SOUTH CAROLINA REAL ESTATE EXAM PRACTICE
QUESTIONS
The amount per $1,000 used to calculate taxes on property is the - Answers - milliage
rate
The common name of the hazardous-waste cleanup fund established by the
Comprehensive Environmental Response, Compensation and Liability Act (CERCLA) is
- Answers - superfund
May eviction and foreclosure notices be delivered electronically in South Carolina? -
Answers - NO
How many years of sales experience must a salesperson have in order to qualify to take
the brokers exam? - Answers - 3
A development map that shows the location and sizes of lots and streets is known as a -
Answers - grid plan
he Residential Property Condition Disclosure form applies to transactions that involve
no more than, how many units? - Answers - 4
How many years must a full copy of a transaction file be held by a broker after closing?
- Answers - 5
Who is responsible for maintaining a habitable property and for complying with local
housing and building codes in a rental situation? - Answers - Lessor
Salespersons must present any client monies received, to their broker, within - Answers
- 1 business day
The net spendable income generated by an investment is referred to as - Answers -
Cash flow
How long must a Broker in Charge or Property Manager in Charge retain their Trust
Fund Account records? - Answers - 5 years
A recipient of a high cost loan on a property in South Carolina must - Answers - receive
counseling on the advisability of the loan
Mortgage "discount" points only apply if which of the following conditions are met? -
Answers - The interest rate on the mortgage loan has been lowered by 1% for each
point charged.
, How long does a South Carolina landlord have to return a security deposit to a tenant at
the conslusion of a lease? - Answers - 30 days
Is SC a community property state? - Answers - No
Lenders will always order this before making a loan. - Answers - an appraisal
Betty Broker presents an offer to her seller, but the terms are not acceptable to the
seller. What form must Betty complete? - Answers - an offer rejection form
Mortgage loans with fluctuating rates are termed as - Answers - ARM
Does South Carolina have homestead laws? - Answers - YES
A buyer is viewing a home and asks the agent if any sex offenders live in the immediate
area. How should the agent respond? - Answers - educate the buyer on doing a search
for sex offenders in the area
An easement by prescription may establish: - Answers - use of property
Disabled people are protected under Fair Housing law when renting in multi-family units.
How many units must be in the construction, in order for the law to apply? - Answers - 4
Which laws are intended to protect consumers from excessive interest rates on loans? -
Answers - usury laws
When purchasing a Vacation Time Sharing Plan, the consumer may cancel the contract
up to how may days after signing? - Answers - 5
Standing trees would be considered: - Answers - real property
A warrant of ejectment may be issued, upon landlords application, after how much time
has passed with the tenant being in violation of court orders? - Answers - 5 days
"Flipping" a consumer home loan means the making of a consumer home loan that
refinances within how long an existing consumer home loan of the borrower when the
new loan does not have a reasonable, tangible net benefit to the borrower? - Answers -
42 months
After getting the real estate salesperson license, how often must you take Continuing
Education classes? - Answers - 10 hrs every 2 years
The Truth in Lending Act (TILA) is implemented by - Answers - regulation Z
Which of the following isn't part of a deed? - Answers - novation
QUESTIONS
The amount per $1,000 used to calculate taxes on property is the - Answers - milliage
rate
The common name of the hazardous-waste cleanup fund established by the
Comprehensive Environmental Response, Compensation and Liability Act (CERCLA) is
- Answers - superfund
May eviction and foreclosure notices be delivered electronically in South Carolina? -
Answers - NO
How many years of sales experience must a salesperson have in order to qualify to take
the brokers exam? - Answers - 3
A development map that shows the location and sizes of lots and streets is known as a -
Answers - grid plan
he Residential Property Condition Disclosure form applies to transactions that involve
no more than, how many units? - Answers - 4
How many years must a full copy of a transaction file be held by a broker after closing?
- Answers - 5
Who is responsible for maintaining a habitable property and for complying with local
housing and building codes in a rental situation? - Answers - Lessor
Salespersons must present any client monies received, to their broker, within - Answers
- 1 business day
The net spendable income generated by an investment is referred to as - Answers -
Cash flow
How long must a Broker in Charge or Property Manager in Charge retain their Trust
Fund Account records? - Answers - 5 years
A recipient of a high cost loan on a property in South Carolina must - Answers - receive
counseling on the advisability of the loan
Mortgage "discount" points only apply if which of the following conditions are met? -
Answers - The interest rate on the mortgage loan has been lowered by 1% for each
point charged.
, How long does a South Carolina landlord have to return a security deposit to a tenant at
the conslusion of a lease? - Answers - 30 days
Is SC a community property state? - Answers - No
Lenders will always order this before making a loan. - Answers - an appraisal
Betty Broker presents an offer to her seller, but the terms are not acceptable to the
seller. What form must Betty complete? - Answers - an offer rejection form
Mortgage loans with fluctuating rates are termed as - Answers - ARM
Does South Carolina have homestead laws? - Answers - YES
A buyer is viewing a home and asks the agent if any sex offenders live in the immediate
area. How should the agent respond? - Answers - educate the buyer on doing a search
for sex offenders in the area
An easement by prescription may establish: - Answers - use of property
Disabled people are protected under Fair Housing law when renting in multi-family units.
How many units must be in the construction, in order for the law to apply? - Answers - 4
Which laws are intended to protect consumers from excessive interest rates on loans? -
Answers - usury laws
When purchasing a Vacation Time Sharing Plan, the consumer may cancel the contract
up to how may days after signing? - Answers - 5
Standing trees would be considered: - Answers - real property
A warrant of ejectment may be issued, upon landlords application, after how much time
has passed with the tenant being in violation of court orders? - Answers - 5 days
"Flipping" a consumer home loan means the making of a consumer home loan that
refinances within how long an existing consumer home loan of the borrower when the
new loan does not have a reasonable, tangible net benefit to the borrower? - Answers -
42 months
After getting the real estate salesperson license, how often must you take Continuing
Education classes? - Answers - 10 hrs every 2 years
The Truth in Lending Act (TILA) is implemented by - Answers - regulation Z
Which of the following isn't part of a deed? - Answers - novation
