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[Hardware] NCREC-Broker-N Valid Exam Syllabus - Test NCREC-Broker-N Pattern

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【Hardware】 NCREC-Broker-N Valid Exam Syllabus - Test NCREC-Broker-N Pattern

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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
  • 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.
Topic 4
  • 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.

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North Carolina Real Estate Commission NC Real Estate Broker National Sample Questions (Q35-Q40):NEW QUESTION # 35
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. 10.4%
  • B. 4.2%
  • C. 9.6%
  • D. 4%
Answer: D
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
-

NEW QUESTION # 36
The property manager of an apartment building would be in violation of the federal Fair Housing Act if they discriminated against a prospective tenant on the basis of:
  • A. age.
  • B. familial status.
  • C. marital status.
  • D. military status.
Answer: B
Explanation:
The federal Fair Housing Act prohibits discrimination based on race, color, religion, sex, national origin, disability, and familial status. Familial status includes pregnant women and families with children under 18.
Age and military status are not federally protected classes under this law (though they may be under local ordinances). Marital status is not a protected class under federal law either. Therefore, the correct answer is B.
-
-

NEW QUESTION # 37
Bernie is the broker-in-charge at a brokerage firm located in North Carolina. He is actively involved in listing and selling properties. Mei is a provisional broker at the same brokerage firm. She has a buyer client who has expressed interest in one of Bernie's listings. In this transaction, what would be a permissible agency arrangement?
  • A. Bernie and Mei would be designated agents of their respective clients.
  • B. Bernie and Mei could act as dual agents to both clients.
  • C. Bernie and Mei each have a single agency relationship with their respective clients.
  • D. Bernie would be the designated agent for both buyer and seller.
Answer: A
Explanation:
Under North Carolina agency rules,dual agencyis permissible only ifwritten informed consentis secured from both parties, and typically involvesdesignated agencyto avoid conflict of interest. Bernie could serve as thedesignated agentfor the seller (listing), and Mei could serve as thedesignated agentfor the buyer, each separately representing their client while the brokerage acts as dual agent at the firm level Option C accurately reflects this legal structure. Option A (non-designated dual agency) is rarely allowed, B leaves Bernie unrepresented for seller, and D improperly places one agent on both sides.

NEW QUESTION # 38
Which situation would be an appropriate use of an expedited eviction process in North Carolina?
  • A. A tenant has filed a false complaint with a local housing authority.
  • B. A residential tenant has not paid the rent in more than two months.
  • C. A tenant in a two-week vacation rental has breached the rental agreement.
  • D. A tenant has been arrested on a charge of domestic violence.
Answer: C
Explanation:
Under NC General Statutes Chapter 42A (Vacation Rental Act), a landlord may employ theexpedited eviction process(using magistrate and four-hour notice) when a tenant under a vacation rental agreement (30 days or fewer) breaches the contract-such as overstaying, failing to pay rent, or materially violating terms. A two-week vacation rental falls under this provisionsog.unc.edufairhousingnc.org+14ncleg.gov+14nclamp.
gov+14fairhousingnc.org. Option A is standard eviction, not expedited; B and C don't qualify under expedited procedures.

NEW QUESTION # 39
The owner of a house located in North Carolina sold it to a buyer for $523,400. The buyer finances $418,700 and makes a down payment of $104,700. At settlement, what is the required excise (transfer) tax, and who pays it?
  • A. $838.00, paid by the buyer
  • B. $1,047.00, paid by the seller
  • C. $1,046.80, paid by the buyer
  • D. $523.40, paid by the seller
Answer: B
Explanation:
In North Carolina, the excise (transfer) tax is calculated at a rate of $1 per $500 of the sale price, rounded down to the nearest $500. For a sale price of $523,400:
Round down to nearest $500 # $523,000
$523,000 ÷ $500 = 1,046
1,046 × $1 = $1,046 excise tax
However, excise tax in NC is typically paid by the seller. Therefore, the correct answer is D: $1,047.00 paid by the seller (slightly rounded up as per state recording practice).

NEW QUESTION # 40
......
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