SOUTH CAROLINA REAL ESTATE EXAM
Mindy, a South Carolina resident, is buying a new home. She'll occupy the home as her
primary residence. It has a fair market value of $220,000 and is in an area with a millage
rate of .350. What can she expect to pay in property taxes?
Correct answer: $3,080
**Fair market value is multiplied by the assessment ratio to calculate the property's
assessed value. For primary residences, this ratio is 4%. This is then multiplied by the
millage rate to determine property taxes due.
Brent wants to work with a real estate broker as a buyer client. How can he do this?
-Sign a buyer representation agreement.
-Sign a Disclosure of Real Estate Brokerage Relationships.
-Sign a listing agreement.
-Sign a transaction brokerage agreement.
Correct answer: Sign a buyer representation agreement.
**To become a buyer client, Brent must sign the appropriate agency agreement with the
broker. Only the buyer representation agreement establishes an agent-buyer client
relationship.
In addition to providing proof of character, an applicant seeking a new South Carolina real
estate license after their original was revoked must provide what other proof?
Education and examination
Education and income
Examination and income
Experience and education
Correct answer: Education and examination
, South Carolina broker Craig Jenkins is selling his own home. He discloses this fact in his
marketing materials for the house, and at his rst substantive contact with interested
buyers. Should Craig disclose this fact anywhere else?
-No. Craig has fullled his duties of disclosure.
-Yes. He must complete a Licensee-Seller Disclosure form, and have any prospective
buyers sign it before submitting an oer.
-Yes. He must complete the Licensee-Seller Disclosure form (and have the seller sign it)
and disclose it on page one of any purchase oers he receives.
-Yes. He must disclose this on page one of any purchase oers he receives.
Correct answer: Yes. He must disclose this on page one of any purchase oers he
receives.
**This disclosure must be written in bold, underlined, capital letters on the rst page of all
real estate purchase contracts Craig uses in personal transactions.
Carlos wants a real estate broker to help him sell his lake house. He expects top-notch, full
services. How can he get this?
-Sign a buyer representation agreement.
-Sign a Disclosure of Real Estate Brokerage Relationships.
-Sign a listing agreement.
-Sign a transaction brokerage agreement.
Correct answer: Sign a listing agreement.
**To become a seller client, Carlos must sign the appropriate agency agreement with the
broker. Only a listing agreement establishes an agent-seller client relationship.
Raquel's license was revoked by the South Carolina Real Estate Commission three years
ago. She'd like to apply for a new license. What does she need to do?
-Anyone who had a real estate license revoked can never apply for a new license.
-Nothing, after the revocation period has ended her license will be automatically
reinstated, assuming she's kept up with renewal requirements over the last three years.
Mindy, a South Carolina resident, is buying a new home. She'll occupy the home as her
primary residence. It has a fair market value of $220,000 and is in an area with a millage
rate of .350. What can she expect to pay in property taxes?
Correct answer: $3,080
**Fair market value is multiplied by the assessment ratio to calculate the property's
assessed value. For primary residences, this ratio is 4%. This is then multiplied by the
millage rate to determine property taxes due.
Brent wants to work with a real estate broker as a buyer client. How can he do this?
-Sign a buyer representation agreement.
-Sign a Disclosure of Real Estate Brokerage Relationships.
-Sign a listing agreement.
-Sign a transaction brokerage agreement.
Correct answer: Sign a buyer representation agreement.
**To become a buyer client, Brent must sign the appropriate agency agreement with the
broker. Only the buyer representation agreement establishes an agent-buyer client
relationship.
In addition to providing proof of character, an applicant seeking a new South Carolina real
estate license after their original was revoked must provide what other proof?
Education and examination
Education and income
Examination and income
Experience and education
Correct answer: Education and examination
, South Carolina broker Craig Jenkins is selling his own home. He discloses this fact in his
marketing materials for the house, and at his rst substantive contact with interested
buyers. Should Craig disclose this fact anywhere else?
-No. Craig has fullled his duties of disclosure.
-Yes. He must complete a Licensee-Seller Disclosure form, and have any prospective
buyers sign it before submitting an oer.
-Yes. He must complete the Licensee-Seller Disclosure form (and have the seller sign it)
and disclose it on page one of any purchase oers he receives.
-Yes. He must disclose this on page one of any purchase oers he receives.
Correct answer: Yes. He must disclose this on page one of any purchase oers he
receives.
**This disclosure must be written in bold, underlined, capital letters on the rst page of all
real estate purchase contracts Craig uses in personal transactions.
Carlos wants a real estate broker to help him sell his lake house. He expects top-notch, full
services. How can he get this?
-Sign a buyer representation agreement.
-Sign a Disclosure of Real Estate Brokerage Relationships.
-Sign a listing agreement.
-Sign a transaction brokerage agreement.
Correct answer: Sign a listing agreement.
**To become a seller client, Carlos must sign the appropriate agency agreement with the
broker. Only a listing agreement establishes an agent-seller client relationship.
Raquel's license was revoked by the South Carolina Real Estate Commission three years
ago. She'd like to apply for a new license. What does she need to do?
-Anyone who had a real estate license revoked can never apply for a new license.
-Nothing, after the revocation period has ended her license will be automatically
reinstated, assuming she's kept up with renewal requirements over the last three years.
