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Official North Carolina Real Estate Commission NCREC-Broker-N Practice Test & 100% NCREC-Broker-N Accuracy

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North Carolina Real Estate Commission NC Real Estate Broker National Sample Questions (Q66-Q71):

NEW QUESTION # 66
A buyer's stable monthly income is $6,800. Every month they pay a $485 car payment, $200 in a revolving credit payment, and $1,500 in alimony. Using ratios of 31% and 43%, what is the maximum monthly mortgage payment they would qualify for on an FHA-insured mortgage loan?

A. $1,972
B. $739
C. $2,108
D. $1,763

Answer: D

Explanation:
FHA mortgage qualification uses two ratios:
Housing ratio (Front-end): 31% of monthly gross income
Total debt ratio (Back-end): 43% of monthly gross income
Step 1: Calculate max housing (front-end)
31% × $6,800 = $2,108
Step 2: Calculate max total debts (back-end)
43% × $6,800 = $2,924
Subtract monthly debts: $485 + $200 + $1,500 = $2,185
Max mortgage payment allowed = $2,924 # $2,185 = $739
The borrower is limited by the back-end ratio, so the maximum housing expense is $739.
Note: The initial selected answer choice "B. $1,763" would exceed the debt ratio when combined with existing monthly obligations. The correct final answer is A.

NEW QUESTION # 67
It would be considered the unauthorized practice of law for a North Carolina real estate broker to:

A. modify an electronically generated preprinted form by marking a change requested by a client.
B. refer a client to an attorney to draft an addendum if there are special contract provisions.
C. draft an addendum to an offer if there are any special contract provisions.
D. complete a preprinted offer or sales contract form that has been drafted by an attorney.

Answer: C

Explanation:
North Carolina brokers are permitted to complete preprinted, attorney-approved forms (like Standard Form 2- T) and make handwritten changes at the direction of clients. However, they may not draft legal language or new provisions-doing so constitutes the unauthorized practice of law. Brokers must refer clients to an attorney when custom provisions or legal interpretations are needed. Therefore, the correct answer is B.

NEW QUESTION # 68
In the context of antitrust laws, which action would be considered an example of a group boycott?

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

Answer: D

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 # 69
A homeowner has been trying to sell their house for some time, but buyers seem to be turned off by the odor from a nearby chicken farm. This is an example of:

A. economic depreciation
B. external obsolescence
C. functional obsolescence
D. physical deterioration

Answer: B

Explanation:
External obsolescence refers to a loss in property value caused by external factors beyond the property owner' s control. These could include undesirable neighboring properties, economic shifts, or environmental conditions. In this case, the unpleasant odor from the nearby chicken farm is an environmental factor reducing buyer interest. Therefore, the correct answer is B.

NEW QUESTION # 70
A business may contact a former client for up to _______ after a transaction closes, even if that client is on the National Do Not Call Registry?

A. 18 months
B. 12 months
C. 24 months
D. 9 months

Answer: A

Explanation:
According to theNCREC Broker National (Broker-N)guidelines and the Federal Telephone Consumer Protection Act (TCPA), a real estate business may continue to contact a former client for up to18 monthsafter the conclusion of a transaction under the established business relationship exception, even if the client is on the National Do Not Call Registry. The NCREC's official materials affirm this 18-month contact window.
Reference:
NCREC Broker National (Broker-N) Compliance Guide, Section on Telemarketing and Client Communications Federal TCPA Rules, 47 C.F.R. § 64.1200(f)(5) NCREC Legal Update Bulletin, "Do Not Call and Client Relationships," 2023

NEW QUESTION # 71
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