EstatePass
Practice Of Real EstateLicense LawMEDIUM

A firm owner in Chapel Hill is sorting out a file issue involving BIC eligibility, designation, and supervision. Which statement best applies under current North Carolina law?

Correct Answer

B) The 12-hour Broker-in-Charge Course must be completed within one year before application or within 120 days after BIC Eligible status is granted.

The 12-hour Broker-in-Charge Course must be completed within one year before application or within 120 days after BIC Eligible status is granted.

Answer Options
A
A broker has 120 days after opening a trust account, but not after BIC Eligible status, to complete the BIC course.
B
The 12-hour Broker-in-Charge Course must be completed within one year before application or within 120 days after BIC Eligible status is granted.
C
The BIC course may be taken at any time after designation with no deadline.
D
The BIC course must be completed only after five years as a BIC under current North Carolina rules

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:

120_daysbic_coursebic_eligibility_designation_and_supervisionbic_eligiblecore_rules_and_definitionsdifficulty_3nc_license_lawnc_statenorth_carolina
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