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NC Real Estate Exam Questions with 100% Correct Answers (A+ Rated) individuals? - Answer-Broker Broker Alice is struggling to drum up interest in her listing. When she finally gets a nibble from a prospective buyer, she does her best to portray the property in a positive light. For example, she assures the buyer that he can add a garage to the property, although she doesn't investigate the matter. The transaction closes, and the new owner discovers that the zoning won't allow the additio...

NC Real Estate Exam Questions with Complete Solutions Latest Update A licensee has just been convicted of a driving while impaired (DWI). According to GS93A, reporting to the North Carolina Real Estate Commission must happen when? - Answer-must be within 60 days of conviction or pleading guilty. A change of business location must be reported to the North Carolina Real Estate Commission within - Answer-10 Days What is the requirement for retaining copies of all contracts and documentatio...

NC Real Estate Exam Questions with Complete Solutions Rated A+ Building Codes - Answer-NC requirements as to construction standards, with the primary purpose being safety Flood Hazard Area - Answer-Areas designated by FEMA as being prone to flooding. Historic Preservation Zoning - Answer-A zone created to preserve historic buildings and sites that are irreplaceable. FEMA - Answer-Agency responsible for designating flood hazared areas bordering rivers and streams Spot Zoning - Answ...

NC Real Estate Exam Questions with Verified Answers (Latest) TENANTS IN COMMON - Answer-No survivorship. Other tenants assume your share of the property. Tenants can also sell their share without consent of the other person TENANCY BY THE ENTIRETY; when does it dissolve? - Answer-It dissolves by DIVORCE. (Divorce and legal separation are not the same thing) JOINT TENANTS (most important aspect?) - Answer-SURVIVORSHIP; survivorship for unmarried people. Must buy at the same time, and usu...

NC Real Estate Exam Questions and Answers Which type of valuation technique applies a standard percentage increase or decrease to all property in a specified location? A. Valuation B. County appraisal C. Mass appraisal D. There is no such appraisal - Answer-C. Mass Appraisal This is a valuation technique that is sometimes used for tax assessment purposes. It is also referred to as a horizontal adjustment. What is am octennial reappraisal? A. Grouping reappraisals by square fo...

NC Real Estate Exam Review- Study Guide Questions and Answers Obedience and Loyalty - Answer-must comply with all lawful instructions that are consistent with the agency agreement must put client interest above your own Soliciting Listings - Answer-DO NOT CALL cannot "cold" call expired listings of another broker/firm Fine is up to $11,000 per call (federal) and up to $500 per call through the state attorney general Written agency agreements - Answer-must be for a stated defi...

NC Real Estate Exam State Portion Questions and Answers Which of the following is INCORRECT about the post licensing requirement of a provisional broker? A: the due date of the post licensing education is the anniversary date of licensure B: post licensing consists of three 30 hour courses which may be taken in any order and must be completed within 3 years of the date of licensure C: post licensing courses end on June 10th and must be completed for the provisional broker to renew their li...

NC Real Estate Exam- State Portion Questions and Answers 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 What kind of license do I need? - Answer-There is only one "t...

NC Real Estate Exam Study Guide Questions and Answers How many members are there in the commission? - Answer-9 members Who appoints members to the NC real estate commission? - Answer-7 appointed by Governor 1 by general assembly upon recommendation of President pro tempore of Senate 1 by general assembly upon recommendation of speaker of house of representatives How many members of the commission must be licensed real estate brokers? - Answer-3 How many members of the commission must...

NC Real Estate License Law & Real Estate Commission Rules Exam Questions with Correct Answers (100% Pass) Describe the NC Real Estate Commission membership/board - Answer-• 9 members. 7 are appointed by the Governor. 2 appointed by the General Assembly based on recommendations of the Senate and the House, respectively. • At least 3 must be licensed brokers. 2 must have no affiliation with real estate. • Terms are staggered every 3 years, so 3 expire one year, 3 the second year, 3 th...

