South Carolina Study Guide for State – QUESTIONS WITH ANSWERS

South Carolina Study Guide for State – |\ |\ |\ |\ |\ |\ |\




QUESTIONS WITH ANSWERS |\ |\




A listing agreement must always state
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a. the school district
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b. the price of the property
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c. the flood plain status
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d. the property tax rate - CORRECT ANSWERS ✔✔b. the
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price of the property|\ |\ |\




What is a person called that retains the services of
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another in South Carolina real estate?
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a. Owner |\




b. Customer
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c. Seller
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d. Client - CORRECT ANSWERS ✔✔Client
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What is a person called that is authorized and empowered
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by a written agency agreement to perform actions for a
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client?

,a. Principal
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b. Subagent
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c. Customer
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d. Agent - CORRECT ANSWERS ✔✔Agent
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Which of the below is NOT considered a "Third Party?"
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a. Escrow Agent
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b. Buyer
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c. Insurance Broker
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d. Mortgage Broker - CORRECT ANSWERS ✔✔Buyer
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What is an agency called when the broker is providing
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"customer service" to two unrepresented customers?
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a. Third Party
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b. Customer
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c. Transaction Broker
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d. Subagent - CORRECT ANSWERS ✔✔Transaction Broker
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,What is it called when the agent is in a "position of trust
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and confidence" with respect to another?
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a. Disclosed
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b. Fiduciary
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c. Mutual Agreement
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d. Good Conduct - CORRECT ANSWERS ✔✔Fiduciary
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What is a written instrument authorizing a person to act
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as the agent on behalf of another to the extent indicated
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in the instrument?
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a. Attorney-In-Fact
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b. Power of Attorney
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c. Transaction
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d. Contract - CORRECT ANSWERS ✔✔Power of Attorney
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Who is a competent person that is authorized by another
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to act in his or her place as a "proxy?"
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a. Agent
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b. Contract
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c. Buyer
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, d. Attorney-In-Fact - CORRECT ANSWERS ✔✔Attorney-In-
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Fact


A written agreement between parties (principal/client and
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agent).
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a. Fiduciary Relationship
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b. Personal
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c. Confidential
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d. Contractual and/or Consensual - CORRECT ANSWERS
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✔✔Contractual and/or Consensual |\ |\




What type of relationship would "the acts of the agent
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while acting within the scope of the authority given by the
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principal/client, are seen to be as if the principal/client
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had acted himself." The agency relation is
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__________________ in nature. |\ |\




a. Buyer |\




b. Personal
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c. Fiduciary Relationship
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d. Confidential - CORRECT ANSWERS ✔✔Personal
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