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North Carolina Real Estate Commission NC Real Estate Broker National Sample Questions:

1. A broker who solicits active clients of other brokers may be guilty of:

A) tortious obstruction.
B) negligent obstruction.
C) negligent interference.
D) tortious interference.

2. The buyer of a farm wants to separately purchase a tractor from the seller. What document would MOST likely be required at closing to transfer ownership of the tractor?

A) Bill of sale
B) Deed
C) Personal property addendum
D) Purchase agreement

3. At a minimum, how many members of the North Carolina Real Estate Commission are required to be active real estate brokers?

A) 3 members
B) 7 members
C) 5 members
D) 9 members

4. Which statement about a mortgagee's title insurance policy is TRUE?

A) It protects the lender against defects in the title.
B) The amount paid on a claim equals the original loan amount.
C) Coverage never expires as long as the buyer owns the property.
D) The policy premium is usually added to the monthly mortgage amount.

5. In North Carolina, an earnest money deposit that is paid by check must be deposited into a trust account no later than:

A) 5 banking days after receipt.
B) 3 banking days after acceptance of the offer.
C) 3 banking days after receipt.
D) 5 banking days after acceptance of the offer.

Solutions: