301 NC POST LICENSING EXAM, PRACTICE EXAM AND STU
m m m m m m m m
DY GUIDE NEWEST 2024 ACTUAL EXAM 300 QUESTIONS A
m m m m m m m m
ND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |
m m m m m m
ALREADY GRADED A m m
Anmagent'smdutiesmtomthirdmpartiesminclude mallmthe mfollowingmEXCEPT
A) fairness.
B) obedience.
C) disclosure mofmmaterialmfact.
D) honesty.m- manswer-B) mobedience.
DerrinmhiresmAustinmwithmBestmHomesmRealtymtomlistmhismhome mformsale.mAsmAustinmismcompletingmthe mlis
tingmagreement,mDerrinmmentionsmthatmthemhotmwatermheatermhasmnotmworkedmformamcouple mofmweeksm
andmismnotmplanningmonmrepairingmitmsincemhemismsellingmthemhome.mDerrinmtellsmAustinmthatmhemcannotms
hare mthatminformationmwithmanyone masmitmmightmaffectmthemsale mofmthe mhome.mWhatmismthemBESTmcours
e mof mactionmformAustinmatmthismtime?
A) IfmAustinmsharesmtheminformationmregardingmthe mhotmwatermheater,mhe mwillmbeminmviolationmof mhismfid
uciarymduties,mandmDerrinmcanmsue mhimmformdisclosingmconfidentialminformation.
B) Austinmcanmsharemtheminformationmwithmpeople matmBestmHomesmRealtymbutmcannotmsharemitmwithman
ymfirmmrepresentingmambuyer.
C) Austinmmustmdisclose mthatmthe mhotmwatermheatermismnotmworkingmbecause mitmismammaterialmfact.
D) Austinmmustmobeymthemseller.mAustinmandmBestmHomesmRealtymowemfiduciarymdutiesmtomtheirmclie
nm-manswer-
C) mAustinmmustmdisclose mthatmthe mhotmwatermheatermismnotmworkingmbecause mitmismammaterialmfact.
Armin,mambrokermaffiliatedmwithmBestmHomesmRealty,mlistedmampropertymformsale mandmconductedmanmope
nmhouse.mCourtneymvisitedmthemopenmhousemandmdecidedmtommake manmoffer.mThemsellermhadmcompleted
m the m ResidentialmProperty mandmOwners'm Association mDisclosurem Statementm(RPOADS) mindicatingm allm def
ectsmthe msellermknowsmthatmexistmaboutmthemproperty.mInmthismsituation,mwhichmofmthemfollowingmstatem
entsmismTRUE?
A) Courtneymneedsmtombe madvisedmtomstillmconductmamfullmhome minspection.
B) Since mthe msellermdisclosedmallmknownmmaterialmfacts,mtheymhave mcompliedmwithmthemDoctrine mofmC
aveatmEmptormandmCourtneymdoesmnotmneedmtomcomplete mamfullmhome minspection.
C) Since mthe msellermdisclosedmallmknownmmaterialmfactsmthatmtheymweremaware mof,mCourtneymdoesmnotmne
edmtomcomplete mamfullmhome minspection.
,D) ArminmcanmassuremCourtneymthatmthemsellermhasmdisclosedmallmmaterialmfactsmandmshemdoesmnotmne
edmtomgetmhermownmhome minspection.m-manswer-
A) mCourtneymneedsmtombe madvisedmtomstillmconductmamfullmhome minspection.
Ambuyermandmamsellermare mnegotiatingmthemtermsmof mampossible mcontract.mThe msellermcounteroffersmtomt
he mbuyer,mandmthe mbuyermwantsmtomthinkmaboutmitmovernight.mThemnextmdaymthe mbuyermcallsmthemselling
m agentm andmsaysm they mwouldmlike mtomacceptmthe mseller's mcounteroffer.m Before mverifyingmthatmthembuyerm
hadmactuallymsignedmthemcounteroffer,mthemsellingmagentmcallsmthe mlistingmagentmtomsaymthe mbuyermhadm
acceptedmthe mseller'smcounteroffer.mThemsellermthenmgoesmonmtompurchase manothermhousembasedmonmth
e mbuyer'sm"acceptance"mofmtheirmcounteroffer.mWhenmthemsellingmagentmgoesmtompickmupmthemsignedmpa
perworkmfrommthe mbuyer,mthembuyermstatesmtheymnevermsignedmthemcounteroffermandmdomnotmwantmtom
buymthe mseller'smhome.mWhichmofmthe mfollowingmstatementsmismcorrect?
