Online Access Free NCREC-Broker-N Exam Questions

A North Carolina broker has been practicing real estate for 10 years for a firm in Asheville. The broker just bought a home on Oak Island and would like to split their time between the mountains and the shore. Under what circumstances could the broker affiliate with two different brokers-in-charge?

• A.If the broker gets the express consent of both brokers-in-charge
• B.If the broker limits their practice to commercial transactions
• C.If the broker operates as a sole proprietorship
• D.Under no circumstances

What duty does a North Carolina real estate broker have related to material facts?

• A.A duty to disclose known material facts to all parties but no affirmative duty to discover material facts
• B.An affirmative duty to discover and disclose material facts to their clients only
• C.A duty to disclose known material facts to their clients only but no affirmative duty to discover material facts
• D.An affirmative duty to discover and disclose material facts to all parties

Which situation would be an appropriate use of an expedited eviction process in North Carolina?

• A.A residential tenant has not paid the rent in more than two months.
• B.A tenant in a two-week vacation rental has breached the rental agreement.
• C.A tenant has been arrested on a charge of domestic violence.
• D.A tenant has filed a false complaint with a local housing authority.

At a minimum, how many members of the North Carolina Real Estate Commission are required to be active real estate brokers?

• A.5 members
• B.9 members
• C.7 members
• D.3 members

Under the North Carolina Timeshare Act, a timeshare developer must allow a buyer to cancel a purchase contract without penalty for how long after signing the contract?

• A.3 days
• B.Under the law, there is no right of cancellation
• C.10 days
• D.5 days