Top North Carolina Real Estate Commission NCREC-Broker-N Courses Online - Updated [Jun-2026]
NCREC-Broker-N Practice Dumps - Verified By DumpExam Updated 127 Questions
North Carolina Real Estate Commission NCREC-Broker-N Exam Syllabus Topics:
| Topic | Details |
|---|---|
| Topic 1 |
|
| Topic 2 |
|
| Topic 3 |
|
| Topic 4 |
|
NEW QUESTION # 28
A property owner gave a five-acre parcel of land to a church as long as the church does not build a parking lot on it. What kind of estate does the church have for this property?
- A. Fee simple absolute
- B. Conventional life estate
- C. Defeasible fee estate
- D. Life estate pur autre vie
Answer: C
Explanation:
A defeasible fee estate (specifically, a fee simple determinable or fee simple subject to a condition subsequent) is one that may be voided if a specific condition is violated or a required event does not occur. In this case, the condition is that the church cannot build a parking lot. If it does, ownership may revert to the grantor. Therefore, the correct answer is B.
-
NEW QUESTION # 29
What duty does a North Carolina real estate broker have related to material facts?
- A. An affirmative duty to discover and disclose material facts to all parties
- B. A duty to disclose known material facts to their clients only but no affirmative duty to discover material facts
- C. A duty to disclose known material facts to all parties but no affirmative duty to discover material facts
- D. An affirmative duty to discover and disclose material facts to their clients only
Answer: A
Explanation:
NC brokers are bound by an affirmative duty to both discover and disclose material facts to all parties in a transaction, not just their clients. This includes facts they know or should reasonably know, such as structural defects, zoning violations, or environmental issues. This duty exists regardless of whom the broker represents.
Therefore, option A is correct.
-
NEW QUESTION # 30
Friends Jack, Jill, and Harold bought a warehouse property in North Carolina, and the deed simply stated, "as joint tenants." Assuming Harold had a will when he died, who got his share of the warehouse?
- A. Jack and Jill
- B. It's up to the court to decide
- C. Harold's spouse
- D. Harold's heirs
Answer: A
Explanation:
In North Carolina, joint tenancy includes the right of survivorship unless otherwise stated. If a deed says "as joint tenants," and right of survivorship is implied or established, then Harold's share automatically passes to the surviving joint tenants (Jack and Jill), regardless of Harold's will. Since nothing indicates the tenancy was anything other than traditional joint tenancy with survivorship, Jack and Jill receive Harold's share.
-
NEW QUESTION # 31
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. Implied and executory
- B. Implied and executed
- C. Express and executory
- D. Express and executed
Answer: C
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 # 32
Under the provisions of the federal Truth in Lending Act (TILA) and Real Estate Settlement Procedures Act (RESPA), a lender must provide a borrower with the Closing Disclosure at least _________ prior to loan consummation.
- A. 7 calendar days
- B. 3 business days
- C. 3 calendar days
- D. 1 business day
Answer: B
Explanation:
TILA-RESPA Integrated Disclosure rules (TRID) require that theClosing Disclosurebe delivered to the consumerno later than 3 business days before consummationof the loan. This mandates a three-business- day review period for borrowers before finalizing the loan-makingoption Bcorrect.
NEW QUESTION # 33
A prospective buyer offers to buy a house for $415,000, with an earnest money deposit of $1,000. The seller crosses out the earnest money amount, changes it to $4,000, initials and dates the change, signs the offer, and returns it to the buyer. Which of the following statements is TRUE?
- A. The seller has rejected the original offer and made a counteroffer.
- B. Because the seller changed only the earnest money amount and not the price, the offer was accepted as soon as the seller signed it.
- C. If the buyer rejects the change, the seller can accept the buyer's original offer.
- D. Because the seller changed only the earnest money amount and not the price, the offer was accepted when the seller notified the buyer.
Answer: A
Explanation:
Any change to the terms of an offer-regardless of how small-constitutes a rejection of the original offer and the creation of a counteroffer. In this case, the seller changed the earnest money amount, which is a material term of the offer. Therefore, the original offer is void and the seller has made a counteroffer that the buyer can now accept or reject. Correct answer: D.
-
NEW QUESTION # 34
A prospective buyer, who just moved to town from Venezuela, asks their buyer agent to show them houses only in Latino neighborhoods. If the buyer agent complies with the buyer's directions, the agent could be guilty of:
- A. redlining
- B. blockbusting
- C. pandering
- D. steering
Answer: D
Explanation:
Steering is the illegal practice of guiding prospective buyers toward or away from certain neighborhoods based on race, ethnicity, religion, or other protected characteristics. Even if the request comes from the buyer, complying with such directions violates the Fair Housing Act. The correct answer is D - steering.
-
NEW QUESTION # 35
A North Carolina broker has been designated as the broker-in-charge (BIC) at a brokerage firm. This means that the broker:
- A. must be the owner of the brokerage firm.
- B. must supervise all provisional brokers in the office.
- C. can appoint a second BIC to help in the office.
- D. can supervise both the main office and one or more branch offices.
Answer: B
Explanation:
In North Carolina, theBroker#In#Charge (BIC)is responsible for supervisingall provisional brokersand ensuring they adhere to Commission rules. While a BIC may also supervise branch offices if appointed, the core statutory duty is direct supervision of licensed provisional brokers . Therefore,Option Dis the most accurate.
NEW QUESTION # 36
What are the four elements of value that must exist in harmony to maximize the value of real property?
- A. Uniqueness, immobility, indestructibility, and demand
- B. Demand, utility, scarcity, and transferability
- C. Right of use, enjoyment, exclusivity, and disposal
- D. Immobility, scarcity, transferability, and demand
Answer: B
Explanation:
The four economic characteristics necessary for real property to have value are:
Demand: There must be a desire or need for the property.
Utility: The property must serve a purpose or satisfy a need.
Scarcity: There must be a limited supply of similar properties.
Transferability: The ownership rights must be transferable from one party to another.
These four components form the acronym DUST and are foundational in property valuation. The correct answer is A.
-
NEW QUESTION # 37
The primary purpose of a comparative market analysis of real property is to provide a(n):
- A. appraiser with a thorough picture of the current economic market.
- B. lender with the appropriate market value of the collateral.
- C. insurer with the estimated cost to rebuild the property.
- D. seller with a range of appropriate listing prices.
Answer: D
Explanation:
A Comparative Market Analysis (CMA) is a tool used by real estate brokers to estimate the probable selling price of a property based on recently sold, active, and expired listings of similar properties. The primary purpose is to assist a seller in determining a reasonable and competitive listing price. Unlike a formal appraisal, a CMA is not intended for use by appraisers, insurers, or lenders. Therefore, the correct answer is C.
-
NEW QUESTION # 38
In North Carolina, which lien has the highest priority when property is sold to recover a debt?
- A. Mortgage lien
- B. Judgment lien
- C. Ad valorem property tax lien
- D. Whichever lien was recorded first
Answer: C
Explanation:
In North Carolina, and in most states, ad valorem (real estate) property tax liens have "superior lien" status.
They take precedence over all other liens, regardless of recording date. This includes mortgage liens and judgment liens. Therefore, even if a mortgage was recorded first, a property tax lien takes priority. Correct answer: A.
-
NEW QUESTION # 39
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 land value and depreciation
- B. Add land value and labor costs
- C. Subtract depreciation and add land value
- D. Subtract depreciation and add 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 # 40
Which of the following actions by a listing broker is an example of willful misrepresentation?
- A. Misunderstanding the zoning ordinance for a property
- B. Accidentally providing incorrect square footage of a property
- C. Deliberately hiding structural damage from a buyer
- D. Forgetting to disclose a minor repair needed in the property
Answer: C
Explanation:
Willful misrepresentation occurs when a broker knowingly provides false information or deliberately conceals material facts. Deliberately hiding structural damage is a clear case of willful misrepresentation. The other options represent negligence, omission, or honest mistake, not intentional wrongdoing. Correct answer: B.
-
NEW QUESTION # 41
A buyer signs a contract to purchase a 10-year-old unit in a condominium community. Under the provisions of the North Carolina Condominium Act, how many days does the buyer have to rescind the contract?
- A. 7 days
- B. The buyer has no such right to cancel the contract.
- C. 5 days
- D. 3 days
Answer: B
Explanation:
Under theNorth Carolina Condominium Act (N.C.G.S. Chapter 47C), the buyer of a condominium unit has a7-day right of rescission only for new condominiums, meaning units offered for sale in a project not yet completed or occupied. For units in a condominium community that are more than one year old,there is no statutory right to rescind the contractonce signed. Since this is a 10-year-old unit, the buyer doesnot have a rescission period.
Reference:
N.C.G.S. § 47C-3-107 (Right of Rescission for New Condominiums)
NCREC Broker National (Broker-N) Compliance Guide, Section on Condominium Transactions and Buyer Protections NC Real Estate Commission Legal Bulletin: Condominium Rescission Rights, 2023 Therefore, the buyer hasno right to cancelthe contract based solely on the Condominium Act for this 10-year- old unit.
NEW QUESTION # 42
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?
- A. Open listing
- B. Exclusive right to sell listing
- C. Net listing
- D. Exclusive agency listing
Answer: C
Explanation:
In a net listing, the seller agrees to receive a fixed amount from the sale, and the broker retains any amount above that as commission. Net listings are legal but discouraged and closely regulated in North Carolina due to the potential for conflicts of interest and ethical concerns. The broker must disclose the actual selling price and ensure the arrangement is fully transparent. Therefore, the correct answer is C.
NEW QUESTION # 43
......
New (2026) North Carolina Real Estate Commission NCREC-Broker-N Exam Dumps: https://www.dumpexam.com/NCREC-Broker-N-valid-torrent.html
Updated NCREC-Broker-N Exam Dumps - PDF Questions and Testing Engine: https://drive.google.com/open?id=1ZLZ9B4tFrx09jCq0kOsB_7phn1KuZJXB
