SOUTH CAROLINA REAL ESTATE EXAM WITH CORRECT SOLUTIONS

SOUTH CAROLINA REAL ESTATE EXAM WITH CORRECT SOLUTIONS When a loan is subject to the provisions of the Real Estate Settlement Procedures Act (RESPA), Which of the following elements of the Real estate transaction need NOT observe RESPA guidelines - Answer -The Commission structure for licensees Regulation Z of the Truth_in lending Act Provides what penalty for licensees who willfully fail to comply with its advertising guidelines for real estate financing? - Answer -Fines and/or imprisionment Salesperson A for Broker B has listed a home. Salesperson C for Broker D is acting as a Buyers agent and trying to sell the same home to his buyer. Salesperson C is primarily responsible to: - Answer -Broker D In MOST states, the listing broker has a fiduciary duty with - Answer -The Client A broker was employed by an owner to sell her home. What does NOT correctly describe the broker's relationship to the owner - Answer -The broker is a General Agent You are a licensee holding an open house on one of your listings. An old friend sees the sign and stops in, and ultimately asks you to write an offer to purchase. At this point, without any discussion about agency, what is true about agency - Answer -Your friend is your Customer You listed a home that was subsequently shown by six cooperating outside brokers. How many selleragency relationships are involved in this transaction? - Answer -One A Salesperson listed a home for sale and transferred to another brokerage firm two weeks later. What describes the status of the statement. - Answer -The listing will s