Contracts, Finance, and Transfer Practice Question
Question
A license applicant is reviewing a practice scenario for the North Carolina Real Estate Broker Exam involving listing agreement and North Carolina Real Estate Commission. Which answer best reduces risk? (Item 57)
Answer choices
- A. Identify broker employment terms, compensation, property description, and authorization in a way that fits North Carolina exam practice.
- B. A verbal understanding always replaces a written real estate requirement.
- C. The safest practice is to avoid written documentation so fewer questions are raised later.
- D. A licensee may give legal conclusions instead of recommending qualified legal advice when uncertain.
Correct Answer
A. Identify broker employment terms, compensation, property description, and authorization in a way that fits North Carolina exam practice.
Explanation
The correct answer is A because listing agreement requires candidates to identify broker employment terms, compensation, property description, and authorization. The North Carolina reference keeps the scenario tied to state licensing practice, while the other options rely on unsafe assumptions about oral custom, escrow, client preference, independent licensee authority, or ignoring written duties.
Question details
- Difficulty: easy
- Domain: Contracts, Finance, and Transfer
- Objective: listing agreement