NC REAL ESTATE EXAM- STATE PORTION QUESTIONS AND ANSWERS 2025
Activities Requiring a License - (ANSWER)Persons AND business entities, who for CONSIDERATION or the
promise thereof perform BROKERAGE ACTIVITIES as an agent FOR OTHERS are considered to be
performing brokerage activities and must have a license.
Referrals for compensation - (ANSWER)Requires an active license
Selling time shares - (ANSWER)Requires an active license
Advertising - (ANSWER)In ANY manner (to include a business card), requires an active license
Business Entities/Firm License - (ANSWER)ANY corporation, partnership, Limited Liability Company,
association or other business entity (other than a sole proprietorship) MUST obtain a separate (firm)
license.
Exempt Activities - (ANSWER)-Business entity
-Attorney in Fact
-Attorney at Law
-Receiver/Trustee
-Salaried Employees of Broker-Property Managers
-Owner
-Housing Authority
-Auctioneer (the mere "crier" of a sale is exempt
Permitted Activities of Unlicensed Assistants - (ANSWER)-SHOW "rental" properties managed by the
employee's empoying broker to prospective tenants
-COMPLETE and execute pre-printed form leases for rental of such properties
-TYPE offers, contracts & leases from drafts of pre-printed forms completed by a licensee.
-MAY act as a bookkeeper for the firm's Trust Account
, NC REAL ESTATE EXAM- STATE PORTION QUESTIONS AND ANSWERS 2025
What kind of license do I need? - (ANSWER)There is only one "type" of license in NC, a broker license;
however, there are several license categories.
Broker - (ANSWER)A provisional broker who satisfied all postlicense education requirements to
terminate the provisional status of such license becomes a broker.
-May accept commissions from parties OTHER that the BIC
-May operate independently as a sole proprietor or under supervision of BIC
Provisional Broker - (ANSWER)"Entry level" status category- a person who has met all license
qualification requirements
-Issued in INACTIVE status and MUST be activated by BIC, may NOT operate independently
-Must be supervised by BIC when performing any act for which a real estate license is required
Limited Nonresident Commercial Broker - (ANSWER)A broker residing in a state OTHER than NC who
holds an active broker license in the state in where their primary place of real estate business is located
-Entitled to engage in transactions for compensation involving "commercial" real estate in NC
-MUST enter into a "declaration of affiliation" & a "brokerage compensation agreement" with a resident
NC broker NOT on provisional status
-Visiting broker MUST be supervised by NC broker
Active License - (ANSWER)The licensee holds a current (properly renewed) license AND has completed
any required continuing ed as well as any required post licensing ed. A provisional broker must also have
a BIC (whose license is current and active).
A real estate licensee obtains their real estate license in October. When will they first need 8 hours of
continuing ed?
Activities Requiring a License - (ANSWER)Persons AND business entities, who for CONSIDERATION or the
promise thereof perform BROKERAGE ACTIVITIES as an agent FOR OTHERS are considered to be
performing brokerage activities and must have a license.
Referrals for compensation - (ANSWER)Requires an active license
Selling time shares - (ANSWER)Requires an active license
Advertising - (ANSWER)In ANY manner (to include a business card), requires an active license
Business Entities/Firm License - (ANSWER)ANY corporation, partnership, Limited Liability Company,
association or other business entity (other than a sole proprietorship) MUST obtain a separate (firm)
license.
Exempt Activities - (ANSWER)-Business entity
-Attorney in Fact
-Attorney at Law
-Receiver/Trustee
-Salaried Employees of Broker-Property Managers
-Owner
-Housing Authority
-Auctioneer (the mere "crier" of a sale is exempt
Permitted Activities of Unlicensed Assistants - (ANSWER)-SHOW "rental" properties managed by the
employee's empoying broker to prospective tenants
-COMPLETE and execute pre-printed form leases for rental of such properties
-TYPE offers, contracts & leases from drafts of pre-printed forms completed by a licensee.
-MAY act as a bookkeeper for the firm's Trust Account
, NC REAL ESTATE EXAM- STATE PORTION QUESTIONS AND ANSWERS 2025
What kind of license do I need? - (ANSWER)There is only one "type" of license in NC, a broker license;
however, there are several license categories.
Broker - (ANSWER)A provisional broker who satisfied all postlicense education requirements to
terminate the provisional status of such license becomes a broker.
-May accept commissions from parties OTHER that the BIC
-May operate independently as a sole proprietor or under supervision of BIC
Provisional Broker - (ANSWER)"Entry level" status category- a person who has met all license
qualification requirements
-Issued in INACTIVE status and MUST be activated by BIC, may NOT operate independently
-Must be supervised by BIC when performing any act for which a real estate license is required
Limited Nonresident Commercial Broker - (ANSWER)A broker residing in a state OTHER than NC who
holds an active broker license in the state in where their primary place of real estate business is located
-Entitled to engage in transactions for compensation involving "commercial" real estate in NC
-MUST enter into a "declaration of affiliation" & a "brokerage compensation agreement" with a resident
NC broker NOT on provisional status
-Visiting broker MUST be supervised by NC broker
Active License - (ANSWER)The licensee holds a current (properly renewed) license AND has completed
any required continuing ed as well as any required post licensing ed. A provisional broker must also have
a BIC (whose license is current and active).
A real estate licensee obtains their real estate license in October. When will they first need 8 hours of
continuing ed?
