Broker in charge - Study guides, Class notes & Summaries

Superior Real Estate School: Study for Retake Pre-Licensing Course Exam| Question and Answers, 100% Correct| Latest 2024 Designated agency in North Carolina is considered: I. A form of dual agency II. Mandatory if you practice dual agency A. I only B. II only C. Both I and II D. Neither I nor II A. I only Designated agency can be practiced: I. Between two firms II. Between a broker-in-charge and a provisional broker licensee in their office A. I only B. II only C. Both I and II D....

Designated agency in North Carolina is considered: I. A form of dual agency II. Mandatory if you practice dual agency A. I only B. II only C. Both I and II D. Neither I nor II - A. I only Designated agency can be practiced: I. Between two firms II. Between a broker-in-charge and a provisional broker licensee in their office A. I only B. II only C. Both I and II D. Neither I nor II - D. Neither I nor II Under the general principles of agency, when a licensee is acting on behalf of a c...

Post License 303--NC Law, Rules and Legal Concepts 100% Pass What is the primary responsibility of a real estate broker in North Carolina? To act in the best interest of their clients and ensure compliance with state real estate laws and regulations. What is the required action if a broker changes their business address in North Carolina? Notify the North Carolina Real Estate Commission within ten days of the change. What is the purpose of the Trust Account in real estate transa...

NC Post Licensing 303 Questions and Answers Already Passed What must a broker do if they are changing their office location? Notify the North Carolina Real Estate Commission of the new address. What is the minimum time period for which a broker must retain copies of transaction records? Three years. How should a broker handle earnest money deposits in North Carolina? Deposit them into a trust or escrow account as soon as possible. What should a broker-in-charge do if they su...

Designated agency in North Carolina is considered: I. A form of dual agency II. Mandatory if you practice dual agency A. I only B. II only C. Both I and II D. Neither I nor II Answer - A. I only Designated agency can be practiced: I. Between two firms II. Between a broker-in-charge and a provisional broker licensee in their office A. I only B. II only C. Both I and II D. Neither I nor II Answer - D. Neither I nor II Under the general principles of agency, when a licensee is a...

B-1 ASREB Questions and Answers Already Passed A broker receives earnest money from a buyer but instead of placing the money into the trust account the broker pays company bills. This action is an example of: a. Conversion b. Commingling c. Subrogation d. Bona fide a. Conversion A designated broker of a real estate company may: a. Act as a designated broker for more than one real estate company in Arizona b. Take a temporary leave of absence for a period not to exceed 60 days...

Accountants are regulated by a variety of organizations. Match the statements with the most directly related organization: ● Accounting and Review Services Committee. ● American Institute of Certified Public Accountants. ● Auditing Standards Board. ● Federal Accounting Standards Advisory Board. ● Financial Accounting Standards Board. ● General Accounting Office. ● Government Accounting Standards Board. ● Public Company Accounting Oversight Board. ● Securities...

West Virginia Real Estate Specific Exam Questions and Answers Already Passed Broker is ordering the sign for her new firm. Which is NOT a sign requirement? Letters at least 2 inches in height The Reason: Every sign shall prominently display the name of the broker, the term "Broker" and the company name, if any, all in letters not less than 1 inch in height. If the broker so desires, the names of the salespersons or associate brokers may be placed below the name of the broker. Brok...

Designated agency in North Carolina is considered: I. A form of dual agency II. Mandatory if you practice dual agency A. I only B. II only C. Both I and II D. Neither I nor II Answer- A. I only Designated agency can be practiced: I. Between two firms II. Between a broker-in-charge and a provisional broker licensee in their office A. I only B. II only C. Both I and II D. Neither I nor II Answer- D. Neither I nor II Under the general principles of agency, when a licensee is act...

Designated agency in North Carolina is considered: I. A form of dual agency II. Mandatory if you practice dual agency A. I only B. II only C. Both I and II D. Neither I nor II Answer- A. I only Designated agency can be practiced: I. Between two firms II. Between a broker-in-charge and a provisional broker licensee in their office A. I only B. II only C. Both I and II D. Neither I nor II Answer- D. Neither I nor II Under the general principles of agency, when a licensee is act...