301 NC POST LICENSING EXAM WITH

301 NC POST LICENSING EXAM WITH

300 REAL EXAM QUESTIONS AND

CORRECT ANSWERS / NC POST LICENSING

301 ACTUAL EXAM -

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

• confiscate.
• reprimand.
• revoke.
• suspend. - ANSWER-A) confiscate.

Ariel has just received her North Carolina real estate license in the mail after passing the state licensing exam. What is the status of Ariel's license at this time?

• Active broker
• Inactive provisional broker
• Active provisional broker
• Pending broker - ANSWER-B) Inactive provisional broker

Parker's issue date on his real estate license is March 18, 2020. When will Parker need to renew his license?

• After he completes all of his continuing education requirements
• After he completes all of his postlicensing courses
• By midnight of June 30, 2020
• By midnight of June 30, - ANSWER-C) By midnight of June 30, 2020 1 / 4

Abia is in process of gathering data to advise the seller on a listing price. Which of the following reports is Abia allowed to provide to the seller?

• A determination of value report
• An appraisal report
• A comparative market analysis
• A sales data report - ANSWER-C) A comparative market analysis

Penny is affiliated with a real estate firm who works for people who are in need of tenant representation in a real estate transaction. Penny offers as part of her tenant representation services to prepare a comparative market analysis (CMA) for all potential tenants. Will Penny be in compliance of licensing law if she provides the CMAs?

• Penny may perform the CMA for the tenants as long as she charges for it.
• Penny may prepare the CMA for the tenants but is not allowed to charge a fee.
• Penny may perform the CMA for the tenants.
• Penny may not perform the CMA for any tenants. - ANSWER-C) Penny may

perform the CMA for the tenants.

If the seller wants to net $100,000, has closing costs of $4,000, a loan payoff of $88,500, and broker commission fee of 6%, what would they need to sell their property for to net $100,000?

A) $164,893

B) $180,950

C) $204,787

D) $200,531 - ANSWER-C) $204,787

An agent's duties to third parties include all the following EXCEPT 2 / 4

• fairness.
• obedience.
• disclosure of material fact.
• honesty. - ANSWER-B) obedience.

Derrin hires Austin with Best Homes Realty to list his home for sale. As Austin is completing the listing agreement, Derrin mentions that the hot water heater has not worked for a couple of weeks and is not planning on repairing it since he is selling the home. Derrin tells Austin that he cannot share that information with anyone as it might affect the sale of the home. What is the BEST course of action for Austin at this time?

• If Austin shares the information regarding the hot water heater, he will be in

violation of his fiduciary duties, and Derrin can sue him for disclosing confidential information.

• Austin can share the information with people at Best Homes Realty but cannot

share it with any firm representing a buyer.

• Austin must disclose that the hot water heater is not working because it is a

material fact.

• Austin must obey the seller. Austin and Best Homes Realty owe fiduciary

duties to their clien - ANSWER-C) Austin must disclose that the hot water heater is not working because it is a material fact.

Armin, a broker affiliated with Best Homes Realty, listed a property for sale and conducted an open house. Courtney visited the open house and decided to make an offer. The seller had completed the Residential Property and Owners' Association Disclosure Statement (RPOADS) indicating all defects the seller knows that exist about the property. In this situation, which of the following statements is TRUE?

• Courtney needs to be advised to still conduct a full home inspection.
• Since the seller disclosed all known material facts, they have complied with the

Doctrine of Caveat Emptor and Courtney does not need to complete a full home inspection. 3 / 4

• Since the seller disclosed all known material facts that they were aware of,

Courtney does not need to complete a full home inspection.

• Armin can assure Courtney that the seller has disclosed all material facts and

she does not need to get her own home inspection. - ANSWER-A) Courtney needs to be advised to still conduct a full home inspection.

A buyer and a seller are negotiating the terms of a possible contract. The seller counteroffers to the buyer, and the buyer wants to think about it overnight. The next day the buyer calls the selling agent and says they would like to accept the seller's counteroffer. Before verifying that the buyer had actually signed the counteroffer, the selling agent calls the listing agent to say the buyer had accepted the seller's counteroffer. The seller then goes on to purchase another house based on the buyer's "acceptance" of their counteroffer. When the selling agent goes to pick up the signed paperwork from the buyer, the buyer states they never signed the counteroffer and do not want to buy the seller's home. Which of the following statements is correct?

• The selling agent is not responsible for the misrepresentation.
• Both the buyer and the selling agent are responsible for the misrepresentation.
• Neither the buyer - ANSWER-D) The selling agent is responsible for the

misrepresentation.

The real estate broker's fiduciary responsibility to keep the principal informed of all facts, including property condition and issues that affect a seller's willingness to sell and a buyer's willingness to buy, is the duty of

• reasonable skill, care, and diligence.
• disclosure.
• obedience.
• accounting. - ANSWER-B) disclosure.
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