NCREC-Broker-N 시험 - North Carolina Real Estate Commission실제시험문제와 답 - 125문항

Question No : 1

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

A.The buyer cannot live at the property until the seller is paid the full sales price.
B.The buyer holds equitable title to the property.
C.The buyer will receive legal title to the property immediately.
D.The buyer is financing only the purchase of the land, not the house.

정답:
Explanation:
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.

Question No : 2

In North Carolina, which lien has the highest priority when property is sold to recover a debt?

A.Ad valorem property tax lien
B.Judgment lien
C.Mortgage lien
D.Whichever lien was recorded first

정답:
Explanation:
In North Carolina, and in most states, ad valorem (real estate) property tax liens have “superior lien” status. They take precedence over all other liens, regardless of recording date. This includes mortgage liens and judgment liens. Therefore, even if a mortgage was recorded first, a property tax lien takes priority. Correct answer: A.

Question No : 3

On Monday morning, a buyer agent who works for ABC Realty submits a buyer client's offer to the listing agent at XYZ Realty. Later that day, the listing agent presents the offer to the seller. On Tuesday morning, the seller signs the offer with no changes, and on Tuesday evening, the listing agent calls the buyer agent to tell them the offer is signed and accepted. The buyer agent finally gets in contact with the buyer Wednesday morning to communicate the good news. On Wednesday afternoon, the listing agent delivers the signed offer to the buyer agent, and the buyer agent delivers it to the buyer that evening.
At what point was there a valid, binding contract between buyer and seller?

A.Tuesday morning when the seller signed the contract
B.Tuesday evening when the acceptance was communicated to the buyer agent
C.Wednesday morning when the buyer agent communicated the acceptance to the buyer
D.Wednesday evening when the buyer received the signed offer

정답:
Explanation:
In North Carolina, a contract becomes binding when the last party to sign communicates their acceptance to the other party or the other party’s agent. Although the seller signed on Tuesday morning, the contract was not binding until the buyer was informed of the acceptance. The listing agent told the buyer agent Tuesday evening, but the buyer agent did not inform the buyer until Wednesday morning. Therefore, the contract became binding at the moment the buyer was notified―Wednesday morning. Correct answer: C.

Question No : 4

A North Carolina resident who believes they were refused a lease in a new apartment building because of their sexual orientation can file a complaint with the North Carolina Human Relations Commission, but they must do so within ________ of the alleged discrimination.

A.3 months
B.6 months
C.1 year
D.2 years

정답:
Explanation:
Under both federal and North Carolina law, individuals who believe they have experienced housing discrimination must file a complaint within one year of the alleged act to seek administrative remedies through the North Carolina Human Relations Commission or HUD. Discrimination based on sexual orientation is protected under federal fair housing law via interpretation of “sex” as a protected class. Therefore, the correct answer is C.

Question No : 5

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

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

정답:
Explanation:
A mortgagee's (lender’s) title insurance policy protects the lender from financial loss caused by title defects that were not discovered before the mortgage was issued. The policy coverage lasts until the loan is repaid. The borrower pays a one-time premium at closing―it is not part of the monthly mortgage. Claims are based on the unpaid balance of the loan, not necessarily the full loan amount.
Therefore, the correct answer is D.

Question No : 6

A provision in a contract that makes the parties' rights and obligations dependent on the occurrence or nonoccurrence of a specified event is a(n):

A.amendment
B.contingency
C.option
D.stipulation

정답:
Explanation:
A contingency is a clause in a contract that makes the agreement dependent upon a certain event or action occurring before the contract becomes fully binding. Common examples include financing, appraisal, or home inspection contingencies. An amendment modifies an existing contract, an option gives a party the right but not the obligation to act, and a stipulation may refer to a general condition but not necessarily a legal contingency. Therefore, the correct answer is B.

Question No : 7

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

A.Accepting applications for a lease
B.Completing a preprinted lease contract
C.Negotiating the amount of a security deposit
D.Showing apartment units to prospective tenants

정답:
Explanation:
In North Carolina, salaried employees working under a licensed brokerage or property management firm may engage in certain administrative or ministerial tasks without a real estate license―such as showing rental units, collecting rent, and accepting applications. However, negotiating lease terms or the amount of a security deposit involves brokerage-level activity and requires a real estate license. Therefore, the correct answer is C.

Question No : 8

A property owner owns 150 acres of land. Bordering one side of the property is a non-navigable river.
Which statement about the owner's ownership rights is TRUE?

A.The owner can stop other people from using the river.
B.The owner has littoral, not riparian rights.
C.The owner's land ownership rights extend to the center of the river.
D.The owner owns the water and can build a dam to restrict its flow.

