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Free PDF North Carolina Real Estate Commission - High-quality NCREC-Broker-N - Latest NC Real Estate Broker National Test Materials

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North Carolina Real Estate Commission NC Real Estate Broker National Sample Questions (Q31-Q36):

NEW QUESTION # 31
A comparable property sold for $300,000. It has a finished basement, while the subject property does not. The finished basement contributes $10,000 to value. What is the adjusted value of the comparable property?

A. The price of the comparable property is never adjusted.
B. $310,000
C. $290,000
D. $300,000

Answer: C

Explanation:
In appraisal practice, when adjusting a comparable property to reflect differences from the subject property, the adjustment is always made to the comparable. Since the comparable has a finished basement worth
$10,000 and the subject does not, we subtract $10,000 from the comparable's sale price to estimate what it would have sold for if it were more like the subject.
$300,000 # $10,000 = $290,000.
Therefore, the correct answer is A.
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NEW QUESTION # 32
A North Carolina broker deposits a buyer's earnest money check into their firm's general fund so that they can pay the rent on the brokerage office. This is an example of:

A. puffing.
B. commingling.
C. negligence.
D. capitalization.

Answer: B

Explanation:
Commingling is the illegal act of mixing a client's funds-such as earnest money-with the broker's personal or business funds. North Carolina law strictly prohibits brokers from depositing trust money (like earnest deposits) into the firm's general operating account. In this case, the broker used the funds to pay rent, which could also constitute conversion (intentional misuse). But since the question specifically addresses the deposit, the correct answer is B - commingling.
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NEW QUESTION # 33
To equalize each comparable property to the subject property when performing the sales comparison approach, the appraiser should make adjustments to:

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

Answer: C

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 # 34
Which statement about postlicensing education requirements for North Carolina provisional brokers is TRUE?

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

Answer: C

Explanation:
North Carolina provisional brokers are required to complete three postlicensing courses, each 30 hours in length, for a total of 90 hours. These must be completed within 18 months of licensure. Failure to complete these results in the license status being changed to inactive-not revoked. Additionally, postlicensing is not required to activate a license initially, but must be completed to remove the "provisional" status. Therefore, the correct answer is C.

NEW QUESTION # 35
A North Carolina real estate broker may:

A. practice oral seller agency but must have a listing agreement in writing no later than the time at which a buyer submits an offer.
B. delay the use of the Working with Real Estate Agents Disclosure when there is an oral seller agency.
C. practice oral buyer agency so long as it is exclusive and sets a specific time frame for the oral agency agreement.
D. practice oral buyer agency but must have a written agency agreement with the buyer prior to presenting an offer.

Answer: D

Explanation:
Under North Carolina Real Estate Commission (NCREC) rules, a broker may begin working with a buyer under oral buyer agency but must have a signed, written buyer agency agreement in place before presenting any offer on behalf of that buyer. Oral agency cannot be exclusive or have a defined time frame. Additionally, the broker must provide the Working with Real Estate Agents Disclosure at first substantial contact.
Therefore, oral buyer agency is permissible temporarily but must convert to a written agreement before drafting or presenting an offer, making option C correct.

NEW QUESTION # 36
......

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