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SOUTH CAROLINA REAL ESTATE PRINCIPLES 2.0 FINAL QUESTIONS WITH COMPLETE ANSWERS

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SOUTH CAROLINA REAL ESTATE PRINCIPLES 2.0 FINAL QUESTIONS WITH COMPLETE ANSWERS

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An appraisal may BEST be described as


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an exact science, artistically applied.

,All of the following should be included in a management agreement EXCEPT


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restrictions regarding ages of children.




When senior housing includes subsidized units, the property manager needs to be
familiar with


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state and federal rules pertaining to eligibility requirements and income
verification.




Lets


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go




The acronym CMA stands for


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, Comparative Market Analysis




The federal Equal Credit Opportunity Act allows lenders to discriminate against potential
borrowers on the basis of


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amount of income.




Which of the following is FALSE about asbestos?


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HUD requires that all residential buildings be tested for asbestos-containing
materials.




Which institution is known as a fiduciary lender?


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Savings association




Trust funds involved in the sale of real estate must be deposited

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within 48 hours of receipt of the offer, if cash.




Removing existing barriers when readily achievable in public buildings, such as adding
Braille markings to elevator buttons, is a requirement of which law?


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Americans with Disabilities Act




If a lender agrees to make a loan based on an 80% LTV, what is the amount of the loan if
the property appraises for $114,500 and the sales price is $116,900?


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$91,600




In this situation, the broker at XYZ Realty has a primary duty to promote and protect the
best interest of


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all three clients.

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