Quiz Summary
0 of 50 Questions completed
Questions:
Information
You have already completed the quiz before. Hence you can not start it again.
Quiz is loading…
You must sign in or sign up to start the quiz.
You must first complete the following:
Results
Results
0 of 50 Questions answered correctly
Your time:
Time has elapsed
You have reached 0 of 0 point(s), (0)
Earned Point(s): 0 of 0, (0)
0 Essay(s) Pending (Possible Point(s): 0)
Categories
- Not categorized 0%
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10
- 11
- 12
- 13
- 14
- 15
- 16
- 17
- 18
- 19
- 20
- 21
- 22
- 23
- 24
- 25
- 26
- 27
- 28
- 29
- 30
- 31
- 32
- 33
- 34
- 35
- 36
- 37
- 38
- 39
- 40
- 41
- 42
- 43
- 44
- 45
- 46
- 47
- 48
- 49
- 50
- Current
- Review
- Answered
- Correct
- Incorrect
-
Question 1 of 50
1. Question
In North Carolina, Usually clouds on the title to real property cannot be removed except by:
CorrectIncorrect -
Question 2 of 50
2. Question
In North Carolina, The duration is the primary characteristic that distinguishes a ____________ from a _____________.
CorrectIncorrect -
Question 3 of 50
3. Question
In North Carolina, If a home is located in an area that is zoned for commercial use, the home will have minimum value because of what principle?
CorrectIncorrect -
Question 4 of 50
4. Question
In North Carolina, If two parties are in escrow and one of the parties wants to terminate the escrow, what is needed?
CorrectIncorrect -
Question 5 of 50
5. Question
In North Carolina, An additional individual who is both obligated on the loan and is on the title to the property is called:
CorrectIncorrect -
Question 6 of 50
6. Question
In North Carolina, A floodplain is:
CorrectIncorrect -
Question 7 of 50
7. Question
In North Carolina, Terry has not paid any rent on the property that she leases for a long period of time. She no longer intends on paying any future payments. The lawful expulsion of Terry would be by means of:
CorrectIncorrect -
Question 8 of 50
8. Question
In North Carolina, In a lease-purchase, the tenant-buyer wants to purchase a property but does not have the down payment or ability to purchase the property outright. Which of these occurs with the rental payments?
CorrectIncorrect -
Question 9 of 50
9. Question
In North Carolina, If Nila has a mortgage that is considered a “balloon mortgage”, Nila is required to:
CorrectIncorrect -
Question 10 of 50
10. Question
In North Carolina, Amanda is a real estate agent performing a title search on a property. After performing her due diligence, she finds that the title is a clear title. What does this mean?
CorrectIncorrect -
Question 11 of 50
11. Question
In North Carolina, Both a seller and a buyer ask the broker to give them the trust funds deposited by the buyer. How is the broker to respond?
CorrectIncorrect -
Question 12 of 50
12. Question
In North Carolina, Jeremy is a lender for a several loans. Once a year Jeremy performs a duty to make sure he is collecting the appropriate amount of money for the anticipated expenditures. This action that Jeremy takes is called a(n):
CorrectIncorrect -
Question 13 of 50
13. Question
In North Carolina, Freddie, an unlicensed employee of a real estate broker, hands out door hangers and makes telephone solicitations seeking buyers and sellers. Under the real estate law, these activities are:
CorrectIncorrect -
Question 14 of 50
14. Question
In North Carolina, The Civil Rights Act of 1866 prohibits:
CorrectIncorrect -
Question 15 of 50
15. Question
In North Carolina, An estate can be best described as:
CorrectIncorrect -
Question 16 of 50
16. Question
In North Carolina, A licensed real estate broker that specializes in property management usually acquires commission based on:
CorrectIncorrect -
Question 17 of 50
17. Question
In North Carolina, A technique in which a seller deeds property to a buyer for consideration, and the buyer simultaneously leases the property back to the seller is called:
CorrectIncorrect -
Question 18 of 50
18. Question
In North Carolina, When title is given to a person, it is showing that the person has a:
CorrectIncorrect -
Question 19 of 50
19. Question
In North Carolina, When Darius fails to make his monthly mortgage payment, he is likely to receive a formal written notice called a:
CorrectIncorrect -
Question 20 of 50
20. Question
In North Carolina, What does mortgage life insurance cover?
CorrectIncorrect -
Question 21 of 50
21. Question
In North Carolina, A title plant is a duplicate set of title records maintained at title insurance companies for use in:
CorrectIncorrect -
Question 22 of 50
22. Question
In North Carolina, If a mortgage has an adjustable rate but has limitations on how much the mortgage rate may adjust over a six-month period, an annual period, and over the life of the loan, this would be called:
CorrectIncorrect -
Question 23 of 50
23. Question
In North Carolina, The provision that states all prospective buyers are to be given the same opportunity to select available houses in their price range without restrictions because of race, color, religion, or national origin is found in which law?
