As a Provisional Broker when must you take your first CE class?

Before the Second License Renewal

You set up a DBA but don't use your surname, what must you do?

Register in each County Deeds and copy of certificate 2 REC

What happens if any broker forgets to renew their license?

All brokerage activities must stop.

You can't do this with a 1031 Like Kind Exchange...

Exchange one property for 3 properties

What is a legal non-conforming use?

A use that was permitted, then continued when zone changed

When do Manufactured Homes become real property?

Put on a permanent foundation, no wheels, axel or VIN

Special properties include ...

golf courses, sports facilities, churches ..

You hire an assistant. What can they do?

Do record keeping and admin work

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Selected Topics

24 termsStudBud Administration52 plays

North Carolina Real Estate Post-Licensing Education. Exploring General Topics.

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Questions 24

Answers

1
In Commercial Real Estate who usually pays the commission?
The buyer
The bank
The seller
The broker
2
As a Provisional Broker when must you take your first CE class?
Before the Second License Renewal
Post Licensing Education is same as CE
Can not wait must do it first year
After your first license renewal
3
All are important factors for land except ...
transitional set backs
access to roadways
proximity to Hardees
transportation systems
4
In commercial real estate a free look period includes all but ...
Complete investigations before buyer risks of losing money
Opportunity to perform due diligence
Make changes to the contract
Check zoning
5
Roles of the property manager include all the following except...
reinvesting landlords money
maintaining premises
budgeting
planning
6
You set up a DBA but don't use your surname, what must you do?
Register with the Secretary of State only
Don't need to do anything
Register in each County Deeds and copy of certificate 2 REC
DBA is ok as long as you advertise that way
7
What happens if any broker forgets to renew their license?
All brokerage activities must stop.
You can continue, because you just forgot.
Cry and the BIC will forgive you.
You can continue as long as you pay late.
8
Manufactured Homes must comply with which standards?
EPA
HUD
National Building Code
State Building Code
9
All of these are important in Commercial Real Estate except for ...
Turkish Bathhouse
Contracts are not form driving, prepared by attorney.
Zoning
Leased properties
10
Commercial real estate can be characterized by all of the following except ...
Long Transaction Cycle
High Rate of Return
High Risk
Short Transaction Time
11
There are special provisions for Office Space including these except for ...
Pass through provisions
Pass through with base year stop
Rent accelerator provisions
Rent escalator provisions
12
You can't do this with a 1031 Like Kind Exchange...
purchase the replacement property within 180 days
identify the exchange property within 60 days
use it exclusively for investment property
Exchange one property for 3 properties
13
Office Space includes all of the following except ...
Usuable Area
Area devoted to lobbies
Core factor
Apple core
14
Market comprehension considers all the following except...
Demographics
Linkages
Water quality
Absorption
15
Who must apply for a firm license?
Entity Team within Firm
Brokers doing business under assumed name
Provisional brokers
Individual broker
16
What is a legal non-conforming use?
Any use that can be done in an area
A use that was permitted, then continued when zone changed
Misconception by the Town
Went on for 30 yrs, but wasn't zoned for it.
17
A property manager can do all except for ....
Manage the property
Keep accurate records
Invest the Landlords profits
Deal with Tenant Issues
18
When do Manufactured Homes become real property?
Put on a permanent foundation, no wheels, axel or VIN
When a mail box is constructed at the entry.
When the property deed is recorded.
When they are hooked up to water/sewer.
19
Financing for Commercial Property is usually by all of the following except...
LTV range of 60% to 80%
No government backed insurance
Loans made to entities rather than individuals
Most residential lenders
20
Special properties include ...
large apartment complexes
golf courses, sports facilities, churches ..
high rise office buildings
mixed use industrial property
21
It is past Due Diligence Date. Buyer Breaches. What does the buyer get back?
Earnest Money Deposit
Due Diligence Fee and Earnest Money Deposit
Nothing
Due Diligence Fee
22
These are all classifications of industrial property except ...
Large manufacturer
Skateboard park
Bulk warehouse
Multi-tenant industrial
23
You hire an assistant. What can they do?
Negotiate contracts
List property
Represent Buyer at an open house
Do record keeping and admin work
24
Fair housing includes all except...
Golf handicap
National Origin
Religion
Familia Status

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