301 Nc Post Licensing Exam With Questions And Correct Answers Latest Update 2024/2025
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Course
301 NC Post Licensing
Institution
301 NC Post Licensing
Which of the following BEST describes subagent?
A) Literally the agent of an agent, a person designated or employed by an agent to perform all
orand part of the agent's assigned tasks or services on behalf of the agent's principal
B) The person who authorizes another to act on the principal's be...
301 Nc Post Licensing Exam With Questions And Correct
Answers Latest Updated
Which of the following BEST describes subagent?
A) Literally the agent of an agent, a person designated or employed by an agent to perform all
orand part of the agent's assigned tasks or services on behalf of the agent's principal
B) The person who authorizes another to act on the principal's behalf within specified parameters
and to whom the agent owes certain legal duties
C) The person acting for and on behalf of the principal within the bounds of the authority granted
and who owes fiduciary duties to the principal
D) The relationship that exists when one person is authorized to act for and on behalf of another
A) Literally the agent of an agent, a person designated or employed by an agent to perform all or
part of the agent's assigned tasks or services on behalf of the agent's principal
Which of the following statements is TRUE regarding agency agreements?
A) Listing agreements, property management agreements, buyer agency agreements, and tenant
representation agreements can all be express oral agreements for a period of time.
B) Listing agreements and property management agreements must be express written agreements
from the beginning of the relationship and buyer agency agreements and tenant representation
agreements can be in express oral agreements for a period of time.
C) Listing agreements and buyer agency agreements must be express written agreements from
the beginning of the relationship and property management agreements and tenant representation
agreements can be express oral agreements for a period of time.
D) Listing agreements and property management agreements can express oral agreements for a
period of time and buyer agency agreements and tenant representation agreements must be in ex
B) Listing agreements and property management agreements must be express written agreements
from the beginning of the relationship and buyer agency agreements and tenant representation
agreements can be in express oral agreements for a period of time.
Which of the following statements BEST describes North Carolina Unfair Deceptive Practices
Act?
A) This law prohibits disclosure regarding facts about the property itself or the surrounding area.
B) This law prohibits unfair or deceptive acts or practices in commerce and applies to the sale or
rental of real estate and to real estate brokers.
C) This law holds that—except in cases involving fraud by the seller or the seller's agent—the
seller has no affirmative obligation to disclose information about the property being sold to the
purchaser and places the burden on the buyer to investigate the property before contracting to
purchase the property.
D) This law prohibits making generalized expression of a broker's opinion about a property.
,301 Nc Post Licensing Exam With Questions And Correct
Answers Latest Updated
B) This law prohibits unfair or deceptive acts or practices in commerce and applies to the sale or
rental of real estate and to real estate brokers.
George knows that the property is about to be rezoned for commercial use, which will greatly
increase the value of the property. George does not share this information with the seller and
offers to buy the property for himself as an investment. George closes on the property with the
seller and then after the rezoning has been finalized, George sells the property at a substantial
profit. This is an example of
A) self-dealing.
B) making false promises.
C) undisclosed dual agency.
D) improper dealing.
A) self-dealing.
Lanzo is in the process of listing a house for sale and tells the seller that he will stage the house,
steam clean the carpets, and hire a professional cleaning crew to clean prior to showing the
house. Once the seller signed the listing agreement, Lanzo failed to provide these services. Lanzo
may be guilty of which of the following?
A) Making false promises
B) Undisclosed dual agency
C) Self-dealing
D) Improper brokerage commission
A) Making false promises
Who is required to disclose material facts?
A) Sellers and listing agents
B) Sellers and buyers
C) Listing agents and selling agents
D) Sellers, buyers, listing agents, and selling agents
C) Listing agents and selling agents
Francis listed a property for sale and did not investigate the property for material facts because
he relied on the seller's statement that there was nothing wrong with the property. It was later
discovered that there was a substantial leak in the roof that was easily detectable. In this
situation, Francis could be held liable for which of the following?
A) The seller will be held responsible and Francis has no liability
B) Negligent misrepresentation or omission.
C) Willful misrepresentation or omission.
D) Francis is not required to discover material facts since he has the seller's word that there is
nothing wrong.
B) Negligent misrepresentation or omission.
,301 Nc Post Licensing Exam With Questions And Correct
Answers Latest Updated
Which of the following statements regarding agent's duties under real estate license law is
TRUE?
