Principles, Property, and Land Use Practice Question
Question
A supervising broker is reviewing a transaction file for the North Carolina Real Estate Broker Exam involving variance and material facts and due diligence practice. What should the licensee understand? (Item 50)
Answer choices
- A. Client funds may be mixed with business funds if the broker reconciles the account later.
- B. Recognize relief from zoning rules due to property-specific hardship in a way that fits North Carolina exam practice.
- C. The issue can be ignored if the parties want to close quickly.
- D. The rule applies only to commercial transactions and never to residential transactions.
Correct Answer
B. Recognize relief from zoning rules due to property-specific hardship in a way that fits North Carolina exam practice.
Explanation
The correct answer is B because variance requires candidates to recognize relief from zoning rules due to property-specific hardship. 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: medium
- Domain: Principles, Property, and Land Use
- Objective: variance