정답:
Explanation:
In North Carolina, if a property borders a non-navigable river or stream, the property owner holds riparian rights. This means the owner's property extends to the centerline of the watercourse. Littoral rights, by contrast, apply to properties bordering large, navigable bodies of water such as oceans and lakes. The owner does not own the water and cannot restrict its natural flow or public use where applicable. Therefore, the correct answer is C.

Question No : 9

A property owner gave a five-acre parcel of land to a church as long as the church does not build a parking lot on it.
What kind of estate does the church have for this property?

A.Conventional life estate
B.Defeasible fee estate
C.Fee simple absolute
D.Life estate pur autre vie

정답:
Explanation:
A defeasible fee estate (specifically, a fee simple determinable or fee simple subject to a condition subsequent) is one that may be voided if a specific condition is violated or a required event does not occur. In this case, the condition is that the church cannot build a parking lot. If it does, ownership may revert to the grantor. Therefore, the correct answer is B.

Question No : 10

On a settlement statement, the seller's net proceeds are calculated by:

A.subtracting closing costs from the purchase price.
B.subtracting the buyer's credits from the seller's credits.
C.subtracting the seller's debits from the buyer's debits.
D.subtracting the seller's debits from the seller's credits.

정답:
Explanation:
The seller’s net proceeds are the total credits due to the seller (such as the sale price) minus all debits (such as mortgage payoff, commissions, taxes, and other closing costs).
Therefore, the formula is: Net Proceeds = Seller's Credits − Seller's Debits. Correct answer: D.

Question No : 11

When attempting to distinguish a fixture from personal property, one can ignore the:

A.method of attachment.
B.cost of the item.
C.intent of the person who attached it.
D.item's adaptability.

정답:
Explanation:
In determining whether an item is a fixture (real property) or personal property, North Carolina courts and the NCREC consider several tests: method of attachment, adaptability of the item for the real estate's purpose, intent of the person who installed it, and whether removal would cause damage. The cost of the item is irrelevant to whether it is a fixture or not. Therefore, the correct answer is B.
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Question No : 12

A property manager receives a request from a prospective tenant to install grab bars in the showers and a handrail by the toilet to assist the tenant with their disability.
According to the Fair Housing Act, what is the property manager required to do?

A.Allow the tenant to make the modifications at their expense
B.Make the requested modifications at the property owner's own expense
C.Raise the amount of the tenant's security deposit to pay for the modifications
D.Ask the tenant to provide proof from a doctor or physical therapist of their need

정답:
Explanation:
Under the Fair Housing Act, individuals with disabilities are permitted to make reasonable modifications to their rental unit at their own expense if the changes are necessary to afford them full enjoyment of the premises. The landlord or property manager must allow these modifications unless the property is government-subsidized housing, where the owner may be required to pay. Requiring medical proof or charging extra deposits beyond the cost of restoring the property (if applicable) is not allowed. Therefore, the correct answer is A.

Question No : 13

A contract in which one or both parties have not yet completed performance of their contractual obligations is referred to as:

A.executed
B.executory
C.voidable
D.unenforceable

정답:
Explanation:
An executory contract is one in which terms have been agreed upon, but some or all of the obligations have yet to be performed. For example, a purchase contract where the closing has not yet occurred is executory. An executed contract is one where all parties have completed their obligations. A voidable contract is valid unless canceled by one party due to a legal defect. An unenforceable contract cannot be upheld in court. Therefore, the correct answer is B.

Question No : 14

A homeowner has been trying to sell their house for some time, but buyers seem to be turned off by the odor from a nearby chicken farm.
This is an example of:

A.economic depreciation
B.external obsolescence
C.functional obsolescence
D.physical deterioration

정답:
Explanation:
External obsolescence refers to a loss in property value caused by external factors beyond the property owner’s control. These could include undesirable neighboring properties, economic shifts, or environmental conditions. In this case, the unpleasant odor from the nearby chicken farm is an environmental factor reducing buyer interest. Therefore, the correct answer is B.

Question No : 15

What is the EPA's recommended action level for radon in the air, measured in picocuries per liter (pCi/L)?

A.2.0 pCi/L
B.3.0 pCi/L
C.4.0 pCi/L
D.5.0 pCi/L

정답:
Explanation:
The U.S. Environmental Protection Agency (EPA) has established a recommended action level of 4.0 picocuries per liter (pCi/L) for radon gas in indoor air. If a home's radon level is at or above this threshold, mitigation is recommended to reduce exposure. Radon is a naturally occurring radioactive gas that can pose serious health risks, particularly lung cancer. Therefore, the correct answer is C.

North Carolina Real Estate Commission NCREC-Broker-N 시험