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Practice Of Real EstateLicense LawMEDIUM

A transaction-file auditor in Greenville is reviewing licensure scope, definitions, and exemptions. Which statement is NOT accurate under current North Carolina law?

Correct Answer

C) A license is unnecessary if the broker is paid only a referral fee under current North Carolina rules

This choice is the inaccurate statement. The other three options describe the current North Carolina rule or guidance more accurately.

Answer Options
A
The North Carolina Real Estate Commission administers Chapter 93A and has authority over licensing and discipline.
B
A North Carolina attorney may perform acts that are part of the practice of law without holding a real estate broker license.
C
A license is unnecessary if the broker is paid only a referral fee under current North Carolina rules
D
An owner dealing with the owner's own property may fall within an exemption, but that exemption does not convert the activity into licensed brokerage for others.

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Related Topics & Key Terms

Key Terms:

compensationcore_rules_and_definitionsdifficulty_3exemptionsgs_93a_licensure_scope_and_definitionslicensingnc_license_lawnc_statenorth_carolinapractice_of_lawreverse
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