Real Estate BUNDLED Exam Questions and Answers verified by Experts | Latest Updated 2023

Which of these activities requires a real estate license in North Carolina? Offering to help another person sell their real estate in exchange for compensation. Which of these tasks may the unlicensed employees at ABC Brokerage perform? Call a client to schedule an appointment with a licensee. B...

broker acts as an agent who negotiates the sale, purchase, or rental of property on behalf of others for a fee or commission chattel items of personal property (and are therefore movable) real property the land, everything that is permanenty attached to the land, and everything that is appurtena...

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 A. Machinery Act This act provides a framework for listing, appraising, and assessing real and personal property Which type of valuation technique ap...

When did it become mandatory to have a license to do real estate? July 1, 1957 Who issues licenses? NC real estate commission Do you have to be licensed to get paid for referrals? Yes, you must have an active license Brokerage activities requiring a license 1. Listing/offering to list real estate...

Activities Requiring a License Persons AND business entities, who for CONSIDERATION or the promise thereof perform BROKERAGE ACTIVITIES as an agent FOR OTHERS are considered to be performing brokerage activities and must have a license. Referrals for compensation Requires an active license Selli...

Makeup of Commission Consists of nine members - 7 appointed by governor; one by Speaker of the House; one by President Pro-Tem of the Senate; 3 must be brokers in the real estate business; 2 cannot be involved directly or indirectly in the real estate business; serve 3 year staggered terms 6 pow...

Which of the following statements is true regarding Ad Valorem taxation in North Carolina? 1. Real property is taxed according to its most recent sale price. 2. The Machinery Act requires reassessment tax purposes every 4 years. 3. Real property taxes and special assessments constitute an involun...