NC Post-Licensing 302 - Unit Test Questions and Answers 2024/202
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Module
NC 302
Institution
NC 302
In a real estate transaction, which of the following is an example of consideration?
The seller's promise to sell
Your automatic check writer wrote a check for $51.50, but your printer ran out of toner, so
you had to fill in the handwritten line. In a hurry, you accidentally wrote, "Fifty-o...
Rex needs to handle some money he acquired during an "unsavory" business deal. He agrees
to sign his boat over to his colleague, Ben, if Ben can launder the money and return it to Rex
as part of a legal business dealing. What kind of contract do Rex and Ben have?
Void
Which of the following is a legitimate reason to counter an offer?
Price
When a seller's agent receives a written offer from a prospective buyer, how must it be
handled?
It must be submitted promptly to the seller
Which of these sentences accurately lists rules for interpreting a contract?
Typed text takes precedence over pre-printed text, and spelled-out numbers (e.g.
four) take precedence over numerals (e.g. 5)
Zelda received an offer from Matthew for her house on Monday. The offer is set to expire
Wednesday. After a sleepless night on Monday, Matthew told his broker to revoke the offer.
Zelda hadn't accepted the offer as of Tuesday night. What happens to Matthew's offer?
The offer is terminated under contract revocation laws
Kent has received an offer for his house. What is the best solution if there are some offer
terms he's hesitant to accept?
Reject the offer but reply with a form that outlines acceptable conditions
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