A) The msellingmagentmismnotmresponsible mformthe mmisrepresentation.
B) Bothmthe mbuyermandmthe msellingmagentmare mresponsible mformthe mmisrepresentation.
C) Neithermthe mbuyerm-manswer-A) mThe msellingmagentmismresponsible mformthe mmisrepresentation.
The mrealmestatembroker'smfiduciarymresponsibilitymtomkeepmthemprincipalminformedmofmallmfacts,mincluding
m property m condition mandmissuesm thatmaffectmamseller'smwillingnessm tomsellm andmambuyer's mwillingness mtomb
uy,mismthe mdutymof
A) reasonable mskill,mcare,mandmdiligence.
B) disclosure.
C) obedience.
D) accounting.m-manswer-B) mdisclosure.
The mdutiesmowedmfrommthe m"agent"mtomthe m"principal"mare mBESTmdescribedmbymwhichmof mthe mfollowing?
A) Obedience, mloyalty,maccounting,mandmreasonable mcare
B) Fairnessmandmhonesty
C) Fairness,mhonest,mobedience, mloyalty,maccounting,mreasonable mskill,mandmcare
D) Obedience, mloyalty,mdisclosure,mconfidentiality, maccounting,mreasonable mskill,mcare,mandmdiligenc
e m-manswer-
D) mObedience, mloyalty,mdisclosure,mconfidentiality, maccounting,mreasonable mskill,mcare,mandmdiligen
ce
Whichmof mthe mfollowingmBESTmdescribesmsubagent?
,A) Literallymthe magentmofmanmagent,mampersonmdesignatedmormemployedmbymanmagentmtomperformmallmorm
partmofmthe magent'smassignedmtasksmormservicesmonmbehalf mofmthe magent'smprincipal
B) The mpersonmwhomauthorizesmanothermtomactmonmthe mprincipal'smbehalf mwithinmspecifiedmparametersma
ndmtomwhommthe magentmowesmcertainmlegalmduties
C) The mpersonmactingmformandmonmbehalf mofmthemprincipalmwithinmthemboundsmofmthemauthoritymgrante
dmandmwhomowesmfiduciarymdutiesmtomthe mprincipal
D) The mrelationshipmthatmexistsmwhenmonempersonmismauthorizedmtomactmformandmonmbehalf mofmanotherm-
m answer-
A) mLiterallymthemagentmofmanmagent,mampersonmdesignatedmormemployedmbymanmagentmtomperformmallmormp
artmof mthe magent'smassignedmtasksmormservicesmonmbehalf mofmthe magent'smprincipal
Whichmof mthe mfollowingmstatementsmismTRUEmregardingmagencymagreements?
A) Listingmagreements,mpropertymmanagementmagreements,mbuyermagencymagreements,mandmten
antmrepresentationmagreementsmcanmallmbe mexpressmoralmagreementsmformamperiodmofmtime.
B) Listingmagreementsmandmpropertymmanagementmagreementsmmustmbemexpressmwrittenmagreementsmfr
ommthe mbeginningmofmthe mrelationshipmandmbuyermagencymagreementsmandmtenantmrepresentationmagre
ementsmcanmbe minmexpressmoralmagreementsmformamperiodmofmtime.
C) Listingmagreementsmandmbuyermagencymagreementsmmustmbe mexpressmwrittenmagreementsmfrom
m the m beginningmof mthemrelationship m andmproperty mmanagementm agreementsmandm tenantm represen
tationmagreementsmcanmbe mexpressmoralmagreementsmformamperiodmofmtime.
