SOUTH CAROLINA REAL ESTATE EXAM PRACTICE QUESTIONS WITH CORRECT SOLUTIONS The amount per $1,000 used to calculate taxes on property is the - Correct Answer ✔️✔️-
milliage rate The common name of the hazardous -waste cleanup fund established by the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA) is - Correct Answer ✔️✔️-superfund May eviction and foreclosure notices be delivered electronically in South Carolina? - Correct Answer ✔️✔️-NO How many years of sales experience must a salesperson have in order to qualify to take the brokers exam? - Correct Answer ✔️✔️-3 A development map that shows the location and sizes of lots and streets is known as a - Correct Answer ✔️✔️-grid plan he Residential Property Condition Disclosure form applies to transactions that involve no more than, how many units? - Correct Answer ✔️✔️-4 How many years must a full copy of a transaction file be held by a broker after closing? - Correct Answer ✔️✔️-5 Who is responsible for maintaining a habitable property and for complying with local housing and building codes in a rental situation? - Correct Answer ✔️✔️-Lessor Salespersons must present any client monies received, to their brok er, within - Correct Answer ✔️✔️-1 business day The net spendable income generated by an investment is referred to as - Correct Answer ✔️✔️-Cash flow How long must a Broker in Charge or Property Manager in Charge retain their Trust Fund Account records? - Correct Answer ✔️✔️-5 years A recipient of a high cost loan on a property in South Carolina must - Correct Answer ✔️✔️-receive counseling on the advisability of the loan Mortgage "discount" points only apply if which of the following conditions are met? - Correct Answer ✔️✔️-The interest rate on the mortgage loan has been lowered by 1% for each point charged. How long does a South Carolina landlord have to return a security deposit to a tenant at the conslusion of a lease? - Correct Answer ✔️✔️-30 days Is SC a community property state? - Correct Answer ✔️✔️-No Lenders will always order this before making a loan. - Correct Answer ✔️✔️-an appraisal Betty Broker presents an offer to her seller, but the terms are not acceptable to the seller. What form must Betty complete? - Correct Answer ✔️✔️-an offer rejection form Mortgage loans with fluctuating rates are termed as - Correct Answer ✔️✔️-ARM Does So uth Carolina have homestead laws? - Correct Answer ✔️✔️-YES A buyer is viewing a home and asks the agent if any sex offenders live in the immediate area. How should the agent respond? - Correct Answer ✔️✔️-educate the buyer on doing a search for sex offend ers in the area
milliage rate The common name of the hazardous -waste cleanup fund established by the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA) is - Correct Answer ✔️✔️-superfund May eviction and foreclosure notices be delivered electronically in South Carolina? - Correct Answer ✔️✔️-NO How many years of sales experience must a salesperson have in order to qualify to take the brokers exam? - Correct Answer ✔️✔️-3 A development map that shows the location and sizes of lots and streets is known as a - Correct Answer ✔️✔️-grid plan he Residential Property Condition Disclosure form applies to transactions that involve no more than, how many units? - Correct Answer ✔️✔️-4 How many years must a full copy of a transaction file be held by a broker after closing? - Correct Answer ✔️✔️-5 Who is responsible for maintaining a habitable property and for complying with local housing and building codes in a rental situation? - Correct Answer ✔️✔️-Lessor Salespersons must present any client monies received, to their brok er, within - Correct Answer ✔️✔️-1 business day The net spendable income generated by an investment is referred to as - Correct Answer ✔️✔️-Cash flow How long must a Broker in Charge or Property Manager in Charge retain their Trust Fund Account records? - Correct Answer ✔️✔️-5 years A recipient of a high cost loan on a property in South Carolina must - Correct Answer ✔️✔️-receive counseling on the advisability of the loan Mortgage "discount" points only apply if which of the following conditions are met? - Correct Answer ✔️✔️-The interest rate on the mortgage loan has been lowered by 1% for each point charged. How long does a South Carolina landlord have to return a security deposit to a tenant at the conslusion of a lease? - Correct Answer ✔️✔️-30 days Is SC a community property state? - Correct Answer ✔️✔️-No Lenders will always order this before making a loan. - Correct Answer ✔️✔️-an appraisal Betty Broker presents an offer to her seller, but the terms are not acceptable to the seller. What form must Betty complete? - Correct Answer ✔️✔️-an offer rejection form Mortgage loans with fluctuating rates are termed as - Correct Answer ✔️✔️-ARM Does So uth Carolina have homestead laws? - Correct Answer ✔️✔️-YES A buyer is viewing a home and asks the agent if any sex offenders live in the immediate area. How should the agent respond? - Correct Answer ✔️✔️-educate the buyer on doing a search for sex offend ers in the area
