Join the discussion
Question 12/41
A homeowner has been trying to sell their house for some time, but buyers seem to be turned off by the odor from a nearby chicken farm. This is an example of:
Correct Answer: B
External obsolescence refers to a loss in property value caused by external factors beyond the property owner' s control. These could include undesirable neighboring properties, economic shifts, or environmental conditions. In this case, the unpleasant odor from the nearby chicken farm is an environmental factor reducing buyer interest. Therefore, the correct answer is B.
Add Comments
- Other Question (41q)
- Q1. A local bank refuses to make residential loans in a particular section of town because of ...
- Q2. Josh is a new North Carolina broker at Atlantic Realty. He just got his first listing and ...
- Q3. When submitting an offer, a buyer handed their broker an earnest money deposit in cash. To...
- Q4. A lease with a simple exchange of rent for occupancy, under which the tenant pays none of ...
- Q5. Under the North Carolina Timeshare Act, a timeshare developer must allow a buyer to cancel...
- Q6. By what right could a county acquire private land necessary to build a new highway ramp?...
- Q7. Which statement about acknowledging a deed is TRUE?...
- Q8. According to the North Carolina Real Estate Commission Rules, a broker must deliver a copy...
- Q9. Under the terms of the NCAR/NCBA Offer to Purchase and Contract (Standard Form 2-T), the s...
- Q10. A North Carolina resident who believes they were refused a lease in a new apartment buildi...
- Q11. Which statement about a North Carolina broker-in-charge (BIC) is TRUE?...
- Q12. A homeowner has been trying to sell their house for some time, but buyers seem to be turne...
- Q13. A North Carolina broker just received an offer to purchase a home they have listed. Accord...
- Q14. In North Carolina, a buyer agent must disclose their agency status to the seller or the se...
- Q15. When attempting to distinguish a fixture from personal property, one can ignore the:...
- Q16. After taking a listing on a property, a broker learns of major highway changes in the area...
- Q17. A provision in a contract that makes the parties' rights and obligations dependent on the ...
- Q18. The owner of a lot that is 99 feet by 110 feet would like to sell it. Similar properties s...
- Q19. On a settlement statement, the seller's net proceeds are calculated by:...
- Q20. A North Carolina real estate broker lists their vacation home for sale. A prospective buye...
- Q21. Under the provisions of the North Carolina Subdivision Streets Disclosure Law, a subdivisi...
- Q22. The buyer of a long-vacant lot plans to build a home. The zoning ordinance for the town in...
- Q23. In the context of antitrust laws, which action would be considered an example of a group b...
- Q24. Which of the following is a key characteristic of an exclusive right to sell listing agree...
- Q25. A seller discusses listing their home with a broker. The seller tells the broker that when...
- Q26. Which of the following actions by a listing broker is an example of willful misrepresentat...
- Q27. A week before closing, lightning struck the roof of the property being sold, doing about $...
- Q28. Under the provisions of a property management agreement, a property manager has a legal ob...
- Q29. What is the EPA's recommended action level for radon in the air, measured in picocuries pe...
- Q30. According to the North Carolina Good Funds Settlement Act, when can a broker expect to rec...
- Q31. Which of the following will an appraiser consider when appraising a property?...
- Q32. Which is the correct formula for finding the value of a property using a capitalization ra...
- Q33. According to the North Carolina Tenant Security Deposit Act, if a tenant signs a one-year ...
- Q34. A loan is set up so that the borrower's loan payments are for the same amount each month. ...
- Q35. North Carolina broker Chris has a buyer agency contract with Ike stating that Chris's firm...
- Q36. The owners of a house that was built in 1950 are planning to sell it. What must they do pr...
- Q37. A property owner owns 150 acres of land. Bordering one side of the property is a non-navig...
- Q38. An investor bought a small office building for $500,000. They sold it 10 years later for $...
- Q39. Which of the following statements regarding the proper handling of multiple offers in Nort...
- Q40. A comparable property sold for $300,000. It has a finished basement, while the subject pro...
- Q41. A broker who solicits active clients of other brokers may be guilty of:...
[×]
Download PDF File
Enter your email address to download NorthCarolinaRealEstateCommission.NCREC-Broker-N.v2025-09-11.q41.pdf