EstatePass
Practice Of Real EstateLicense LawMEDIUM

A buyer representative in Concord 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
The BIC course must be completed only after five years as a BIC under current North Carolina rules
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
A broker has 120 days after opening a trust account, but not after BIC Eligible status, to complete the BIC course.
D
The BIC course may be taken at any time after designation with no deadline.

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_eligibledifficulty_3nc_license_lawnc_statenorth_carolinatiming_forms_exceptions_and_authority
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