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NC 303 /NC POST LICENSING - 303 | UPDATE|COMPREHENSIVE FREQUENT MOST-TESTED QUESTIONS AND VERIFIED ANSWERS/SOLUTIONS|GET IT 100% ACCURATE!! $14.99   Add to cart

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NC 303 /NC POST LICENSING - 303 | UPDATE|COMPREHENSIVE FREQUENT MOST-TESTED QUESTIONS AND VERIFIED ANSWERS/SOLUTIONS|GET IT 100% ACCURATE!!

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NC 303 /NC POST LICENSING - 303 | UPDATE|COMPREHENSIVE FREQUENT MOST-TESTED QUESTIONS AND VERIFIED ANSWERS/SOLUTIONS|GET IT 100% ACCURATE!!

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  • October 27, 2024
  • 13
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • NC 303 /NC POST LICENSING - 303
  • NC 303 /NC POST LICENSING - 303
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CodedNurse
10/27/24, 8:28 AM NC 303 /NC POST LICENSING - 303 |2024-2025 UPDATE|COMPREHENSIVE FREQUENT MOST-TESTED QUESTIONS A…




NC 303 /NC POST LICENSING - 303 |2024-2025
UPDATE|COMPREHENSIVE FREQUENT MOST-
TESTED QUESTIONS AND VERIFIED
ANSWERS/SOLUTIONS|GET IT 100%
ACCURATE!!


Terms in this set (104)

A Licensee may not earn is INACTIVE or EXPIRED
compensation when
there license - VIP

A Licensee can receive the license was current and active even if inactive of
compensation that was expired after
earned WHEN - VIP

A BIC may NOT pay a unless the entity has a firm license.
licensee's ENTITY

1) Must be in writing - as part of the agreement


2) Must be subject to Lender Approval in case of
loans
A Licensee can share
commission with parties
3) Disclosed on the Closing Disclosure
BUT

4) Is considered a gift


5) Only with principal or client (not others)




https://quizlet.com/962913870/nc-303-nc-post-licensing-303-2024-2025-updatecomprehensive-frequent-most-tested-questions-and-verified-ans… 1/13

, 10/27/24, 8:28 AM NC 303 /NC POST LICENSING - 303 |2024-2025 UPDATE|COMPREHENSIVE FREQUENT MOST-TESTED QUESTIONS A…

1) from the BIC


Compensation ALWAYS 2) NO payment directly by the firm
flows through the firm
3) Brokers MAY NOT pay brokers directly except a
SOLE PROPrietorships

1) Best Practice to put in writing - Not a Rule


2) May pay referral fees to brokers in any state if
When Paying Non- person has a CURRENT and ACTIVE license
Affiliated Brokers or
Firms 3) DOCUMENTATION in broker's file:
- Written documentation regarding fee
- Proof of licensure
- Copy of a W9 for Brokerage Insurance or a 1099

When receiving Bonuses Disclosure AND consent by Principal is REQUIRED
& Incentives

KICKBACKS to
Settlement Service Providers
- BANKS
RESPA Prohibits
- APPRAISAL COMPANIES
- TITLE OFFICERS
- ATTORNEYS

Applies to:
- 1-4 units RESIDENTIAL PROPERTIES WITH A
RESPA STATUTE
FEDERALLY RELATED LOAN
- ENFORCED BY HUD

1) Vacant Land Transactions


2) Cash Transactions
RESPA does not apply to
(VIP)
3) Seller Financed Transactions


) Commercial Transactions




https://quizlet.com/962913870/nc-303-nc-post-licensing-303-2024-2025-updatecomprehensive-frequent-most-tested-questions-and-verified-ans… 2/13

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