301 NC Post-licensing Questions And
Answers
Armin, a broker affiliated with Best Homes Realty, listed a property for sale and conducted an
open house. Courtney visited the open house and decided to make an offer. The seller had
completed the Residential Property and Owners' Association Discl...
A) Literally the agent of an agent, a person designated or employed by an agent to perform all or
part of the agent's assigned tasks or services on behalf of the agent's principal
B) The person who authorizes another to act on the principal's behalf within specified parameters
and to whom the agent owes certain legal duties
C) The person acting for and on behalf of the principal within the bounds of the authority granted
and who owes fiduciary duties to the principal
D) The relationship that exists when one person is authorized to act for and on behalf of another
A) Literally the agent of an agent, a person designated or employed by an agent to
perform all or part of the agent's assigned tasks or services on behalf of the agent's principal
Which of the following statements is TRUE regarding agency agreements?
A) Listing agreements, property management agreements, buyer agency agreements, and tenant
representation agreements can all be express oral agreements for a period of time.
, 301 NC Post-licensing Questions And
Answers
B) Listing agreements and property management agreements must be express written agreements
from the beginning of the relationship and buyer agency agreements and tenant representation
agreements can be in express oral agreements for a period of time.
C) Listing agreements and buyer agency agreements must be express written agreements from
the beginning of the relationship and property management agreements and tenant representation
agreements can be express oral agreements for a period of time.
D) Listing agreements and property management agreements can express oral agreements for a
period of time and buyer agency agreements and tenant representation agreements must be in ex
B) Listing agreements and property management agreements must be express written
agreements from the beginning of the relationship and buyer agency agreements and tenant
representation agreements can be in express oral agreements for a period of time.
Which of the following statements BEST describes North Carolina Unfair Deceptive Practices
Act?
A) This law prohibits disclosure regarding facts about the property itself or the surrounding area.
B) This law prohibits unfair or deceptive acts or practices in commerce and applies to the sale or
rental of real estate and to real estate brokers.
C) This law holds that—except in cases involving fraud by the seller or the seller's agent—the
seller has no affirmative obligation to disclose information about the property being sold to the
purchaser and places the burden on the buyer to investigate the property before contracting to
purchase the property.
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