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North Carolina Real Estate Commission NC Real Estate Broker National Sample Questions (Q50-Q55):

NEW QUESTION # 50
If a seller whose property is currently listed with another company initiates a conversation with a broker about the possibility of the broker becoming their new listing agent, the broker:

A. may suggest that the seller terminate the current listing agreement early.
B. may not discuss the terms of any possible future listing agreement.
C. must advise the seller to contact an attorney.
D. may discuss the terms of a possible listing agreement that would begin after the current listing ends.

Answer: D

Explanation:
Under the NCREC Rules and Code of Ethics, a broker may not interfere with another firm's existing exclusive listing agreement. However, if a seller independently initiates a conversation, a broker is allowed to discuss the terms of a future agreement - but that agreement must begin only after the current listing expires.
The broker must not suggest early termination or breach of contract. Therefore, option A accurately reflects what is legally and ethically permissible.

NEW QUESTION # 51
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. $10,080
B. $20,160
C. $4,032
D. $8,064

Answer: D

Explanation:
Step 1: Determine assessed value
Market value = $630,000
Assessment rate = 50%
Assessed value = $630,000 × 0.50 = $315,000
Step 2: Calculate tax
Tax rate = $32 per $1,000
$315,000 ÷ $1,000 = 315
315 × $32 = $10,080
However, this result matches option C. Therefore:
Corrected Final answer: C. $10,080
Explanation Confirmed: Assessed value is 50% of $630,000 = $315,000. Tax at $32 per $1,000 means $315 ×
$32 = $10,080. Correct answer is C.

NEW QUESTION # 52
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. seller with a range of appropriate listing prices.
D. insurer with the estimated cost to rebuild the property.

Answer: C

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.
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NEW QUESTION # 53
Bernie is the broker-in-charge at a brokerage firm located in North Carolina. He is actively involved in listing and selling properties. Mei is a provisional broker at the same brokerage firm. She has a buyer client who has expressed interest in one of Bernie's listings. In this transaction, what would be a permissible agency arrangement?

A. Bernie would be the designated agent for both buyer and seller.
B. Bernie and Mei could act as dual agents to both clients.
C. Bernie and Mei would be designated agents of their respective clients.
D. Bernie and Mei each have a single agency relationship with their respective clients.

Answer: C

Explanation:
Under North Carolina agency rules,dual agencyis permissible only ifwritten informed consentis secured from both parties, and typically involvesdesignated agencyto avoid conflict of interest. Bernie could serve as thedesignated agentfor the seller (listing), and Mei could serve as thedesignated agentfor the buyer, each separately representing their client while the brokerage acts as dual agent at the firm level Option C accurately reflects this legal structure. Option A (non-designated dual agency) is rarely allowed, B leaves Bernie unrepresented for seller, and D improperly places one agent on both sides.

NEW QUESTION # 54
It would be considered the unauthorized practice of law for a North Carolina real estate broker to:

A. complete a preprinted offer or sales contract form that has been drafted by an attorney.
B. modify an electronically generated preprinted form by marking a change requested by a client.
C. refer a client to an attorney to draft an addendum if there are special contract provisions.
D. draft an addendum to an offer if there are any special contract provisions.

Answer: D

Explanation:
North Carolina brokers are permitted to complete preprinted, attorney-approved forms (like Standard Form 2- T) and make handwritten changes at the direction of clients. However, they may not draft legal language or new provisions-doing so constitutes the unauthorized practice of law. Brokers must refer clients to an attorney when custom provisions or legal interpretations are needed. Therefore, the correct answer is B.

NEW QUESTION # 55
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