South Carolina Real Estate Latest Exam
|Questions with 100% verified Answers
A mortgagor is also known as the: - ✔️✔️borrower
Which action is legal as a real estate agent? (Antitrust Laws) - ✔️✔️Selling property you listed to
someone who resides in more then one state over.
A contract agreed to and signed under duress is what? - ✔️✔️voidable
The Bundle of Rights include: - ✔️✔️Possession, control, exclusion, enjoyment, disposition
CRV stands for Certificate of Reasonable Value and is issued by who? - ✔️✔️The department of
veterans affairs
What is Ginnie Mae's primary responsibility? - ✔️✔️to guarantee the security of loans
What is the best definition listed for the term: "conventional loan?" - ✔️✔️A type of loan that is
not insured or guaranteed by the government, but backed by private lenders.
An appurtenant easement has several ways of legal termination. Which of the following is NOT
a valid way to terminate an easement? - ✔️✔️Revocation by the servient owner
A tenant rented an apartment, signing a 12-month lease. After the lease expired, the tenant
paid 1 month's rent and got a receipt. What kind of leasehold does the tenant have? -
✔️✔️tenancy at will
What is tenancy at will - ✔️✔️tenancy without a predetermined duration for the tenancy
, Which of the following would NOT apply to the income approach in the valuation process? -
✔️✔️Depreciation
Is replacement cost and reproduction cost the same thing and if it is different, what is the
difference? - ✔️✔️No, the reproduction cost process looks at the cost of creating an exact
replica, while with the replacement cost process, it looks at the cost of replacing an insured
property with one of similar functionality.
The fact that land has a number of important uses is the basis for what essential element of
value? - ✔️✔️utility
Which of the following would not be considered real property? Fixture, easement, mineral
rights, mortgage - ✔️✔️A mortgage
An individual owned three acres of land. When she sold one acre to her friend, she reserved for
herself and family an appurtenant easement over the friend's land for ingress and egress. The
friend's land is what? - ✔️✔️the servient tenant
Servient Tenement - ✔️✔️Servient tenement is a parcel of land that is subject to an easement
and benefits another parcel of land
Which type of lien is a claim imposed against a property without the consent of its owner? -
✔️✔️Involuntary Lien
contingency - ✔️✔️a future event or circumstance which is possible but cannot be predicted with
certainty.
Generally speaking, what is the most common type of contingency? - ✔️✔️Financing or home
inspection
|Questions with 100% verified Answers
A mortgagor is also known as the: - ✔️✔️borrower
Which action is legal as a real estate agent? (Antitrust Laws) - ✔️✔️Selling property you listed to
someone who resides in more then one state over.
A contract agreed to and signed under duress is what? - ✔️✔️voidable
The Bundle of Rights include: - ✔️✔️Possession, control, exclusion, enjoyment, disposition
CRV stands for Certificate of Reasonable Value and is issued by who? - ✔️✔️The department of
veterans affairs
What is Ginnie Mae's primary responsibility? - ✔️✔️to guarantee the security of loans
What is the best definition listed for the term: "conventional loan?" - ✔️✔️A type of loan that is
not insured or guaranteed by the government, but backed by private lenders.
An appurtenant easement has several ways of legal termination. Which of the following is NOT
a valid way to terminate an easement? - ✔️✔️Revocation by the servient owner
A tenant rented an apartment, signing a 12-month lease. After the lease expired, the tenant
paid 1 month's rent and got a receipt. What kind of leasehold does the tenant have? -
✔️✔️tenancy at will
What is tenancy at will - ✔️✔️tenancy without a predetermined duration for the tenancy
, Which of the following would NOT apply to the income approach in the valuation process? -
✔️✔️Depreciation
Is replacement cost and reproduction cost the same thing and if it is different, what is the
difference? - ✔️✔️No, the reproduction cost process looks at the cost of creating an exact
replica, while with the replacement cost process, it looks at the cost of replacing an insured
property with one of similar functionality.
The fact that land has a number of important uses is the basis for what essential element of
value? - ✔️✔️utility
Which of the following would not be considered real property? Fixture, easement, mineral
rights, mortgage - ✔️✔️A mortgage
An individual owned three acres of land. When she sold one acre to her friend, she reserved for
herself and family an appurtenant easement over the friend's land for ingress and egress. The
friend's land is what? - ✔️✔️the servient tenant
Servient Tenement - ✔️✔️Servient tenement is a parcel of land that is subject to an easement
and benefits another parcel of land
Which type of lien is a claim imposed against a property without the consent of its owner? -
✔️✔️Involuntary Lien
contingency - ✔️✔️a future event or circumstance which is possible but cannot be predicted with
certainty.
Generally speaking, what is the most common type of contingency? - ✔️✔️Financing or home
inspection
