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NC Real Estate Certification Mock Exam Question and Answers [100% Correct] 2025 Latest Release!! £7.39
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NC Real Estate Certification Mock Exam Question and Answers [100% Correct] 2025 Latest Release!!

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NC Real Estate Certification Mock Exam Question and Answers [100% Correct] 2025 Latest Release!! What is required for a real estate broker to earn a commission in North Carolina? A) A signed contract B) A buyer’s loan approval C) A buyer’s down payment D) A listing agreement...

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  • December 8, 2024
  • 23
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • nc real estate certification mock exam question a

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  • Real Estate
  • Real Estate

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NC Real Estate Certification Mock Exam
Question and Answers [100% Correct]
2025 Latest Release!!
What is required for a real estate broker to earn a commission in North Carolina?

A) A signed contract

B) A buyer’s loan approval

C) A buyer’s down payment

D) A listing agreement

A) A signed contract



Which of the following is an example of a fiduciary duty that a real estate agent owes to a client?

A) Determining the property’s appraisal value

B) Offering investment advice

C) Acting in the best interest of the client

D) Providing legal counsel

C) Acting in the best interest of the client



A broker who is affiliated with a real estate firm is working under which type of agency?

A) Independent agency

B) Dual agency

C) Subagency

D) General agency

D) General agency



In North Carolina, the seller's disclosure form is required to be provided to the buyer:

A) Before signing a purchase agreement

B) At the time of the closing

1

,C) After the home inspection

D) After the property appraiser visits the site

A) Before signing a purchase agreement



What action must a real estate broker take if they are involved in a conflict of interest?

A) Ignore the conflict and proceed with the transaction

B) Disclose the conflict to all parties involved

C) Withdraw from the transaction entirely

D) Report the conflict to the National Association of Realtors

B) Disclose the conflict to all parties involved



Which of the following is a requirement for a property to be legally transferred in North Carolina?

A) A deed must be recorded in the county where the property is located

B) The property must be inspected

C) The buyer must secure a mortgage loan

D) The seller must provide a home warranty

A) A deed must be recorded in the county where the property is located



Which type of listing agreement allows the seller to work with multiple agents but only pays commission
to the agent who brings a buyer?

A) Exclusive agency listing

B) Exclusive right to sell listing

C) Open listing

D) Net listing

C) Open listing



Which of the following does the North Carolina Real Estate Commission have the authority to do?



A) Create new real estate laws

2

, B) Enforce ethical standards and licensing requirements

C) Negotiate real estate commissions

D) Appraise properties

B) Enforce ethical standards and licensing requirements



What happens if a North Carolina real estate licensee fails to complete the required continuing
education?

A) They must pay a fine

B) Their license is automatically renewed with no issues

C) They could face suspension or revocation of their license

D) They can still work but will be ineligible for commission

C) They could face suspension or revocation of their license



What is the most common type of ownership for real estate in North Carolina?

A) Sole proprietorship

B) Joint tenancy

C) Cooperative ownership

D) Tenancy in common

D) Tenancy in common



When must an agent disclose that they are representing both the buyer and the seller in a transaction?

A) Before the closing

B) When the agent signs the purchase agreement

C) At the first point of contact with either party

D) Only if requested by the buyer or seller

C) At the first point of contact with either party



Which of the following is required in order for a North Carolina real estate transaction to be valid?

A) An agent must be present at the closing

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