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nc 302 post licensing contracts&closing nc post licensing 302 jj (actual exam)questions,answers 2024 – 2025 $12.99   Add to cart

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nc 302 post licensing contracts&closing nc post licensing 302 jj (actual exam)questions,answers 2024 – 2025

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nc 302 post licensing contracts&closing nc post licensing 302 jj (actual exam)questions,answers 2024 – 2025

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  • September 10, 2024
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nc 302 post licensing contracts&closing nc
post licensing 302 jj (actual
exam)questions,answers 2024 – 2025



NC 302 Postlicensing Contracts & Closings Pg. 216

Working with Addenda

Due Diligence Request & Agreement Form 310-T

1 What is the purpose of this form? - ANSWERS-Parties have agreed to change
due dillegence modifications, repairs, then agreement letter becomes part of the
contract



NC 302 Postlicensing Contracts & Closings Pg. 216

Working with Addenda

Due Diligence Request & Agreement Form 310-T

2 When should this form be completed? - ANSWERS-



NC 302 Postlicensing Contracts & Closings Pg. 198

Working with Addenda

,Due Diligence Request & Agreement Form 310-T

1 What is the purpose of this form? - ANSWERS-



Offer to Purchase and Contract IS THE ONLY CONTRACT THAT IS GOING TO BE ON
THE EXAM - ANSWERS-



NC 302 Postlicensing Contracts & Closings Pg. 224

Integrating the Contractual Handling of Money with Commission Rules

11 Licensees are not permitted to courier or deliver funds relating to any of the
following:

A) The Amendment

B) An Addendum

C) Inspection payments

D) Non-Repair payments - ANSWERS-C) Inspection payments

Not permitted:

Inspection Payments

Repair Payments

Survey Payments

Settlement distribution other than to them or their firm



NC 302 Postlicensing Contracts & Closings Pg. 224

Integrating the Contractual Handling of Money with Commission Rules

,12 Licensees are not permitted to courier or deliver funds relating to any of the
following:

A) Repair payments

B) Bid payments

C) Greenback payments

D) None of the above - ANSWERS-A) Repair payments



Not permitted:

Inspection Payments

Repair Payments

Survey Payments

Settlement distribution other than to them or their firm



NC 302 Postlicensing Contracts & Closings Pg. 216

Due Diligence Request & Agreement Form 310-T - ANSWERS-



NC 302 Postlicensing Contracts & Closings Pg. 224

Integrating the Contractual Handling of Money with Commission Rules

13 Licensees are not permitted to courier or deliver funds relating to any of the
following:

A) Survey Payments

B) Bid payments

, C) Greenback payments

D) Non- Repair payments - ANSWERS-A) Survey Payments

Not permitted:

Inspection Payments

Repair Payments

Survey Payments

Settlement distribution other than to them or their firm



NC 302 Postlicensing Contracts & Closings Pg. 224

Integrating the Contractual Handling of Money with Commission Rules

14 Licensees are not permitted to courier or deliver funds relating to any of the
following:

A)

D) Settlement distribution other than to them or their firm - ANSWERS-D)
Settlement distribution other than to them or their firm



NC 302 Postlicensing Contracts & Closings Pg. 224

Integrating the Contractual Handling of Money with Commission Rules

1 There is no law requiring a residential brokerage to maintain a trust account.

A trust account is only required when a brokerage is holding money - ANSWERS-
Money belonging to another

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