Get Real Estate Licensing NCREC-Broker-N Exam Practice Questions - Real and Updated

Answer : D

According to the North Carolina Real Estate Commission Rules, a broker must present all offers ''immediately, but in no event later than three calendar days from the date of receipt.'' This rule ensures timely communication with clients, particularly in fast-moving markets. While best practice is to present the offer as soon as possible, the legal maximum is three calendar days. Therefore, the correct answer is D.

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Answer : A

To calculate the percentage of loss:

Loss = Original Price Sale Price = $500,000 $480,000 = $20,000

Percentage loss = ($20,000 $500,000) 100 = 4%

Correct answer: A

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Answer : C

The U.S. Environmental Protection Agency (EPA) has established a recommended action level of 4.0 picocuries per liter (pCi/L) for radon gas in indoor air. If a home's radon level is at or above this threshold, mitigation is recommended to reduce exposure. Radon is a naturally occurring radioactive gas that can pose serious health risks, particularly lung cancer. Therefore, the correct answer is C.

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Answer : B

According to NCREC rules and guidance, a listing broker is obligated to continue presenting all offers to the seller until closing, unless specifically instructed otherwise by the seller in writing. Even if the seller has accepted an offer, other offers must still be presented unless the transaction is completed. Brokers are not required to disclose the terms of competing offers (doing so requires written consent), nor are they required to prioritize offers based on price alone. Therefore, the correct and legally accurate answer is B.

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Answer : D

North Carolina rules prohibit a broker from representing a buyer in the purchase of property in which the broker has an ownership interest, regardless of whether the property is a vacation home, primary residence, or investment. The potential for conflict of interest is considered too great, and no form of dual or designated agency is permitted in such situations. Therefore, the broker cannot represent the buyer under any circumstances.

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