NC Real Estate Exam Questions & Answers Already Graded A+
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Course
NC Real Estate
Institution
NC Real Estate
Which non-profit trade association represents 46 local real estate associations in North
Carolina and provides opportunities and resources that aid the members?
A. North Carolina Association of Real Estate Brokers
B. National Association of Real Estate Brokers
C. The Association of Real Estate ...
NC Real Estate Exam Questions
Which non-profit trade association represents 46 local real estate associations in North
Carolina and provides opportunities and resources that aid the members?
A. North Carolina Association of Real Estate Brokers
B. National Association of Real Estate Brokers
C. The Association of Real Estate License Law Officials
D. The National Association of Realtors - ✔️✔️A) North Carolina Association of
Realtors
What is am octennial reappraisal?
A. Grouping reappraisals by square footage and year built
B. The statutory reappraisal of all real property in North Carolina for tax purposes
C. Reappraisals done in groups of eight
D. None of the above - ✔️✔️B. The statutory reappraisal of all real property in North
Carolina for tax purposes.
Which statute governs the ad valorem taxation of property?
A. Machinery Act
B. General Statute
C. The Ad Valorem Act
D. Real Estate Taxation Act - ✔️✔️A. Machinery Act
This act provides a framework for listing, appraising, and assessing real and personal
property
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 - ✔️✔️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.
This is an octennial reappraisal and requires all counties to reappraise property within in
a specified time period.
, The ______ is responsible for real estate licensing.
A. Federal Real Estate Commission
B. Housing and Urban Development
C. North Carolina Real Estate Commission (NCREC)
D. County Clerks Office - ✔️✔️C. North Carolina Real Estate Commission (NCREC)
This commission is responsible for real estate licensees, education, and other
resources regarding real estate in the state of North Carolina.
Which type of lien provides security to persons that work on real property owned by
others?
A. Mortgage lien
B. Mechanic's lien
C. Real estate tax lien
D. State income tax lien - ✔️✔️B) Mechanic's lien
This type of lien is typically used to guarantee of payment to builders, contractors, and
construction firms
Which of the following is a requirement to become a real estate broker in North
Carolina?
A. 18 years of age
B. 90 hours of real estate courses
C. Payment of an application fee
D. All of the above - ✔️✔️D) All of the above
All of the above are requirements to become a real estate agent in North Carolina. The
real estate courses must be approved and in a classroom setting.
Which type of broker licence status category is "entry level" and requires supervision?
A. Provisional broker
B. Broker in charge
C.Broker
D. There is no such license status category - ✔️✔️A) Provisional broker
This is an entry level license status and only requires 75 hours of pre-licensing
education and passing of the license examination
Which statement is true about the North Carolina Real Estate Commission?
A. There are a not-for-profit firm that manages real estate agents
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