North Carolina License Law
When a NC broker leaves one firm to join another, they must:
AComplete additional CE before transferring
BNotify the NCREC of the affiliation change and transfer the license to the new firm✓ Correct
CWait 30 days before beginning work at the new firm
DRetake the state licensing exam
Explanation
When changing firms, a NC broker must notify the NCREC of the change and transfer their license affiliation to the new firm before engaging in brokerage activities under the new firm.
People Also Study
Related North Carolina Questions
- A NC real estate broker who changes their firm affiliation must notify NCREC within how many days?North Carolina License Law
- A licensee who changes their home address must notify the NCREC within:North Carolina License Law
- A NC broker who changes their mailing address must notify the NCREC within how many days?North Carolina License Law
- A broker in NC negotiates a listing for $450,000 and the home sells at full price. The 6% commission is shared 50/50 between listing and selling firms. Each firm's broker receives 70% of their firm's share. Each broker earns:Real Estate Math
- A NC broker may accept which of the following business structures for their brokerage activities?North Carolina License Law
Key Terms to Know
Deed
A written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
ProrationThe division of ongoing property expenses (taxes, HOA dues, rents) between buyer and seller at closing based on their respective days of ownership.
Transfer TaxA tax imposed by state or local governments when real property ownership is transferred, typically based on the sale price.
State-Specific Concepts
License Law
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 →