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303 NC POST LICENSING EXAM 2024 ACTUAL EXAM COMPLETE ACCURATE EXAM QUESTIONS WITH DETAILED VERIFIED ANSWERS BEST AND NEWEST ACTUAL EXAM /GRADED A+$15.89
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303 NC POST LICENSING EXAM 2024
ACTUAL EXAM COMPLETE
ACCURATE EXAM QUESTIONS WITH
DETAILED VERIFIED ANSWERS BEST
AND NEWEST ACTUAL EXAM
/GRADED A+
A fixed rent is also known as a gross lease and is
typically used when dealing with? -
....ANSWER...Residential property
When it comes to actual eviction, the only way to
regain possession is through a.. -
....ANSWER...judicial legal process
A landlord gets a right to hearing within how many
days - ....ANSWER...A landlord gets a right to hearing
within 7 days
,A writ must be issued to the sheriff within -
....ANSWER...5 days of the hearing.
A landlord must hold the personal property of a
tenant for.. - ....ANSWER...7 days if the property is
worth over $500, and 5 days if it is valued under
$500.
A tenant has a ____ month defense to an eviction
when they have asserted a legal right. -
....ANSWER...12 month
1. Helmets and automobile airbags work because
the Licensee must report all changes of address to
real estate commission within how many days? -
....ANSWER...Within 10 days.
Licensee must report all of the following to the
commission within 60 days of the conviction,
judgement, order, or adjudication.. - ....ANSWER...-
Felony or misdemeanor convictions
- Disciplinary actions against other professional
licenses
- Revocation or suspension of a notorial
commission.
,Provisional brokers who are not affiliated are
considered - ....ANSWER...Inactive
Full broker may either - ....ANSWER...- Affiliate with
a BIC/Firm
- Activate as a Sole Proprietor
If full broker is not affiliated with a BIC they CANNOT:
- ....ANSWER...- Maintain a trust account for others
- Hire/Supervise other brokers
- Offer services, advertise, or market in any way
An individual can be the BIC of more than one firm,
only if? - ....ANSWER...Only if the firms are at the
same physical office location.
Provisional broker can only affiliate with more than
one BIC if, - ....ANSWER...they have mutual
consent/permission of both BICs
When should a provisional broker deliver monies to
BIC? - ....ANSWER...Immediately
, All deposits must be made to the trust account
within.. - ....ANSWER...3 banking days of receipt or
contract acceptance, whichever is later.
Trust accounts may earn interest so long as, -
....ANSWER...The broker has written consent of the
client and a written agreement specifies who gets
the interest.
BICs may transfer earnest money for closing no
more than - ....ANSWER...10 days prior to settlement
Trust accounts must be balanced every: -
....ANSWER...Every 30 days
Trust account records must be maintained for -
....ANSWER...3 years
Sole Proprietorship - ....ANSWER...No creation of an
entity but may operate under a trade name.
Personally liable for all debts and liabilities.
Income taxed as regular income, no shelter of tax
liability.
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