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2025 North Carolina Real Estate Commission NCREC-Broker-N: Unparalleled Exam NC Real Estate Broker National Price
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North Carolina Real Estate Commission NC Real Estate Broker National Sample Questions (Q50-Q55):
NEW QUESTION # 50
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. Showing apartment units to prospective tenants
- C. Accepting applications for a lease
- D. Completing a preprinted lease contract
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.
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NEW QUESTION # 51
A homeowner signs a contract with a broker stating that the homeowner will pay the broker a commission if the broker finds a ready, willing, and able buyer for the house in the next 60 days. What is the BEST way to describe this contract as of the day they sign it?
- A. Express and executory
- B. Implied and executed
- C. Implied and executory
- D. Express and executed
Answer: A
Explanation:
This is anexpresscontract because terms are clearly stated, andexecutorybecause performance (finding a buyer) is yet to occur. It is not executed until the broker succeeds. Thus, it's anexpress, executorycontract as defined in contract law and Broker#N study materials.
NEW QUESTION # 52
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 could act as dual agents to both clients.
- B. Bernie and Mei would be designated agents of their respective 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: B
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 # 53
The owner of a cooperative unit has which of the following rights in the property?
- A. A fee simple interest in the unit combined with occupancy rights for a specified recurring period annually
- B. A fee simple interest in the unit and a proportional interest in common areas based on unit size
- C. A proprietary lease for the exclusive use of the unit and shares of stock in the corporation that owns the property
- D. A fee simple interest in the unit and an undivided common interest in common areas
Answer: C
Explanation:
In a cooperative (co-op) ownership arrangement, the real estate is owned by a corporation. Individual residents do not own their units as real property. Instead, they own shares of stock in the corporation and receive a proprietary lease, which gives them the right to occupy a specific unit. This contrasts with condominium ownership, where unit owners hold fee simple title. Therefore, the correct answer is D.
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NEW QUESTION # 54
A real estate broker has assisted an investor with the purchase of a number of commercial properties. The investor will be out of the country for part of the year and asks the broker to manage all aspects of those properties during that time, including advertising and leasing. The real estate broker will be considered a(n):
- A. ostensible agent
- B. special agent
- C. general agent
- D. universal agent
Answer: C
Explanation:
A general agent is authorized to handle a broad range of matters for a client, such as property management or handling day-to-day operations of a business or estate. In this case, the broker is managing all aspects of the investor's real estate portfolio, which qualifies as a general agency relationship. A special agent performs only specific tasks (like listing or selling a single property), and a universal agent has unlimited authority, which is rare. Therefore, the correct answer is B.
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NEW QUESTION # 55
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