If you fail, you will not receive your license. You will be able to retake your NC Driving Exam after a 5 day waiting period. However, you shouldn't rush retaking your exam. You should pay attention to what your examiner indicates as your weaknesses and work upon improving your driving skills.
On your NC Driving Exam, remember you want to demonstrate to your examiner that you know how to drive safely and efficiently. Remember to always check your mirrors, keep both hands on your steering wheel and maintain proper posture.
You should avoid any maneuvers that are dangerous or reckless. You should avoid changing lanes unnecessarily, taking your hands off the wheel, performing rolling stops and other bad driving habits that can endanger yourself, your examiner and the general public.
While knowing how to parallel park is a useful driving skill, the NC Driving Exam does not typically require you to parallel park. Being asked to parallel park is a rare, but still possible, occurrence. To be the most prepared, you should know how to parallel park before your NC Driving Exam.