REAL ESTATE U SOUTH CAROLINA Final Exam
Version 2 Questions With Correct Answers|
Latest Update
Most residential leases are...?
Gross leases
A mortgage lien is an example of a/an...?
A voluntary lien
What is a licensee required to do when they are selling one of their listings to a
family member?
A licensee is required to provide both parties with full disclosure that he or she is
representing them both at the same time, and both parties must agree to this
arrangement.
Are real estate professionals subject to the limitations established by the
National Do Not Call Registry?
Yes. There are no exceptions to this rule for real estate professionals.
,All offers and counter offers need to be complete and presented promptly, as
well as always being?
In writing.
Which of the following water sources is not covered by the rules of the Safe
Drinking Water Act (SDWA)?
Wells serving fewer than 25 people
The South Carolina Real Estate Commission has a total of 10 members; how
many of them must be in the real estate profession?
All 10
Who typically forms Multiple Listing Services (MLS)?
Local real estate boards who are members of the National Association of
REALTORS® (NAR)
How do brokers expect their agents to use a code of ethics?
As a way to help them make complicated decisions on their own.
, Which loan is considered a non-amortizing loan?
Interest-only loan
The lender is also known as the...?
Mortgagee
In the real estate industry, what is the name for the relationship between a
principal and an agent?
Agency
Which of the following forms are brokers required to present to clients before
signing a listing or buyer's agreement?
A relationship disclosure form.
One discount point is equal to ............of the loan amount.
1% (percent)
Version 2 Questions With Correct Answers|
Latest Update
Most residential leases are...?
Gross leases
A mortgage lien is an example of a/an...?
A voluntary lien
What is a licensee required to do when they are selling one of their listings to a
family member?
A licensee is required to provide both parties with full disclosure that he or she is
representing them both at the same time, and both parties must agree to this
arrangement.
Are real estate professionals subject to the limitations established by the
National Do Not Call Registry?
Yes. There are no exceptions to this rule for real estate professionals.
,All offers and counter offers need to be complete and presented promptly, as
well as always being?
In writing.
Which of the following water sources is not covered by the rules of the Safe
Drinking Water Act (SDWA)?
Wells serving fewer than 25 people
The South Carolina Real Estate Commission has a total of 10 members; how
many of them must be in the real estate profession?
All 10
Who typically forms Multiple Listing Services (MLS)?
Local real estate boards who are members of the National Association of
REALTORS® (NAR)
How do brokers expect their agents to use a code of ethics?
As a way to help them make complicated decisions on their own.
, Which loan is considered a non-amortizing loan?
Interest-only loan
The lender is also known as the...?
Mortgagee
In the real estate industry, what is the name for the relationship between a
principal and an agent?
Agency
Which of the following forms are brokers required to present to clients before
signing a listing or buyer's agreement?
A relationship disclosure form.
One discount point is equal to ............of the loan amount.
1% (percent)