NC Real Estate Midterm Review Exam Questions with Complete Solutions What are three estates of inheritance - Answer-fee simple absolute, fee simple defeasible (fee simple determinable, fee simple subject to condition subsequent), estate pur autre vie. Fee simple absolute - Answer-no limitations; highest form of ownership fee simple defeasible (2 types) - Answer-may be lost on occurence of spedified event; obey deed restrictions. Fee simple determinable requires activity or land use to c...

NC Real Estate Practice Exam Questions and Answers (100% Pass) All these freehold estates can pass by inheritance EXCEPT a......... - Answer-Conventional life estate Deed that contains no warranties at all and may convey no title at all, depending on the Grantors interest in the property when the deed is execute? - Answer-Quitclaim Deed The NC law that provides a contract to sell land is not protected against third party unless recorded is called the .......... - Answer-Conner Act Th...

NC Real Estate Pre-License Unit 1 Quiz Questions with 100% Correct Answers Which of the following is NOT an economic characteristic of real estate? -Indestructibility -Scarcity -Permanence of Improvement -Location - Answer-Indestructibility Which of the following physical and economic factors would a land developer take into consideration when determining the optimum use of a parcel of land? -Transportation -Available natural resources -Contour and elevation -All of these - ...

NC Real Estate Terms Exam Questions with Correct Answers 2024 Requirements for Licensure (Full broker) - Answer-1) Complete 3 separate 30 hour Post-Licensing classes (90 total hours) in order to remove your provisional status. 2) Must have all the classes completed and pass the class exam. Post licensing classes DO NOT count as: - Answer-Continued Education If an agent doesn't complete their continued education by every June 10th what happens? - Answer-The agent becomes inactive Y...

NC Real Estate Unit 1 Exam Questions with Complete Answers heterogeneity - Answer-state of being dissimilar, composition from unlike elements Highest and Best Use - Answer-The possible use of a property that would produce the greatest net income and thereby develop the highest value. land - Answer-the earths surface extending downward to the center of the earth and infinitely into space, including all things permanentley attached market - Answer-A place where goods can be bought and ...

NC Real Estate Unit 2 Exam Questions and Answers common elements - Answer-Parts of a property that are necessary or convenient to the existence, maintenance, and safety of a condominium or are normally in common use by all of the condominium residents. Each condominium owner has an undivided ownership interest in the common elements. common interest community - Answer-individual unit owner pays property tax, insurance premiums, maintenance or improvement on some declared real property owne...

NC State portion study Real Estate Exam Questions with Verified Answer (Definite Pass) What terminates tenancy by the entirety? divorce partition legal separation divorce decree in register of deeds incapacitated bankruptcy one wants to sell their interest - Answer-Divorce- Upon divorce, tenancy by the entirety is terminated because the condition of marriage no longer exists. The terms of the divorce will dictate what happens to the property. Joint Conveyance- Husband and wife...

North Carolina Real Estate (State Only Exam Review) decided to seek opportunities to supplement his retirement income by responding to an advertisement to become a timeshare salesman. John is told by the developer no license is required to sell a timeshare as he will be paid a flat fee for each timeshare sold is the developer correct? 1. No. In order to sell time shares an individual will need to obtain a timeshare sales license. 2. No. In order to sell timeshares an individual will need ...

North Carolina Real Estate Exam Prep Basic, Ownership Interests, Encumbrances, Property Description Exam with Correct Answers Qualified Fee - Answer-aka FEE SIMPLE DEFEASIBLE This term was on practice test and didn't recognize! (you have to qualify to keep title) Estates NOT of Inheritance - 2 categories - Answer-1. Covnentional Life Estate (Life Tenant's ownership ends at his/her death). Then reverts back to grantor or grantor's heirs. 2. Martial Life Estate (abolished in NC - N...

Real Estate Exam - State Portion - NC - Study Cards Questions and Answers The NCREC has no power to put a licensee in jail. Only courts have this power. - Answer-True The NC court system can prosecute you for violation of G.S.93A. - Answer-True The NCREC has the power to revoke a real estate license only not the court system. - Answer-True The NCREC can not give licensees advice on the validity of a contract. The NCREC does not practice law - Answer-True The NCREC will NOT help a ...