North Carolina License LawIntermediateNorth Carolina Exam
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 transactionCorrect
CFailure to close on time
DIncorrect property tax advice, under typical circumstances
Why Fraudulent or dishonest act in a real estate transaction Is Correct
Answer B: Fraudulent or dishonest act in a real estate transaction
The Recovery Fund compensates consumers who obtain a civil judgment for fraud, misrepresentation, or deceit by a licensee and cannot collect from the licensee.
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State-Specific Concepts
License Law
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