SC REAL ESTATE EXAM REVIEW
QUESTIONS WITH CORRECT ANSWERS
how |often |do |realtors |renew |licenses |- |CORRECT |ANSWER✔✔-every |2 |years |by |June |30th |
which |I |the |end |of |the |fiscal |year
how |many |hours |of |continuing |education |do |you |need |- |CORRECT |ANSWER✔✔-8 |hrs |every |2 |
years
how |long |do |you |need |to |wait |to |reinstate |your |license |after |it |is |revoked |- |CORRECT |
ANSWER✔✔-1 |yr
can |a |broker |in |charge |be |over |move |than |1 |branch |office |at |a |time |- |CORRECT |ANSWER✔✔-
yes
broker |in |charge, |receives |earnest |money |at |start |o |acceptance/written |acceptance |offer, |how |
long |does |he |have |to |deposit |it |- |CORRECT |ANSWER✔✔-48 |hours, |excluding |bank |holidays |
and |weekends
coastal |zone |management-erosion |of |two |things |that |affect |the |set |back |lines |- |CORRECT |
ANSWER✔✔-sand |dunes |and |beach |front
landlord |tenant |act-what |essential |service |does |he |provide |access |to |- |CORRECT |ANSWER✔✔-
heat--hot/cold |water--electricity
latent |material |defects |what |do |not |count |are |not |included |- |CORRECT |ANSWER✔✔-stigma |
defects
psychological
death |or |manor |of |death
,virus |not |transmitted |through |house
offsite |hazards
sex |offender
broker |in |charge |has |a |duty |to |notify |the |real |estate |commission |when |a |sales |person |moves |- |
CORRECT |ANSWER✔✔-yes
when |is |it |legal |to |represent |both |buyer/seller |- |CORRECT |ANSWER✔✔-dual |agency |form |is |
signed |by |both |clients
who |doesn't |have |to |have |a |real |estate |license |- |CORRECT |ANSWER✔✔-owner
attorney
trustees/receivers
forrester
government |employee
can |you |do |property |management |with |a |real |estate |license |- |CORRECT |ANSWER✔✔-yes
when |you |receive |a |deposit, |where |do |you |deposit |to |- |CORRECT |ANSWER✔✔-trust |account
4 |main |disciplinary |actions |that |the |RE |Comm |can |take |against |realtor |- |CORRECT |
ANSWER✔✔-revocation
fine |up |to |1000 |per |violation
suspension
public |reprimand
,dispute |of |earnest |money, |what |does |BIC |do? |- |CORRECT |ANSWER✔✔-hold |money |until |
dispute |is |resolved |by |written |agreement |or |court |order
what |kind |of |damages |does |earnest |money |cover |- |CORRECT |ANSWER✔✔-liquidated |damages
if |a |licensee |wants |to |transfer |companies |by |mail |- |CORRECT |ANSWER✔✔-transfer |form |sign |it
|and |new |BIC. |Send |in |old |license, |thy |will |send |new |license///////can |be |done |online
in |sc, |net/price |listing |illegal |- |CORRECT |ANSWER✔✔-yes
potential |grounds |for |disciplinary |action |- |CORRECT |ANSWER✔✔-fraud
forgery
comingling----
steering
blockbusting
redlining
what |is |the |max |against |someone |selling |real |estate |without |a |license |- |CORRECT |
ANSWER✔✔-up |to |500 |and |or |up |to |6 |months |in |jail
under |homestead |act, |3 |groups |that |qualify |for |discount? |- |CORRECT |ANSWER✔✔-62 |age |
elderly
disabled
legally |blind
3 |main |exceptions |of |to |our |duty |of |confidentiality |- |CORRECT |ANSWER✔✔-court |order
consent
, defend
if |a |buyer |chooses |not |to |be |represented |- |CORRECT |ANSWER✔✔-a |customer
what |state |legislative |act |lets |local |govt |zone |- |CORRECT |ANSWER✔✔-enabling |acts
if |seller |agrees |to |allow |selling |agent |to |keep |any |dollar |amount |over |certain |price |- |CORRECT |
ANSWER✔✔-net |listing
a |buyer |signs |agreement |and |it |doesn't |matter |who |procures |the |sale |- |CORRECT |
ANSWER✔✔-exclusive |buyer |agency |agreement
example |of |a |general |lien |- |CORRECT |ANSWER✔✔-judgement
what |specific |lien |are |not |recorded |in |public |record |- |CORRECT |ANSWER✔✔-property |taxes |
special |assessments
in |an |appraisal, |when |we |apply |the |3 |approaches |to |value |- |CORRECT |ANSWER✔✔-
reconciliation- |3 |approaches |to |value
3 |approaches |to |value |- |CORRECT |ANSWER✔✔-sales |comparison
income |
cost |approach
under |lead |paint |act, |it |applies |to |houses |built |before? |- |CORRECT |ANSWER✔✔-1978
buyer |has |how |many |days |to |test |for |lead |paint |- |CORRECT |ANSWER✔✔-10 |days
