Post Licensing 303 - Nc Law, Rules, And Legal Concepts |250 Questions| With Correct Answers.

A vacation rental is defined as: {Ans: Rental of residential property for vacation, leisure, or recreation purposes for less than 90 days in which the tenant has permanent residence elsewhere.}All of the following describe a townhome EXCEPT: {Ans: Individual ownership of the exterior of the unit plus the land on which the unit sits. Usually horizontally attached and share a common wall. Often shared use of common areas. XX Common areas are owned by the homeowners. Common areas are owned by the HOA, not by the homeowners.}Which of the following brokers has NOT committed misconduct: {Ans: XXArielle keeps her clients' money in separate trust accounts. Stephen keeps his clients' money in cash in a highly organized office filing system. Jeremiah keeps his clients' money in his personal savings account. Mike keeps some of his clients' money in personal savings and some in separate escrow accounts, depending on the amount.}Which of the following regarding smoke and carbon monoxide detectors is FALSE: {Ans: Carbon monoxide detectors are always mandatory. Carbon monoxide detectors are only mandatory if the property has fossil fuel appliances or is attached to a garage.}Of the following pass through provisions, which one does NOT pass