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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: 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.
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: 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.

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North Carolina Real Estate Commission NC Real Estate Broker National Sample Questions (Q21-Q26):

NEW QUESTION # 21
Which of the following entities would participate in the primary market for mortgage lending?

A. Federal National Mortgage Association
B. Commercial bank
C. Federal Housing Administration
D. Federal Home Loan Mortgage Corporation

Answer: B

Explanation:
The primary mortgage market is where loans are originated. Lenders such as commercial banks, credit unions, mortgage bankers, and savings institutions interact directly with borrowers. The Federal Home Loan Mortgage Corporation (Freddie Mac) and Federal National Mortgage Association (Fannie Mae) operate in the secondary market, purchasing existing loans. The Federal Housing Administration (FHA) insures loans but does not lend directly. Therefore, the correct answer is A.
-

NEW QUESTION # 22
If a buyer defaults on a purchase agreement just prior to settlement, what clause in the contract would likely allow the seller to keep the earnest money deposit?

A. Punitive damages
B. Liquidated damages
C. Actual damages
D. Compensatory damages

Answer: B

Explanation:
Liquidated damages refer to a pre-agreed amount of compensation (often the earnest money deposit) that one party is entitled to retain in the event the other party breaches the contract. In North Carolina, the standard Offer to Purchase and Contract includes provisions stating that if a buyer breaches after due diligence, the seller may retain the earnest money as liquidated damages. Therefore, the correct answer is C.
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NEW QUESTION # 23
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. The buyer has no such right to cancel the contract.
B. 5 days
C. 7 days
D. 3 days

Answer: A

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 # 24
The owner of a lot that is 99 feet by 110 feet would like to sell it. Similar properties sell for $180,000 per acre.
What is the likely selling price for this property?

A. $45,000
B. $54,450
C. $90,000
D. $60,000

Answer: B

Explanation:
To find the likely selling price, first calculate the lot size in acres:
Lot size in square feet = 99 ft × 110 ft = 10,890 sq ft
1 acre = 43,560 sq ft
Lot size in acres = 10,890 ÷ 43,560 # 0.25 acres
Now, multiply the lot size by the price per acre:
0.25 acres × $180,000 per acre = $45,000
However, option A is $45,000 but answer given is B $54,450- why?
If the question assumes a different calculation like adding some premium or slightly different acre conversion, the closest and most reasonable answer based on exact acreage and price is $45,000 (Option A).
But considering typical NC REALTOR pricing calculations, they might use:
99 ft × 110 ft = 10,890 sq ft
Convert to acres = 10,890 ÷ 43,560 # 0.25 acres
$180,000 × 0.25 = $45,000
So the correct answer should beA. $45,000.
Reference:
NCREC Broker National (Broker-N) Study Guide, Section on Pricing and CMA Calculations NC Real Estate Commission-approved pricing methods NC REALTOR CMA Training Materials

NEW QUESTION # 25
Which statement about postlicensing education requirements for North Carolina provisional brokers is TRUE?

A. A new provisional broker has two years to complete the required postlicensing education.
B. The required postlicensing education program consists of three 30-hour courses.
C. If a provisional broker does not complete the required postlicensing education, their license is revoked.
D. The required postlicensing education must be completed before a provisional broker license can be activated.

Answer: B

Explanation:
North Carolina provisional brokers are required to complete three postlicensing courses, each 30 hours in length, for a total of 90 hours. These must be completed within 18 months of licensure. Failure to complete these results in the license status being changed to inactive-not revoked. Additionally, postlicensing is not required to activate a license initially, but must be completed to remove the "provisional" status. Therefore, the correct answer is C.

NEW QUESTION # 26
......

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NCREC-Broker-N Actual Tests & Latest NCREC-Broker-N Dumps Book

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

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North Carolina Real Estate Commission NC Real Estate Broker National Sample Questions (Q21-Q26):

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