North Carolina License Law
A NC broker's trust account must be designated as a:
ABusiness operating account
BTrust account clearly labeled and separate from the firm's operating funds✓ Correct
CInterest-bearing CD in the broker's name
DPersonal savings account
Explanation
NC trust accounts must be designated as trust accounts, clearly labeled as such, held in a federally insured bank in NC, and kept entirely separate from the broker's personal or operating funds.
Related North Carolina North Carolina License Law Questions
- A provisional broker in North Carolina who has not completed the post-licensing education within 18 months of initial licensure will have their license:
- The NCREC's mandatory update CE course covers:
- What is the maximum amount the NCREC Recovery Fund will pay per licensee for all claims against that licensee?
- Which of the following is TRUE about continuing education in North Carolina?
- If the NCREC pays a Recovery Fund claim on behalf of a licensee, what automatically happens to that licensee's license?
- In North Carolina, unlike most states, the entry-level license is called a:
- How many hours of pre-license education are required to sit for the North Carolina broker license exam?
- How many hours of continuing education must North Carolina brokers complete per year?
Practice More North Carolina Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free North Carolina Quiz →