sc real estate exam practice questions and answers 100% pass

sc real estate exam practice questions and answers 100% pass Darryl owns a property in a critical coastal area in South Carolina. What obligation does he have? - Correct Answer ️️ -Darryl must disclose that the property lies in a critical area and is subject to limitations. South Carolina licensee Joseph tells his client that a property is zoned as residential, even though he knows it's zoned as commercial. This violation is an example of ______. - Correct Answer ️️ -Making a substantial and willful misrepresentation Erin is purchasing a new house in South Carolina for $160,000. She's financing 90% of the sales price. What does the Consumer Protection Code permit in terms of prepayment penalties? - Correct Answer ️️ -A prepayment penalty isn't permitted on Erin's loan because the loan is for $150,000 or less. Which of these is a tenant obligation in South Carolina? - Correct Answer ️️ -Allow the landlord access when a periodic service or critical repair is needed When are designated agents permitted to disclose confidential information to their broker? - Correct Answer ️️ -When the designated agent is seeking advice or assistance for the client's benefit Which of the following is an example of commingling? - Correct Answer ️️ -Depositing trust funds into a general business account To receive a new South Carolina real estate license after the original was revoked, an applicant must provide proof of competence to practice real estate, a good reputation for honesty and fairness, and ________. - Correct Answer ️️ -Trustworthiness In South Carolina, smoke detectors are required in residential dwellings with how many units? - Correct Answer ️️ -One to two units In which of these scenarios would the consumer need a South Carolina real estate license? - Correct Answer ️️ -Jessie is negotiating the purchase a new home for a friend moving into town. Her friend will compensate her 2% of the sale price for her time and effort. Mathew is a South Carolina salesperson representing a seller on behalf of his broker-in- charge, Lanie. Kendra is a salesperson representing a buyer on behalf of her broker-in- charge, Janelle. Mathew's listing agreement provides for compensation to the buyer's agent in the transaction. Who will Kendra receive her compensation from? - Correct Answer ️️ -Janelle Alfred, a South Carolina licensee, received trust funds from a client on Monday. When must he deliver the funds to his broker-in-charge? - Correct Answer ️️ -By end of day Tuesday Which of these would NOT be considered first substantive contact with a customer? - Correct Answer ️️ -Engaging in small talk about the weather and the desire to buy property Time share sales are regulated by ______. - Correct Answer ️️ -The South Carolina Real Estate Commission Which one of the following is NOT an example of how agency terminates by operation of law? - Correct Answer ️️ -Mutual agreement to terminate What's true of the agency relationship in transaction brokerage? - Correct Answer ️️ - No agency relationship is created in transaction brokerage. Which of these South Carolina real estate license holders is considered to have an active license? - Correct Answer ️️ -Claudia, a salesperson who is lawfully representing clients in real estate transactions. Which one of the following is an example of how agency can be terminated by an act of the agent? - Correct Answer ️️ -Renunciation Dolcita is an unlicensed assistant for the Ace Team at Acme Realty in South Carolina. Which of the following best describes how Dolcita can be compensated for her work? - Correct Answer ️️ -Hourly, salaried, or per activity Wendell once held a real estate license in South Carolina. After some mishandling of trust funds, he's prohibited from practicing real estate for the next three years, after which he can apply for a new license. Which term best describes his current license status? - Correct Answer ️️ -Revoked Which of the following is an example of conversion? - Correct Answer ️️ -A broker uses client trust funds without the client's permission. How many members of the South Carolina Real Estate Commission are active real estate professionals? - Correct Answer ️️ -Eight What's a buyer representation agreement? - Correct Answer ️️ -A legal document that formalizes the working relationship between the agent and buyer client What must a consumer do to initiate an investigation into possible fair housing violations in the state of South Carolina? - Correct Answer ️️ -Submit a written complaint to the Human Affairs Commission When a South Carolina licensee is involved in a personal real estate transaction, which of the following must she disclose to the other parties to the transaction? - Correct Answer ️️ -Her licensed status Georgina is selling her South Carolina home to Stanley