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

Topic
Details

Topic 1

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 2

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 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 (Q101-Q106):

NEW QUESTION # 101
When a property is being sold "as is," what responsibility does the listing broker have related to disclosures?

A. The broker needs to disclose only major structural issues.
B. The broker has no disclosure responsibilities.
C. The broker should not disclose any information to avoid liability.
D. The broker must still disclose all known material facts.

Answer: D

Explanation:
In North Carolina, a property sold "as is" means the seller is not agreeing to make repairs, but it does not relieve the broker of their duty to disclose. The broker must disclose all material facts they know or reasonably should know, regardless of the "as is" status. This includes physical defects, zoning issues, or legal encumbrances. Therefore, option B is the correct and legally required practice for brokers.

NEW QUESTION # 102
Why does the North Carolina Conner Act require deeds to be recorded?

A. To provide actual notice to all parties involved
B. To comply with the statute of frauds
C. To provide constructive notice of the transfer
D. To ensure the validity of the deed

Answer: C

Explanation:
The Conner Act in North Carolina requires that certain real estate documents (including deeds, leases over 3 years, and easements) must be recorded in order to be enforceable against third parties. Recording a deed provides constructive notice to the world that an ownership transfer has occurred. Constructive notice is a legal concept meaning everyone is deemed to know the facts once the document is publicly recorded.
Therefore, the correct answer is B.

NEW QUESTION # 103
A property owner owns 150 acres of land. Bordering one side of the property is a non-navigable river. Which statement about the owner's ownership rights is TRUE?

A. The owner's land ownership rights extend to the center of the river.
B. The owner has littoral, not riparian rights.
C. The owner owns the water and can build a dam to restrict its flow.
D. The owner can stop other people from using the river.

Answer: A

Explanation:
In North Carolina, if a property borders a non-navigable river or stream, the property owner holds riparian rights. This means the owner's property extends to the centerline of the watercourse. Littoral rights, by contrast, apply to properties bordering large, navigable bodies of water such as oceans and lakes. The owner does not own the water and cannot restrict its natural flow or public use where applicable. Therefore, the correct answer is C.
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NEW QUESTION # 104
A loan is set up so that the borrower's loan payments are for the same amount each month. A portion of each payment goes to interest, and a portion goes to principal, and the loan balance will be zero at the end of the loan term. Which type of loan is this?

A. Partially amortizing
B. Fully amortizing
C. Straight amortizing
D. Negatively amortizing

Answer: B

Explanation:
A fully amortizing loan is one in which the borrower makes equal monthly payments over the loan term, with a portion of each payment applied to interest and the remainder to principal. By the end of the loan term, the entire balance is paid off. Therefore, the correct answer is A - fully amortizing.
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NEW QUESTION # 105
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. Harold's spouse
B. Jack and Jill
C. Harold's heirs
D. It's up to the court to decide

Answer: B

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.
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NEW QUESTION # 106
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Lou West Lou West

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