D) Listingmagreementsmandmpropertymmanagementmagreementsmcanmexpressmoralmagreementsmformampe
riodmofmtime mandmbuyermagencymagreementsmandmtenantmrepresentationmagreementsmmustmbe minmex m-
m answer-
B) mListingmagreementsmandmpropertymmanagementmagreementsmmustmbemexpressmwrittenmagreementsm
frommthe mbeginningmof mthemrelationshipmandmbuyermagencymagreementsmandmtenantmrepresentationmag
reementsmcanmbe minmexpressmoralmagreementsmformamperiodmof mtime.
Whichmof mthe mfollowingmstatementsmBESTmdescribesmNorthmCarolinamUnfairmDeceptive mPracticesmAct?
A) Thismlawmprohibitsmdisclosure mregardingmfactsmaboutmthe mpropertymitself mormthe msurroundingmarea.
B) Thismlawmprohibitsmunfairmormdeceptivemactsmormpracticesminmcommercemandmappliesmtomthemsalemorm
rentalmof mrealmestate mandmtomrealmestate mbrokers.
C) Thismlawmholdsmthat—exceptminmcasesminvolvingmfraudmbymthe msellermormthe mseller'smagent—
the msellermhasmnomaffirmative mobligationmtomdiscloseminformationmaboutmthempropertymbeingmsoldmtomth
e mpurchasermandmplacesmthemburdenmonmthe mbuyermtominvestigate mthe mpropertymbeforemcontractingmtomp
urchase mthe mproperty.
D) Thismlawmprohibitsmmakingmgeneralizedmexpressionmofmambroker'smopinionmaboutmamproperty.m-
m answer-
B) mThismlawmprohibitsmunfairmormdeceptive mactsmormpracticesminmcommerce mandmappliesmtomthemsalemorm
rentalmof mrealmestate mandmtomrealmestate mbrokers.
, Georgemknowsmthatmthempropertymismaboutmtombe mrezonedmformcommercialmuse,mwhichmwillmgreatlyminc
rease mthemvaluemofmthemproperty.mGeorgemdoesmnotmsharemthisminformationmwithmthemsellermandmoffers
m tom buy m them propertym form himselfm asm anm investment.mGeorgem closesmonm them propertym withm them sellerm a
ndmthenmaftermthe mrezoningmhasmbeenmfinalized,mGeorge msellsmthe mpropertymatmamsubstantialmprofit.mTh
ismismanmexample mof
A) self-dealing.
B) makingmfalse mpromises.
C) undisclosedmdualmagency.
D) impropermdealing.m-manswer-A) mself-dealing.
Lanzomisminmthemprocessmof mlistingmamhousemformsale mandmtellsmthemsellermthatmhe mwillmstage mthemhouse,m
steammcleanmthemcarpets,mandmhire mamprofessionalmcleaningmcrewmtomcleanmpriormtomshowingmthemhouse
.mOnce mthemsellermsignedmthe mlistingmagreement,mLanzomfailedmtomprovide mthese mservices.mLanzommaymbe
m guilty m of m whichm of m the m following?
A) Makingmfalse mpromises
B) Undisclosedmdualmagency
C) Self-dealing
D) Impropermbrokerage mcommissionm-manswer-A) mMakingmfalse mpromises
Whomismrequiredmtomdisclose mmaterialmfacts?
A) Sellersmandmlistingmagents
B) Sellersmandmbuyers
C) Listingmagentsmandmsellingmagents
D) Sellers,mbuyers,mlistingmagents,mandmsellingmagentsm-manswer-C) mListingmagentsmandmsellingmagents
Francismlistedmampropertymformsale mandmdidmnotminvestigatemthe mpropertymformmaterialmfactsmbecausemhe m
reliedmonmthemseller'smstatementmthatmtheremwasmnothingmwrongmwithmthemproperty.mItmwasmlatermdiscov
eredmthatmtheremwasmamsubstantialmleakminmthemroof mthatmwasmeasilymdetectable.mInmthismsituation,mFranci
smcouldmbe mheldmliable mformwhichmof mthe mfollowing?
A) The msellermwillmbe mheldmresponsible mandmFrancismhasmnomliability
B) Negligentmmisrepresentationmormomission.
