estate without the obligation to buy it. Until Eric exercises his
option to buy, only Sylvan is bound by the option agreement; he may not sell the property to
anyone else during the option period. What type of contract is this?
Unilateral
Three of these statements about interpreting contracts are true, and one is not. Which
statement is FALSE?
A handwritten insertion can be canceled out by typing over it.
1|Page| GradeA+ | 2 0 0 2 5
,2 0 2 4 /2025 | © copyright | This work may not be copied for profit gain Excel!
What is wrong with this statement: "Handwritten information on a contract is not legally
binding. All insertions must be typed."?
Insertions do not have to be typed to be legally binding.
Desmond has a signed listing agreement with his clients, the Harpers. In exchange for helping
the Harpers list, market, and sell their home, the Harpers have agreed to pay Desmond a
commission. What type of agreement do Desmond and the Harpers have?
Bilateral
The Nettles have accepted the Briars' purchase offer, and both parties have signed the sales
contract. The funds, and the title, should transfer in a matter of days, but otherwise the all
elements and terms of the contract have been met. What type of contract do the Nettles and
the Briars have?
Executory
Ruthie is explaining the termination option to her buyer client. How would she explain that
"time is of the essence" is for the discharge under operation of law option?
"This means that if the seller doesn't decide by the deadline, the buyer is no longer
held to the contract"
Why do you think that handwritten changes take priority over typed changes?
It's less likely to be done inadvertently
Breanna signed a purchase offer stating she'd buy Kathy's home for $150,000. Kathy
rejected that offer but said she'd sell it to Breanna for $200,000. Breanna agreed to these
terms, and they added their signatures. Which of the following statements is correct?
1|Page| GradeA+ | 2 0 0 2 5
, 2 0 2 4 /2025 | © copyright | This work may not be copied for profit gain Excel!
Breanna accepted the offer Kathy made
Rex needs to handle some money he acquired during an "unsavory" business deal. He agrees
to sign his boat over to his colleague, Ben, if Ben can launder the money and return it to Rex
as part of a legal business dealing. What kind of contract do Rex and Ben have?
Void
Which of the following is a legitimate reason to counter an offer?
Price
When a seller's agent receives a written offer from a prospective buyer, how must it be
handled?
It must be submitted promptly to the seller
Which of these sentences accurately lists rules for interpreting a contract?
Typed text takes precedence over pre-printed text, and spelled-out numbers (e.g.
four) take precedence over numerals (e.g. 5)
Zelda received an offer from Matthew for her house on Monday. The offer is set to expire
Wednesday. After a sleepless night on Monday, Matthew told his broker to revoke the offer.
Zelda hadn't accepted the offer as of Tuesday night. What happens to Matthew's offer?
The offer is terminated under contract revocation laws
Kent has received an offer for his house. What is the best solution if there are some offer
terms he's hesitant to accept?
Reject the offer but reply with a form that outlines acceptable conditions
1|Page| GradeA+ | 2 0 0 2 5
NC Post-Licensing 302 - Unit Test
Questions and Answers 2024/2025
In a real estate transaction, which of the following is an example of consideration?
The seller's promise to sell
Your automatic check writer wrote a check for $51.50, but your printer ran out of toner, so
you had to fill in the handwritten line. In a hurry, you accidentally wrote, "Fifty-one dollars
and no/100 cents." Which amount takes priority?
The handwritten number
Morgan has agreed to sell his home to Dierks, and they've signed a contract. Which of these
actions changes the contract from executory to executed?
Dierks' lender funded the loan, and closing took place
_______ is an example of circumstances that are beyond the buyers' control, meaning they
can't practically do what they've agreed to do, and the offer terminates.
Destruction of property
If a contract is for an illegal purpose, it's ______
Void
Which of the following is NOT a valid reason for an offer termination in North Carolina?
Improper forms
Which offer would be the most appealing to a seller?
1|Page| GradeA+ | 2 0 0 2 5
,2 0 2 4 /2025 | © copyright | This work may not be copied for profit gain Excel!
It depends on the seller's needs and motivations
Kirk and his cousin Dewey decided to buy a vacation home. They entered into a contract with
the seller, Crystal. Before finalizing the sale, Dewey wanted out, but he doesn't want to let his
cousin down. So instead of pulling out altogether, Dewey convinced his son to replace him in
the purchase contract. Kirk and Crystal agreed to the substitution, and Dewey was released
from all his obligations under the contract. Dewey's son is now the contracting party. What's
this an example of?
Novation
What type of language should be used to write contracts?
Plain language
When does offer and acceptance occur?
When both parties sign a contract with the full understanding of the terms.
Sylvan, the seller, and Eric, the buyer, have signed an option agreement, which is an offer to
purchase a specific piece of real estate without the obligation to buy it. Until Eric exercises his
option to buy, only Sylvan is bound by the option agreement; he may not sell the property to
anyone else during the option period. What type of contract is this?
Unilateral
Three of these statements about interpreting contracts are true, and one is not. Which
statement is FALSE?
A handwritten insertion can be canceled out by typing over it.
1|Page| GradeA+ | 2 0 0 2 5
,2 0 2 4 /2025 | © copyright | This work may not be copied for profit gain Excel!
What is wrong with this statement: "Handwritten information on a contract is not legally
binding. All insertions must be typed."?
Insertions do not have to be typed to be legally binding.
Desmond has a signed listing agreement with his clients, the Harpers. In exchange for helping
the Harpers list, market, and sell their home, the Harpers have agreed to pay Desmond a
commission. What type of agreement do Desmond and the Harpers have?
Bilateral
The Nettles have accepted the Briars' purchase offer, and both parties have signed the sales
contract. The funds, and the title, should transfer in a matter of days, but otherwise the all
elements and terms of the contract have been met. What type of contract do the Nettles and
the Briars have?
Executory
Ruthie is explaining the termination option to her buyer client. How would she explain that
"time is of the essence" is for the discharge under operation of law option?
"This means that if the seller doesn't decide by the deadline, the buyer is no longer
held to the contract"
Why do you think that handwritten changes take priority over typed changes?
It's less likely to be done inadvertently
Breanna signed a purchase offer stating she'd buy Kathy's home for $150,000. Kathy
rejected that offer but said she'd sell it to Breanna for $200,000. Breanna agreed to these
terms, and they added their signatures. Which of the following statements is correct?
1|Page| GradeA+ | 2 0 0 2 5
, 2 0 2 4 /2025 | © copyright | This work may not be copied for profit gain Excel!
Breanna accepted the offer Kathy made
Rex needs to handle some money he acquired during an "unsavory" business deal. He agrees
to sign his boat over to his colleague, Ben, if Ben can launder the money and return it to Rex
as part of a legal business dealing. What kind of contract do Rex and Ben have?
Void
Which of the following is a legitimate reason to counter an offer?
Price
When a seller's agent receives a written offer from a prospective buyer, how must it be
handled?
It must be submitted promptly to the seller
Which of these sentences accurately lists rules for interpreting a contract?
Typed text takes precedence over pre-printed text, and spelled-out numbers (e.g.
four) take precedence over numerals (e.g. 5)
Zelda received an offer from Matthew for her house on Monday. The offer is set to expire
Wednesday. After a sleepless night on Monday, Matthew told his broker to revoke the offer.
Zelda hadn't accepted the offer as of Tuesday night. What happens to Matthew's offer?
The offer is terminated under contract revocation laws
Kent has received an offer for his house. What is the best solution if there are some offer
terms he's hesitant to accept?
Reject the offer but reply with a form that outlines acceptable conditions
1|Page| GradeA+ | 2 0 0 2 5
