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Superior Real Estate School: Study for Retake Pre-Licensing Course Exam Questions and answers with 100% Complete solutions | verified &updated 2024| Graded A+$13.49
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Superior Real Estate School: Study for Retake Pre-Licensing Course Exam Questions and answers with 100% Complete solutions | verified &updated 2024| Graded A+
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Course
Superior
Institution
Superior
Superior Real Estate School: Study for
Retake Pre-Licensing Course Exam
Questions and answers with 100% Complete
solutions | verified &updated 2024| Graded
A+
Superior Real Estate School: Study for
Retake Pre-Licensing Course Exam
Questions and answers with 100% Complete
solutions | verified &updated 2024| Graded
A+
A licensee is an actively licensed real estate broker who has a written contract
with his firm that specifies that he will not be treated like an employee. The
licensee's entire income is from sales commissions rather than an hourly
wage. Based on these facts, the licensee will be treated by the IRS as:
A. a real estate assistant
B. an employee
C. a subagent
D. an independent contractor - ✔✔D. an independent contractor
All of the following are TRUE regarding the North Carolina Working With Real
Estate Agents brochure, EXCEPT:
,A. the consumer is not required to sign the brochure
B. if the first substantial contact is by phone, the brochure must be
provided within 3 calendar days
C. the brochure's use is mandatory in all real estate transactions, including
residential sales, commercial transactions and property management
D. the brochure must be given in all sales transactions at first substantial contact -
✔✔C. the brochure's use is mandatory in all real estate transactions, including
residential sales, commercial transactions and property management
All of the following are exempt from the requirement to provide an RPOADS and
MOG, EXCEPT:
A. Transfers between spouses
B. First sale of a dwelling not yet inhabited
C. Both parties agree not to complete the form
,D. A For Sale by Owner - ✔✔D. A For Sale by Owner
Which of the following statement(s) is/are true?
l. In a breach of a sales contract, the earnest money deposit is considered liquidated
damages. ll. In a breach of a sales contract, liquidated damages are an agreed upon
amount of money the parties agree to accept in the event of breach.
A. l only
B. ll only
C. Both l and ll
D. Neither l nor ll - ✔✔C. Both l and ll
Which of the following document(s) would be covered by the NC Statute
of Frauds?
l. Listing agreement ll. Buyer agency agreement
A. l only
, B. ll only
C. Both l and ll
D. Neither l nor ll - ✔✔D. Neither l nor ll
A man has posted a $100 reward for anyone who returns his missing dog. This is
an example of:
A. a unilateral contract
B. a bilateral contract
C. an implied contract
D. an executed contract - ✔✔A. a unilateral contract
An executory contract is one in which:
A. all of the terms and conditions have been performed
B. there are still essential elements to be performed
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