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As mentioned earlier, Actual4Dumps solves all problems that you face while locating updated NC Real Estate Broker National (NCREC-Broker-N) exam questions. We know that as an applicant for the test, you have excessive pressure to pass the North Carolina Real Estate Commission Certification Exam. Actual4Dumps is here to help you earn the highly sought-after NC Real Estate Broker National (NCREC-Broker-N) certification on the first attempt. Don't wait to get help from our North Carolina Real Estate Commission NCREC-Broker-N real exam dumps to crack the test quickly. You can better comprehend Actual4Dumps's NC Real Estate Broker National (NCREC-Broker-N) exam questions if you know about the three formats described here.
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Which statement about acknowledging a deed is TRUE?
A. A deed must be acknowledged to be valid.
B. A deed must be acknowledged to be recorded.
C. Acknowledging a deed requires the signature of the listing agent.
D. A deed must be acknowledged or the transaction cannot close.
Answer: B
Explanation:
In North Carolina, a deed must be in writing, signed by the grantor, and delivered to the grantee to be valid.
However, acknowledgment (notarization) is not required for validity-but it is required for the deed to be recorded at the county Register of Deeds. Recording provides constructive notice of ownership. Therefore, the correct answer is C.
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NEW QUESTION # 51
A buyer submits an offer to purchase a house, giving the listing broker an earnest money deposit to hold. The offer gives the seller four days to respond. The next day, the buyer changes their mind and contacts the listing broker to withdraw the offer and demand the earnest money back. The seller had not even had time to review the offer. Which statement is TRUE?
A. The buyer can get the earnest money back only if they make an offer on another property.
B. The buyer can withdraw the offer and get the earnest money back.
C. The buyer's offer must remain open for another three days.
D. The buyer can withdraw the offer, but they forfeit the earnest money.
Answer: B
Explanation:
An offer may be withdrawn at any time prior to acceptance and communication of that acceptance. Even if the offer specifies a time frame for response, it does not prevent the buyer from withdrawing it before acceptance.
Since the seller had not accepted the offer, the buyer has the legal right to withdraw and receive their earnest money back. Therefore, the correct answer is C.
NEW QUESTION # 52
Josh is a new North Carolina broker at Atlantic Realty. He just got his first listing and wrote the following ad:
"Charming seaside cottage. Call Broker Josh at 555-9876 for an appointment." Which statement about this ad copy is TRUE?
A. The ad must include an address for the property.
B. The ad is acceptable as written.
C. This is an example of an illegal blind ad.
D. The ad must include Josh's email address.
Answer: C
Explanation:
According to NCREC advertising rules, any advertisement by a broker must clearly identify the firm with which the broker is affiliated. Failing to do so results in what is considered a "blind ad," which is prohibited.
Josh's ad does not include his brokerage firm's name-Atlantic Realty-so it is a blind ad. Therefore, the correct answer is D.
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NEW QUESTION # 53
In the government survey system of legal description, the north-south lines and east-west lines intersect to create what?
A. Ranges
B. Tiers
C. Sections
D. Townships
Answer: D
Explanation:
In the rectangular (government) survey system, north-south lines (called principal meridians and range lines) and east-west lines (called base lines and township lines) intersect to form squares known as townships.
Townships are 6 miles by 6 miles and are further divided into 36 sections. Therefore, the correct answer is D
- townships.
NEW QUESTION # 54
What is the formula for calculating capital gain when a principal residence is sold?
A. Amount Realized - Adjusted Basis
B. Adjusted Basis / Amount Realized
C. Adjusted Basis - Amount Realized
D. Amount Realized + Adjusted Basis
Answer: A
Explanation:
Capital gain is determined by subtracting theadjusted basis(original cost plus improvements minus depreciation) from theamount realized(selling price minus selling costs). This matchesAmount Realized - Adjusted Basisas per the Broker#N Financing and Taxation section.
NEW QUESTION # 55
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