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North Carolina Real Estate Commission NC Real Estate Broker National Sample Questions (Q115-Q120):

NEW QUESTION # 115
To equalize each comparable property to the subject property when performing the sales comparison approach, the appraiser should make adjustments to:

A. both the subject and comparable properties.
B. only the subject property.
C. only the comparable properties.
D. the property being appraised.

Answer: C

Explanation:
In the sales comparison approach, appraisers always make adjustments to the comparable properties - never to the subject property - to reflect how they differ from the subject. This ensures that all comparables are on an equal footing with the subject being appraised. Thus, answer B is correct.

NEW QUESTION # 116
According to the North Carolina Real Estate Commission Rules, a broker must deliver a copy of any signed purchase agreement to their client or customer within ____ of receipt.

A. 3 days
B. 4 days
C. 2 days
D. 24 hours

Answer: D

Explanation:
NCREC rules require that brokers deliver a copy of any executed (signed) document to all parties within 3 calendar days. However, a stricter rule applies to offers and contracts: any signed agency agreement or sales contract must be delivered within 3 days, and any executed offer must be delivered "immediately, but in no case later than 3 days." Best practice-and NCREC recommendation-is within 24 hours. Therefore, the most accurate and safe answer is A.
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NEW QUESTION # 117
A North Carolina broker just received an offer to purchase a home they have listed. According to the North Carolina Real Estate License Law and the Real Estate Commission Rules, the broker must present the offer to the seller immediately but no later than:

A. 3 business days of receipt.
B. 3 calendar days of receipt.
C. 1 business day of receipt.
D. 24 hours of receipt.

Answer: B

Explanation:
According to the North Carolina Real Estate Commission Rules, a broker must present all offers
"immediately, but in no event later than three calendar days from the date of receipt." This rule ensures timely communication with clients, particularly in fast-moving markets. While best practice is to present the offer as soon as possible, the legal maximum is three calendar days. Therefore, the correct answer is D.
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NEW QUESTION # 118
A salaried employee of a North Carolina brokerage firm that practices property management must have a real estate license if they perform which task?

A. Negotiating the amount of a security deposit
B. Completing a preprinted lease contract
C. Showing apartment units to prospective tenants
D. Accepting applications for a lease

Answer: A

Explanation:
In North Carolina, salaried employees working under a licensed brokerage or property management firm may engage in certain administrative or ministerial tasks without a real estate license-such as showing rental units, collecting rent, and accepting applications. However, negotiating lease terms or the amount of a security deposit involves brokerage-level activity and requires a real estate license. Therefore, the correct answer is C.
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NEW QUESTION # 119
Which of the following BEST describes a seller's market?

A. Sellers often receive multiple offers on their property.
B. Buyers have more negotiating power.
C. Home prices are generally falling.
D. There are more sellers than buyers.

Answer: A

Explanation:
A "seller's market" occurs whendemand exceeds supply, resulting in strong buyer competition. The most common real-world effect ismultiple offers on listed properties, intensifying competition and giving sellers leverage. This matches optionB. The definitions in NCREC study guides, textbooks, and appraisal resources all align with this scenario.

NEW QUESTION # 120
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