301 NC POST LICENSING or NC POST LICENSING Exam WITH 300 Questions AND ANSWERS
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Course
301 NC POST LICENSING or NC POST LICENSING 301
Institution
301 NC POST LICENSING Or NC POST LICENSING 301
301 NC POST LICENSING or NC POST
LICENSING Exam WITH
300 Questions AND ANSWERS
Cho, a real estate broker, is out to dinner with a best friend, Jo. Jo did not
want to mix business with friendship and decided to list her house with a
different brokerage firm than Cho's. During dinner, Jo co...
Cho, a real estate broker, is out to dinner with a best friend, Jo. Jo did not
want to mix business with friendship and decided to list her house with a
different brokerage firm than Cho's. During dinner, Jo continues to
complain about what a terrible job her listing firm is doing to get her home
sold. What is Cho's BEST response?
A) I've sold one of their listings before and had some of the same issues.
B) I'm sorry you feel they are not doing a good job. Have you spoken to the
listing agent about your concerns?
C) I've heard they are a terrible company and understand those issues
happen all the time.
D) I'm sorry you feel they are not doing a good job; I would be happy to list
your property. - ANSWER-B) I'm sorry you feel they are not doing a good
job. Have you spoken to the listing agent about your concerns?
Best Homes Realty had a bad experience with Founders Law Firm, one of
the local real estate law firms. The owners of Best Homes Realty got
together with three of the other top real estate firms in the area and spread
,2|Page
the word not to use Founders Law Firm. This would be an example of
which of the following?
A) Unfair competitive practices
B) Blockbusting
C) Price fixing
D) Boycotting - ANSWER-D) Boycotting
Samuel, a real estate broker and REALTOR®, is looking to list some
properties for sale in his neighborhood. He notices that the property across
the street from him is listed for sale with another company. According to the
REALTOR® Code of Ethics, which of the following statements is correct?
A) Samuel can email the seller of that property and solicit their listing
because they live in the same neighborhood.
B) Samuel cannot call the seller to solicit their listing because it could be in
violation of the Do-Not-Call laws and rules.
C) Samuel cannot reach out to the seller because he cannot solicit the
business of a property owner who has an active exclusive listing.
D) Samuel can speak to the seller at a neighborhood party and ask them if
they are interested in listing with his firm. This way he would not be
violating the Do Not Call laws and rules. - ANSWER-C) Samuel cannot
reach out to the seller because he cannot solicit the business of a property
owner who has an active exclusive listing.
,3|Page
The seller's deed will help determine if there are any liens against the
property. - ANSWER-False
The Residential Property Disclosure Act requires a listing agent to provide
the seller with the appropriate disclosure form and to help the seller in
proper completion of the form. - ANSWER-False
Additional duties of the listing agent in connection with the Residential
Property Disclosure Act include all the following EXCEPT
A) assist the seller in assessing the property by gathering property data.
B) explain to the seller that a broker is not required to disclose material
facts about the property if the seller chooses to answer all the questions
"no representation."
C) identify items of possible concern and review with the seller their options
for addressing such items.
D) provide the seller with copies of both Residential Property and Owners'
Association Disclosure Statement and the Mineral and Oil and Gas Rights
Disclosure Statement. - ANSWER-B) explain to the seller that a broker is
not required to disclose material facts about the property if the seller
chooses to answer all the questions "no representation."
, 4|Page
Deidra is meeting with a seller to discuss listing their property for sale. All of
the following will need to be accomplished at this prelisting meeting
EXCEPT
A) inspect the property and verify information.
B) measure the lot to determine square footage.
C) explain agency relationship and company policy/services.
D) assist the seller with various disclosure forms. - ANSWER-B) measure
the lot to determine square footage.
Boris is gathering data at the prelisting meeting regarding the acreage of
the lot. Which of the following statements is TRUE regarding how Boris will
determine the acreage?
A) Boris can obtain the acreage from the seller's deed.
B) Boris needs to hire a surveyor and have the acreage determined.
C) Boris needs to measure the lot and calculate the acreage.
D) Boris needs to ask the seller to hire a surveyor and have the acreage
determined. - ANSWER-A) Boris can obtain the acreage from the seller's
deed.
The North Carolina Real Estate Commission (NCREC) suggests for real
estate agents to do all the following when meeting with the seller EXCEPT
A) remember to meet with the seller in a neutral location.
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