Nc real estate broker - Study guides, Class notes & Summaries

NC License Law and Rules Questions and Answers Graded A+ What is required for a real estate licensee to maintain active status? A) Completing a financial audit B) Passing a new licensing exam C) Completing required continuing education courses D) Submitting quarterly reports C) Completing required continuing education courses If a licensee is found to have violated the North Carolina Real Estate License Law, what might be a possible consequence? A) A warning letter B) Suspensio...

NC Post Licensing – 303 Questions and Answers Already Passed What is the purpose of an agency disclosure form? To inform clients about the nature of the agency relationship and the duties owed How should a real estate professional handle a situation where they represent both the buyer and the seller in the same transaction? Disclose dual agency to both parties and obtain their written consent What is required for a real estate contract to be legally binding? It must be in ...

NC Post Licensing 303 Questions and Answers Already Passed What must a broker do if they are changing their office location? Notify the North Carolina Real Estate Commission of the new address. What is the minimum time period for which a broker must retain copies of transaction records? Three years. How should a broker handle earnest money deposits in North Carolina? Deposit them into a trust or escrow account as soon as possible. What should a broker-in-charge do if they su...

301- NC Post Licensing Questions and Answers Already Passed What is the primary purpose of a listing agreement in real estate? To grant the real estate agent the authority to market and sell the property on behalf of the seller. How should a broker handle a situation where a client wants to cancel a listing agreement? Review the terms of the agreement and follow the cancellation procedures outlined in the contract. What must a real estate agent provide to the buyer at the time ...

NC 2024- real estate broker pre-licensing exam

301 NC POST LICENSING EXAM 2024 WITH 300 REAL EXAM QUESTIONS AND CORRECT ANSWERS / NC POST LICENSING 301 ACTUAL EXAM LATEST VERSION (ALREADY PASSED!!) All of the following are actions that the North Carolina Real Estate Commission (NCREC) can take against a broker/provisional broker license EXCEPT A) confiscate. B) reprimand. C) revoke. D) suspend. - ANSWER-A) confiscate. Ariel has just received her North Carolina real estate license in the mail after passing the state licensing e...

Post Licensing 301 NC Study Questions with Verified Solutions What is the primary purpose of the listing agreement in real estate? To establish the terms and conditions under which a real estate agent will represent the seller How often must a property management company provide a financial report to the property owner? Monthly What is an exclusive right to sell listing? A type of listing agreement where the agent has the exclusive right to sell the property and earn a comm...

When did it become mandatory to have a license to do real estate? - July 1, 1957 When did it become mandatory to have a license to do real estate? - July 1, 1957 Who issues licenses? - NC real estate commission Who issues licenses? - NC real estate commission Do you have to be licensed to get paid for referrals? - Yes, you must have an active license Do you have to be licensed to get paid for referrals? - Yes, you must have an active license Brokerage activities requiring a lic...

Superior Real Estate School: Study for Retake Pre-Licensing Course Exam and Final Exam Questions and Answers 100% Verified 2024 Designated agency in North Carolina is considered: I. A form of dual agency II. Mandatory if you practice dual agency A. I only B. II only C. Both I and II D. Neither I nor II Answer- A. I only Designated agency can be practiced: I. Between two firms II. Between a broker-in-charge and a provisional broker licensee in their office A. I only B. II only...

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...