North Carolina Final Exam Review

The city can levy a special assessment against a property:

When measuring square feet of a home the stairwell space is included on

Asbestos building components can be resolved by

4 people own a parcel as joint tenants. One of them sells their interest. Which is true?

If a property is sold this clause makes the note due at sale:

Equity will increase with a property with all of the below except:

The real estate commission will

Condo ownership can best be explained as

A provisional broker must complete

The Equal Credit Opportunity of 1974 protects

Amount Realized Minus adjusted basis is:

Additional compensation or bonuses must be disclosed on the Offer to Purchase for all to see:

9 Mill is equal to

All of the following describe radon except

On the closing statement Earnest Money Is

All of the following are inheritable estates except:

Type of listing agreement where you get paid if you sell the property but not if the owner does

How many days does an agent have to get trust monies in the bank?

Oral Buyer agency agreements are

Earnest money is

In NC an unlicensed assistant can

The working with real estate agents brochure is required:

If you have now or have ever had polybutlyne piping it is:

Buyer purchases a gas station in a residential zone and wants to keep it a gas station this is

Commercial Easements in Gross:

In order to clear a title defect where someone else appears to have an interest in a property

Can a buyer sign a statement allowing the list agent to share their offer terms w/other buyers?

A tenant wants to build an office but just wants to lease the land to build it this would be

Examples of liquidated damages are

A seller buys a house for $150,000. Later he sells it for $225,000. What is his % profit?

A Broker could earn a sales commission even if a sale/title transfer never happens:

If a subject property is superior to a comp then you

A loss in value due to a property having an undesired design or feature is

Which of the following items would be considered a fixture?

The income approach to valuation uses

An Estimate of a property's market value on a specific date using sold comps is called

An Option to Purchase:

How many months past doing a transaction can we solicit business from persons on the DNC?

A FSBO drunk (at a BBQ) decides to hire you to sell his house and signs the agreement. This is

Buyer backs out of contract after Due Diligence Period

Who fills out the NC property disclosure statement?

FHA insures a lender against loss in the event the borrower defaults:

A listing agent should review the settlement statement for accuracy of

All of the following are guaranteed or insured by a government agency except:

A home owner must show/prove financial damages of a neighbors violation before HOA enforcement

Which of the following is not a commission advertising violation"

Following owner instructions & realizing the highest rate of return is the PRIMARY function of

Upfront payment fee to increase a lenders yield, costs of 1% of loan amount, & lowers rate is

A 6 week rental agreement is an example of

A contract is formed between a buyer and seller when:

How many acres in a section (Gov. Survey System)?

How many days does a buyer get to terminate a time share purchase?