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NCREC-Broker-N Test Pass4sure, NCREC-Broker-N Valid Braindumps Files

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North Carolina Real Estate Commission NC Real Estate Broker National Sample Questions (Q40-Q45):

NEW QUESTION # 40
For which appraisal assignment is the gross rent multiplier (GRM) method MOST appropriate?

A. Warehouse complex
B. Residential duplex
C. Retail establishment
D. 10-unit apartment building

Answer: B

Explanation:
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.
Reference:
NCREC Appraisal Study Guide - Income Approach
Uniform Standards of Professional Appraisal Practice (USPAP) Guidelines on GRM Use

NEW QUESTION # 41
The owner of a lot that is 99 feet by 110 feet would like to sell it. Similar properties sell for $180,000 per acre.
What is the likely selling price for this property?

A. $90,000
B. $45,000
C. $54,450
D. $60,000

Answer: C

Explanation:
To find the likely selling price, first calculate the lot size in acres:
Lot size in square feet = 99 ft × 110 ft = 10,890 sq ft
1 acre = 43,560 sq ft
Lot size in acres = 10,890 ÷ 43,560 # 0.25 acres
Now, multiply the lot size by the price per acre:
0.25 acres × $180,000 per acre = $45,000
However, option A is $45,000 but answer given is B $54,450- why?
If the question assumes a different calculation like adding some premium or slightly different acre conversion, the closest and most reasonable answer based on exact acreage and price is $45,000 (Option A).
But considering typical NC REALTOR pricing calculations, they might use:
99 ft × 110 ft = 10,890 sq ft
Convert to acres = 10,890 ÷ 43,560 # 0.25 acres
$180,000 × 0.25 = $45,000
So the correct answer should beA. $45,000.
Reference:
NCREC Broker National (Broker-N) Study Guide, Section on Pricing and CMA Calculations NC Real Estate Commission-approved pricing methods NC REALTOR CMA Training Materials

NEW QUESTION # 42
In North Carolina, a buyer agent must disclose their agency status to the seller or the seller's agent:

A. at the initial contact.
B. at the first substantial contact.
C. no later than when presenting an offer.
D. no later than the first showing of the property.

Answer: A

Explanation:
North Carolina License Law and Rules state that a buyer's agent must disclose their agency statusat initial contactwith the seller or the seller's agent. The statute explicitly requires agency disclosure at the earliest interaction. Thus,option Ais correct.

NEW QUESTION # 43
What is the formula for calculating capital gain when a principal residence is sold?

A. Adjusted Basis / Amount Realized
B. Adjusted Basis - Amount Realized
C. Amount Realized + Adjusted Basis
D. Amount Realized - Adjusted Basis

Answer: D

Explanation:
Capital gain is determined by subtracting theadjusted basis(original cost plus improvements minus depreciation) from theamount realized(selling price minus selling costs). This matchesAmount Realized - Adjusted Basisas per the Broker#N Financing and Taxation section.

NEW QUESTION # 44
Under the provisions of the federal Truth in Lending Act (TILA) and Real Estate Settlement Procedures Act (RESPA), a lender must provide a borrower with the Closing Disclosure at least _________ prior to loan consummation.

A. 3 calendar days
B. 7 calendar days
C. 3 business days
D. 1 business day

Answer: C

Explanation:
TILA-RESPA Integrated Disclosure rules (TRID) require that theClosing Disclosurebe delivered to the consumerno later than 3 business days before consummationof the loan. This mandates a three-business- day review period for borrowers before finalizing the loan-makingoption Bcorrect.

NEW QUESTION # 45
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