Which of the following is correct regarding an applicant for broker-in-charge?
a. must be at least 25 yr of age
b. must have been licensed as a salesperson for at least five year
c. may be exempt by the commission from the education requirements
d. may substitute the property mgr-in-charge license for the broker-in-charge license
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, c. may be exempt by the commission from the education requirements
Under South Carolina law, which of the following needs to be licensed?
a. owner of a 30-unit apartment building
b. an employee of the state housing authority
c. a man who has been appointed the trustee of an estate
d. an auctioneer who auctions farm land
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d. an auctioneer who auctions farm land
A buyer broker delivers an offer to purchase and an earnest money check to the listing
broker. The seller of the property will not be able to see the offer for a week. When must
listing broker deposit the earnest money check into the escrow account?
a. 48 hrs of ratification, excluding sat., Sun., and bank holidays
b. 48 hrs of receipt, excluding weekend
c. 24 hrs of ratification
d. 24 hours of receipt
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a. 48 hrs of ratification, excluding sat., Sun., and bank holidays
A broker signs a listing agreement with a seller. The agreement contains the following
clause: "if the property has not been sold after 3 months from the date of the signing, the
,agreement will automatically continue for additional 3 month periods thereafter until the
property is sold" based on these facts, the agreement
a. is legal under South Carolina law because it contains a reference to a specific limit
b. is illegal in South Carolina
c. automatically receives a statutory six month listing period to this opening listing in
South Carolina
d. is legal under South Carolina law because the list periods are for less than 6 months
each
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b. is illegal in South Carolina
A real estate company has a property management division. In this situation, what are the
regulations regarding escrow accts?
a. a minimum of one escrow acct is required
b. seperate escrow accts must be maintained for rental and sales transactions
c. all rents may be placed in one escrow acct and security deposits must be placed in
another escrow acct
d. security deposit money must be kept in one escrow acct or rents must be paid directly
to the landlord
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, a. a minimum of one escrow acct is required
A licensee who allows his or her license to expire has how long to reinstate the license
without monetary penalty?
a. there is no "free" time
b. up to 30 days
c. no more than 365 days
d. 2 weeks
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a. there is no "free" time
In SC, application for any real estate license must
a. be completed before taking any written exam
b. contain a picture of the applicant
c. be made before May 31st of each year
d. be accompanied by a sworn statement attesting to the applicant's character
Give this one a try later!
a. be completed before the written exam
In South Carolina the age of legal competence is
a. 18
a. must be at least 25 yr of age
b. must have been licensed as a salesperson for at least five year
c. may be exempt by the commission from the education requirements
d. may substitute the property mgr-in-charge license for the broker-in-charge license
Give this one a try later!
, c. may be exempt by the commission from the education requirements
Under South Carolina law, which of the following needs to be licensed?
a. owner of a 30-unit apartment building
b. an employee of the state housing authority
c. a man who has been appointed the trustee of an estate
d. an auctioneer who auctions farm land
Give this one a try later!
d. an auctioneer who auctions farm land
A buyer broker delivers an offer to purchase and an earnest money check to the listing
broker. The seller of the property will not be able to see the offer for a week. When must
listing broker deposit the earnest money check into the escrow account?
a. 48 hrs of ratification, excluding sat., Sun., and bank holidays
b. 48 hrs of receipt, excluding weekend
c. 24 hrs of ratification
d. 24 hours of receipt
Give this one a try later!
a. 48 hrs of ratification, excluding sat., Sun., and bank holidays
A broker signs a listing agreement with a seller. The agreement contains the following
clause: "if the property has not been sold after 3 months from the date of the signing, the
,agreement will automatically continue for additional 3 month periods thereafter until the
property is sold" based on these facts, the agreement
a. is legal under South Carolina law because it contains a reference to a specific limit
b. is illegal in South Carolina
c. automatically receives a statutory six month listing period to this opening listing in
South Carolina
d. is legal under South Carolina law because the list periods are for less than 6 months
each
Give this one a try later!
b. is illegal in South Carolina
A real estate company has a property management division. In this situation, what are the
regulations regarding escrow accts?
a. a minimum of one escrow acct is required
b. seperate escrow accts must be maintained for rental and sales transactions
c. all rents may be placed in one escrow acct and security deposits must be placed in
another escrow acct
d. security deposit money must be kept in one escrow acct or rents must be paid directly
to the landlord
Give this one a try later!
, a. a minimum of one escrow acct is required
A licensee who allows his or her license to expire has how long to reinstate the license
without monetary penalty?
a. there is no "free" time
b. up to 30 days
c. no more than 365 days
d. 2 weeks
Give this one a try later!
a. there is no "free" time
In SC, application for any real estate license must
a. be completed before taking any written exam
b. contain a picture of the applicant
c. be made before May 31st of each year
d. be accompanied by a sworn statement attesting to the applicant's character
Give this one a try later!
a. be completed before the written exam
In South Carolina the age of legal competence is
a. 18
