North Carolina License Law
The NCREC Education and Recovery Fund protects consumers who have suffered monetary damages from a licensee's:
ANegligent property inspection
BFraudulent or dishonest act in a real estate transaction✓ Correct
CFailure to close on time
DIncorrect property tax advice
Explanation
The Recovery Fund compensates consumers who obtain a civil judgment for fraud, misrepresentation, or deceit by a licensee and cannot collect from the licensee.
Related North Carolina North Carolina License Law Questions
- A North Carolina broker convicted of a felony must:
- Under NC license law, a broker who allows an unlicensed assistant to conduct negotiations with buyers or sellers is:
- The NCREC's primary mission is to:
- Which of the following activities is EXEMPT from the North Carolina license requirement?
- A broker in NC who fails to complete the required continuing education before the June 30 renewal deadline will have their license:
- Which agency regulates real estate licenses in North Carolina?
- How many continuing education hours must a full broker complete each license year in North Carolina?
- A North Carolina broker who receives compensation from both buyer and seller in the same transaction without disclosure to both parties has committed:
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 →