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Practice Of Real EstateLicense LawMEDIUM

A listing broker in Apex is sorting out a file issue involving firm, office, BIC, and entity requirements. Which statement best applies under current North Carolina law?

Correct Answer

D) A designated BIC is associated with a specific office or firm responsibility rather than a vague statewide role.

A designated BIC is associated with a specific office or firm responsibility rather than a vague statewide role.

Answer Options
A
One broker may serve as BIC for unlimited unrelated offices at once.
B
A broker can be BIC for an unlicensed virtual office that does not exist.
C
BIC designation attaches automatically to every location where the firm advertises.
D
A designated BIC is associated with a specific office or firm responsibility rather than a vague statewide role.

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Related Topics & Key Terms

Key Terms:

bicdesignationdifficulty_3firm_office_bic_and_entity_requirementsnc_commission_rulesnc_statenorth_carolinaoffice_locationtiming_forms_exceptions_and_authority
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