North Carolina Real Estate Commission NCREC-Broker-N Actual Free Exam Questions & Community Discussion

A property is selling for $690,000, and the seller's estimated closing expenses amount to $8,000. If the seller originally purchased the property for $410,000 and paid $3,000 in closing expenses, what is the seller's estimated profit on the sale?

A Baptist charity runs a not-for-profit senior housing community for members of its faith. A 75-year-old Hindu woman applies to lease an apartment, and her application is denied. Does she have a case for illegal discrimination under the federal Fair Housing Act?

The owners of a house that was built in 1950 are planning to sell it. What must they do prior to a sale of the property to comply with federal lead-based paint disclosure requirements?

An appraiser who is appraising a duplex gathers the following information: rent, vacancy rate, mortgage loan payments, property taxes, the owner's income tax obligations, and various expenses. The appraiser also examines the same information from other similar properties in the area as well as their sales prices. To find the net operating income of the subject property, what does the appraiser need to consider?

A buyer bought a house on an installment land contract, also called a contract for deed. Which statement about this transaction is TRUE?

When must a North Carolina broker provide a copy of the Working With Real Estate Agents (WWREA) Disclosure to a prospective buyer or seller?

A salaried employee of a North Carolina brokerage firm that practices property management must have a real estate license if they perform which task?

Which situation would be considered a material fact that a listing broker in North Carolina would be required to disclose to a prospective buyer?

The primary purpose of a comparative market analysis of real property is to provide a(n):

A local bank refuses to make residential loans in a particular section of town because of the ethnic background of its residents. This is a discriminatory practice called: