South Carolina Real Estate Exam
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Terms in this set (46) Hide definitions
Mindy, a South Carolina resident, is buying a new home. $3,080
She'll occupy the home as her primary residence. It has a **Fair market value is multiplied by the assessment ratio to calculate the property's
fair market value of $220,000 and is in an area with a assessed value. For primary residences, this ratio is 4%. This is then multiplied by
millage rate of .350. What can she expect to pay in the millage rate to determine property taxes due.
property taxes?
Brent wants to work with a real estate broker as a buyer Sign a buyer representation agreement.
client. How can he do this? **To become a buyer client, Brent must sign the appropriate agency agreement
-Sign a buyer representation agreement. with the broker. Only the buyer representation agreement establishes an agent-
-Sign a Disclosure of Real Estate Brokerage Relationships. buyer client relationship.
-Sign a listing agreement.
-Sign a transaction brokerage agreement.
In addition to providing proof of character, an applicant Education and examination
seeking a new South Carolina real estate license after
their original was revoked must provide what other
proof?
Education and examination
Education and income
Examination and income
Experience and education
, South Carolina broker Craig Jenkins is selling his own Yes. He must disclose this on page one of any purchase offers he receives.
home. He discloses this fact in his marketing materials for **This disclosure must be written in bold, underlined, capital letters on the first
the house, and at his first substantive contact with page of all real estate purchase contracts Craig uses in personal transactions.
interested buyers. Should Craig disclose this fact
anywhere else?
-No. Craig has fulfilled his duties of disclosure.
-Yes. He must complete a Licensee-Seller Disclosure
form, and have any prospective buyers sign it before
submitting an offer.
-Yes. He must complete the Licensee-Seller Disclosure
form (and have the seller sign it) and disclose it on page
one of any purchase offers he receives.
-Yes. He must disclose this on page one of any purchase
offers he receives.
Carlos wants a real estate broker to help him sell his lake Sign a listing agreement.
house. He expects top-notch, full services. How can he **To become a seller client, Carlos must sign the appropriate agency agreement
get this? with the broker. Only a listing agreement establishes an agent-seller client
-Sign a buyer representation agreement. relationship.
-Sign a Disclosure of Real Estate Brokerage Relationships.
-Sign a listing agreement.
-Sign a transaction brokerage agreement.
Raquel's license was revoked by the South Carolina Real She must provide proof that she's reliable, has a good reputation for honest and
Estate Commission three years ago. She'd like to apply for fair conduct, has completed all education requirements within the last five years,
a new license. What does she need to do? and has passed all required exams.
-Anyone who had a real estate license revoked can never
apply for a new license.
-Nothing, after the revocation period has ended her
license will be automatically reinstated, assuming she's
kept up with renewal requirements over the last three
years.
-She must provide proof that she's reliable, has a good
reputation for honest and fair conduct, has completed all
education requirements within the last five years, and has
passed all required exams.
-She needs to submit a reinstatement application and
include a sworn statement from her broker-in-charge
detailing the supervision activities that will be provided to
ensure lawful practice of real estate.
When must the Real Estate Offer Rejection Form be used When a seller rejects an offer without countering it
in South Carolina?
A South Carolina agency agreement can be viewed as Employment contract between a client and brokerage
a(n) ___________. **By signing an agency agreement, clients are essentially hiring the brokerage to
-Disclosure of agency relationships work for them.
-Employment contract between a client and brokerage
-Employment contract between a customer and
brokerage
-Employment contract between a licensee and
brokerage
11 studiers recently 5.0 (4 reviews)
Save
Students also studied
Flashcard sets Study guides
South Carolina real estate National Real Estate Exam, National ... SC Property Management License E... South C
213 terms Teacher 1,857 terms 214 terms Teacher
fieldsa7 Preview rgsedillos Preview raina_brescio Preview ace
Terms in this set (46) Hide definitions
Mindy, a South Carolina resident, is buying a new home. $3,080
She'll occupy the home as her primary residence. It has a **Fair market value is multiplied by the assessment ratio to calculate the property's
fair market value of $220,000 and is in an area with a assessed value. For primary residences, this ratio is 4%. This is then multiplied by
millage rate of .350. What can she expect to pay in the millage rate to determine property taxes due.
property taxes?
Brent wants to work with a real estate broker as a buyer Sign a buyer representation agreement.
client. How can he do this? **To become a buyer client, Brent must sign the appropriate agency agreement
-Sign a buyer representation agreement. with the broker. Only the buyer representation agreement establishes an agent-
-Sign a Disclosure of Real Estate Brokerage Relationships. buyer client relationship.
-Sign a listing agreement.
-Sign a transaction brokerage agreement.
In addition to providing proof of character, an applicant Education and examination
seeking a new South Carolina real estate license after
their original was revoked must provide what other
proof?
Education and examination
Education and income
Examination and income
Experience and education
, South Carolina broker Craig Jenkins is selling his own Yes. He must disclose this on page one of any purchase offers he receives.
home. He discloses this fact in his marketing materials for **This disclosure must be written in bold, underlined, capital letters on the first
the house, and at his first substantive contact with page of all real estate purchase contracts Craig uses in personal transactions.
interested buyers. Should Craig disclose this fact
anywhere else?
-No. Craig has fulfilled his duties of disclosure.
-Yes. He must complete a Licensee-Seller Disclosure
form, and have any prospective buyers sign it before
submitting an offer.
-Yes. He must complete the Licensee-Seller Disclosure
form (and have the seller sign it) and disclose it on page
one of any purchase offers he receives.
-Yes. He must disclose this on page one of any purchase
offers he receives.
Carlos wants a real estate broker to help him sell his lake Sign a listing agreement.
house. He expects top-notch, full services. How can he **To become a seller client, Carlos must sign the appropriate agency agreement
get this? with the broker. Only a listing agreement establishes an agent-seller client
-Sign a buyer representation agreement. relationship.
-Sign a Disclosure of Real Estate Brokerage Relationships.
-Sign a listing agreement.
-Sign a transaction brokerage agreement.
Raquel's license was revoked by the South Carolina Real She must provide proof that she's reliable, has a good reputation for honest and
Estate Commission three years ago. She'd like to apply for fair conduct, has completed all education requirements within the last five years,
a new license. What does she need to do? and has passed all required exams.
-Anyone who had a real estate license revoked can never
apply for a new license.
-Nothing, after the revocation period has ended her
license will be automatically reinstated, assuming she's
kept up with renewal requirements over the last three
years.
-She must provide proof that she's reliable, has a good
reputation for honest and fair conduct, has completed all
education requirements within the last five years, and has
passed all required exams.
-She needs to submit a reinstatement application and
include a sworn statement from her broker-in-charge
detailing the supervision activities that will be provided to
ensure lawful practice of real estate.
When must the Real Estate Offer Rejection Form be used When a seller rejects an offer without countering it
in South Carolina?
A South Carolina agency agreement can be viewed as Employment contract between a client and brokerage
a(n) ___________. **By signing an agency agreement, clients are essentially hiring the brokerage to
-Disclosure of agency relationships work for them.
-Employment contract between a client and brokerage
-Employment contract between a customer and
brokerage
-Employment contract between a licensee and
brokerage
