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[General] Exam NCREC-Broker-N Dump - NCREC-Broker-N Vce Free

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【General】 Exam NCREC-Broker-N Dump - NCREC-Broker-N Vce Free

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In actuality, the test center around the material is organized flawlessly for self-review considering the way that the competitors who are working in North Carolina Real Estate Commission working conditions don't get the sufficient opportunity to go to classes for NC Real Estate Broker National certification. Thusly, they need to go for self-study and get the right test material to fire scrutinizing up for the NC Real Estate Broker National (NCREC-Broker-N) exam. By utilizing North Carolina Real Estate Commission NCREC-Broker-N dumps, they shouldn't stress over any additional assistance with that.
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: 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 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: 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.

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North Carolina Real Estate Commission NC Real Estate Broker National Sample Questions (Q83-Q88):NEW QUESTION # 83
Which statement about a North Carolina broker-in-charge (BIC) is TRUE?
  • A. A broker-in-charge can serve in that capacity in multiple brokerage offices at different locations.
  • B. A brokerage office can designate only one broker-in-charge.
  • C. To qualify for BIC Eligible status, a broker must complete a 24-hour course offered by the Real Estate Commission.
  • D. To qualify for BIC Eligible status, a broker must have three years of full-time brokerage experience in the previous five years.
Answer: D
Explanation:
To qualify for Broker-in-Charge Eligible status in North Carolina, a broker must have at least three years of full-time brokerage experience (or equivalent part-time experience) within the past five years. Additionally, they must complete the 12-hour Broker-in-Charge Course. Option B is incorrect due to the course length (not
24 hours), and option D is incorrect because a broker-in-charge can only manage one physical office location.
Option C is incorrect as branch offices may also have a separate BIC. Therefore, A is the correct answer.
-

NEW QUESTION # 84
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. $1,046.80, paid by the buyer
  • B. $523.40, paid by the seller
  • C. $838.00, paid by the buyer
  • D. $1,047.00, paid by the seller
Answer: D
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 # 85
Which is the correct formula for finding the value of a property using a capitalization rate?
  • A. Rate / Net Operating Income = Value
  • B. Net Operating Income × Rate = Value
  • C. Potential Gross Income / Rate = Value
  • D. Net Operating Income / Rate = Value
Answer: D
Explanation:
In the income approach to real estate valuation, the formula used is:
Value = Net Operating Income (NOI) ÷ Capitalization Rate
This method estimates the value of an income-producing property based on its ability to generate income.
Using this formula, you divide the NOI by the cap rate to find the value. Gross income is not used without adjustments, and multiplication or inverting the formula is incorrect. Therefore, the correct answer is B.
-

NEW QUESTION # 86
A salaried employee of a North Carolina brokerage firm that practices property management must have a real estate license if they perform which task?
  • A. Negotiating the amount of a security deposit
  • B. Completing a preprinted lease contract
  • C. Accepting applications for a lease
  • D. Showing apartment units to prospective tenants
Answer: A
Explanation:
In North Carolina, salaried employees working under a licensed brokerage or property management firm may engage in certain administrative or ministerial tasks without a real estate license-such as showing rental units, collecting rent, and accepting applications. However, negotiating lease terms or the amount of a security deposit involves brokerage-level activity and requires a real estate license. Therefore, the correct answer is C.
-

NEW QUESTION # 87
An appraiser estimates that it would cost $598,720 to rebuild the subject house. Now what must the appraiser do to arrive at an opinion of value for the property using the cost approach?
  • A. Subtract depreciation and add labor costs
  • B. Subtract land value and depreciation
  • C. Subtract depreciation and add land value
  • D. Add land value and labor costs
Answer: C
Explanation:
The cost approach to value involves three primary steps: (1) estimate the replacement or reproduction cost of the improvements, (2) subtract accrued depreciation, and (3) add the market value of the land. In this case, the appraiser has already estimated the cost to rebuild the structure. The next steps are to subtract any depreciation from the improvements and then add the land value to derive the final opinion of value. Labor costs are already factored into the reconstruction estimate and are not added again.
-

NEW QUESTION # 88
......
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