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NCREC-Broker-N Preparation, Exam Dumps NCREC-Broker-N Zip

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North Carolina Real Estate Commission NC Real Estate Broker National Sample Questions (Q85-Q90):

NEW QUESTION # 85
Which of the following BEST describes a seller's market?

A. Home prices are generally falling.
B. Sellers often receive multiple offers on their property.
C. Buyers have more negotiating power.
D. There are more sellers than buyers.

Answer: B

Explanation:
A "seller's market" occurs whendemand exceeds supply, resulting in strong buyer competition. The most common real-world effect ismultiple offers on listed properties, intensifying competition and giving sellers leverage. This matches optionB. The definitions in NCREC study guides, textbooks, and appraisal resources all align with this scenario.

NEW QUESTION # 86
The monthly rent for each unit in a six-unit office building is $2,500. The annual vacancy rate averages 4%.
The owner collects $3,000 per year in advertising fees. Annual operating expenses are $40,000. The annual debt service is $25,000. What is the net operating income of this property?

A. $150,800
B. $135,800
C. $132,680
D. $110,800

Answer: B

Explanation:
Step 1: Calculate Gross Scheduled Income
6 units × $2,500/month × 12 months = $180,000
Step 2: Deduct Vacancy Loss (4%)
$180,000 × 0.04 = $7,200
Effective Gross Income = $180,000 # $7,200 = $172,800
Step 3: Add Other Income
$172,800 + $3,000 (advertising fees) = $175,800
Step 4: Subtract Operating Expenses (ignore debt service)
$175,800 # $40,000 = $135,800
Note: Net Operating Income (NOI) excludes debt service.
Correct answer: C

NEW QUESTION # 87
In the context of antitrust laws, which action would be considered an example of a group boycott?

A. Two brokers from different firms agree not to cooperate with a new discount brokerage.
B. Two brokers from different firms agree to use the same marketing materials.
C. Two brokers from different firms agree to focus on different neighborhoods.
D. Two brokers from different firms agree to charge the same commission rate.

Answer: A

Explanation:
A group boycott occurs when two or more competitors conspire to exclude another competitor from fair participation in the market-such as refusing to show listings, denying cooperation, or encouraging others not to do business with a certain firm. This violates federal antitrust laws. Price-fixing (choice A) is another violation, but it's not a group boycott. Therefore, the correct answer is D.
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NEW QUESTION # 88
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:

A. inform the local building commission.
B. inform the buyer that the basement leaks during heavy rains.
C. protect the interests of their client and keep the information confidential.
D. complete a new property disclosure statement themself.

Answer: B

Explanation:
According to NCREC rules, even when a seller selects "No Representation" on the RPOADS, the listing broker is obligated to disclose any material facts they know about the property to prospective buyers. A leaking basement is considered a material fact, and withholding that information would be a violation of license law and Commission rules. Therefore, the listing agent must disclose the leak to the buyer.
Reference:
NCREC Residential Property Disclosure Act Guidance
NCREC License Law and Rule Comments (Disclosure of Material Facts)
North Carolina General Statutes § 47E-4

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

A. The average value of all available comparables
B. The original price paid for the property
C. The cost to update the subject property
D. A reconciliation of values if more than one appraisal method is used

Answer: D

Explanation:
When using more than one approach to value (sales comparison, cost, and income), an appraiser must reconcile the results, weighting each method based on its relevance to the subject property. The original purchase price and average of all comps are not directly used in determining value. The cost to update may factor into adjustments but is not a primary valuation method. Therefore, the correct answer is D.
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NEW QUESTION # 90
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