Nc pre licensing exam - Study guides, Class notes & Summaries

NC 75-HOUR BROKER PRE-LICENSING COURSE Exam with Correct Solutions Which account are broker commissions paid from? A) Attorney's escrow account B) Brokers escrow account C) Brokers operations account D) Sellers personal account - Answer -C) Brokers operations account Which of the following are TRUE about CMAs A) A provisional broker may perform a CMA for any party when no fee is charged B) CMA records must be kept for 2 years C) Adjustments are made to the subject property D) ...

NC real estate broker pre-licensing exam Syndication -Answer-Two or more forms joining together as an entity to own real estate Estate in severalty -Answer-Ownership by one individual Concurrent ownership -Answer-Two or more persons share ownership with undivided interests Tenancy in common -Answer-Co-ownership without right of survivorship to other owners Police power -Answer-The broad right of the government to place reasonable restrictions on the use of privately held land Easement -An...

NC 2024- real estate broker pre-licensing Exam Latest Update with Verified Solutions Syndication - Answer -Two or more forms joining together as an entity to own real estate Estate in severalty - Answer -Ownership by one individual Concurrent ownership - Answer -Two or more persons share ownership with undivided interests Tenancy in common - Answer -Co-ownership without right of survivorship to other owners Police power - Answer -The broad right of the government to place reasonable restri...

N.C. Real estate pre-licensing exam with correct answers 100% Real property -Answer-Land & everything that is permanetly attached to the land & everything that is appurtenant to the land Personal property (personalty) -Answer-All propery that doesn't fit the definition of real property. CHATTLES are moveable Land -Answer-The earth's surface extending downwards to the center of the earth & upward to infinity Real estate (realty) -Answer-Land at, above, or below the earth's surface, inc...

N.C. Real estate pre-licensing exam with correct answers 100% Real property -Answer-Land & everything that is permanetly attached to the land & everything that is appurtenant to the land Personal property (personalty) -Answer-All propery that doesn't fit the definition of real property. CHATTLES are moveable Land -Answer-The earth's surface extending downwards to the center of the earth & upward to infinity Real estate (realty) -Answer-Land at, above, or below the earth's surface, inc...

NC real estate broker pre-licensing exam Questions and Answers! Syndication - ANSWER Two or more forms joining together as an entity to own real estate Estate in severalty - ANSWER Ownership by one individual Concurrent ownership - ANSWER Two or more persons share ownership with undivided interests Tenancy in common - ANSWER Co-ownership without right of survivorship to other owners Police power - ANSWER The broad right of the government to place reasonable restrictions on the u...

Bail Bonds Pre-Licensing Exam Questions and Answers What are the 3 areas of bail bond law? Chapter 15A, Article 26 Chapter 58, Article 71 NC Administrative Code If there is a conflict between the areas of bail bond law, what is the order of authority? Chapter 15A, Article 26 Chapter 58, Article 71 N.C. Administrative Code What North Carolina agency is in charge of regulating bail bondsmen and runners? North Carolina Department of Insurance What official is the elected head...

NC real estate broker pre-licensing exam questions and answers Methods of terminating easements (3) - Answer-1. Merger 2. Release 3. Abandonment Express agreement (easement) - Answer-Easement is real property interest and therefore transferred by deed and typically recordsd Types of specific liens (3) - Answer-1. Government lien 2. Mechanic/construction lien 3. Mortgage Types of general liens (3) - Answer-1. Judgment lien 2. IRS or state lien 3. Personal property tax lien Jo...

NC Real Estate Exam Questions Which statute governs the ad valorem taxation of property? A. Machinery Act B. General Statute C. The Ad Valorem Act D. Real Estate Taxation Act - A. Machinery Act This act provides a framework for listing, appraising, and assessing real and personal property Which type of valuation technique applies a standard percentage increase or decrease to all property in a specified location? A. Valuation B. County appraisal C. Mass appraisal D. There is...

Bail Bonds Pre-Licensing Exam Questions and Answers What are the 3 areas of bail bond law? - Answer ️️ -Chapter 15A, Article 26 Chapter 58, Article 71 NC Administrative Code If there is a conflict between the areas of bail bond law, what is the order of authority? - Answer ️️ -Chapter 15A, Article 26 Chapter 58, Article 71 N.C. Administrative Code What North Carolina agency is in charge of regulating bail bondsmen and runners? - Answer ️️ -North Carolina Department of Insura...