Principles, Property, and Land Use Practice Question
Question
An agent compares two similar exam concepts for the North Carolina Real Estate Broker Exam involving market value and North Carolina Real Estate Commission. Which response best applies the rule? (Item 15)
Answer choices
- A. A licensee may give legal conclusions instead of recommending qualified legal advice when uncertain.
- B. A verbal understanding always replaces a written real estate requirement.
- C. Identify the probable price under normal market conditions in a way that fits North Carolina exam practice.
- D. The safest practice is to avoid written documentation so fewer questions are raised later.
Correct Answer
C. Identify the probable price under normal market conditions in a way that fits North Carolina exam practice.
Explanation
The correct answer is C because market value requires candidates to identify the probable price under normal market conditions. 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: market value