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North Carolina Real Estate Commission NCREC-Broker-N Exam Syllabus Topics:

Topic
Details

Topic 1

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 2

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 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: 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.

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North Carolina Real Estate Commission NC Real Estate Broker National Sample Questions (Q19-Q24):

NEW QUESTION # 19
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. marital status.
C. familial status.
D. military status.

Answer: C

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.
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NEW QUESTION # 20
When submitting an offer, a buyer handed their broker an earnest money deposit in cash. To comply with the North Carolina Real Estate Commission Rules, what must the broker do?

A. Turn the money over to the listing broker within 24 hours of receipt
B. Ensure the cash is locked in a safe place until the offer is accepted
C. Not accept the cash and ask the buyer to write a check instead
D. Deposit the cash into the brokerage trust account within three banking days of receipt

Answer: D

Explanation:
Under NCREC rules, a broker must deposit any earnest money received (including cash) into the firm's trust account within three banking days of receipt if the offer has been accepted. If the offer has not yet been accepted, the funds must be safeguarded and then deposited within three banking days following acceptance.
Cash must be treated with particular care, and a detailed receipt should be provided. Therefore, the correct answer is C.
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NEW QUESTION # 21
According to the North Carolina Tenant Security Deposit Act, if a tenant signs a one-year lease to rent a single-family home for $1,500 a month, what is the most the property owner can charge the tenant as a security deposit?

A. $3,000
B. $750
C. $1,500
D. $2,250

Answer: D

Explanation:
Under the NC Tenant Security Deposit Act, for leases longer than month-to-month, landlords may charge a maximum security deposit equal to two months' rent. In this case:
$1,500 × 2 = $3,000 maximum allowed.
However, the correct answer option closest to this is C: $2,250. Let's re-check.
Upon review:
If the lease is longer than month-to-month (e.g., annual lease), the maximum deposit is 2 months' rent:
$1,500 × 2 = $3,000 # Correct answer is D.

NEW QUESTION # 22
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. Straight amortizing
B. Partially amortizing
C. Fully amortizing
D. Negatively amortizing

Answer: C

Explanation:
A fully amortizing loan is one in which the borrower makes equal monthly payments over the loan term, with a portion of each payment applied to interest and the remainder to principal. By the end of the loan term, the entire balance is paid off. Therefore, the correct answer is A - fully amortizing.
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NEW QUESTION # 23
When must a North Carolina broker provide a copy of the Working With Real Estate Agents (WWREA) Disclosure to a prospective buyer or seller?

A. At the first substantial contact
B. No later than when an offer is submitted
C. At the very first contact
D. Within 24 hours of the first substantial contact

Answer: A

Explanation:
Under NCREC rules, the Working With Real Estate Agents Disclosure must be presented and reviewed with a prospective buyer or seller at the first substantial contact. "Substantial contact" occurs when conversations begin to include personal, financial, or confidential information. It does not have to be tied to signing an agreement or making an offer. Therefore, the correct answer is B.
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NEW QUESTION # 24
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Hugh Ross Hugh Ross

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