North Carolina License LawIntermediateNorth Carolina Exam
A person who acts as a real estate broker in NC without a license is subject to:
AA warning letter only
BCivil penalties and may be required to forfeit any compensation receivedCorrect
CA mandatory license exam retake
DOnly a reprimand from the local REALTOR association, under standard practice
Why Civil penalties and may be required to forfeit any compensation received Is Correct
Answer B: Civil penalties and may be required to forfeit any compensation received
Unlicensed practice of real estate brokerage in NC is illegal and subjects the person to civil penalties and forfeiture of any commissions or compensation received.
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Key Terms to Know
Steering
An illegal practice where a real estate agent directs buyers toward or away from certain neighborhoods based on the buyer's race, religion, national origin, or other protected characteristics.
BlockbustingAn illegal practice of inducing homeowners to sell by claiming that the entry of minority groups will lower property values.
RedliningAn illegal practice where lenders or insurers deny services or charge higher rates in certain neighborhoods based on the racial or ethnic composition of those areas.
Math Concepts
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