1
SOUTH CAROLINA REAL ESTATE EXAM PRACTICE
QUESTIONS WITH DETAILED VERIFIED ANSWERS
(100% CORRECT ANSWERS) /ALREADY GRADED A+
The amount per $1,000 used to calculate taxes on property is the -
(answers)milliage rate
The common name of the hazardous-waste cleanup fund established by the
Comprehensive Environmental Response, Compensation and Liability Act
(CERCLA) is - (answers)superfund
May eviction and foreclosure notices be delivered electronically in South
Carolina? - (answers)NO
How many years of sales experience must a salesperson have in order to qualify
to take the brokers exam? - (answers)3
A development map that shows the location and sizes of lots and streets is known
as a - (answers)grid plan
he Residential Property Condition Disclosure form applies to transactions that
involve no more than, how many units? - (answers)4
How many years must a full copy of a transaction file be held by a broker after
closing? - (answers)5
, 2
Who is responsible for maintaining a habitable property and for complying with
local housing and building codes in a rental situation? - (answers)Lessor
Salespersons must present any client monies received, to their broker, within -
(answers)1 business day
The net spendable income generated by an investment is referred to as -
(answers)Cash flow
How long must a Broker in Charge or Property Manager in Charge retain their
Trust Fund Account records? - (answers)5 years
A recipient of a high cost loan on a property in South Carolina must -
(answers)receive counseling on the advisability of the loan
Mortgage "discount" points only apply if which of the following conditions are
met? - (answers)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? - (answers)30 days
Is SC a community property state? - (answers)No
SOUTH CAROLINA REAL ESTATE EXAM PRACTICE
QUESTIONS WITH DETAILED VERIFIED ANSWERS
(100% CORRECT ANSWERS) /ALREADY GRADED A+
The amount per $1,000 used to calculate taxes on property is the -
(answers)milliage rate
The common name of the hazardous-waste cleanup fund established by the
Comprehensive Environmental Response, Compensation and Liability Act
(CERCLA) is - (answers)superfund
May eviction and foreclosure notices be delivered electronically in South
Carolina? - (answers)NO
How many years of sales experience must a salesperson have in order to qualify
to take the brokers exam? - (answers)3
A development map that shows the location and sizes of lots and streets is known
as a - (answers)grid plan
he Residential Property Condition Disclosure form applies to transactions that
involve no more than, how many units? - (answers)4
How many years must a full copy of a transaction file be held by a broker after
closing? - (answers)5
, 2
Who is responsible for maintaining a habitable property and for complying with
local housing and building codes in a rental situation? - (answers)Lessor
Salespersons must present any client monies received, to their broker, within -
(answers)1 business day
The net spendable income generated by an investment is referred to as -
(answers)Cash flow
How long must a Broker in Charge or Property Manager in Charge retain their
Trust Fund Account records? - (answers)5 years
A recipient of a high cost loan on a property in South Carolina must -
(answers)receive counseling on the advisability of the loan
Mortgage "discount" points only apply if which of the following conditions are
met? - (answers)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? - (answers)30 days
Is SC a community property state? - (answers)No
