REAL ESTATE U SOUTH CAROLINA Final
Exam UPDATED ACTUAL Questions and
CORRECT Answers | A+ Verified | 2026
• What is a licensee required to do when they are selling one of their listings to a family
member? -✓✓ 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? -✓✓ 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? -✓✓ In writing.
• Which of the following water sources is not covered by the rules of the Safe Drinking
Water Act (SDWA)? -✓✓ 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? -✓✓ All 10
• Who typically forms Multiple Listing Services (MLS)? -✓✓ 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? -✓✓ As a way to help
them make complicated decisions on their own.
• Which loan is considered a non-amortizing loan? -✓✓ Interest-only loan
• The lender is also known as the...? -✓✓ Mortgagee
• In the real estate industry, what is the name for the relationship between a principal
and an agent? -✓✓ Agency
• Which of the following forms are brokers required to present to clients before signing a
listing or buyer's agreement? -✓✓ A relationship disclosure form.
• One discount point is equal to ............of the loan amount. -✓✓ 1% (percent)
• How can ethical behaviors be described as they directly relate to your professional
conduct? -✓✓ 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? -✓✓ Pur autre vie
life estate
• A comparative market analysis typically uses the .................to determine the value of
the subject property. -✓✓ sales comparison approach
• An interest-only loan is also referred to as a/an...? -✓✓ Straight loan
• Breaks occur in the chain of title when...? -✓✓ 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? -✓✓ 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? -
✓✓ Ostensible agency
• Which type of agent is authorized to perform a range of acts on behalf of the principal?
-✓✓ General agent.
• Where does money borrowed from a bank come from? -✓✓ The federal government
backs loans
• A warranty deed is used for what purpose? -✓✓ To convey all rights and title to real
property with the promise that the property is free and clear of all liens
• Which of the following elements is not typically included in a commercial real estate
contract? -✓✓ Owner Occupency Clause
• If the annual property taxes are due sometime after the closing date, the seller will
receive a ................on the settlement statement. -✓✓ debit
• The charge by a lender for the use of money for a period of time is known as...? -✓✓
interest
• If the deed hasn't been recorded and a lender can't find any record of the transfer in
the county's property information, the property can't? -✓✓ Be used by the previous
owner to get a mortgage.
Exam UPDATED ACTUAL Questions and
CORRECT Answers | A+ Verified | 2026
• What is a licensee required to do when they are selling one of their listings to a family
member? -✓✓ 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? -✓✓ 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? -✓✓ In writing.
• Which of the following water sources is not covered by the rules of the Safe Drinking
Water Act (SDWA)? -✓✓ 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? -✓✓ All 10
• Who typically forms Multiple Listing Services (MLS)? -✓✓ 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? -✓✓ As a way to help
them make complicated decisions on their own.
• Which loan is considered a non-amortizing loan? -✓✓ Interest-only loan
• The lender is also known as the...? -✓✓ Mortgagee
• In the real estate industry, what is the name for the relationship between a principal
and an agent? -✓✓ Agency
• Which of the following forms are brokers required to present to clients before signing a
listing or buyer's agreement? -✓✓ A relationship disclosure form.
• One discount point is equal to ............of the loan amount. -✓✓ 1% (percent)
• How can ethical behaviors be described as they directly relate to your professional
conduct? -✓✓ 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? -✓✓ Pur autre vie
life estate
• A comparative market analysis typically uses the .................to determine the value of
the subject property. -✓✓ sales comparison approach
• An interest-only loan is also referred to as a/an...? -✓✓ Straight loan
• Breaks occur in the chain of title when...? -✓✓ 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? -✓✓ 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? -
✓✓ Ostensible agency
• Which type of agent is authorized to perform a range of acts on behalf of the principal?
-✓✓ General agent.
• Where does money borrowed from a bank come from? -✓✓ The federal government
backs loans
• A warranty deed is used for what purpose? -✓✓ To convey all rights and title to real
property with the promise that the property is free and clear of all liens
• Which of the following elements is not typically included in a commercial real estate
contract? -✓✓ Owner Occupency Clause
• If the annual property taxes are due sometime after the closing date, the seller will
receive a ................on the settlement statement. -✓✓ debit
• The charge by a lender for the use of money for a period of time is known as...? -✓✓
interest
• If the deed hasn't been recorded and a lender can't find any record of the transfer in
the county's property information, the property can't? -✓✓ Be used by the previous
owner to get a mortgage.
