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Real Estate Licensing NCREC-Broker-N Exam Dumps

Vendor

Real Estate Licensing

Exam Code

NCREC-Broker-N

Exam Name

North Carolina Real Estate Broker National

Exam Duration

Total Questions

125

$ 49

PDF VERSION

DEMO QUESTIONS

Q1:

[Broker’s Authority and Duties] Under the provisions of a property management agreement, a property manager has a legal obligation to promote and protect whose interests?

A: The property owner

B: The tenants

C: The property owner and the tenants

D: The public

Correct Answer: A

Q2:

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 comparable properties.

C: the property being appraised.

D: only the subject property.

Correct Answer: B

Q3:

[Broker’s Authority and Duties — Trust Account Requirements] In North Carolina, an earnest money deposit that is paid by check must be deposited into a trust account no later than:

A: 3 banking days after receipt.

B: 3 banking days after acceptance of the offer.

C: 5 banking days after receipt.

D: 5 banking days after acceptance of the offer.

Correct Answer: B

Q4:

[Compliance with Laws and Regulations — Lien Priority] In North Carolina, which lien has the highest priority when property is sold to recover a debt?

A: Ad valorem property tax lien

B: Judgment lien

C: Mortgage lien

D: Whichever lien was recorded first

Correct Answer: A

Q5:

[Parties and Property Description — Ownership Types] The owner of a cooperative unit has which of the following rights in the property?

A: A fee simple interest in the unit and an undivided common interest in common areas

B: A fee simple interest in the unit and a proportional interest in common areas based on unit size

C: A fee simple interest in the unit combined with occupancy rights for a specified recurring period annually

D: A proprietary lease for the exclusive use of the unit and shares of stock in the corporation that owns the property

Correct Answer: D

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