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Valid NCREC-Broker-N Exam Forum & Sure NCREC-Broker-N Pass

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Valid NCREC-Broker-N Exam Forum & Sure NCREC-Broker-N Pass

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North Carolina Real Estate Commission NCREC-Broker-N Exam Syllabus Topics:
TopicDetails
Topic 1
  • National Portion: Core Concepts: This section of the exam measures the skills of broker candidates and focuses on the basic principles of real estate. It covers property ownership, forms of estates, property rights, and how interests are transferred. It also evaluates contracts, agency duties, and the role of brokers in maintaining lawful and ethical agreements. These core concepts ensure candidates understand the foundational rules of practice across the United States.
Topic 2
  • State Portion: Legal Framework: This section of the exam evaluates provisional brokers on the rules and statutes that apply specifically in North Carolina. It includes license law, the Real Estate Commission’s authority, and disciplinary procedures. It also covers how agency relationships must be created and disclosed under state law. These legal frameworks define the responsibilities and compliance requirements for practicing in the state.
Topic 3
  • National Portion: Applied Knowledge: This part of the exam measures the applied knowledge of broker candidates and emphasizes practical skills. It includes financing and valuation methods, market analysis, and understanding mortgage processes. Candidates are also tested on land use controls, zoning, environmental regulations, required disclosures, and common real estate calculations. This applied knowledge ensures brokers can handle real-world scenarios effectively.
Topic 4
  • State Portion: Practice and Procedures: This part of the exam measures the skills of provisional brokers in practical, day-to-day operations within North Carolina. It covers contracts and closing processes, use of state-specific forms, and procedures for managing transactions. It also includes state statutes on property transfers, landlord-tenant law, and fair housing requirements. This focus ensures provisional brokers can carry out transactions correctly within state guidelines.

North Carolina Real Estate Commission NC Real Estate Broker National Sample Questions (Q88-Q93):NEW QUESTION # 88
A week before closing, lightning struck the roof of the property being sold, doing about $5,000 in damage.
The seller and buyer agree to adjust the sales price accordingly and continue with the transaction. What should they do to document this mutual understanding?
  • A. Nothing; an oral agreement is sufficient
  • B. Draft a lis pendens
  • C. Execute a new purchase agreement
  • D. Prepare and sign an amendment
Answer: D
Explanation:
Any change to the terms of a binding real estate contract must be made in writing and signed by all parties. In this case, the original Offer to Purchase and Contract remains valid, and the parties are modifying the terms (adjusting the sales price due to damage). This should be documented using a formal amendment. Therefore, the correct answer is C.

NEW QUESTION # 89
When selling a house that was built before 1978, the seller is required to:
  • A. conduct an inspection for lead-based paint hazards.
  • B. pay for a lead-based paint risk assessment.
  • C. mitigate any lead-based paint hazards on the property.
  • D. give the buyer the opportunity to conduct their own lead paint inspection.
Answer: D
Explanation:
Under the federal Lead-Based Paint Hazard Reduction Act, for residential properties built before 1978, sellers must provide buyers with a lead-based paint disclosure, a copy of any existing reports, and a federally approved lead hazard information pamphlet. In addition, buyers must be given a 10-day period to conduct their own lead inspection or risk assessment (unless waived in writing). Sellers are not required to test or remediate. Therefore, the correct answer is B.
-

NEW QUESTION # 90
A homeowner has been trying to sell their house for some time, but buyers seem to be turned off by the odor from a nearby chicken farm. This is an example of:
  • A. functional obsolescence
  • B. physical deterioration
  • C. external obsolescence
  • D. economic depreciation
Answer: C
Explanation:
External obsolescence refers to a loss in property value caused by external factors beyond the property owner' s control. These could include undesirable neighboring properties, economic shifts, or environmental conditions. In this case, the unpleasant odor from the nearby chicken farm is an environmental factor reducing buyer interest. Therefore, the correct answer is B.

NEW QUESTION # 91
In North Carolina, which type of buyer agency agreement may be oral or written?
  • A. Nonexclusive buyer agency agreement for a fixed period of time
  • B. Exclusive buyer agency agreement for a fixed period of time
  • C. Nonexclusive buyer agency agreement that does not bind the buyer for a fixed period of time
  • D. Exclusive buyer agency agreement that does not bind the buyer for a fixed period of time
Answer: C
Explanation:
In North Carolina, a nonexclusive buyer agency agreement that does not include a specific time period can initially be oral. However, before writing or presenting any offers on behalf of the buyer, the agreement must be put into writing and signed. Exclusive buyer agency agreements and any agreement that includes a fixed term must be in writing from the beginning. Therefore, the correct answer is D.
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NEW QUESTION # 92
An investor bought a small office building for $500,000. They sold it 10 years later for $480,000. What is their percentage of loss?
  • A. 4.2%
  • B. 10.4%
  • C. 4%
  • D. 9.6%
Answer: C
Explanation:
To calculate the percentage of loss:
Loss = Original Price # Sale Price = $500,000 # $480,000 = $20,000
Percentage loss = ($20,000 ÷ $500,000) × 100 = 4%
Correct answer: A
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NEW QUESTION # 93
......
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