SC REAL ESTATE EXAM REVIEW
How often do realtors renew licenses
Correct answer: every 2 years by June 30th which I the end of the scal 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 oice at a time
Correct answer: yes
broker in charge, receives earnest money at start o acceptance/written acceptance oer,
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 aect 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
osite hazards
sex oender
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
ne 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 condentiality
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
How often do realtors renew licenses
Correct answer: every 2 years by June 30th which I the end of the scal 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 oice at a time
Correct answer: yes
broker in charge, receives earnest money at start o acceptance/written acceptance oer,
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 aect 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
osite hazards
sex oender
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
ne 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 condentiality
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
