NC Post-Licensing 303 Updated Actual
Exam Question and Answer (2026/2027)
| A+ Verified
• Terms associated with commercial office space -✓✓ Floor plate, core area,
usable area and rentable area
• Residential Rental Agreement Act responsibilities -✓✓ 1-Property must be
habitable at the time of possession
2-Habitability cannot be waived by the lease agreement
3-tenant cannot withhold rent even if the property is not habitable
4-At the beginning of the tenancy, landlord to replace the batteries in the smoke
detector and carbon monoxide detector
• Broker-in-Charge duties -✓✓ 1-Retain all ads used to market listings
2-Supervise PBs
3-Make sure all brokers get required CE and annually renew license
4-Keep trust account records
• Permitted assistant duties -✓✓ 1-Show rental units
2-Fill in blanks on rental agreement
3-Collect and deposit monies
4-Keep books and records
• Forbidden assistant duties -✓✓ 1-Show listings
2-Conduct open houses
3-Write ads for listings
4-Negotiate rent amounts or lease terms
• What happens if a Provisional Broker does not fulfill their required 90 hours of
post licensing in 3 years -✓✓ Status changes to inactive
• Qualifying Broker title for a business license -✓✓ Corporation--Officer
LLC--Manager
Partnership--General/Full Partner
, • Status of QB -✓✓ - Does not have to be BIC. Business has to have both, but does
not have to be same person
- No qualifying experience
- QB not responsible for PBs
• Definition of a subdivision -✓✓ One partial split into two or more lots for sale or
development and the dedication of a new/existing road (does not have to be a
public road)
• Collect commission after leaving a firm and going to another in the middle of a
listing transaction? -✓✓ yes
• Is a modular home on a permanent foundation treated as real property? -✓✓ yes
• Is a manufactured home placed on a lot real property? -✓✓ no
• Features of a commercial broker lien -✓✓ 1-can only be filed by listing firm
2-Is not superior to a mechanics lien
3-for commercial properties in the transaction
4-only be filed after a contract is formed for the commercial transaction
• What is a commercial percentage lease -✓✓ Fixed base rent plus percentage of
tenants gross/net income
• Activities that require a NC broker license -✓✓ 1-lease or sell properties for
others for compensation
2-receive compensation for referrals
• Exemptions from NC Real Estate License -✓✓ 1-Person who acts under POA
2-Property owner
3-Attorney in the practice of law
4-Person acting under a court order (trustee)
• When may a provisional broker lawfully engage in brokerage activities? -✓✓
When actively supervised by designated BIC
• BIC requirements -✓✓ 1-Non-Provisional Broker
2-2 years of experience (full-time brokerage) in the last 5 years.
Exam Question and Answer (2026/2027)
| A+ Verified
• Terms associated with commercial office space -✓✓ Floor plate, core area,
usable area and rentable area
• Residential Rental Agreement Act responsibilities -✓✓ 1-Property must be
habitable at the time of possession
2-Habitability cannot be waived by the lease agreement
3-tenant cannot withhold rent even if the property is not habitable
4-At the beginning of the tenancy, landlord to replace the batteries in the smoke
detector and carbon monoxide detector
• Broker-in-Charge duties -✓✓ 1-Retain all ads used to market listings
2-Supervise PBs
3-Make sure all brokers get required CE and annually renew license
4-Keep trust account records
• Permitted assistant duties -✓✓ 1-Show rental units
2-Fill in blanks on rental agreement
3-Collect and deposit monies
4-Keep books and records
• Forbidden assistant duties -✓✓ 1-Show listings
2-Conduct open houses
3-Write ads for listings
4-Negotiate rent amounts or lease terms
• What happens if a Provisional Broker does not fulfill their required 90 hours of
post licensing in 3 years -✓✓ Status changes to inactive
• Qualifying Broker title for a business license -✓✓ Corporation--Officer
LLC--Manager
Partnership--General/Full Partner
, • Status of QB -✓✓ - Does not have to be BIC. Business has to have both, but does
not have to be same person
- No qualifying experience
- QB not responsible for PBs
• Definition of a subdivision -✓✓ One partial split into two or more lots for sale or
development and the dedication of a new/existing road (does not have to be a
public road)
• Collect commission after leaving a firm and going to another in the middle of a
listing transaction? -✓✓ yes
• Is a modular home on a permanent foundation treated as real property? -✓✓ yes
• Is a manufactured home placed on a lot real property? -✓✓ no
• Features of a commercial broker lien -✓✓ 1-can only be filed by listing firm
2-Is not superior to a mechanics lien
3-for commercial properties in the transaction
4-only be filed after a contract is formed for the commercial transaction
• What is a commercial percentage lease -✓✓ Fixed base rent plus percentage of
tenants gross/net income
• Activities that require a NC broker license -✓✓ 1-lease or sell properties for
others for compensation
2-receive compensation for referrals
• Exemptions from NC Real Estate License -✓✓ 1-Person who acts under POA
2-Property owner
3-Attorney in the practice of law
4-Person acting under a court order (trustee)
• When may a provisional broker lawfully engage in brokerage activities? -✓✓
When actively supervised by designated BIC
• BIC requirements -✓✓ 1-Non-Provisional Broker
2-2 years of experience (full-time brokerage) in the last 5 years.
