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

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?

• A.If the broker gets the express consent of both brokers-in-charge
• B.If the broker limits their practice to commercial transactions
• C.Under no circumstances
• D.If the broker operates as a sole proprietorship

After taking a listing on a property, a broker learns of major highway changes in the area. The broker should disclose this information:

• A.as a material fact to all transactional parties.
• B.as a material fact to all transactional parties but only if the changes will be completed within a year.
• C.to the buyer but only if the seller agrees to the disclosure.
• D.to the buyer but only if the buyer asks about it.

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?

• A.Raise the amount of the tenant's security deposit to pay for the modifications
• B.Ask the tenant to provide proof from a doctor or physical therapist of their need
• C.Make the requested modifications at the property owner's own expense
• D.Allow the tenant to make the modifications at their expense

Which statement about a mortgagee's title insurance policy is TRUE?

• A.It protects the lender against defects in the title.
• B.The policy premium is usually added to the monthly mortgage amount.
• C.Coverage never expires as long as the buyer owns the property.
• D.The amount paid on a claim equals the original loan amount.

Property in Town A is assessed at 50% of market value. The property tax rate is $32 per $1,000. If the market value of a home is $630,000, what is the annual tax assessment?

• A.$20,160
• B.$10,080
• C.$8,064
• D.$4,032