Question
The North Carolina Real Estate License Law prohibits a provisional broker with a license on active status from taking which of the following actions? A.
The North Carolina Real Estate License Law prohibits a provisional broker with a license on active status from taking which of the following actions?
A. participating in a brokerage transaction that involves a commercial real estate lease
B. working part-time under the supervision of a broker-in-charge while holding a primary job in an occupation unrelated to real estate
C. acting as a seller's subagent in a transaction that involves property listed by a cooperating but competing real estate company
D. accepting payment of a properly earned buyer agent's share of a commission directly from a cooperating but competing listing company
A North Carolina broker just listed a townhouse for sale in the neighborhood where they live. The broker is aware that every townhouse owner will soon be assessed $1,000 to pay for repairs to the neighborhood swimming pool. The seller does not disclose the pending assessment in the Residential Property and Owners' Association Disclosure Statement (ROADS). The listing agent
A. must voluntarily disclose the pending assessment to all prospective buyers.
B. must disclose the pending assessment to any prospective buyer who asks about it
C. is not required to disclose the assessment, because it is not disclosed in the ROADS.
D. is not required to disclose the assessment until it has been levied against the property owners.
The Standard Offer to Purchase and Contract form jointly approved by the North Carolina Association of REALTORS and the North Carolina Bar Association contemplates that buyer and seller may negotiate with each other concerning which of the following matters related to the transaction after contract formation?
A. any agreement with respect to property repairs
. the party that will obtain any homeowner's warranty
C. any additional earnest money
D. any payments by seller for buyer's closing costs
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