Nc real estate test - Study guides, Class notes & Summaries
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North Carolina Real Estate Exam Prep Basic, Ownership Interests, Encumbrances, Property Description Questions with Correct Answers
- Exam (elaborations) • 5 pages • 2024
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TITLE - Answer-The right to or Ownership of Real Property 
 
Freehold Estates (ownership of undetermined length) 
 2 main categories - Answer-1. Estates of Inheritance 
2. Estates NOT of inheritance 
 
Fee - Answer-Fee - a right to the use of land 
 
Simple - not constrained 
 
Estates of Inheritance - 3 categories - Answer-1. Fee Simple Absolute (complete ownership - best kind) 
2. Fee Simple Defeasible (aka QUALIFIED FEE) (can be terminated)!!! 
 * Fee Simple Determinable (based on time - no...
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NC Real Estate 2023 Exam Questions with All Correct Answers
- Exam (elaborations) • 23 pages • 2023
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NC Real Estate 2023 Exam Questions with All Correct Answers 
How do you activate your license? - ANSWER Affiliating with a BIC 
 
What do you need a license for? - ANSWER LLBEANS 
List 
Lease 
Buy 
Exchange 
Auciton 
Negotiate 
Sell (procure a ready, willing, or able buyer) 
 
What is the 3 prong test? - ANSWER To determine if you need a license. 
1. LLBEANS 
2. for others 
3. for compensation 
 
Exemptions to needing a license - ANSWER 1. FSBO 
2. Entity (LLC, Corp, Partnership...
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NC Post-Licensing 302 - Unit Test Questions & Answers 100% Correct!
- Exam (elaborations) • 51 pages • 2024
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In a real estate transaction, which of the following is an example of consideration? - ANSWERSThe seller's promise to sell 
 
Your automatic check writer wrote a check for $51.50, but your printer ran out of toner, so you had to fill in the handwritten line. In a hurry, you accidentally wrote, "Fifty-one dollars and no/100 cents." Which amount takes priority? - ANSWERSThe handwritten number 
 
Morgan has agreed to sell his home to Dierks, and they've signed a contract. Which of these actions...
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Timeshare Test 1 Study Guide
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Timeshare Test 1 Study Guide 
 
Marriott Vacation Club just introduced what kind of ownership? - points 
 
Existing Marriott Vacation Club owners will have to convert their ownership into the new 
program. - FALSE 
 
Timeshare sales have increased or decreased in the United States since last year. - Decreased 
 
At the end of the semester Dr. Kaufman accepts extra credit papers if you have a poor grade. - 
FALSE 
 
Before the banking issues if you could sign your name and wanted to buy it timesh...
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NC Real Estate Exam Chapter 2 Questions and Answers
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NC Real Estate Exam Chapter 2 Questions and Answers 
 
subsurface rights - Answer-rights to use the space below ground level and to extract the natural resources lying below the earth's surface 
 
air rights - Answer-rights to use the air above the land 
 
riparian rights - Answer-granted to owners of land located along the course of a river, stream or lake giving the owner unrestricted right to use the water, provided such use does not harm owners upstream or downstream 
 
littoral rights - An...
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NC Real Estate Exam Chapter 2 Questions and Answers
- Exam (elaborations) • 4 pages • 2024
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NC Real Estate Exam Chapter 2 Questions and Answers 
 
subsurface rights - Answer-rights to use the space below ground level and to extract the natural resources lying below the earth's surface 
 
air rights - Answer-rights to use the air above the land 
 
riparian rights - Answer-granted to owners of land located along the course of a river, stream or lake giving the owner unrestricted right to use the water, provided such use does not harm owners upstream or downstream 
 
littoral rights - An...
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NC Post-Licensing 302 - Unit Test Questions and Answers 2024/202
- Exam (elaborations) • 94 pages • 2024
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In a real estate transaction, which of the following is an example of consideration? 
 The seller's promise to sell 
Your automatic check writer wrote a check for $51.50, but your printer ran out of toner, so 
you had to fill in the handwritten line. In a hurry, you accidentally wrote, "Fifty-one dollars 
and no/100 cents." Which amount takes priority? 
 The handwritten number 
Morgan has agreed to sell his home to Dierks, and they've signed a contract. Which of these 
actio...
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TLETA POST STUDY GUIDE LATEST UPDATED
- Exam (elaborations) • 15 pages • 2024
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TLETA POST STUDY GUIDE LATEST UPDATED 
Rationalization - Answer ️️ -Denial of victim 
State court system - Answer ️️ -English common law and NC 
TN counties - Answer ️️ -95 counties 
Bail - Answer ️️ -Able to buy out while awaiting trial 
Affidavit - Answer ️️ -Written statement signed and sworn 
Warrant - Answer ️️ -Written order to bring someone in 
Mitimus - Answer ️️ -A writ issued from a court, directing an officer to transport the person 
named to jail. 
Posse C...
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North Carolina Real Estate Exam Prep Basic, Ownership Interests, Encumbrances, Property Description Exam with Correct Answers
- Exam (elaborations) • 5 pages • 2024
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North Carolina Real Estate Exam Prep Basic, Ownership Interests, Encumbrances, Property Description Exam with Correct Answers 
 
Qualified Fee - Answer-aka FEE SIMPLE DEFEASIBLE 
This term was on practice test and didn't recognize! 
 
(you have to qualify to keep title) 
 
Estates NOT of Inheritance - 2 categories - Answer-1. Covnentional Life Estate (Life Tenant's ownership ends at his/her death). Then reverts back to grantor or grantor's heirs. 
 
2. Martial Life Estate (abolished in NC - N...
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NC Adjuster License Practice Exam Test with Verified Answers
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NC Adjuster License Practice Exam Test with Verified Answers 
Manny is purchasing a Commercial Property policy with a Busi- 
ness Income form included. Manny can select from any of the 
following as a method to provide coverage, while avoiding the 
coinsurance requirement, EXCEPT: 
The maximum monthly limit of indemnity optional coverage 
The traditional definition of actual cash value (ACV) is: Replacement cost minus depreciation 
Sam and Dan are working to clean out the gutters around t...
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