Post Licensing 303 Questions and Answers 100% Pass
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Course
Post Licensing 303
Institution
Post Licensing 303
Post Licensing 303 Questions and
Answers 100% Pass
What should a broker do if they notice discrepancies in a client’s financial documents during a
transaction?
Notify the client immediately and work to resolve the discrepancies before proceeding.
What is required for a property mana...
Post Licensing 303 Questions and
Answers 100% Pass
What should a broker do if they notice discrepancies in a client’s financial documents during a
transaction?
✔✔ Notify the client immediately and work to resolve the discrepancies before proceeding.
What is required for a property management agreement to be enforceable?
✔✔ It must be in writing and include details about the property, management duties, and fees.
How often must a broker update their trust account records?
✔✔ Regularly, and at least monthly, to ensure accuracy and compliance.
What must a broker disclose if they have a personal interest in a property being sold?
✔✔ The personal interest must be disclosed to all parties involved in the transaction.
What is the proper procedure if a broker needs to withdraw funds from an escrow account?
✔✔ The broker must have proper authorization and documentation to support the withdrawal.
1
,What action should a broker take if they suspect a property is not in compliance with local
zoning laws?
✔✔ Advise the client to consult with a zoning official or legal expert for guidance.
What must a broker do if they receive a complaint from a client about a transaction?
✔✔ Address the complaint professionally, document the details, and report it to the North
Carolina Real Estate Commission if necessary.
What is required for a valid real estate advertisement?
✔✔ It must be truthful and include the broker’s name and contact information.
What should a broker do if they discover that a property has hidden defects after listing it?
✔✔ Disclose the defects to potential buyers and update the property listing as needed.
How should a broker handle an overpayment of funds in a real estate transaction?
✔✔ Refund the excess amount to the appropriate party and document the transaction thoroughly.
2
, What must a broker do if a client requests to cancel their listing agreement?
✔✔ Review the terms of the agreement and obtain written consent from the client to formally
terminate it.
What is required of a broker when conducting a final walkthrough with a buyer?
✔✔ Ensure that the property is in the condition agreed upon in the contract and address any
issues with the seller.
What action should a broker take if they find that a property’s title has unresolved liens?
✔✔ Inform the buyer and recommend that the liens be cleared before closing.
What is the broker’s responsibility regarding property disclosures?
✔✔ Ensure that all known material facts about the property are disclosed to potential buyers.
How should a broker handle a situation where a seller is unresponsive to offers?
✔✔ Document all attempts to communicate and advise the buyer of the seller’s lack of response.
What is the role of a closing agent in the closing process?
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