1|Page
NC Post-Licensing 303 Exam || Newest 2026 Complete
Questions And Correct Answers (Verified
Answers)||VERIFIED EXAM!!! |Already Graded
A+||NEWEST EXAM!!!
A team may not use their name in advertising if -
ANSWER-the entity has no BIC
PBs may only affiliate with two BICs if, - ANSWER-The
BICs are with 2 different firms and in the same physical
location and acting as co-listing/selling agents.
Fair housing in North Carolina is enforced by? - ANSWER-
NC Human relations commission.
In NC the disciplinary process begins with? - ANSWER-
The filing of a complaint
Upon receipt of a complaint, NCREC is required to -
ANSWER-investigate
An investigation results in - ANSWER-a letter of inquiry
,2|Page
Respondents of a letter of inquiry must respond to NCREC
withing - ANSWER-14 days
Step by step plan for responding to letter of inquiry -
ANSWER-- Review the file
- Write a narrative response
- Attach documents
- Identify witnesses
NCREC may impose any of the following sanctions on a
licensee as a result of a disciplinary investigation; -
ANSWER-- License revocation
- License suspension
- Reprimand
- Conditions, restrictions, on the license
When a provisional broker receives a letter of inquiry, who
will be notified, - ANSWER-BIC
BIC is required to exercise what to provisional brokers? -
ANSWER-Active and direct supervision.
,3|Page
If complaint is filed against a full broker, the BIC will be
named if the complaint falls within one of the following 5
categories or there is indication of the BICs involvement; -
ANSWER-1. Agency
2. Active and current licensure
3. Advertising
4. Trust accounts
5. Transaction files
A licensee may not earn compensation when their license
is inactive or expired however; - ANSWER-A licensee can
receive compensation that was earned when the license
was current and active.
A BIC may not pay a licensees entity unless that entity -
ANSWER-has a firm license
The only exception of when a licensee can provide
compensation or anything of value to an unlicensed
person in NC is payment to a - ANSWER-Travel agent
Licensees may always share compensation with parties to
the transaction provided that: - ANSWER-- There is written
disclosure and consent
, 4|Page
- Subject to lender approval
- Disclosed on CD
Compensation issues that ought to be included and
reviewed by licensees and the firm in the brokers firm
employment agreement; - ANSWER-- Commision splits
- Receipts of bonuses
- Additional fees
- Handling of referrals
- Payment upon termination
Brokerages may pay referral fees in any state if the person
to whom the referral is being paid has a - ANSWER-
current and active license in any state
When a referral is made, what documents should be in the
brokers file? - ANSWER-1. Written documentation
regarding the fee
2. Proof of licensure
3. Copy of W9 for broker issuance of a 1099
The payment of buyer-broker co-op fees is dictated by the
policies of? - ANSWER-Local MLS rules and policies
NC Post-Licensing 303 Exam || Newest 2026 Complete
Questions And Correct Answers (Verified
Answers)||VERIFIED EXAM!!! |Already Graded
A+||NEWEST EXAM!!!
A team may not use their name in advertising if -
ANSWER-the entity has no BIC
PBs may only affiliate with two BICs if, - ANSWER-The
BICs are with 2 different firms and in the same physical
location and acting as co-listing/selling agents.
Fair housing in North Carolina is enforced by? - ANSWER-
NC Human relations commission.
In NC the disciplinary process begins with? - ANSWER-
The filing of a complaint
Upon receipt of a complaint, NCREC is required to -
ANSWER-investigate
An investigation results in - ANSWER-a letter of inquiry
,2|Page
Respondents of a letter of inquiry must respond to NCREC
withing - ANSWER-14 days
Step by step plan for responding to letter of inquiry -
ANSWER-- Review the file
- Write a narrative response
- Attach documents
- Identify witnesses
NCREC may impose any of the following sanctions on a
licensee as a result of a disciplinary investigation; -
ANSWER-- License revocation
- License suspension
- Reprimand
- Conditions, restrictions, on the license
When a provisional broker receives a letter of inquiry, who
will be notified, - ANSWER-BIC
BIC is required to exercise what to provisional brokers? -
ANSWER-Active and direct supervision.
,3|Page
If complaint is filed against a full broker, the BIC will be
named if the complaint falls within one of the following 5
categories or there is indication of the BICs involvement; -
ANSWER-1. Agency
2. Active and current licensure
3. Advertising
4. Trust accounts
5. Transaction files
A licensee may not earn compensation when their license
is inactive or expired however; - ANSWER-A licensee can
receive compensation that was earned when the license
was current and active.
A BIC may not pay a licensees entity unless that entity -
ANSWER-has a firm license
The only exception of when a licensee can provide
compensation or anything of value to an unlicensed
person in NC is payment to a - ANSWER-Travel agent
Licensees may always share compensation with parties to
the transaction provided that: - ANSWER-- There is written
disclosure and consent
, 4|Page
- Subject to lender approval
- Disclosed on CD
Compensation issues that ought to be included and
reviewed by licensees and the firm in the brokers firm
employment agreement; - ANSWER-- Commision splits
- Receipts of bonuses
- Additional fees
- Handling of referrals
- Payment upon termination
Brokerages may pay referral fees in any state if the person
to whom the referral is being paid has a - ANSWER-
current and active license in any state
When a referral is made, what documents should be in the
brokers file? - ANSWER-1. Written documentation
regarding the fee
2. Proof of licensure
3. Copy of W9 for broker issuance of a 1099
The payment of buyer-broker co-op fees is dictated by the
policies of? - ANSWER-Local MLS rules and policies
