Free North Carolina Real Estate Commission NCREC-Broker-N Exam Questions

Question 1

What principle states that the value of the best home in a neighborhood will be lowered by the existence of inferior homes?

A : Anticipation

B : Contribution

C : Progression

D : Regression

Answer: D

Question 2

A listing broker receives a signed offer from a buyer. Although the broker must present the offer to the seller as soon as possible, under the North Carolina Real Estate Commission Rules, the broker must present the offer:

A : within 24 hours.

B : before the end of the next business day.

C : within 2 days.

D : within 3 days.

Answer: B

Question 3

A loan is set up so that the borrower's loan payments are for the same amount each month. A portion of each payment goes to interest, and a portion goes to principal, and the loan balance will be zero at the end of the loan term. Which type of loan is this?

A : Fully amortizing

B : Negatively amortizing

C : Partially amortizing

D : Straight amortizing

Answer: A

Question 4

A listing broker receives a signed offer from a buyer. Although the broker must present the offer to the seller as soon as possible, under the North Carolina Real Estate Commission Rules, the broker must present the offer:

A : within 24 hours.

B : before the end of the next business day.

C : within 2 days.

D : within 3 days.

Answer: B

Question 5

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 must include Josh's email address.

C : The ad is acceptable as written.

D : This is an example of an illegal blind ad.

Answer: D