100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
NC Real Estate Exam Questions with Correct Answers 100% Pass $12.49   Add to cart

Exam (elaborations)

NC Real Estate Exam Questions with Correct Answers 100% Pass

 2 views  0 purchase
  • Course
  • Prep Tests
  • Institution
  • Prep Tests

NC Real Estate Exam Questions with Correct Answers 100% Pass 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 - ANSWER-A. Machinery Act This act provides a framework for listing, appraising, and a...

[Show more]

Preview 3 out of 24  pages

  • November 13, 2024
  • 24
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • Prep Tests
  • Prep Tests
avatar-seller
EmilyCharlene
NC Real Estate Exam Questions with
Correct Answers 100% Pass

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 - ANSWER✔✔-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
Copyright ©EMILYCHARLENE2025. ALL RIGHTS RESERVED
Page 1/24

,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 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 - ANSWER✔✔-B. The statutory reappraisal of all real property in

North Carolina for tax purposes.




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
Copyright ©EMILYCHARLENE2025. ALL RIGHTS RESERVED
Page 2/24

, B. Housing and Urban Development


C. North Carolina Real Estate Commission (NCREC)


D. County Clerks Office - ANSWER✔✔-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 - ANSWER✔✔-B) Mechanic's lien




This type of lien is typically used to guarantee of payment to builders, contractors, and

construction firms




Copyright ©EMILYCHARLENE2025. ALL RIGHTS RESERVED
Page 3/24

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

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

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

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 EmilyCharlene. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $12.49. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

72042 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$12.49
  • (0)
  Add to cart