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Real Estate Licensing NCREC-Broker-N Exam Questions
- 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: 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.
- Topic 3: 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 4: 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.
Free Real Estate Licensing NCREC-Broker-N Exam Actual Questions
Note: Premium Questions for NCREC-Broker-N were last updated On Sep. 02, 2026 (see below)
[Broker's Authority and Duties -- Commission Eligibility]
A North Carolina broker arranges a real estate sales transaction while working for a brokerage firm. If the broker's license becomes inactive before the transaction closes, the brokerage firm:
According to North Carolina Real Estate Commission policy, as long as the broker was actively licensed at the time the transaction was originated (i.e., while performing licensed activity), the broker is legally entitled to compensation---even if their license becomes inactive before closing. The commission is paid through the firm. Therefore, the correct answer is A.
[Listing Price and Terms -- Appraisal Process]
Which of the following will an appraiser consider when appraising a property?
When using more than one approach to value (sales comparison, cost, and income), an appraiser must reconcile the results, weighting each method based on its relevance to the subject property. The original purchase price and average of all comps are not directly used in determining value. The cost to update may factor into adjustments but is not a primary valuation method. Therefore, the correct answer is D.
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To equalize each comparable property to the subject property when performing the sales comparison approach, the appraiser should make adjustments to:
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.
[Compliance with Laws and Regulations -- North Carolina Timeshare Act]
Under the North Carolina Timeshare Act, a timeshare developer must allow a buyer to cancel a purchase contract without penalty for how long after signing the contract?
According to the North Carolina Timeshare Act, a purchaser of a timeshare has the right to cancel the purchase without penalty within five (5) calendar days after execution of the contract. This right of rescission is non-waivable and must be disclosed in the contract. The cancellation does not require a reason and must be honored fully. Therefore, the correct answer is B.
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In North Carolina, a buyer agent must disclose their agency status to the seller or the seller's agent:
North Carolina License Law and Rules state that a buyer's agent must disclose their agency status at initial contact with the seller or the seller's agent. The statute explicitly requires agency disclosure at the earliest interaction. Thus, option A is correct.
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