NC Real Estate Exam overview 2

An installment land contract was used to finance a purchase. Which of the following is false?

Land deposited by a river running through a property

How many days does a provisional broker have to deposit earnest money in his trust account?

The term rescission is best defined as

Semi annual statement sent to an owner that does NOT reflect the entire debt service as an expense is

The primary function of a property manager is to

Which type of agency must be in writing from inception?

Which of the following does NOT require a real estate license?

An option to purchase must have an option period, option $, agreed upon sales price and must be in writing

When establishing rental rates for a building, all of the following are included operating expenses EXCEPT

A buyer and developer cannot enter into a contract to purchase a lot until the final approval has been obtained

A listing agent can practice designated agency with both seller & buyer clients in the same transaction if both consent

Which is TRUE of an adjustable rate mortgage loan?

Which best describes a contract that is voidable?

The formula for Net Operating Income (NOI) is

The buyer in an installment land contract is typically NOT responsible for paying during the contract period

Public records guarantee marketable title

Dual agency can occur within one firm if a broker shows his buyer client his or her own listing

All the following affect demand EXCEPT

A written real estate contract is presumed to be the complete agreement of the parties to a contract because of the

A broker obtains their license August 2018. When will they need to take the required continuing education courses?

A homestead estate is one that

If a broker’s misrepresentation causes loss of financial injury to a buyer customer, who could be held responsible?

The recording of a deed

Designated agency is allowed

In Nc, caveat emptor is still intact for property owners in real estate

Which of the following do NOT require an active & current license?

Seller makes a counteroffer to an Offer to Purchase on their property. The prospective buyer is

A title insurance policy is designed to protect the insured against events that

The recorded history of all matters that affect the title to a specific parcel of real property

The primary purpose of a deed is to