Licensces
What is the entry-level license category in NC?
Provisional Broker
Broker
REALTOR®
BIC
Provisional Broker
Which law defines who must have a real estate license?
G.S. 93A-1
G.S. 93A-2
G.S. 93A-4
G.S. 94B-1
G.S. 93A-1
A REALTOR® is automatically any real estate licensee.
FALSE
TRUE
False
How many hours is the required prelicensing course?
75 hours
90 hours
60 hours
100 hours
75 hours
Who must supervise a provisional broker?
Broker-in-Charge
.Another provisional broker
A client
No one
Broker-in-Charge
Which document links a nonresident broker to a supervising NC broker?
Notification of Broker Affiliation
Affidavit of Agency
License Link Form
Designation Form
Notification of Broker Affiliation
To operate independently, a broker must be designated as a:
Broker-in-Charge
Managing Agent
Solo Broker
Coordinator
Broker-in-Charge
How many postlicensing hours are required to remove provisional status?
90 hours
75 hours
60 hours
100 hours
90 hours
Which license is required for out-of-state brokers to practice commercial real estate in NC?
Limited Nonresident Commercial Broker
Temporary NC Broker
Commercial Sales Pass
Reciprocal Agent
Limited Nonresident Commercial Broker
Who regulates license law in NC?
NC Real Estate Commission
Department of Commerce
.REALTORS® Association
MLS Board
NC Real Estate Commission
Can a provisional broker open their own firm?
No
Yes
No
What must a BIC complete within 120 days of designation?
12-hour BIC Course
Postlicensing
CE Elective
State Exam
12-hour BIC Course
Which of the following is NOT a license category?
Salesperson
Provisional Broker
Broker Broker-in-Charge
Salesperson
A broker license on provisional status is comparable to a:
Salesperson license in other states
Full broker
BIC
Property Manager
Salesperson license in other states
Which of the following requires supervision by a BIC?
Provisional Broker
Full Broker
Nonresident Broker
Licensed Appraiser
Provisional Broker
To qualify as BIC, how many years of experience are required?
2 full-time or 4 part-time in last 5 years
1 year
No experience
Only education
2 full-time or 4 part-time in last 5 years
True or False: A broker may retain provisional status indefinitely.
FALSE
TRUE
False
Who can designate themselves as BIC?
Broker not on provisional status .
Provisional broker
Unlicensed assistant
Any licensee
Broker not on provisional status
A limited nonresident broker must sign a:
Brokerage Cooperation Agreement
Referral Letter
License Application
Independent Agreement
Brokerage Cooperation Agreement
What organization must you join to be called a REALTOR®?
National Association of REALTORS®
.NC Real Estate Commission
MLS
HUD
National Association of REALTORS®