A) A broker's duties under license law when dealing with parties to a transaction apply regardless
of the broker's agency relationship to such parties.
B) A broker's duties under license law when dealing with parties to a transaction apply only to
the firm's clients.
C) A broker's duties under license law when dealing with parties to a transaction apply only to
the firm's customers.
D) A broker does not have duties under license law as brokers are only bound by North Carolina
Real Estate Commission rules.
A) A broker's duties under license law when dealing with parties to a transaction apply regardless
of the broker's agency relationship to such parties.
When it comes to standards for selling agents, which of the following statements is TRUE?
A) A selling agent may rely on the accuracy of property information provided by a listing agent
in MLS only and must verify other forms of advertising.
B) Generally, a selling agent may rely on the accuracy of property information provided by a
listing agent.
C) A selling agent may never rely on the accuracy of property information provided by a listing
agent as they must always verify everything.
D) Neither the listing nor selling agent are liable for advertising as long as there is a "disclaimer"
warning for the reader to make an independent investigation.
B) Generally, a selling agent may rely on the accuracy of property information provided by a
listing agent.
Alfonso tells a prospective buyer that, in his opinion, the property they are about to view is the
most beautiful property in the neighborhood. Even if the property would be considered to many
as being very unattractive, the nature of Alfonso's statement would be considered as
A) willful misrepresentation.
B) negligent misrepresentation.
C) false advertising.
D) puffing.
D) puffing.
Jessica is a broker working for a property management company that manages Getty Luxury
Apartments. Jessica promises a prospective tenant that the apartment will be repainted and have
the carpet replaced before the tenant moves in. Jessica fails to have the work done after the lease
is signed. This is an example of
A) making false promises.
B) self-dealing.
C) improper dealing.
D) undisclosed dual agency.
, 301 Nc Post Licensing Exam With Questions And Correct
Answers Latest Updated
A) making false promises.
Joseph, a broker affiliated with Right Homes Realty, lists a property for sale. Which of the
following statements BEST describes the relationship between Joseph and the seller?
A) Joseph is the agent of the seller and Right Homes Realty is the subagent of the seller.
B) Right Homes Realty is the agent of Joseph and the seller is a customer.
C) Joseph is the agent of the seller because the listing agreement is directly between Joseph and
the seller.
D) Right Homes Realty is the agent of the seller and Joseph is the subagent of the seller.
D) Right Homes Realty is the agent of the seller and Joseph is the subagent of the seller.
Which of the following BEST describes the common law of agency?
A) Case law establishing the responsibilities of a person who acts for another
B) State licensing laws and statutes
C) The Code of Ethics prescribed by the local trade association
D) The disclosure requirement by the agent to third parties no later than first substantial contact
A) Case law establishing the responsibilities of a person who acts for another
Elena hires Mendel and his firm to list her property for sale. They agree that Mendel will hold an
open house for the first two weekends the property is on the market. Mendel creates an open
house flyer and sends it to the printer with the square footage being listed at 2,100 square feet
instead of the actual square footage of 1,200 square feet. Mendel does not notice the error. A
buyer attends one of the open houses and makes an offer on the property. Later, the error is
discovered by the appraiser. In this situation, which of the following statements is TRUE?
A) Mendel can be held liable for inaccurate advertising.
B) Mendel is not liable because open house flyers are not a form of advertising.
C) Mendel was not required to advertise square footage and only did so at the request of the
seller, therefore, the seller is liable.
D) Mendel made an honest mistake and will not be held liable.
A) Mendel can be held liable for inaccurate advertising.
Spencer has listed a home with Gigi and her firm for $190,000, and Gigi suggests to a
prospective buyer customer that they submit a low offer because of the seller's urgent need to
sell. The buyer offers $175,000, and the seller accepts it. In this situation:
A) Gigi's action was acceptable since the seller accepted the offer.
B) Any broker is encouraged to solicit such bids for the property.
C) Gigi acted properly to obtain a quick offer on the property.
D) Gigi has violated her agency relationship with the seller.
D) Gigi has violated her agency relationship with the seller.
All of the following statements regarding payment of an agent in a real estate transaction is true
EXCEPT
A) Payment of a firm by a buyer or seller does not create an agency relationship; the agency
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