NC Post-Licensing 302 EXAM BUNDLE(COMPLETE PACKAGE)Questions & Answers 100% CorrectNC Post-Licensing 302 EXAM BUNDLE(COMPLETE PACKAGE)Questions & Answers 100% CorrectNC Post-Licensing 302 EXAM BUNDLE(COMPLETE PACKAGE)Questions & Answers 100% CorrectNC Post-Licensing 302 EXAM BUNDLE(COMPLETE PACKAGE...
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A Licensee may not earn compensation when there license - VIP - ANSWERSis INACTIVE or EXPIRED A Licensee can receive compensation that was earned WHEN - VIPterm-0 - ANSWERSthe license was current and active even if inactive of expired after A BIC may NOT pay a licensee's ENTITY - ANSWERSunles...
Voorbeeld 2 van de 11 pagina's
In winkelwagenA Licensee may not earn compensation when there license - VIP - ANSWERSis INACTIVE or EXPIRED A Licensee can receive compensation that was earned WHEN - VIPterm-0 - ANSWERSthe license was current and active even if inactive of expired after A BIC may NOT pay a licensee's ENTITY - ANSWERSunles...
Comercial Real Estate Broker Lien - ANSWERSavailable only to listing broker, is NOT superior to mechanics lien, Must be filed for sales: within 30 days prior to closing; Leases: within 60 days after due date of payment Limited Non Resident Commercial License - ANSWERSMust reside in another state ...
Voorbeeld 2 van de 5 pagina's
In winkelwagenComercial Real Estate Broker Lien - ANSWERSavailable only to listing broker, is NOT superior to mechanics lien, Must be filed for sales: within 30 days prior to closing; Leases: within 60 days after due date of payment Limited Non Resident Commercial License - ANSWERSMust reside in another state ...
Commercial purchase contract - ANSWERSvary widely, inspections or due diligent are key, no standard contract Commercial Due Diligence - ANSWERSFree look, no risk, determined by buyer and seller BPO-Broker Price Opinion Analysis - ANSWERSContains a market analysis and derives value from capital...
Voorbeeld 2 van de 5 pagina's
In winkelwagenCommercial purchase contract - ANSWERSvary widely, inspections or due diligent are key, no standard contract Commercial Due Diligence - ANSWERSFree look, no risk, determined by buyer and seller BPO-Broker Price Opinion Analysis - ANSWERSContains a market analysis and derives value from capital...
5 or more time periods, over 5 yrs, 5 day right of rescission, $500 fine per violation - ANSWERSTimeshare 4x5 Rule No - ANSWERSCan an unlicensed assistant cold call prospects and solicit business? Assist others in the sale or lease, Hold open houses without a licensee, Cold call prospects and ...
Voorbeeld 2 van de 5 pagina's
In winkelwagen5 or more time periods, over 5 yrs, 5 day right of rescission, $500 fine per violation - ANSWERSTimeshare 4x5 Rule No - ANSWERSCan an unlicensed assistant cold call prospects and solicit business? Assist others in the sale or lease, Hold open houses without a licensee, Cold call prospects and ...
The purpose of zoning regulations - ANSWERSTo control the use of the land Full service office lease - ANSWERSLandlord pays for business service and maintenance but the rent is higher Absorption rate - ANSWERSHow much space is used or sales in a given period of time Floor plate, core area, u...
Voorbeeld 1 van de 4 pagina's
In winkelwagenThe purpose of zoning regulations - ANSWERSTo control the use of the land Full service office lease - ANSWERSLandlord pays for business service and maintenance but the rent is higher Absorption rate - ANSWERSHow much space is used or sales in a given period of time Floor plate, core area, u...
Active & current real estate license - ANSWERSRequired when assisting another for compensation in providing brokerage services. Unlicensed assistants MAY NOT - ANSWERS-Negotiate mgmt contracts -Prepare advertisements -Negotiate amounts of money -Determine deductions from deposits Unlicensed...
Voorbeeld 1 van de 3 pagina's
In winkelwagenActive & current real estate license - ANSWERSRequired when assisting another for compensation in providing brokerage services. Unlicensed assistants MAY NOT - ANSWERS-Negotiate mgmt contracts -Prepare advertisements -Negotiate amounts of money -Determine deductions from deposits Unlicensed...
Commercial Real Estate Broker Lien - ANSWERSThese laws allow for a commercial real estate broker to obtain and foreclose upon a lien as a legal remedy against a property if the buyer/seller or lessee/lessor fails to pay the broker the agreed upon commission, as their interests in the real property m...
Voorbeeld 1 van de 4 pagina's
In winkelwagenCommercial Real Estate Broker Lien - ANSWERSThese laws allow for a commercial real estate broker to obtain and foreclose upon a lien as a legal remedy against a property if the buyer/seller or lessee/lessor fails to pay the broker the agreed upon commission, as their interests in the real property m...
