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NC Post Licensing 303 Questions and Answers Already Passed CA$14.43   Add to cart
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NC Post Licensing 303 Questions and Answers Already Passed
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NC Post Licensing 303 Questions and Answers Already Passed What must a broker do if they are changing their office location? Notify the North Carolina Real Estate Commission of the new address. What is the minimum time period for which a broker must retain copies of transaction records? ...

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  • September 6, 2024
  • 13
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • nc post licensing 303 questions and answers alrea

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  • NC Post Licensing 303
  • NC Post Licensing 303

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NC Post Licensing 303 Questions and
Answers Already Passed
What must a broker do if they are changing their office location?


✔✔ Notify the North Carolina Real Estate Commission of the new address.




What is the minimum time period for which a broker must retain copies of transaction records?


✔✔ Three years.




How should a broker handle earnest money deposits in North Carolina?


✔✔ Deposit them into a trust or escrow account as soon as possible.




What should a broker-in-charge do if they suspect another agent is violating real estate laws?


✔✔ Report the suspected violation to the North Carolina Real Estate Commission.




What type of agreement is required for a real estate transaction to be legally enforceable?


✔✔ A written agreement signed by all parties involved.




1

, When must a broker disclose their agency relationship to clients?


✔✔ At the first substantive discussion about a property.




What action must be taken if a broker receives an offer to purchase a property?


✔✔ Present the offer to the seller without delay.




What is required for a property management agreement to be valid in North Carolina?


✔✔ It must outline the duties and fees of the property manager clearly.




What should be included in a broker’s disclosure of dual agency?


✔✔ The broker must inform both parties in writing of the dual agency relationship.




What is the role of a property manager when a tenant requests repairs?


✔✔ Address and arrange for the repairs in a timely manner, and document the request and

resolution.




What must a broker do if they receive a complaint from a client?




2

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