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Post licensing 301 NC study questions with complete verified solutions
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Post licensing 301 NC study questions with complete verified solutions
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Post licensing 301 NC studyquestions with complete
verified solutions 2025-2026
When must a seller's agent or subagent initially disclose agency
status to a buyer? - answer before buyer and buyer's agent discuss
motivation and financial information
seller's subagent - answer no written or oral buyer agency
OLDCAR - answer obedience
loyalty
disclosure
confidentiality
accounting
reasonable care
In dual agency, the agent's duties are _____ to being a facilitator -
answer reduced
What statement would require full disclosure of all financing terms
in compliance with TILA, Reg Z and RESPA - answer any number
amount triggers full disclosure:
4.5% APR or $2000 down
A _____foreclosure is material fact and it must be______. - answer
filed foreclosure; must be disclosed
, If it is not_______, you shouldn't be talking about it. - answer
material fact
T/F AS-IS relieves seller from disclosing material fact - answer F,
AS-IS does not relieve requirement to disclose material fact
name 10 material fact required disclosures - answer stucco, radon,
lead-based paint, filed foreclosure, zoning, flood plains, meth
houses, gravesites, pending highways, asbestos siding
names issues that are not material fact - answer pending
foreclosure, death or illness, murder or suicide, HIV or AIDS,
haunted, aluminum wiring
Who is responsible if known hidden defect is found AFTER closing? -
answer Listing agent
Does filed foreclosure need to be disclosed? - answer Yes, it is a
material fact
In dual agency, the loyalty of the firm is ______between the buyer
and seller? - answer divided equally
In dual agency between clients, the agent's role is _______ to the
contractual benefits of the contract and the agent becomes a _______.
- answer reduced; facilitator
BIB and PB are doing a deal together, can BIC and PB work as
designated agents? - answer No, they must work as a dual agent
when must an agent disclose dual agency in a transaction? - answer
before presentation of the 1st offer
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