QUESTIONS WITH CORRECT ANSWERS
how |often |do |realtors |renew |licenses |- |CORRECT |ANSWER✔✔-every |2 |years |by |June |30th |
which |I |the |end |of |the |fiscal |year
how |many |hours |of |continuing |education |do |you |need |- |CORRECT |ANSWER✔✔-8 |hrs |every |2 |
years
how |long |do |you |need |to |wait |to |reinstate |your |license |after |it |is |revoked |- |CORRECT |
ANSWER✔✔-1 |yr
can |a |broker |in |charge |be |over |move |than |1 |branch |office |at |a |time |- |CORRECT |ANSWER✔✔-
yes
broker |in |charge, |receives |earnest |money |at |start |o |acceptance/written |acceptance |offer, |how |
long |does |he |have |to |deposit |it |- |CORRECT |ANSWER✔✔-48 |hours, |excluding |bank |holidays |
and |weekends
coastal |zone |management-erosion |of |two |things |that |affect |the |set |back |lines |- |CORRECT |
ANSWER✔✔-sand |dunes |and |beach |front
landlord |tenant |act-what |essential |service |does |he |provide |access |to |- |CORRECT |ANSWER✔✔-
heat--hot/cold |water--electricity
latent |material |defects |what |do |not |count |are |not |included |- |CORRECT |ANSWER✔✔-stigma |
defects
psychological
death |or |manor |of |death
,virus |not |transmitted |through |house
offsite |hazards
sex |offender
broker |in |charge |has |a |duty |to |notify |the |real |estate |commission |when |a |sales |person |moves |- |
CORRECT |ANSWER✔✔-yes
when |is |it |legal |to |represent |both |buyer/seller |- |CORRECT |ANSWER✔✔-dual |agency |form |is |
signed |by |both |clients
who |doesn't |have |to |have |a |real |estate |license |- |CORRECT |ANSWER✔✔-owner
attorney
trustees/receivers
forrester
government |employee
can |you |do |property |management |with |a |real |estate |license |- |CORRECT |ANSWER✔✔-yes
when |you |receive |a |deposit, |where |do |you |deposit |to |- |CORRECT |ANSWER✔✔-trust |account
4 |main |disciplinary |actions |that |the |RE |Comm |can |take |against |realtor |- |CORRECT |
ANSWER✔✔-revocation
fine |up |to |1000 |per |violation
suspension
public |reprimand
,dispute |of |earnest |money, |what |does |BIC |do? |- |CORRECT |ANSWER✔✔-hold |money |until |
dispute |is |resolved |by |written |agreement |or |court |order
what |kind |of |damages |does |earnest |money |cover |- |CORRECT |ANSWER✔✔-liquidated |damages
if |a |licensee |wants |to |transfer |companies |by |mail |- |CORRECT |ANSWER✔✔-transfer |form |sign |it
|and |new |BIC. |Send |in |old |license, |thy |will |send |new |license///////can |be |done |online
in |sc, |net/price |listing |illegal |- |CORRECT |ANSWER✔✔-yes
potential |grounds |for |disciplinary |action |- |CORRECT |ANSWER✔✔-fraud
forgery
comingling----
steering
blockbusting
redlining
what |is |the |max |against |someone |selling |real |estate |without |a |license |- |CORRECT |
ANSWER✔✔-up |to |500 |and |or |up |to |6 |months |in |jail
under |homestead |act, |3 |groups |that |qualify |for |discount? |- |CORRECT |ANSWER✔✔-62 |age |
elderly
disabled
legally |blind
3 |main |exceptions |of |to |our |duty |of |confidentiality |- |CORRECT |ANSWER✔✔-court |order
consent
, defend
if |a |buyer |chooses |not |to |be |represented |- |CORRECT |ANSWER✔✔-a |customer
what |state |legislative |act |lets |local |govt |zone |- |CORRECT |ANSWER✔✔-enabling |acts
if |seller |agrees |to |allow |selling |agent |to |keep |any |dollar |amount |over |certain |price |- |CORRECT |
ANSWER✔✔-net |listing
a |buyer |signs |agreement |and |it |doesn't |matter |who |procures |the |sale |- |CORRECT |
ANSWER✔✔-exclusive |buyer |agency |agreement
example |of |a |general |lien |- |CORRECT |ANSWER✔✔-judgement
what |specific |lien |are |not |recorded |in |public |record |- |CORRECT |ANSWER✔✔-property |taxes |
special |assessments
in |an |appraisal, |when |we |apply |the |3 |approaches |to |value |- |CORRECT |ANSWER✔✔-
reconciliation- |3 |approaches |to |value
3 |approaches |to |value |- |CORRECT |ANSWER✔✔-sales |comparison
income |
cost |approach
under |lead |paint |act, |it |applies |to |houses |built |before? |- |CORRECT |ANSWER✔✔-1978
buyer |has |how |many |days |to |test |for |lead |paint |- |CORRECT |ANSWER✔✔-10 |days
