NORTH CAROLINA POST LICENSING
301 EXAM 2024 COMPLETE 350
QUESTIONS WITH 100% CORRECT
DETAILED & VERIFIED ANSWERS
BRAND NEW EXAM ALREADY
GRADED A+
Under the residential property disclosure act, when does
the seller have to provide the RPOADS? -
....ANSWER...Before the offer
If the seller doesn't provide the RPOADS by the time of
offer....then what? - ....ANSWER...3 calendar day right of
recision
If my client tells me not to provide mineral and oil right
information, do I have to? - ....ANSWER...Yes, it's a
material fact
Regarding lead based paint, what do you need to do for
something built in 1979? - ....ANSWER...Nothing, 1978
and before
1
,What do I need to disclose out of the following:
1. Material Facts
2. Representing one side or another
3. Personal bias
4. Commission split - ....ANSWER...Everything except 4
Regarding measuring square footage, how do I measure
the area of a staircase? -
....ANSWER...Counting the stair opening twice for both
floors
Three things to remember for a BPO - ....ANSWER...1.
it cant be used as an appraisal, must be a range.
2. a PB CAN do it, they just can't be paid for it.
3. you have to do a personal inspection, not just a
drive-by
When you're listing someone's house and they aren't in a
hurry to sell it, where should you price the house? -
....ANSWER...The upper end of the range
All agreements must have what? - ....ANSWER...A
beginning and ending date
2
,What is something we have to put on all documents as
brokers? - ....ANSWER...Our license number
This is just a friendly reminder to brush up on... -
....ANSWER...Qualifying Ratio Math. Question 2 on
Page 194
Representing a buyer client, before any offer is made on a
property, what should you provide them? -
....ANSWER...a CMA
Dual agency involves how many firms? -
....ANSWER...One
Designated agency involves how many firms? -
....ANSWER...One
When you're appointed in designated agency, can you fully
advocate on your clients behalf? -
....ANSWER...Yes. Designated agency allows you to
become a "coach" again instead of just a "referee" like
in dual agency
If a firm only practices designated agency, what
combination isn't allowed? - ....ANSWER...PB on one
side, BIC on the other
3
, 4 scenarios for property management. Which one
needs a license?
1. Work as an employee for PM company
2. Manage HOA
3. Employed by an entity
4. Do something for someone else for a fee -
....ANSWER... 4 needs a license
What's one of the most important things to put in the
Property management agreement? -
....ANSWER...The authority of the PM. How much of
the owner's money are they allowed to spend
What does a PM typically do?
1. Competitive bidding
2. Make decisions on capital expenditures
3. Reinvest Profits
4. Do tax returns or pay personal taxes -
....ANSWER... 1 - competitive bidding (multiple bids
for mowing, repairs, etc.)
The provision in a listing agreement that may
4
301 EXAM 2024 COMPLETE 350
QUESTIONS WITH 100% CORRECT
DETAILED & VERIFIED ANSWERS
BRAND NEW EXAM ALREADY
GRADED A+
Under the residential property disclosure act, when does
the seller have to provide the RPOADS? -
....ANSWER...Before the offer
If the seller doesn't provide the RPOADS by the time of
offer....then what? - ....ANSWER...3 calendar day right of
recision
If my client tells me not to provide mineral and oil right
information, do I have to? - ....ANSWER...Yes, it's a
material fact
Regarding lead based paint, what do you need to do for
something built in 1979? - ....ANSWER...Nothing, 1978
and before
1
,What do I need to disclose out of the following:
1. Material Facts
2. Representing one side or another
3. Personal bias
4. Commission split - ....ANSWER...Everything except 4
Regarding measuring square footage, how do I measure
the area of a staircase? -
....ANSWER...Counting the stair opening twice for both
floors
Three things to remember for a BPO - ....ANSWER...1.
it cant be used as an appraisal, must be a range.
2. a PB CAN do it, they just can't be paid for it.
3. you have to do a personal inspection, not just a
drive-by
When you're listing someone's house and they aren't in a
hurry to sell it, where should you price the house? -
....ANSWER...The upper end of the range
All agreements must have what? - ....ANSWER...A
beginning and ending date
2
,What is something we have to put on all documents as
brokers? - ....ANSWER...Our license number
This is just a friendly reminder to brush up on... -
....ANSWER...Qualifying Ratio Math. Question 2 on
Page 194
Representing a buyer client, before any offer is made on a
property, what should you provide them? -
....ANSWER...a CMA
Dual agency involves how many firms? -
....ANSWER...One
Designated agency involves how many firms? -
....ANSWER...One
When you're appointed in designated agency, can you fully
advocate on your clients behalf? -
....ANSWER...Yes. Designated agency allows you to
become a "coach" again instead of just a "referee" like
in dual agency
If a firm only practices designated agency, what
combination isn't allowed? - ....ANSWER...PB on one
side, BIC on the other
3
, 4 scenarios for property management. Which one
needs a license?
1. Work as an employee for PM company
2. Manage HOA
3. Employed by an entity
4. Do something for someone else for a fee -
....ANSWER... 4 needs a license
What's one of the most important things to put in the
Property management agreement? -
....ANSWER...The authority of the PM. How much of
the owner's money are they allowed to spend
What does a PM typically do?
1. Competitive bidding
2. Make decisions on capital expenditures
3. Reinvest Profits
4. Do tax returns or pay personal taxes -
....ANSWER... 1 - competitive bidding (multiple bids
for mowing, repairs, etc.)
The provision in a listing agreement that may
4