Commercial Property - ANSWERSVastly different from residential, so have to make sure you are an expert **Can be disciplined by license law and sued** residential vs. commercial - ANSWERSResidential: 1-4 unit dwelling Commercial: Anything else! Including rental and sales of commercial properties...
Voorbeeld 2 van de 14 pagina's
In winkelwagenCommercial Property - ANSWERSVastly different from residential, so have to make sure you are an expert **Can be disciplined by license law and sued** residential vs. commercial - ANSWERSResidential: 1-4 unit dwelling Commercial: Anything else! Including rental and sales of commercial properties...
Who needs a broker's license? - ANSWERSA license is required for any person or business entity, who for compensation; Lists, Leases, Buys, Exchanges, Auctions, Negotiates, or Sells real property, for others for compensation. Is an active real estate license required to sell Time Shares in NC? - ...
Voorbeeld 2 van de 10 pagina's
In winkelwagenWho needs a broker's license? - ANSWERSA license is required for any person or business entity, who for compensation; Lists, Leases, Buys, Exchanges, Auctions, Negotiates, or Sells real property, for others for compensation. Is an active real estate license required to sell Time Shares in NC? - ...
Who issues your real estate license? - ANSWERSNCREC You need an ______ real estate license to practice real estate for others for a fee - ANSWERSActive License Qualification Requirements: - ANSWERS1. be at least 18 years old 2. be a US citizen or a non-citizen national or a qualified alien un...
Voorbeeld 2 van de 8 pagina's
In winkelwagenWho issues your real estate license? - ANSWERSNCREC You need an ______ real estate license to practice real estate for others for a fee - ANSWERSActive License Qualification Requirements: - ANSWERS1. be at least 18 years old 2. be a US citizen or a non-citizen national or a qualified alien un...
Absorption Study - ANSWERSHow much space is used for the number of sales in a given period of time Terms associated with commercial office space - ANSWERSFloor plate, core area, usable area and rentable area Residential Rental Agreement Act responsibilities - ANSWERS1-Property must be habitabl...
Voorbeeld 2 van de 5 pagina's
In winkelwagenAbsorption Study - ANSWERSHow much space is used for the number of sales in a given period of time Terms associated with commercial office space - ANSWERSFloor plate, core area, usable area and rentable area Residential Rental Agreement Act responsibilities - ANSWERS1-Property must be habitabl...
You will be presented with a series of scenarios. Indicate whether the activities performed are allowed (Deal) or not (No Deal). We will then walk through the scenarios together. An LLC homebuilder building in several subdivisions has W-2 employees in model homes in each subdivision who show avai...
Voorbeeld 4 van de 35 pagina's
In winkelwagenYou will be presented with a series of scenarios. Indicate whether the activities performed are allowed (Deal) or not (No Deal). We will then walk through the scenarios together. An LLC homebuilder building in several subdivisions has W-2 employees in model homes in each subdivision who show avai...
If you are helping your out of town neighbor show their rental property to prospective tenants, simply as a favor, do you need a real estate license? But if compensation is involved you need a license. - ANSWERSNO If your brother gives you power of attorney to sign closing documents for them, do ...
Voorbeeld 2 van de 9 pagina's
In winkelwagenIf you are helping your out of town neighbor show their rental property to prospective tenants, simply as a favor, do you need a real estate license? But if compensation is involved you need a license. - ANSWERSNO If your brother gives you power of attorney to sign closing documents for them, do ...
Mary, a woman of color, has filed a fair housing complaint after suspecting her real estate agent was only showing her homes in communities that were primarily made up of minorities. After completing its investigation, HUD found reasonable cause to believe that discrimination occurred. What will hap...
Voorbeeld 2 van de 9 pagina's
In winkelwagenMary, a woman of color, has filed a fair housing complaint after suspecting her real estate agent was only showing her homes in communities that were primarily made up of minorities. After completing its investigation, HUD found reasonable cause to believe that discrimination occurred. What will hap...
You will be presented with a series of scenarios. Indicate whether the activities performed are allowed (Deal) or not (No Deal). We will then walk through the scenarios together. An LLC homebuilder building in several subdivisions has W-2 employees in model homes in each subdivision who show availa...
Voorbeeld 4 van de 33 pagina's
In winkelwagenYou will be presented with a series of scenarios. Indicate whether the activities performed are allowed (Deal) or not (No Deal). We will then walk through the scenarios together. An LLC homebuilder building in several subdivisions has W-2 employees in model homes in each subdivision who show availa...
sole proprietor - ANSWERSFull broker not affiliated with another firm Can not Advertise Can not hire other licensees Can not hold a trust account Would have to become a BIC in order to 'do it all' How long is BIC eligible status valid for? - ANSWERS12 months must take BIC update instead of...
