[Dec 06, 2025] Valid NCREC-Broker-N Test Answers Full-length Practice Certification Exams [Q71-Q89]

NEW QUESTION 71
A property is selling for $690,000, and the seller’s estimated closing expenses amount to $8,000. If the seller originally purchased the property for $410,000 and paid $3,000 in closing expenses, what is the seller’s estimated profit on the sale?

NEW QUESTION 72
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?

NEW QUESTION 73
Why does the North Carolina Conner Act require deeds to be recorded?

NEW QUESTION 74
A prospective buyer, who just moved to town from Venezuela, asks their buyer agent to show them houses only in Latino neighborhoods. If the buyer agent complies with the buyer’s directions, the agent could be guilty of:

NEW QUESTION 75
The statute of frauds requires contracts for the sale of real property to be:

NEW QUESTION 76
If a seller whose property is currently listed with another company initiates a conversation with a broker about the possibility of the broker becoming their new listing agent, the broker:

NEW QUESTION 77
Which of the following BEST describes a seller’s market?

NEW QUESTION 78
A seller sold their house for $600,000. They are responsible for paying a 6% commission to the listing broker, closing costs of $8,500, and the remaining balance on their prior mortgage loan of $60,000. How much will they net on the sale?

NEW QUESTION 79
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:

NEW QUESTION 80
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?

NEW QUESTION 81
In North Carolina, which type of buyer agency agreement may be oral or written?

NEW QUESTION 82
Which is the correct formula for finding the value of a property using a capitalization rate?

NEW QUESTION 83
In North Carolina, a buyer agent must disclose their agency status to the seller or the seller’s agent:

NEW QUESTION 84
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?

NEW QUESTION 85
Friends Jack, Jill, and Harold bought a warehouse property in North Carolina, and the deed simply stated, “as joint tenants.” Assuming Harold had a will when he died, who got his share of the warehouse?

NEW QUESTION 86
When must a North Carolina broker provide a copy of the Working With Real Estate Agents (WWREA) Disclosure to a prospective buyer or seller?

NEW QUESTION 87
It would be considered the unauthorized practice of law for a North Carolina real estate broker to:

NEW QUESTION 88
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?

NEW QUESTION 89
Which of the following will an appraiser consider when appraising a property?