NO.29 In North Carolina, an earnest money deposit that is paid by check must be deposited into a trust account no later than:

NO.30 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?

NO.31 Morgan has an appurtenant easement to cross Julie’s land to get to his cornfield. Julie’s land is the:

NO.32 When a borrower obtains an FHA-insured loan, the source of the funds is MOST likely to be:

NO.33 The buyer of a long-vacant lot plans to build a home. The zoning ordinance for the town in which the property is located indicates that every lot with a structure must be at least 80 feet wide. When the buyer applies for a building permit, they are surprised to learn that the lot is only 76 feet wide. The property is worthless if they cannot build a home. To build a home on the lot legally, what must the buyer obtain from the local zoning board?

NO.34 A North Carolina broker deposits a buyer’s earnest money check into their firm’s general fund so that they can pay the rent on the brokerage office. This is an example of:

NO.35 A seller tells their listing broker that the basement leaks in heavy rains but marks “No Representation” to the relevant question on the North Carolina Real Estate Commission’s Residential Property and Owners’ Association Disclosure Statement (RPOADS). The listing broker must:

NO.36 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?

NO.37 Which statement about a North Carolina broker-in-charge (BIC) is TRUE?

NO.38 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?

NO.39 Under the terms of the NCAR/NCBA Offer to Purchase and Contract (Standard Form 2-T), the settlement date can be delayed for how long before the contract is no longer enforceable and binding on all parties?

NO.40 An investor bought a small office building for $500,000. They sold it 10 years later for $480,000. What is their percentage of loss?

NO.41 The property manager of an apartment building would be in violation of the federal Fair Housing Act if they discriminated against a prospective tenant on the basis of:

NO.42 In North Carolina, if a listing broker is tempted to disclose the terms of an offer to get another buyer to submit a higher offer, what must the broker do?

NO.43 A North Carolina real estate broker lists their vacation home for sale. A prospective buyer asks to see the property. Which statement is TRUE?