North Carolina Property Management
Practice Questions & Answers (2026)
Property management questions on the North Carolina exam cover both the practical aspects of managing rental properties and the landlord-tenant law specific to North Carolina. The North Carolina Real Estate Commission (NCREC) tests security deposit limits, required notice periods for entry and termination, habitability standards, and the property manager's fiduciary duties. North Carolina's landlord-tenant law has specific provisions — including notice requirements and tenant protections — that differ from what national study materials cover. These questions often involve scenarios where a property manager must navigate competing obligations to the owner-client and the tenant.
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North Carolina Property Management — Practice Questions & Answers
149 questions on Property Management from the North Carolina real estate question bank. First 10 are free — sign up to unlock all 149.
Q1. In North Carolina, a property manager who collects rent and manages property for others must hold:
Explanation
Property management activities performed for compensation on behalf of others (leasing, collecting rent, managing) require a North Carolina real estate broker's license.
Q2. A property manager's primary fiduciary duty is owed to:
Explanation
As an agent, the property manager owes fiduciary duties of loyalty, care, and obedience to the property owner who employs them.
Q3. In North Carolina, a security deposit for a residential unit may not exceed:
Explanation
Under the NC Tenant Security Deposit Act, the maximum security deposit is one month's rent for week-to-week and month-to-month tenancies and two months' rent for longer fixed-term leases.
Q4. How many days does a North Carolina landlord have to return a security deposit after the tenant vacates?
Explanation
Under the NC Tenant Security Deposit Act, landlords must return the deposit (or provide an itemized statement of deductions) within 30 days of the tenant vacating.
Q5. The North Carolina Residential Rental Agreements Act requires landlords to:
Explanation
The NC Residential Rental Agreements Act creates an implied warranty of habitability requiring landlords to maintain the property in a fit and habitable condition.
Q6. A management agreement between a property manager and owner should include all of the following EXCEPT:
Explanation
A management agreement should outline fees, term, authority, and responsibilities. The manager's personal financial statements are not a required component.
Q7. Gross leases in commercial property management mean:
Explanation
In a gross lease, the landlord collects a fixed rent and pays most or all operating expenses (taxes, insurance, maintenance) from that rent.
Q8. A triple-net (NNN) lease requires the tenant to pay:
Explanation
In a triple-net lease, the tenant pays base rent plus the three 'nets': property taxes, building insurance, and maintenance/operating expenses.
Q9. A percentage lease typically found in retail properties requires the tenant to pay:
Explanation
A percentage lease consists of a minimum base rent plus an additional rent that is a percentage of the tenant's gross sales above a specified breakpoint.
Q10. The purpose of a property management trust account in North Carolina is to:
Explanation
Trust accounts must segregate client funds (security deposits, rents) from the broker's own operating funds to protect client money.
Q11. Under the NC Tenant Security Deposit Act, a landlord may deduct from a security deposit for:
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