C) Willfulmmisrepresentationmormomission.
m m m m m m m m
DY GUIDE NEWEST 2024 ACTUAL EXAM 300 QUESTIONS A
m m m m m m m m
ND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |
m m m m m m
ALREADY GRADED A m m
Anmagent'smdutiesmtomthirdmpartiesminclude mallmthe mfollowingmEXCEPT
A) fairness.
B) obedience.
C) disclosure mofmmaterialmfact.
D) honesty.m- manswer-B) mobedience.
DerrinmhiresmAustinmwithmBestmHomesmRealtymtomlistmhismhome mformsale.mAsmAustinmismcompletingmthe mlis
tingmagreement,mDerrinmmentionsmthatmthemhotmwatermheatermhasmnotmworkedmformamcouple mofmweeksm
andmismnotmplanningmonmrepairingmitmsincemhemismsellingmthemhome.mDerrinmtellsmAustinmthatmhemcannotms
hare mthatminformationmwithmanyone masmitmmightmaffectmthemsale mofmthe mhome.mWhatmismthemBESTmcours
e mof mactionmformAustinmatmthismtime?
A) IfmAustinmsharesmtheminformationmregardingmthe mhotmwatermheater,mhe mwillmbeminmviolationmof mhismfid
uciarymduties,mandmDerrinmcanmsue mhimmformdisclosingmconfidentialminformation.
B) Austinmcanmsharemtheminformationmwithmpeople matmBestmHomesmRealtymbutmcannotmsharemitmwithman
ymfirmmrepresentingmambuyer.
C) Austinmmustmdisclose mthatmthe mhotmwatermheatermismnotmworkingmbecause mitmismammaterialmfact.
D) Austinmmustmobeymthemseller.mAustinmandmBestmHomesmRealtymowemfiduciarymdutiesmtomtheirmclie
nm-manswer-
C) mAustinmmustmdisclose mthatmthe mhotmwatermheatermismnotmworkingmbecause mitmismammaterialmfact.
Armin,mambrokermaffiliatedmwithmBestmHomesmRealty,mlistedmampropertymformsale mandmconductedmanmope
nmhouse.mCourtneymvisitedmthemopenmhousemandmdecidedmtommake manmoffer.mThemsellermhadmcompleted
m the m ResidentialmProperty mandmOwners'm Association mDisclosurem Statementm(RPOADS) mindicatingm allm def
ectsmthe msellermknowsmthatmexistmaboutmthemproperty.mInmthismsituation,mwhichmofmthemfollowingmstatem
entsmismTRUE?
A) Courtneymneedsmtombe madvisedmtomstillmconductmamfullmhome minspection.
B) Since mthe msellermdisclosedmallmknownmmaterialmfacts,mtheymhave mcompliedmwithmthemDoctrine mofmC
aveatmEmptormandmCourtneymdoesmnotmneedmtomcomplete mamfullmhome minspection.
C) Since mthe msellermdisclosedmallmknownmmaterialmfactsmthatmtheymweremaware mof,mCourtneymdoesmnotmne
edmtomcomplete mamfullmhome minspection.
,D) ArminmcanmassuremCourtneymthatmthemsellermhasmdisclosedmallmmaterialmfactsmandmshemdoesmnotmne
edmtomgetmhermownmhome minspection.m-manswer-
A) mCourtneymneedsmtombe madvisedmtomstillmconductmamfullmhome minspection.
Ambuyermandmamsellermare mnegotiatingmthemtermsmof mampossible mcontract.mThe msellermcounteroffersmtomt
he mbuyer,mandmthe mbuyermwantsmtomthinkmaboutmitmovernight.mThemnextmdaymthe mbuyermcallsmthemselling
m agentm andmsaysm they mwouldmlike mtomacceptmthe mseller's mcounteroffer.m Before mverifyingmthatmthembuyerm
hadmactuallymsignedmthemcounteroffer,mthemsellingmagentmcallsmthe mlistingmagentmtomsaymthe mbuyermhadm
acceptedmthe mseller'smcounteroffer.mThemsellermthenmgoesmonmtompurchase manothermhousembasedmonmth
e mbuyer'sm"acceptance"mofmtheirmcounteroffer.mWhenmthemsellingmagentmgoesmtompickmupmthemsignedmpa
perworkmfrommthe mbuyer,mthembuyermstatesmtheymnevermsignedmthemcounteroffermandmdomnotmwantmtom
buymthe mseller'smhome.mWhichmofmthe mfollowingmstatementsmismcorrect?