Voorbeeld 1 van de 3 pagina's
In winkelwagensole proprietor - ANSWERSFull broker not affiliated with another firm Can not Advertise Can not hire other licensees Can not hold a trust account Would have to become a BIC in order to 'do it all' How long is BIC eligible status valid for? - ANSWERS12 months must take BIC update instead of...
Leasing - ANSWERSno statue for commercal leases - negotionable Consideration in leasing - ANSWERStenant use & competitive restrictions, TIS, Uplifting, CAM TIS - ANSWERSTENANT IMPROVEMENTS UPLIFTING - ANSWERSLANDLORD PAYS CAM - ANSWERSCOMMON AREA MAINTENANCE MAJOR CATEGORIES OF COMMER...
Voorbeeld 1 van de 4 pagina's
In winkelwagenLeasing - ANSWERSno statue for commercal leases - negotionable Consideration in leasing - ANSWERStenant use & competitive restrictions, TIS, Uplifting, CAM TIS - ANSWERSTENANT IMPROVEMENTS UPLIFTING - ANSWERSLANDLORD PAYS CAM - ANSWERSCOMMON AREA MAINTENANCE MAJOR CATEGORIES OF COMMER...
Can an inactive agent be paid a referral commission if they were active at the time they made the referral? - ANSWERSYes. If and only if they were active at time of referral Must Dual Agency be in writing? - ANSWERSBefore an offer is made, Yes. Dual agency must be in writing and signed by both pa...
Voorbeeld 1 van de 4 pagina's
In winkelwagenCan an inactive agent be paid a referral commission if they were active at the time they made the referral? - ANSWERSYes. If and only if they were active at time of referral Must Dual Agency be in writing? - ANSWERSBefore an offer is made, Yes. Dual agency must be in writing and signed by both pa...
If the firm is a corporation, a general partner if a partnership, or a manager if a limited liability company. - ANSWERSThe Qualifying Broker is required to possess an active North Carolina Real Estate Broker License and must be a corporate officer. Grandson managing a rental property for FREE re...
Voorbeeld 2 van de 6 pagina's
In winkelwagenIf the firm is a corporation, a general partner if a partnership, or a manager if a limited liability company. - ANSWERSThe Qualifying Broker is required to possess an active North Carolina Real Estate Broker License and must be a corporate officer. Grandson managing a rental property for FREE re...
Classifying contracts: Express & Implied - ANSWERSExpress: Bilateral, executed Intentions stated (orally or written) Implied: Unilateral, executory Inferred from conduct or actions Classifying contracts: Bilateral & Unilateral - ANSWERSBilateral - two promises (both parties bound to do som...
Voorbeeld 3 van de 25 pagina's
In winkelwagenClassifying contracts: Express & Implied - ANSWERSExpress: Bilateral, executed Intentions stated (orally or written) Implied: Unilateral, executory Inferred from conduct or actions Classifying contracts: Bilateral & Unilateral - ANSWERSBilateral - two promises (both parties bound to do som...
Uniform Electronic Transactions Act (UETA) - ANSWERS(NC) UETA: Legislation validates electronic contracts / other documents / and signatures. Provides that they will not be denied validity & enforce-ability solely b/c they are in electronic form. (Federal) E-Sign: Validates electronic contracts & ...
Voorbeeld 2 van de 6 pagina's
In winkelwagenUniform Electronic Transactions Act (UETA) - ANSWERS(NC) UETA: Legislation validates electronic contracts / other documents / and signatures. Provides that they will not be denied validity & enforce-ability solely b/c they are in electronic form. (Federal) E-Sign: Validates electronic contracts & ...
When must a seller's agent or subagent initially disclose agency status to a buyer? - ANSWERSbefore buyer and buyer's agent discuss motivation and financial information seller's subagent - ANSWERSno written or oral buyer agency OLDCAR - ANSWERSobedience loyalty disclosure confidentiality...
Voorbeeld 2 van de 5 pagina's
In winkelwagenWhen must a seller's agent or subagent initially disclose agency status to a buyer? - ANSWERSbefore buyer and buyer's agent discuss motivation and financial information seller's subagent - ANSWERSno written or oral buyer agency OLDCAR - ANSWERSobedience loyalty disclosure confidentiality...
In a real estate transaction, which of the following is an example of consideration? - ANSWERSThe seller's promise to sell Your automatic check writer wrote a check for $51.50, but your printer ran out of toner, so you had to fill in the handwritten line. In a hurry, you accidentally wrote, "Fi...
Voorbeeld 4 van de 51 pagina's
In winkelwagenIn a real estate transaction, which of the following is an example of consideration? - ANSWERSThe seller's promise to sell Your automatic check writer wrote a check for $51.50, but your printer ran out of toner, so you had to fill in the handwritten line. In a hurry, you accidentally wrote, "Fi...
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