Get Latest Feb-2026 Conduct effective penetration tests using DumpsTorrent NCREC-Broker-N [Q21-Q43]

Q21. 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:

Q22. 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?

Q23. After a purchase agreement has been signed, but before the transaction closes, the buyer attempts to have the contract voided. The buyer was able to prove that, because of a mental disorder, they were incompetent at the time the contract was signed although later went on medication. Is the contract still valid?

Q24. According to the North Carolina Real Estate Commission Rules, what must be included in a written agency agreement?

Q25. In North Carolina, a buyer agent must disclose their agency status to the seller or the seller’s agent:

Q26. A North Carolina broker has been practicing real estate for 10 years for a firm in Asheville. The broker just bought a home on Oak Island and would like to split their time between the mountains and the shore. Under what circumstances could the broker affiliate with two different brokers-in-charge?

Q27. Why does the North Carolina Conner Act require deeds to be recorded?

Q28. Under the North Carolina Timeshare Act, a timeshare developer must allow a buyer to cancel a purchase contract without penalty for how long after signing the contract?

Q29. A listing brokerage firm offered a 3% commission split to any broker who could find a buyer for their
$700,000 listing. The seller agreed to pay a 7% commission. A broker from another brokerage firm found a buyer, and the seller accepted their offer of $695,000. What did the listing brokerage firm earn on this transaction?

Q30. What clause in a mortgage would permit the lender to call the outstanding balance due and payable if the borrower sells the property or otherwise transfers ownership of the property?

Q31. A North Carolina broker must maintain copies of all transaction files for at least _____ after the conclusion of a transaction?

Q32. A seller discusses listing their home with a broker. The seller tells the broker that when the house sells, the seller wants $200,000 in their pocket at closing, and the listing brokerage can keep any amount beyond that as their commission. What does this scenario describe?

Q33. 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?

Q34. Which situation would be an appropriate use of an expedited eviction process in North Carolina?

Q35. In the context of antitrust laws, which action would be considered an example of a group boycott?

Q36. On a settlement statement, the seller’s net proceeds are calculated by:

Q37. A contract in which one or both parties have not yet completed performance of their contractual obligations is referred to as:

Q38. What duty does a North Carolina real estate broker have related to material facts?

Q39. Under the provisions of the federal Truth in Lending Act (TILA) and Real Estate Settlement Procedures Act (RESPA), a lender must provide a borrower with the Closing Disclosure at least _________ prior to loan consummation.

Q40. The owner of a lot that is 99 feet by 110 feet would like to sell it. Similar properties sell for $180,000 per acre.
What is the likely selling price for this property?

Q41. A buyer bought a house on an installment land contract, also called a contract for deed. Which statement about this transaction is TRUE?

Q42. Which of the following actions by a listing broker is an example of willful misrepresentation?

Q43. According to the North Carolina Tenant Security Deposit Act, if a tenant signs a one-year lease to rent a single-family home for $1,500 a month, what is the most the property owner can charge the tenant as a security deposit?