CorrectIncorrect -
Question 24 of 50
24. Question
In North Carolina, This is any condition revealed by a title search that adversely affects the title to real estate:
CorrectIncorrect -
Question 25 of 50
25. Question
In North Carolina, If two property owners live as neighbors and one of them makes improvements to their property that accidentally crosses the legal property line of the other property owner, this would be termed as a(n):
CorrectIncorrect -
Question 26 of 50
26. Question
In North Carolina, Under a trustee’s power of sale, the right to foreclose a trust deed expires:
CorrectIncorrect -
Question 27 of 50
27. Question
In North Carolina, When someone is referring to PITI, they are referring to:
CorrectIncorrect -
Question 28 of 50
28. Question
In North Carolina, Heather has a written agreement with Erica that stipulates the conditions under which Heather may possess the property owned by Erica. The agreement outlines the specific period of time and when the payment is due. This agreement is:
CorrectIncorrect -
Question 29 of 50
29. Question
In North Carolina, The original amortization term minus the number of payments that have been applied is commonly referred to as:
CorrectIncorrect -
Question 30 of 50
30. Question
In North Carolina, If a contract was valid upon its creation but has subsequently passed the statute of limitations, the contract is now considered:
CorrectIncorrect -
Question 31 of 50
31. Question
In North Carolina, If the government is building a highway that is planned to pass directly through an individual’s private property, the government can enact eminent domain. However, the government must:
CorrectIncorrect -
Question 32 of 50
32. Question
In North Carolina, Conventional loans differ from FHA loans in that:
CorrectIncorrect -
Question 33 of 50
33. Question
In North Carolina, A provision in an agreement that requires the owner of a property to give another party the first opportunity to purchase or lease the property before it is offered for sale or lease to others is known as:
CorrectIncorrect -
Question 34 of 50
34. Question
In North Carolina, If brokers of different offices agree to set commission rates at a particular level, this would be a violation of:
CorrectIncorrect -
Question 35 of 50
35. Question
In North Carolina, In regards to contracts, if part of a contract is written and another part is printed, which part takes preference?
CorrectIncorrect -
Question 36 of 50
36. Question
In North Carolina, If a restaurant is located in a section of town that has been re-zoned from restaurant and retail to commercial office building development, the restaurant can remain there by use of:
CorrectIncorrect -
Question 37 of 50
37. Question
In North Carolina, On which date was Ginnie Mae created by congress?
CorrectIncorrect -
Question 38 of 50
38. Question
In North Carolina, A type of government loan that is NOT an FHA mortgage is called a(n):
CorrectIncorrect -
Question 39 of 50
39. Question
In North Carolina, A mortgage that can be assumed by the buyer when a home is sold is called an:
CorrectIncorrect -
Question 40 of 50
40. Question
In North Carolina, An escrow analysis is performed by the lender to ensure:
CorrectIncorrect -
Question 41 of 50
41. Question
In North Carolina, A 40-acre tract was purchased for $500 per acre and divided into 4 parcels. The parcels sold for $6,000 each. What was the percentage return on the purchase price?
CorrectIncorrect -
Question 42 of 50
42. Question
In North Carolina, If a married couple acquires property during their marriage, the property is considered to be:
CorrectIncorrect -
Question 43 of 50
43. Question
In North Carolina, Yin Lee is an owner of several properties as well as a relatively high profile individual. In order for Yin Lee to attempt to avoid a possible foreclosure from becoming a matter of public record by being recorded, Yin Lee would want to give the lender a:
CorrectIncorrect -
Question 44 of 50
44. Question
In North Carolina, A rate that is guaranteed by the lender for a certain period of time is referred to as:
CorrectIncorrect -
Question 45 of 50
45. Question
In North Carolina, Building heights, setbacks, and density are usually established by:
CorrectIncorrect -
Question 46 of 50
46. Question
In North Carolina, If a married couple owns property, and 5 years later one of them dies and willed their interest in the property to someone other than their spouse, which of the following happens (unless in a community property state)?
CorrectIncorrect -
Question 47 of 50
47. Question
In North Carolina, If another offer is introduced to an agent on the sale of a home, the agent:
CorrectIncorrect -
Question 48 of 50
48. Question
In North Carolina, When a real estate agent is viewing the report on the title of a property from the public records, or an abstract of the title, the agent is viewing:
CorrectIncorrect -
Question 49 of 50
49. Question
In North Carolina, This type of broker does not owe fiduciary duties to either party and is therefore not held to the same legal standards of conduct as a licensed real estate agent:
CorrectIncorrect -
Question 50 of 50
50. Question
In North Carolina, In the case of a cash sale, why would a seller wish to transfer an existing fire insurance policy?
CorrectIncorrect