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NC Post-Licensing 303 exam questions with answers
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NC Post-Licensing 303 exam questions with answers
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NC Post-Licensing 303 exam questionswith answers
Mary, a woman of color, has filed a fair housing complaint after suspecting her real estate agent
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was only showing her homes in communities that were primarily made up of minorities. After
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completing its investigation, HUD found reasonable cause to believe that discrimination
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occurred. What will happen next? - ANSWER: ➡ HUD will issue a charge of discrimination and
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will notify Mary, the complainant, of its determination.
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How can North Carolina landlords remove tenants who engage in illegal activities like drug
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manufacturing on the premises? - ANSWER: ➡ Send the tenant a notice of immediate lease
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termination
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Which aspect of highest and best use is concerned with land use restrictions and zoning? -
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ANSWER: ➡ Is it legally allowable or permissible?
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In North Carolina, the Vacation Rental Act provides what kind of exception regarding
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compensation for real estate brokerage activities? - ANSWER: ➡ Under this act, a travel agent
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who does not hold an active real estate license may accept a referral fee for referring a tenant to
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a broker for a vacation rental if certain provisions are met.
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Tenant A is leasing commercial property from the landlord. Tenant A then sublets to Tenant B.
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Which of the following parties have a sandwich lease? - ANSWER: ➡ The original tenant and
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the landlord
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Mike relocated for work and learned that the region in which he planned to buy a home had
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many old underground mines. In fact, Mike might even need to purchase mine subsidence
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insurance. What might a home inspector flag for Mike if there are any concerns about
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undermining? - ANSWER: ➡ A sinkhole on the property
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, An underground storage tank has been in place for 15 years. What is its remaining useful life,
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on average? - ANSWER: ➡ Zero years
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Which of the following is described as an area that is protected by the Clean Water Act where
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standing water that supports aquatic plants and animals is located and groundwater is
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filtered? - ANSWER: ➡ Wetland
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Before becoming a broker-in-charge, a North Carolina broker must first apply for _______ with
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the NCREC. - ANSWER: ➡ Eligibility
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Dave is an employee of a housing authority in his North Carolina county. He's been asked to
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lease one of the properties that the housing authority owns to a new tenant. Does Dave need a
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real estate license for this? - ANSWER: ➡ No. Dave qualifies for the housing authority
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exemption wherein an employee is permitted to sell or lease properties that are owned by the
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housing authority.
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It's fine for a personal assistant to answer a buyer's questions related to contract terms if the
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personal assistant ______. - ANSWER: ➡ Is licensed
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Which of the following is NOT a measure a developer must take to prevent sedimentation? -
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ANSWER: ➡ Deep rooting trees along shoreline
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Randall's clients, Carma and Trent, are looking for a mountain cabin. They tell Randall they'll
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pay him a $2,000 finder's fee if he finds the cabin that checks all of their boxes, and they close on
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it. Randall finds a likely candidate that's an FSBO, and negotiations begin. What circumstance
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is required for Randall to receive the finder's fee? - ANSWER: ➡ Carma and Trent must pay the
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finder's fee to Randall's broker
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Which of the following would NOT be considered a violation of license law? - ANSWER: ➡ A
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timeshare salesperson who also has a legal license performing legal services
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