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NCREL POST LICENSING 301 BROKER RELATIONSHIPS AND RESPONSIBILITIES QUESTIONS WITH ANSWERS UPDATE
Question : Agency obligations come from 3 sources
Correct answer: 1. Common law
2. State law
3. Commission law
Question : When a licensee breaches agency obligations,
all of the following are potential consequences:
Correct answer: 1. Civil liability
2. Criminal liability
3. Ethical violations
4. NCREC Disciplinary actions
Question : The Commission may never
_________________ a licensee as part of a disciplinary
action
Correct answer: Fine
Question : Fiduciary duties and obligations are important
in the real estate industry because they impact the
____________ that consumer have in working with real
estate professionals.
Correct answer: Trust
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