A) The msellingmagentmismnotmresponsible mformthe mmisrepresentation.
B) Bothmthe mbuyermandmthe msellingmagentmare mresponsible mformthe mmisrepresentation.
C) Neithermthe mbuyerm-manswer-A) mThe msellingmagentmismresponsible mformthe mmisrepresentation.
The mrealmestatembroker'smfiduciarymresponsibilitymtomkeepmthemprincipalminformedmofmallmfacts,mincluding
m property m condition mandmissuesm thatmaffectmamseller'smwillingnessm tomsellm andmambuyer's mwillingness mtomb
uy,mismthe mdutymof
A) reasonable mskill,mcare,mandmdiligence.
B) disclosure.
C) obedience.
D) accounting.m-manswer-B) mdisclosure.
The mdutiesmowedmfrommthe m"agent"mtomthe m"principal"mare mBESTmdescribedmbymwhichmof mthe mfollowing?
A) Obedience, mloyalty,maccounting,mandmreasonable mcare
B) Fairnessmandmhonesty
C) Fairness,mhonest,mobedience, mloyalty,maccounting,mreasonable mskill,mandmcare
D) Obedience, mloyalty,mdisclosure,mconfidentiality, maccounting,mreasonable mskill,mcare,mandmdiligenc
e m-manswer-
D) mObedience, mloyalty,mdisclosure,mconfidentiality, maccounting,mreasonable mskill,mcare,mandmdiligen
ce
Whichmof mthe mfollowingmBESTmdescribesmsubagent?
,A) Literallymthe magentmofmanmagent,mampersonmdesignatedmormemployedmbymanmagentmtomperformmallmorm
partmofmthe magent'smassignedmtasksmormservicesmonmbehalf mofmthe magent'smprincipal
B) The mpersonmwhomauthorizesmanothermtomactmonmthe mprincipal'smbehalf mwithinmspecifiedmparametersma
ndmtomwhommthe magentmowesmcertainmlegalmduties
C) The mpersonmactingmformandmonmbehalf mofmthemprincipalmwithinmthemboundsmofmthemauthoritymgrante
dmandmwhomowesmfiduciarymdutiesmtomthe mprincipal
D) The mrelationshipmthatmexistsmwhenmonempersonmismauthorizedmtomactmformandmonmbehalf mofmanotherm-
m answer-
A) mLiterallymthemagentmofmanmagent,mampersonmdesignatedmormemployedmbymanmagentmtomperformmallmormp
artmof mthe magent'smassignedmtasksmormservicesmonmbehalf mofmthe magent'smprincipal
Whichmof mthe mfollowingmstatementsmismTRUEmregardingmagencymagreements?
A) Listingmagreements,mpropertymmanagementmagreements,mbuyermagencymagreements,mandmten
antmrepresentationmagreementsmcanmallmbe mexpressmoralmagreementsmformamperiodmofmtime.
B) Listingmagreementsmandmpropertymmanagementmagreementsmmustmbemexpressmwrittenmagreementsmfr
ommthe mbeginningmofmthe mrelationshipmandmbuyermagencymagreementsmandmtenantmrepresentationmagre
ementsmcanmbe minmexpressmoralmagreementsmformamperiodmofmtime.
C) Listingmagreementsmandmbuyermagencymagreementsmmustmbe mexpressmwrittenmagreementsmfrom
m the m beginningmof mthemrelationship m andmproperty mmanagementm agreementsmandm tenantm represen
tationmagreementsmcanmbe mexpressmoralmagreementsmformamperiodmofmtime.
