EstatePass
Practice Of Real EstateLicense LawHARD

A broker-in-charge in Mooresville is answering a client question about firm, office, BIC, and entity requirements. Which statement best applies under current North Carolina law?

Correct Answer

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

Why This Is the Correct Answer

Sign up free to unlock full analysis

Why the Other Options Are Wrong

Sign up free to unlock full analysis

Deep Analysis of This Practice Of Real Estate Question

Sign up free to unlock full analysis

Background Knowledge for Practice Of Real Estate

Sign up free to unlock full analysis
Sign up free to unlock full analysis

Real World Application in Practice Of Real Estate

Sign up free to unlock full analysis

Common Mistakes to Avoid on Practice Of Real Estate Questions

Sign up free to unlock full analysis

Related Topics & Key Terms

Key Terms:

bicdesignationdifficulty_4firm_office_bic_and_entity_requirementsnc_commission_rulesnc_statenorth_carolinaoffice_locationscenario_traps_edge_cases_and_enforcement
Was this explanation helpful?

More Practice Of Real Estate Questions

People Also Study

Practice More Questions

Access 2,000+ practice questions and pass your real estate exam.

Start Practicing