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WorksheetsChapter 1. Basic real estate concepts
Total questions: 12
Worksheet time: 6mins
All of the following factors would affect supply, EXCEPT:
construction costs
population
government controls
the labor force
All of the following are required of a candidate to obtain a NC real estate brokers license, EXCEPT:
minimum age of 18
high school diploma
good character
formal background check
How are member of the NC real estate commission chosen?
they are elected by the public at large
they are appointed by the governor
seven are appointed by the governor and 2 are appointed by the legislature
four are appointed by the legislature and 3 are appointed by the governor
It is the job of the NC real estate commission to perform all of the following, EXCEPT:
fine licensees who violate the rules or statutes
provide information to licensees and the public
regulate and educate licensees
protect the public and consumers
All of the following are economic characteristics of real property, EXCEPT:
scarcity
immobility
location
permanence
The NC real estate commission has the authority to:
regulate the commissions and fees charged by licensees
discipline a REALTOR for breach of the code of ethics
fine a licensee for violations of license law
require licensees to obtain education
Which of the following is considered to have he greatest impact on the value of a property?
area preference
permanence of investment
scarcity
uniqueness
In determining the value of a property the location is important. Factors in the community which cause businesses to relocate there and the ability to attract new businesses is known as the:
the zoning overlays
the areas marker value
life cycle of the community
the economic base
What is the length of the NC real estate licensing examination eligibility period?
75 hours
30 days
90 days
180 days
All of the following will result in a forfeiture of license application and examination fees, EXCEPT:
failing to take the examination within 90 days of license application
failure to appear for an examination appointment
appearing more than 15 minutes late for an examination appointment
failure to produce a proper ID at the time of examination
What is the name of the publication that contains information for candidates taking the North Carolina real estate licensing examination?
The NC real estate commission bulletin
RELINC - Real estate licensing in North Carolina
North Carolina administrative rules
North Carolina general statutes
If a candidates is denied a license due to information obtained in the mandatory criminal background check, how long do they have to request a hearing with NCREC?
30 days
60 days
90 days
180 days
