Exam (elaborations)
Post licensing 301 NC study questions with complete verified solutions
- Course
- Institution
Post licensing 301 NC study questions with complete verified solutions
[Show more]
Content preview
Post licensing 301 NC studyquestions with complete
verified solutions 2025-2026
When must a seller's agent or subagent initially disclose agency
status to a buyer? - answer before buyer and buyer's agent discuss
motivation and financial information
seller's subagent - answer no written or oral buyer agency
OLDCAR - answer obedience
loyalty
disclosure
confidentiality
accounting
reasonable care
In dual agency, the agent's duties are _____ to being a facilitator -
answer reduced
What statement would require full disclosure of all financing terms
in compliance with TILA, Reg Z and RESPA - answer any number
amount triggers full disclosure:
4.5% APR or $2000 down
A _____foreclosure is material fact and it must be______. - answer
filed foreclosure; must be disclosed
, If it is not_______, you shouldn't be talking about it. - answer
material fact
T/F AS-IS relieves seller from disclosing material fact - answer F,
AS-IS does not relieve requirement to disclose material fact
name 10 material fact required disclosures - answer stucco, radon,
lead-based paint, filed foreclosure, zoning, flood plains, meth
houses, gravesites, pending highways, asbestos siding
names issues that are not material fact - answer pending
foreclosure, death or illness, murder or suicide, HIV or AIDS,
haunted, aluminum wiring
Who is responsible if known hidden defect is found AFTER closing? -
answer Listing agent
Does filed foreclosure need to be disclosed? - answer Yes, it is a
material fact
In dual agency, the loyalty of the firm is ______between the buyer
and seller? - answer divided equally
In dual agency between clients, the agent's role is _______ to the
contractual benefits of the contract and the agent becomes a _______.
- answer reduced; facilitator
BIB and PB are doing a deal together, can BIC and PB work as
designated agents? - answer No, they must work as a dual agent
when must an agent disclose dual agency in a transaction? - answer
before presentation of the 1st offer
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller BRAINBOOSTERS. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $14.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
79789 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now