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North Carolina Real Estate Commission NC Real Estate Broker National Sample Questions (Q99-Q104):

NEW QUESTION # 99
Bernie is the broker-in-charge at a brokerage firm located in North Carolina. He is actively involved in listing and selling properties. Mei is a provisional broker at the same brokerage firm. She has a buyer client who has expressed interest in one of Bernie's listings. In this transaction, what would be a permissible agency arrangement?

A. Bernie would be the designated agent for both buyer and seller.
B. Bernie and Mei would be designated agents of their respective clients.
C. Bernie and Mei each have a single agency relationship with their respective clients.
D. Bernie and Mei could act as dual agents to both clients.

Answer: B

Explanation:
Under North Carolina agency rules,dual agencyis permissible only ifwritten informed consentis secured from both parties, and typically involvesdesignated agencyto avoid conflict of interest. Bernie could serve as thedesignated agentfor the seller (listing), and Mei could serve as thedesignated agentfor the buyer, each separately representing their client while the brokerage acts as dual agent at the firm level Option C accurately reflects this legal structure. Option A (non-designated dual agency) is rarely allowed, B leaves Bernie unrepresented for seller, and D improperly places one agent on both sides.

NEW QUESTION # 100
To equalize each comparable property to the subject property when performing the sales comparison approach, the appraiser should make adjustments to:

A. only the comparable properties.
B. only the subject property.
C. both the subject and comparable properties.
D. the property being appraised.

Answer: A

Explanation:
In the sales comparison approach, appraisers always make adjustments to the comparable properties - never to the subject property - to reflect how they differ from the subject. This ensures that all comparables are on an equal footing with the subject being appraised. Thus, answer B is correct.

NEW QUESTION # 101
Which of the following entities would participate in the primary market for mortgage lending?

A. Federal Home Loan Mortgage Corporation
B. Commercial bank
C. Federal Housing Administration
D. Federal National Mortgage Association

Answer: B

Explanation:
The primary mortgage market is where loans are originated. Lenders such as commercial banks, credit unions, mortgage bankers, and savings institutions interact directly with borrowers. The Federal Home Loan Mortgage Corporation (Freddie Mac) and Federal National Mortgage Association (Fannie Mae) operate in the secondary market, purchasing existing loans. The Federal Housing Administration (FHA) insures loans but does not lend directly. Therefore, the correct answer is A.
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NEW QUESTION # 102
Which of the following actions by a listing broker is an example of willful misrepresentation?

A. Deliberately hiding structural damage from a buyer
B. Accidentally providing incorrect square footage of a property
C. Forgetting to disclose a minor repair needed in the property
D. Misunderstanding the zoning ordinance for a property

Answer: A

Explanation:
Willful misrepresentation occurs when a broker knowingly provides false information or deliberately conceals material facts. Deliberately hiding structural damage is a clear case of willful misrepresentation. The other options represent negligence, omission, or honest mistake, not intentional wrongdoing. Correct answer: B.
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NEW QUESTION # 103
A listing broker receives a signed offer from a buyer. Although the broker must present the offer to the seller as soon as possible, under the North Carolina Real Estate Commission Rules, the broker must present the offer:

A. within 24 hours.
B. before the end of the next business day.
C. within 2 days.
D. within 3 days.

Answer: B

Explanation:
NCREC rules require brokers to present all written offers to their client "immediately, but in no event later than three days." However, standard practice and Commission guidance emphasize that brokers must present offers no later than the end of the next business day after receipt. This ensures timely communication and allows the seller to respond promptly, especially in a competitive market. Therefore, the correct answer is B.
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NEW QUESTION # 104
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North Carolina Real Estate Commission NCREC-Broker-N Answers Free, NCREC-Broker-N Premium Files

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North Carolina Real Estate Commission NC Real Estate Broker National Sample Questions (Q99-Q104):

NC Real Estate Broker National Free Valid Torrent & NCREC-Broker-N Actual Practice Pdf & NC Real Estate Broker National Exam Training Pdf