1. In North Carolina, a written buyer agency agreement

A. may be automatically extended on a month-to-month basis following the initial term of the agreement.

B. must be for a definite period of time and must terminate without prior notice on the expiration date.

C. may be for an indefinite period of time provided the buyer is permitted to terminate the agreement at any time

D. may not exceed an initial period of 180 days, but may be continuously renewed at the option of either party

2. In transactions subject to the North Carolina Residential Property Disclosure Act, which of the following statements is true?

A. The seller of property subject to the disclosure law must discover and disclose to prospective buyers all property defects.

B. The buyer who receives a completed Residential Property and Owners' Association Disclosure Statement about a property must sign the statement prior to being shown the property-

C. When a seller provides a completed Residential Property and Owners' Association Disclosure Statement to a prospective buyer, the agents in the transaction are relieved of any responsibility to discover and disclose material facts about the property.

D. The listing agent must inform the seller of the seller's statutory rights and obligations, and should provide the seller with the appropriate disclosure form.

3. Rental arrangements for which of the following are NOT protected by the North Carolina Residential Rental Agreements Act?

A. basement apartment in a home

B. units in an apartment complex of less than 4 units

C. units in an apartment complex of 10 or more units

D. transient occupancy