Nc post licensing 303 Study guides, Class notes & Summaries

In NC, active RE license is required when: - ANSWER When assisting another broker for compensation in the providing of brokerage services. When can an unlicensed person engage in real estate activity? - ANSWER - Their own property - Attorney in fact - Attorney at law - Court-ordered sales - Trustees in foreclosure - Housing authorities

Commercial purchase contract - Answer-vary widely, inspections or due diligent are key, no standard contract Commercial Due Diligence - Answer-Free look, no risk, determined by buyer and seller BPO-Broker Price Opinion Analysis - Answer-Contains a market analysis and derives value from capitalization rates Capitalization formula - Answer-I/R*V Value=NOI/Rate Potential Gross Income - Answer-Vacancy Collection losses Additional income Effective gross income - Answer-Operating expe...

Four License Statuses - ANSWER PB, Full Broker, BIC Eligible, BIC Must always affiliate with a broker-in-charge (BIC) in order to have an active license. - ANSWER Provisional Broker May be supervised by two BICs if the BICs are with two different firms and in the same location and acting as co-listing or co-selling agents. - ANSWER Can a provisional broker have 2 BICS? Requirements for an active license (PB) - ANSWER Timely completion of postlicensure and CE, Renewing license on of befo...

NC Post Licensing 303 exam with verified answers

303 NC POST LICENSING EXAM 2024 WITH ACTUAL CORRECT QUESTIONS AND VERIFIED DETAILED ANSWERS |FREQUENTLY TESTED QUESTIONS AND SOLUTIONS |ALREADY GRADED A+|NEWEST|GUARANTEED PASS|LATEST UPDATE

A Licensee may not earn compensation when there license - VIP - ANSWER is INACTIVE or EXPIRED A Licensee can receive compensation that was earned WHEN - VIPterm-0 - ANSWER the license was current and active even if inactive of expired after A BIC may NOT pay a licensee's ENTITY - ANSWER unless the entity has a firm license. A Licensee can share commission with parties BUT - ANSWER 1) Must be in writing - as part of the agreement 2) Must be subject to Lender Approval in case of loans...

Commercial purchase contract - ANSWERSvary widely, inspections or due diligent are key, no standard contract Commercial Due Diligence - ANSWERSFree look, no risk, determined by buyer and seller BPO-Broker Price Opinion Analysis - ANSWERSContains a market analysis and derives value from capitalization rates Capitalization formula - ANSWERSI/R*V Value=NOI/Rate Potential Gross Income - ANSWERSVacancy Collection losses Additional income Effective gross income - ANSWERSOperating expe...

303 NC POST LICENSING EXAM NEWEST 2024 ACTUAL EXAM//NC Post-Licensing 303 In NC, active RE license is required when: - CORRECT ANSWWhen assisting another broker for compensation in the providing of brokerage services. When can an unlicensed person engage in real estate activity? - CORRECT ANSW-- Their own property - Attorney in fact - Attorney at law - Court-ordered sales - Trustees in foreclosure - Housing authorities "Power of attorney" exemption exists to allow: - CORRE...

303 NC POST LICENSING EXAM NEWEST 2024 ACTUAL EXAM//NC Post-Licensing 303 In NC, active RE license is required when: - CORRECT ANSWWhen assisting another broker for compensation in the providing of brokerage services. When can an unlicensed person engage in real estate activity? - CORRECT ANSW-- Their own property - Attorney in fact - Attorney at law - Court-ordered sales - Trustees in foreclosure - Housing authorities "Power of attorney" exemption exists to allow: - CORRE...