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North Carolina Real Estate Commission NC Real Estate Broker National Sample Questions:
1. Which of the following will an appraiser consider when appraising a property?
A) A reconciliation of values if more than one appraisal method is used
B) The original price paid for the property
C) The average value of all available comparables
D) The cost to update the subject property
2. 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) $300,000
B) The price of the comparable property is never adjusted.
C) $290,000
D) $310,000
3. A contract in which one or both parties have not yet completed performance of their contractual obligations is referred to as:
A) executed
B) executory
C) voidable
D) unenforceable
4. What principle states that the value of the best home in a neighborhood will be lowered by the existence of inferior homes?
A) Contribution
B) Anticipation
C) Regression
D) Progression
5. Which situation would be considered a material fact that a listing broker in North Carolina would be required to disclose to a prospective buyer?
A) A previous occupant manufactured methamphetamine on the property.
B) A previous occupant had a serious illness.
C) A previous owner died on the property.
D) The current owner believes the property is haunted.
Solutions:
Question # 1 Answer: A | Question # 2 Answer: C | Question # 3 Answer: B | Question # 4 Answer: C | Question # 5 Answer: A |

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