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North Carolina Real Estate Commission NC Real Estate Broker National Sample Questions:

1. A seller tells their listing broker that the basement leaks in heavy rains but marks "No Representation" to the relevant question on the North Carolina Real Estate Commission's Residential Property and Owners' Association Disclosure Statement (RPOADS). The listing broker must:

A) inform the buyer that the basement leaks during heavy rains.
B) complete a new property disclosure statement themself.
C) inform the local building commission.
D) protect the interests of their client and keep the information confidential.

2. Which statement about postlicensing education requirements for North Carolina provisional brokers is TRUE?

A) The required postlicensing education program consists of three 30-hour courses.
B) A new provisional broker has two years to complete the required postlicensing education.
C) The required postlicensing education must be completed before a provisional broker license can be activated.
D) If a provisional broker does not complete the required postlicensing education, their license is revoked.

3. Which of the following is a key characteristic of an exclusive right to sell listing agreement?

A) The seller can list the property with multiple brokers.
B) The seller does not owe a commission if they sell the property themselves.
C) The broker is guaranteed a commission if the property sells during the listing term.
D) The broker must be the procuring cause of the sale to earn a commission.

4. A seller discusses listing their home with a broker. The seller tells the broker that when the house sells, the seller wants $200,000 in their pocket at closing, and the listing brokerage can keep any amount beyond that as their commission. What does this scenario describe?

A) Net listing
B) Open listing
C) Exclusive right to sell listing
D) Exclusive agency listing

5. The owner of a lot that is 99 feet by 110 feet would like to sell it. Similar properties sell for $180,000 per acre.
What is the likely selling price for this property?

A) $90,000
B) $45,000
C) $60,000
D) $54,450

Solutions: