When the supply of a commodity decreases:

All of the following are physical characteristics of land, EXCEPT:

All of the following are required of a candidate to obtain a NC Real Estate Brokers License, EXCEPT:

Which of the following is correct regarding the educational requirements of a provisional broker?

How are members of the NC Real Estate Commission chosen?

It is the job of the NC Real Estate Commission to perform all of the following, EXCEPT:

All of the following are economic characteristics of real property, EXCEPT:

The fact that real estate licensees must be licensed in the state where the real estate is located and not where the client is located occurs:

Highest and best use would best be defined as:

In regard to real estate's role in economic cycles, which of the following statements is correct?

In regard to the composition of the NC Real Estate Commission, which of the following statements is correct?

The North Carolina Real Estate Commission has the authority to:

Under the doctrine of specific performance, the party harmed by breach of a real estate contract can ask a judge to force the breaching party to carry out the terms of the contract rather than order the breaching party to pay monetary damages. Which physical characteristic of land is the basis for the doctrine of specific performance?

Which of the following is considered to have the greatest impact on the value of a property?

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:

What is the length of the NC real estate licensing examination eligibility period?

All of the following will result in a forfeiture of license application and examinations fees, EXCEPT:

What is the name of the publication that contains information for candidates taking the North Carolina real estate licensing examination?

If a candidate 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?

The concept by which land would increase automatically along a river or stream is known as:

Which of the following is generally considered real property?

The phrase "bundle of legal rights":

A trade fixture is considered:

Real property can become personal property by:

A seller is under contract to sell a property using the standard offer to purchase and contract. The elegantly decorated master bedroom has vertical window blinds, hand-painted light switches and electrical outlet covers, and draperies fashioned from fabric coordinated with the wallpaper. Which of the following items may the seller legally remove before the close of the transaction?

A business owner rents an empty building to use an ice cream parlor. The tenant subsequently installs large freezer units and several service counters. These additions:

The owner of a house wants to fence the yard for a dog. When the fence is erected, the fencing materials are converted to real estate by:

Which of the following has an indefinite ownership period?

Oil, gas and other subsurface rights are generally considered to be:

A woman wishes to donate a vacant lot that she owns in fee simple absolute to a hospital that is located next to her lot. An attorney prepares a deed that conveys the ownership of the lot to the hospital "so long as it is used for medical purposes." After the completion of the gift, the hospital will hold a:

The rights of the owner of a property located along the banks of a small stream are called:

A deed conveyed ownership to a grantee "so long as the existing building on the property is not destroyed." Following the transfer, the original grantor has what type of interest?

A woman conveys a life estate to her son-in-law and stipulates that upon his death the estate will pass to her grandson. The grandson has an:

A person who acquired ownership that can be inherited, with the provision "that the land must always be used for recreational purposes," has:

A brother and sister bought a commercial building and took title as joint tenants with right of survivorship. The brother died. The sister now owns the building:

A person currently has the legal right to occupy and use a certain residential structure. The interest in the property could be all of the following, EXCEPT:

Co-owners of a fee simple interest in a small office building are neither related to nor a creditor to each other. One owner dies intestate. The surviving owner would become the sole owner of the property under which of the following rights?

One of two owners holds an undivided 60% interest and the other holds an undivided 40% interest. The two owners probably hold their interest as:

The owner of a condominium unit learns that a neighbor has failed to pay his condominium association dues. If the neighbor does NOT pay the dues:

In order to create a joint tenancy relationship in the ownership of real estate, there must be unities of:

The severalty owner of a parcel of land sells it. The buyer insists that the owner's wife also sign the deed. The purpose of obtaining the wife's signature is to:

Which item(s) listed below would be considered part of the "total circumstances test" to determine whether or not an item is a fixture? I. The value II. The size

Chrissy owns property that borders a large, navigable lake that has tides. Her property ends:

In North Carolina, what is the rescission period for the purchase of a new condominium?

In North Carolina, what is the rescission period for the purchase of a new timeshare?

Jack is not married and buys a vacant lot as his sole and separate property. Jack later married Jill and they buy a house together. How is the ownership of the vacant lot now classified?

With regard to a tenancy in common, which of the following is true? A. Each tenant in common has an equal right to possession and use of the land. B. The interest of all of the tenants in common must be equal.

Vonda Lee and William purchased a home together in 2003 with the deed simply listing both of them as “grantees” without specifying how they were to hold title. They married each other in early 2004. How do they now likely hold title to the house purchased in 2003 if they have not made any other adjustments to their deed?

When two people who own property under tenancy by the entirety sign a formal separation agreement, which of the following statements is correct?

Which of the following statements is true? A. A life estate is a freehold estate. B. It is possible to have a freehold estate and a non-freehold estate on the same property at the same time.

The right to occupy a property for five or more periods of time involving five or more years is considered a: A. Timeshare B. Interest in real property

Five days after signing a contract to purchase a new timeshare, the buyer backs out of the deal. How long does the developer have to refund the purchaser’s money?

Which of the following would be considered real property? A. Electrical switch plate covers B. Gas logs attached to a fireplace

Which of the following best defines the ownership in a condominium?

Jason's property is adjacent to a navigable river in North Carolina and Jason wants to sell his property. Which of the following statements is true?

A homeowner objected when a local utility company dug up his garden to install a natural gas line. The company claimed it had a valid easement supported by the county records. The homeowner claimed the easement was not valid because he was unaware of its existence. The easement was:

The owner of two acres of land sold one acre but retained an appurtenant easement over that land for ingress and egress to his retained lot. The retained lot:

The current market value of a property is $$135,000. For tax purposes, it is assessed at 60$$ 2.45 per $100 of assessed value. What is the annual tax liability?

Which of the following liens generally holds first priority?

What will be the amount of tax payable when the property's original assessed value is $185,000 then a 10% horizontal adjustment is made to all assessed values and the tax rate is 40 mills in a community?

Charges levied on a property owner and limited to those living in a particular neighborhood to pay for the installation of sewer and water lines are:

The ad valorem property tax rates may be adjusted every:

Jack bought a home for $$125,000 with an ad valorem tax assessed value of$$ 130,000. The following year, a horizontal adjustment of a 15% increase in assessed value occurred. If the new tax rate is $$1.678 per$$ 100 of assessed value, what are the annual taxes?

What is the monthly tax liability on a property assessed at $$133,000 if the published tax rate is$$ 1.50 per $$100 of assessed value? The sales price of the property was$$ 150,500. The vacancy rate in the area is 6%. The market capitalization rate is 8%.

What is the assessed value of a house if the tax rate is $$1.30 per$$ 100 of value and the owner's annual taxes are $1,599?