NC Post Licensing 301 Exam with Verified
Solutions
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Terms in this set (58)
Can an inactive agent be Yes. If and only if they were active at time of referral
paid a referral commission
if they were active at the
time they made the
referral?
Must Dual Agency be in Before an offer is made, Yes. Dual agency must be in
writing? writing and signed by both parties
At a listing appointment, Advertising
the agent should be
gathering all information
for listing and what?
May a BIC and their No. Because the BIC oversees the PBs transactions,
Provisional Broker enter this would be a conflict of interest
into dual agency
together?
When must all agency be Prior to first offer
"Written"
Are all in-house No. The exceptions would be Seller Sub Agency or
transactions Dual Agency? Unrepresented Buyers
Can The Real Estate No. They can only reprimand, suspend, and revoke
Commission fine brokers? licenses
, Who can sue agents civilly Principles of a transaction
for monetary
compensation?
If Dual Agency is not No. Therefore it is imperative to disclose dual agency
disclosed is a commission before any offers are written
due?
As a dual agent, the Contractual Obligations
agent's duties are reduced
to what?
What must all agency A beginning and ending date
agreements have?
Oral to Oral & Written to The permissions needed to show a property as a
Written describe what? "Dual Agent"
What should every agent Deed, Plot Map, Tax Info, RPD, MOG, Listing
bring to a listing Agreement (Several Other items)
appointment?
Who gets paid in an The listing agent, regardless of who brings a buyer,
Exclusive Right to Sell and likely the buyer agent
listing agreement?
Who gets paid in an Whomever brings a buyer
exclusive listing
agreement?
Who can sell a property in Any actively licensed agent
an Open listing?
In a net listing money Listing Agent
above the asking price is
paid to whom?
Who is the actual agent to The Firm (Individual agents are sub agents to seller)
the principle in a
transaction?
No M.O.G. is needed for Lease to purchase, 1st Dwelling, and Foreclosure
what 3 listings?
Solutions
Save
Terms in this set (58)
Can an inactive agent be Yes. If and only if they were active at time of referral
paid a referral commission
if they were active at the
time they made the
referral?
Must Dual Agency be in Before an offer is made, Yes. Dual agency must be in
writing? writing and signed by both parties
At a listing appointment, Advertising
the agent should be
gathering all information
for listing and what?
May a BIC and their No. Because the BIC oversees the PBs transactions,
Provisional Broker enter this would be a conflict of interest
into dual agency
together?
When must all agency be Prior to first offer
"Written"
Are all in-house No. The exceptions would be Seller Sub Agency or
transactions Dual Agency? Unrepresented Buyers
Can The Real Estate No. They can only reprimand, suspend, and revoke
Commission fine brokers? licenses
, Who can sue agents civilly Principles of a transaction
for monetary
compensation?
If Dual Agency is not No. Therefore it is imperative to disclose dual agency
disclosed is a commission before any offers are written
due?
As a dual agent, the Contractual Obligations
agent's duties are reduced
to what?
What must all agency A beginning and ending date
agreements have?
Oral to Oral & Written to The permissions needed to show a property as a
Written describe what? "Dual Agent"
What should every agent Deed, Plot Map, Tax Info, RPD, MOG, Listing
bring to a listing Agreement (Several Other items)
appointment?
Who gets paid in an The listing agent, regardless of who brings a buyer,
Exclusive Right to Sell and likely the buyer agent
listing agreement?
Who gets paid in an Whomever brings a buyer
exclusive listing
agreement?
Who can sell a property in Any actively licensed agent
an Open listing?
In a net listing money Listing Agent
above the asking price is
paid to whom?
Who is the actual agent to The Firm (Individual agents are sub agents to seller)
the principle in a
transaction?
No M.O.G. is needed for Lease to purchase, 1st Dwelling, and Foreclosure
what 3 listings?
