How long does a provisional broker have to activate their license from the date of licensure?

there is no required time period for license activation

All of the following would constitute an illegal action by inactive licensee who is not affiliated with a firm, EXCEPT:

tell a new acquaintance they are a broker, but they are on inactive status

Which of the following do not need a real estate license to sell property?

a corporation that owns property and using an employee to sell the property

All of the following are requirements of licensure for a NC Real Estate license, EXCEPT:

Be a resident of North Carolina

So long as it is part of his or her duties, is it legal for an unlicensed assistant to solicit listings for the broker?

No, active participation in soliciting RE business requires a RE license

What is the first point at which a provisional broker may begin practicing real estate in North Carolina?

when NCREC receives notification provisional broker's activation with BIC

An unlicensed assistant may do all of the following activities, EXCEPT:

exhibit homes that are for sale and show the buyer around the home

In regard to real estate fees and commissions between brokerages and clients what is the role of the NCREC:

has no role in fees or commissions

Which of the following statements is true about timeshares?

They must be registered with the NC Real Estate Commission prior to sale.

All of the following could result in disciplinary action by the NCREC for unworthiness or incompetence, EXCEPT:

Attempting to take all of the post licensing courses in a single year

All of the following are powers of the NC Real Estate Commission, EXCEPT:

to order licensees to make restitution to clients and levy fines

All of the following are correct statements about the composition of the NCREC, EXCEPT:

commission members serve 5-year terms

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License Law Review

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Questions 19

Answers

1
How long does a provisional broker have to activate their license from the date of licensure?
there is no required time period for license activation
180 days
30 days
December 31 of the current year
2
All of the following would constitute an illegal action by inactive licensee who is not affiliated with a firm, EXCEPT:
handing out business cards at a social gathering
hosting an open house for another agent
telling members of a networking club they are a broker and offering service
tell a new acquaintance they are a broker, but they are on inactive status
3
Which of the following do not need a real estate license to sell property?
an auction house that deals in the sale of real property
a corporation that owns property and using an employee to sell the property
4
In the event that a licensee's annual renewal fee is returned, the NCREC may take all of the following action, EXCEPT:
fine the agent
revoke the agent's license
suspend the agent's license
deny licensure renewal
5
All of the following are requirements of licensure for a NC Real Estate license, EXCEPT:
Possess a social security number
Be a United States citizen or possess proper documentation
Be a resident of North Carolina
File a complete application and fee
6
If PB fails to complete all 3 postlicensing courses within 18 months of obtaining license, what is their license status
cancelled
expired
inactive
active
7
So long as it is part of his or her duties, is it legal for an unlicensed assistant to solicit listings for the broker?
No, soliciting listings is the exclusive responsibility of the BIC
Yes, if it is part of a written job description
No, active participation in soliciting RE business requires a RE license
Yes, because he or she is being paid a salary not a commission
8
What is the first point at which a provisional broker may begin practicing real estate in North Carolina?
upon successful completion of all course work and required examinations
upon completion of all educational requirements
notification from NCREC that candidate successfully passed real estate exam
when NCREC receives notification provisional broker's activation with BIC
9
If a active provisional broker pays their renewal fee before their second renewal, but does not take their 8 hours of CE
Inactive
Expired
Active
10
An unlicensed assistant may do all of the following activities, EXCEPT:
exhibit homes that are for sale and show the buyer around the home
exhibit units for rent and provide tenants with information
fill in preprinted lease agreements and collect monies
assist the licensee with administrative duties and tasks
11
In regard to real estate fees and commissions between brokerages and clients what is the role of the NCREC:
only sets maximum limits on the fees and commissions
has no role in fees or commissions
only becomes involved when a complaint if filed
regulates commissions exchanged between brokers, but not those with clients
12
Which of the following statements is true about timeshares?
They do not have to be registered with the NC Real Estate Commission.
The timeshare broker may be fined by the NC Real Estate Commission.
They may be transferred prior to registering with the NCREC.
They must be registered with the NC Real Estate Commission prior to sale.
13
How long is applicant's Examination Eligibility Period to take the NC RE Examination once has approved their application
90 days
60 days
180 days
360 days
14
All of the following could result in disciplinary action by the NCREC for unworthiness or incompetence, EXCEPT:
making any willful or negligent misrepresentation
pursuing a course of making false promises
accepting commissions as a provisional broker from any person other BIC
Attempting to take all of the post licensing courses in a single year
15
All of the following are required in order to obtain a NC real estate license, EXCEPT:
completing an application
successfully completing a 75-hour course/passing a school final examination
age of at least 18
a high school diploma
16
All of the following are powers of the NC Real Estate Commission, EXCEPT:
to seek injunctive orders in court
to conduct announced or unannounced audits of licensees
to order licensees to make restitution to clients and levy fines
subpoena the books, records and bank statements and accounts of a licensee
17
Which of the following must have a NC real estate license?
investor purchasing rental properties and placing back on market for sale
The executor of an estate selling parent's property/receiving a fee
A crier of sales
An auctioneer
18
All of the following are correct statements about the composition of the NCREC, EXCEPT:
there are at least 3 licensees and at least 2 laypeople serving commission
commission members serve 5-year terms
there are 9 appointed members of the NC Real Estate Commission
there are 9 appointed members of the NC Real Estate Commission
19
A NC provisional broker's real estate license is initially issued on what type of status?
probationary
inactive
active
expired

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