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North Carolina Real Estate Commission NCREC-Broker-N Exam Syllabus Topics:

Topic	Details
Topic 1	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.
Topic 2	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 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	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.

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North Carolina Real Estate Commission NC Real Estate Broker National Sample Questions (Q14-Q19):

NEW QUESTION # 14
What are the four elements of value that must exist in harmony to maximize the value of real property?

A. Immobility, scarcity, transferability, and demand
B. Right of use, enjoyment, exclusivity, and disposal
C. Demand, utility, scarcity, and transferability
D. Uniqueness, immobility, indestructibility, and demand

Answer: C

Explanation:
The four economic characteristics necessary for real property to have value are:
Demand: There must be a desire or need for the property.
Utility: The property must serve a purpose or satisfy a need.
Scarcity: There must be a limited supply of similar properties.
Transferability: The ownership rights must be transferable from one party to another.
These four components form the acronym DUST and are foundational in property valuation. The correct answer is A.
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NEW QUESTION # 15
The monthly rent for each unit in a six-unit office building is $2,500. The annual vacancy rate averages 4%.
The owner collects $3,000 per year in advertising fees. Annual operating expenses are $40,000. The annual debt service is $25,000. What is the net operating income of this property?

A. $132,680
B. $150,800
C. $135,800
D. $110,800

Answer: C

Explanation:
Step 1: Calculate Gross Scheduled Income
6 units × $2,500/month × 12 months = $180,000
Step 2: Deduct Vacancy Loss (4%)
$180,000 × 0.04 = $7,200
Effective Gross Income = $180,000 # $7,200 = $172,800
Step 3: Add Other Income
$172,800 + $3,000 (advertising fees) = $175,800
Step 4: Subtract Operating Expenses (ignore debt service)
$175,800 # $40,000 = $135,800
Note: Net Operating Income (NOI) excludes debt service.
Correct answer: C

NEW QUESTION # 16
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. physical deterioration
B. external obsolescence
C. economic depreciation
D. functional obsolescence

Answer: B

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.

NEW QUESTION # 17
When attempting to distinguish a fixture from personal property, one can ignore the:

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

Answer: D

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.

NEW QUESTION # 18
The owner of a house located in North Carolina sold it to a buyer for $523,400. The buyer finances $418,700 and makes a down payment of $104,700. At settlement, what is the required excise (transfer) tax, and who pays it?

A. $1,047.00, paid by the seller
B. $523.40, paid by the seller
C. $838.00, paid by the buyer
D. $1,046.80, paid by the buyer

Answer: A

Explanation:
In North Carolina, the excise (transfer) tax is calculated at a rate of $1 per $500 of the sale price, rounded down to the nearest $500. For a sale price of $523,400:
Round down to nearest $500 # $523,000
$523,000 ÷ $500 = 1,046
1,046 × $1 = $1,046 excise tax
However, excise tax in NC is typically paid by the seller. Therefore, the correct answer is D: $1,047.00 paid by the seller (slightly rounded up as per state recording practice).

NEW QUESTION # 19
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Pass NCREC-Broker-N Test - Pdf NCREC-Broker-N Version

North Carolina Real Estate Commission NCREC-Broker-N Exam Syllabus Topics:

Pdf NCREC-Broker-N Version | NCREC-Broker-N Test Certification Cost

North Carolina Real Estate Commission NC Real Estate Broker National Sample Questions (Q14-Q19):

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