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