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NCREC-Broker-N Practice Questions

NC Real Estate Broker National

Last Update 3 days ago
Total Questions : 125

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Question # 1

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

Options:

A.  

Anticipation

B.  

Contribution

C.  

Progression

D.  

Regression

Discussion 0
Question # 2

A local bank refuses to make residential loans in a particular section of town because of the ethnic background of its residents. This is a discriminatory practice called:

Options:

A.  

blockbusting

B.  

boycotting

C.  

redlining

D.  

steering

Discussion 0
Question # 3

A property manager receives a request from a prospective tenant to install grab bars in the showers and a handrail by the toilet to assist the tenant with their disability. According to the Fair Housing Act, what is the property manager required to do?

Options:

A.  

Allow the tenant to make the modifications at their expense

B.  

Make the requested modifications at the property owner's own expense

C.  

Raise the amount of the tenant's security deposit to pay for the modifications

D.  

Ask the tenant to provide proof from a doctor or physical therapist of their need

Discussion 0
Question # 4

A buyer's stable monthly income is $6,800. Every month they pay a $485 car payment, $200 in a revolving credit payment, and $1,500 in alimony. Using ratios of 31% and 43%, what is the maximum monthly mortgage payment they would qualify for on an FHA-insured mortgage loan?

Options:

A.  

$739

B.  

$1,763

C.  

$1,972

D.  

$2,108

Discussion 0
Question # 5

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:

Options:

A.  

age.

B.  

familial status.

C.  

marital status.

D.  

military status.

Discussion 0
Question # 6

A seller discusses listing their home with a broker. The seller tells the broker that when the house sells, the seller wants $200,000 in their pocket at closing, and the listing brokerage can keep any amount beyond that as their commission. What does this scenario describe?

Options:

A.  

Exclusive agency listing

B.  

Exclusive right to sell listing

C.  

Net listing

D.  

Open listing

Discussion 0
Question # 7

In residential construction, building a concrete foundation directly on the ground is called:

Options:

A.  

pier and beam construction

B.  

platform construction

C.  

post and beam construction

D.  

slab-on-grade construction

Discussion 0
Question # 8

A buyer bought a house on an installment land contract, also called a contract for deed. Which statement about this transaction is TRUE?

Options:

A.  

The buyer cannot live at the property until the seller is paid the full sales price.

B.  

The buyer holds equitable title to the property.

C.  

The buyer will receive legal title to the property immediately.

D.  

The buyer is financing only the purchase of the land, not the house.

Discussion 0
Question # 9

A North Carolina broker has been practicing real estate for 10 years for a firm in Asheville. The broker just bought a home on Oak Island and would like to split their time between the mountains and the shore. Under what circumstances could the broker affiliate with two different brokers-in-charge?

Options:

A.  

If the broker gets the express consent of both brokers-in-charge

B.  

If the broker limits their practice to commercial transactions

C.  

If the broker operates as a sole proprietorship

D.  

Under no circumstances

Discussion 0
Question # 10

A North Carolina broker has been designated as the broker-in-charge (BIC) at a brokerage firm. This means that the broker:

Options:

A.  

can appoint a second BIC to help in the office.

B.  

can supervise both the main office and one or more branch offices.

C.  

must be the owner of the brokerage firm.

D.  

must supervise all provisional brokers in the office.

Discussion 0
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