Post 303 NC Law, Rules & Legal Concepts Exam
Practice 2026-2027 Actual Comprehensive Real Exam
Questions And Verified Answers (Correct Answers)
Graded A+ | Newest Exam | Just Released !!
What are the requirements for a Limited Non-Resident Commerical
license?
1) Licensed in good standing in another state
2) Affiliation with a NC Broker
3) Declaration to the Commission
4) Limited to commercial sales / leasing
What are the responsibilites of a qualifying broker?
1) Ensure BICs are appointed at each office location
2) Renew the FIRM license
3) Inform the Commission if the firm name or address changes or if there
is a change in status as QB
,Current License vs Expired License
currency - did the broker pay to renew his/her license.
Pay your currency and you have a current license. Don't pay your
currency and your license expires.
Active License vs Inactive License
Active = affiliation (if provisional), completed CE, completed POST (if
provisional)
The following does NOT need a license
a salaried employee of a corporation that sells homes in NC
The following people NEED a license
- An commercial agent from another state
-A son who manages his parents condo in exchange for free lodging
- An assistant who shows property to buyers
Bona fide employees of a corporation selling its own homes are
NOT required to have a real estate license
, The license triggering event is
earning compensation on behalf of another.
Compensation includes
monetary and non-monetary payment
License law states any "valuable consideration" for brokerage activities
would require a license
An unlicensed employee may perform administrative tasks but not
brokerage activities, such as showing homes for sale or any activity that
implies that they hold a real estate license.
Practice 2026-2027 Actual Comprehensive Real Exam
Questions And Verified Answers (Correct Answers)
Graded A+ | Newest Exam | Just Released !!
What are the requirements for a Limited Non-Resident Commerical
license?
1) Licensed in good standing in another state
2) Affiliation with a NC Broker
3) Declaration to the Commission
4) Limited to commercial sales / leasing
What are the responsibilites of a qualifying broker?
1) Ensure BICs are appointed at each office location
2) Renew the FIRM license
3) Inform the Commission if the firm name or address changes or if there
is a change in status as QB
,Current License vs Expired License
currency - did the broker pay to renew his/her license.
Pay your currency and you have a current license. Don't pay your
currency and your license expires.
Active License vs Inactive License
Active = affiliation (if provisional), completed CE, completed POST (if
provisional)
The following does NOT need a license
a salaried employee of a corporation that sells homes in NC
The following people NEED a license
- An commercial agent from another state
-A son who manages his parents condo in exchange for free lodging
- An assistant who shows property to buyers
Bona fide employees of a corporation selling its own homes are
NOT required to have a real estate license
, The license triggering event is
earning compensation on behalf of another.
Compensation includes
monetary and non-monetary payment
License law states any "valuable consideration" for brokerage activities
would require a license
An unlicensed employee may perform administrative tasks but not
brokerage activities, such as showing homes for sale or any activity that
implies that they hold a real estate license.
