REAL ESTATE U SOUTH CAROLINA
FINAL EXAM VERSION 2 2026
UPDATE
Most residential leases are...? - Ans--Gross leases
A mortgage lien is an example of a/an...? - Ans--A voluntary lien
What is a licensee required to do when they are selling one of their listings to
a family member? - Ans--A licensee is required to provide both parties with
full disclosure that he or she is representing them both at the same time, and
both parties must agree to this arrangement.
Are real estate professionals subject to the limitations established by the
National Do Not Call Registry? - Ans--Yes. There are no exceptions to this
rule for real estate professionals.
All offers and counter offers need to be complete and presented promptly, as
well as always being? - Ans--In writing.
Which of the following water sources is not covered by the rules of the Safe
Drinking Water Act (SDWA)? - Ans--Wells serving fewer than 25 people
The South Carolina Real Estate Commission has a total of 10 members;
how many of them must be in the real estate profession? - Ans--All 10
Who typically forms Multiple Listing Services (MLS)? - Ans--Local real
estate boards who are members of the National Association of
REALTORS® (NAR)
How do brokers expect their agents to use a code of ethics? - Ans--As a way
to help them make complicated decisions on their own.
Which loan is considered a non-amortizing loan? - Ans--Interest-only loan
, The lender is also known as the...? - Ans--Mortgagee
In the real estate industry, what is the name for the relationship between a
principal and an agent? - Ans--Agency
Which of the following forms are brokers required to present to clients before
signing a listing or buyer's agreement? - Ans--A relationship disclosure
form.
One discount point is equal to ............of the loan amount. - Ans--1%
(percent)
How can ethical behaviors be described as they directly relate to your
professional conduct? - Ans--Free from bias, sustaining a high level of
standards as they relate to your conduct, and upholding the reputation of
your broker, agency, and the real estate industry as a whole.
What is it called when a life estate is based on someone else's life? - Ans--
Pur autre vie life estate
A comparative market analysis typically uses the .................to determine
the value of the subject property. - Ans--sales comparison approach
An interest-only loan is also referred to as a/an...? - Ans--Straight loan
Breaks occur in the chain of title when...? - Ans--The sequence of buyer to
seller is broken, and a buyer is found in the history of deeds with a seller that
did not have title to the property
Which of the following phrases describes a tenant who leases a property
without a written lease document? - Ans--Tenant at will
Which of the following types of agency is a subtype of an implied agency,
where a third party believes an agency relationship exists between an agent
and a principal? - Ans--Ostensible agency
Which type of agent is authorized to perform a range of acts on behalf of the
principal? - Ans--General agent.
FINAL EXAM VERSION 2 2026
UPDATE
Most residential leases are...? - Ans--Gross leases
A mortgage lien is an example of a/an...? - Ans--A voluntary lien
What is a licensee required to do when they are selling one of their listings to
a family member? - Ans--A licensee is required to provide both parties with
full disclosure that he or she is representing them both at the same time, and
both parties must agree to this arrangement.
Are real estate professionals subject to the limitations established by the
National Do Not Call Registry? - Ans--Yes. There are no exceptions to this
rule for real estate professionals.
All offers and counter offers need to be complete and presented promptly, as
well as always being? - Ans--In writing.
Which of the following water sources is not covered by the rules of the Safe
Drinking Water Act (SDWA)? - Ans--Wells serving fewer than 25 people
The South Carolina Real Estate Commission has a total of 10 members;
how many of them must be in the real estate profession? - Ans--All 10
Who typically forms Multiple Listing Services (MLS)? - Ans--Local real
estate boards who are members of the National Association of
REALTORS® (NAR)
How do brokers expect their agents to use a code of ethics? - Ans--As a way
to help them make complicated decisions on their own.
Which loan is considered a non-amortizing loan? - Ans--Interest-only loan
, The lender is also known as the...? - Ans--Mortgagee
In the real estate industry, what is the name for the relationship between a
principal and an agent? - Ans--Agency
Which of the following forms are brokers required to present to clients before
signing a listing or buyer's agreement? - Ans--A relationship disclosure
form.
One discount point is equal to ............of the loan amount. - Ans--1%
(percent)
How can ethical behaviors be described as they directly relate to your
professional conduct? - Ans--Free from bias, sustaining a high level of
standards as they relate to your conduct, and upholding the reputation of
your broker, agency, and the real estate industry as a whole.
What is it called when a life estate is based on someone else's life? - Ans--
Pur autre vie life estate
A comparative market analysis typically uses the .................to determine
the value of the subject property. - Ans--sales comparison approach
An interest-only loan is also referred to as a/an...? - Ans--Straight loan
Breaks occur in the chain of title when...? - Ans--The sequence of buyer to
seller is broken, and a buyer is found in the history of deeds with a seller that
did not have title to the property
Which of the following phrases describes a tenant who leases a property
without a written lease document? - Ans--Tenant at will
Which of the following types of agency is a subtype of an implied agency,
where a third party believes an agency relationship exists between an agent
and a principal? - Ans--Ostensible agency
Which type of agent is authorized to perform a range of acts on behalf of the
principal? - Ans--General agent.
