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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 Feb. 20, 2026 (see below)
A buyer signs a contract to purchase a 10-year-old unit in a condominium community. Under the provisions of the North Carolina Condominium Act, how many days does the buyer have to rescind the contract?
Under the North Carolina Condominium Act (N.C.G.S. Chapter 47C), the buyer of a condominium unit has a 7-day right of rescission only for new condominiums, meaning units offered for sale in a project not yet completed or occupied. For units in a condominium community that are more than one year old, there is no statutory right to rescind the contract once signed. Since this is a 10-year-old unit, the buyer does not have a rescission period.
[Broker's Authority and Duties]
Under the provisions of a property management agreement, a property manager has a legal obligation to promote and protect whose interests?
Under North Carolina law, a property manager acts as a general agent for the property owner and owes fiduciary duties---including loyalty, obedience, accounting, and full disclosure---to the owner. While managers must comply with fair housing and other tenant-related laws, their primary duty is to the owner of the property.
NCREC Property Management Guidelines
North Carolina License Law and Rule Comments -- Section on Agency Duties
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.
[Listing Price and Terms -- Types of Financing]
A buyer bought a house on an installment land contract, also called a contract for deed. Which statement about this transaction is TRUE?
In an installment land contract (contract for deed), the buyer receives equitable title upon signing and possession of the property. Legal title remains with the seller until the full purchase price is paid or the contract conditions are met. The buyer typically takes possession and lives in the property during the installment period. This is a form of seller financing covering both land and improvements. Therefore, the correct answer is B.
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[Compliance with Laws and Regulations -- Government Rights in Land]
By what right could a county acquire private land necessary to build a new highway ramp?
Eminent domain is the government's right to take private property for public use, with just compensation to the owner. The legal process used to exercise this right is called condemnation. Therefore, while condemnation is the procedure, the actual right exercised is eminent domain. Escheat involves reverting property to the state when there is no heir, and police power involves regulations like zoning. Correct answer: B.
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