Nc Post Licensing - 303 Exam Questions (103 Terms) With Verified Definitions Updated 2024

All deposits must be made to the trust account within {Ans: 3 banking days/3 days of acceptance of receipt or contract acceptance, whichever is later}What typically covers the common areas of a condominium {Ans: the Condo Master Policy}Two options of a full broker {Ans: 1) Affiliate with a BIC/FIRM 2) Activate as a sole proprietor}An Active Real Estate License is required when - VIP {Ans: Assisting another for compensation in the providing of brokerage services including referral of business}Trust Accounts must be balanced {Ans: Every 30 days AND records retained for 3 years}When receiving Bonuses & Incentives {Ans: Disclosure AND consent by Principal is REQUIRED}