NCREC-Broker-N: North Carolina Real Estate Broker National
Real Estate Licensing NCREC-Broker-N Exam Dumps
Get All North Carolina Real Estate Broker National Exam Questions with Validated Answers
Vendor:
Real Estate Licensing
Exam Code:
NCREC-Broker-N
Exam Name:
North Carolina Real Estate Broker National
Exam Questions:
125
Last Updated:
October 7, 2026
Related Certifications:
Real Estate Licensing
Exam Tags:
Entry LevelBroker Candidates and Provisional Brokers
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Free Real Estate Licensing NCREC-Broker-N Exam Actual Questions
Question No. 1
[Miscellaneous Provisions and Notices -- Property Valuation]
What are the four elements of value that must exist in harmony to maximize the value of real property?
The Gross Rent Multiplier (GRM) is best suited for valuing small residential income properties, typically 1-4 units, where monthly rental income is a primary valuation factor. Among the options, a residential duplex (two units) fits this criteria perfectly. Larger multi-unit properties and commercial properties typically require more complex income capitalization approaches.
NCREC Appraisal Study Guide -- Income Approach
Uniform Standards of Professional Appraisal Practice (USPAP) Guidelines on GRM Use
Question No. 3
[Compliance with Laws and Regulations -- Lien Priority]
In North Carolina, which lien has the highest priority when property is sold to recover a debt?
In North Carolina, and in most states, ad valorem (real estate) property tax liens have ''superior lien'' status. They take precedence over all other liens, regardless of recording date. This includes mortgage liens and judgment liens. Therefore, even if a mortgage was recorded first, a property tax lien takes priority. Correct answer: A.
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Question No. 4
Which of these activities is prohibited by federal antitrust laws?
Federal antitrust laws, including the Sherman Antitrust Act, prohibit activities that restrict fair competition. One of the key prohibited practices is price-fixing---an agreement among competitors to set commission rates or pricing, which violates the requirement for competitive, independent business conduct. Price gouging is related to consumer protection during emergencies, and racial discrimination falls under fair housing law, not antitrust. Providing legal advice is a separate licensing concern. Therefore, A is correct.
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Question No. 5
[Compliance with Laws and Regulations -- Contract Capacity]
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?
For a contract to be valid and enforceable, all parties must have legal capacity at the time of signing. If the buyer can prove they were legally incompetent due to mental illness at the time of execution, they may have the right to void the contract---even if they later regained competence. Temporary or situational incompetence at the time of contract formation is legally sufficient to make the contract voidable. Therefore, the correct answer is D.
