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North Carolina Real Estate Commission NC Real Estate Broker National Sample Questions:

1. When must a North Carolina broker provide a copy of the Working With Real Estate Agents (WWREA) Disclosure to a prospective buyer or seller?

A) Within 24 hours of the first substantial contact
B) At the first substantial contact
C) No later than when an offer is submitted
D) At the very first contact

2. Which of the following actions by a listing broker is an example of willful misrepresentation?

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

3. A North Carolina broker must maintain copies of all transaction files for at least _____ after the conclusion of a transaction?

A) 3 years
B) 2 years
C) 1 year
D) 4 years

4. The owner of a cooperative unit has which of the following rights in the property?

A) A proprietary lease for the exclusive use of the unit and shares of stock in the corporation that owns the property
B) A fee simple interest in the unit combined with occupancy rights for a specified recurring period annually
C) A fee simple interest in the unit and an undivided common interest in common areas
D) A fee simple interest in the unit and a proportional interest in common areas based on unit size

5. By what right could a county acquire private land necessary to build a new highway ramp?

A) Condemnation
B) Police power
C) Escheat
D) Eminent domain

Solutions: