Nc post licensing 303 - Study guides, Class notes & Summaries

NC POST-LICENSING 303 EXAM NEWEST ACTUAL EXAM COMPLETE ACCURATE QUESTIONS AND DETAILED VERIFIED ANSWERS GRADED A+ | 100% VERIFIED | 2024 UPDATE!!!

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...

POST LICENSING 303 - NC LAW, RULES, AND LEGAL CONCEPTS

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...

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...

NEW 303 NC POST LICENSING EXAM TESTBANK LATEST 2024 COMPLETE REAL QUESTIONS AND CORRECT ANSWERS WITH RATIONALES (CORRECT VERIFIED SOLUTIONS) NEWEST UPDATED VERSION |GUARANTEED PASS.

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