D) Listingmagreementsmandmpropertymmanagementmagreementsmcanmexpressmoralmagreementsmformampe
riodmofmtime mandmbuyermagencymagreementsmandmtenantmrepresentationmagreementsmmustmbe minmex m-
m answer-
B) mListingmagreementsmandmpropertymmanagementmagreementsmmustmbemexpressmwrittenmagreementsm
frommthe mbeginningmof mthemrelationshipmandmbuyermagencymagreementsmandmtenantmrepresentationmag
reementsmcanmbe minmexpressmoralmagreementsmformamperiodmof mtime.
Whichmof mthe mfollowingmstatementsmBESTmdescribesmNorthmCarolinamUnfairmDeceptive mPracticesmAct?
A) Thismlawmprohibitsmdisclosure mregardingmfactsmaboutmthe mpropertymitself mormthe msurroundingmarea.
B) Thismlawmprohibitsmunfairmormdeceptivemactsmormpracticesminmcommercemandmappliesmtomthemsalemorm
rentalmof mrealmestate mandmtomrealmestate mbrokers.
C) Thismlawmholdsmthat—exceptminmcasesminvolvingmfraudmbymthe msellermormthe mseller'smagent—
the msellermhasmnomaffirmative mobligationmtomdiscloseminformationmaboutmthempropertymbeingmsoldmtomth
e mpurchasermandmplacesmthemburdenmonmthe mbuyermtominvestigate mthe mpropertymbeforemcontractingmtomp
urchase mthe mproperty.
D) Thismlawmprohibitsmmakingmgeneralizedmexpressionmofmambroker'smopinionmaboutmamproperty.m-
m answer-
B) mThismlawmprohibitsmunfairmormdeceptive mactsmormpracticesminmcommerce mandmappliesmtomthemsalemorm
rentalmof mrealmestate mandmtomrealmestate mbrokers.
, Georgemknowsmthatmthempropertymismaboutmtombe mrezonedmformcommercialmuse,mwhichmwillmgreatlyminc
rease mthemvaluemofmthemproperty.mGeorgemdoesmnotmsharemthisminformationmwithmthemsellermandmoffers
m tom buy m them propertym form himselfm asm anm investment.mGeorgem closesmonm them propertym withm them sellerm a
ndmthenmaftermthe mrezoningmhasmbeenmfinalized,mGeorge msellsmthe mpropertymatmamsubstantialmprofit.mTh
ismismanmexample mof
A) self-dealing.
B) makingmfalse mpromises.
C) undisclosedmdualmagency.
D) impropermdealing.m-manswer-A) mself-dealing.
Lanzomisminmthemprocessmof mlistingmamhousemformsale mandmtellsmthemsellermthatmhe mwillmstage mthemhouse,m
steammcleanmthemcarpets,mandmhire mamprofessionalmcleaningmcrewmtomcleanmpriormtomshowingmthemhouse
.mOnce mthemsellermsignedmthe mlistingmagreement,mLanzomfailedmtomprovide mthese mservices.mLanzommaymbe
m guilty m of m whichm of m the m following?
A) Makingmfalse mpromises
B) Undisclosedmdualmagency
C) Self-dealing
D) Impropermbrokerage mcommissionm-manswer-A) mMakingmfalse mpromises
Whomismrequiredmtomdisclose mmaterialmfacts?
A) Sellersmandmlistingmagents
B) Sellersmandmbuyers
C) Listingmagentsmandmsellingmagents
D) Sellers,mbuyers,mlistingmagents,mandmsellingmagentsm-manswer-C) mListingmagentsmandmsellingmagents
Francismlistedmampropertymformsale mandmdidmnotminvestigatemthe mpropertymformmaterialmfactsmbecausemhe m
reliedmonmthemseller'smstatementmthatmtheremwasmnothingmwrongmwithmthemproperty.mItmwasmlatermdiscov
eredmthatmtheremwasmamsubstantialmleakminmthemroof mthatmwasmeasilymdetectable.mInmthismsituation,mFranci
smcouldmbe mheldmliable mformwhichmof mthe mfollowing?
A) The msellermwillmbe mheldmresponsible mandmFrancismhasmnomliability
B) Negligentmmisrepresentationmormomission.
C) Willfulmmisrepresentationmormomission.
