SC Property Management Chapter 1 Exam Questions And Answers Latest Update
SC Property Management Chapter 1 Exam
Questions And Answers Latest Update
Security deposits received in the agent's personal rental transaction are not
required to be deposited in a trust account?
a. true
b. false - ✔✔✔-b. false
Disputed trust funds can be disbursed in the following ways:
a. verbal agreement between the parties
b. broker interprets contract and writes checks
c. written agreement between the parties
d. following buyer client's instructions as to disbursement - ✔✔✔-c. written
agreement between the parties
Action may be instituted against a real estate licensee by a customer for
information contained in the Residential Property Condition Disclosure Form if the
real estate licensee is a signatory to that report.
a. true
b. false - ✔✔✔-a. true
No cause of action may arise against a licensee for failure to disclose
a. material facts that should have been know to the agent
b. the location of any registered sex offender
c. any offsite condition that materially impacts the property being transferred
d. the fact that the road is set to be widened to four lanes in the next year. - ✔✔✔-
b. the location of any registered sex offender
A licensee can be disciplined for:
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,SC Property Management Chapter 1 Exam Questions And Answers Latest Update
a. telling his/her client about stigmatizations
b. disclosing stigmatizations in response to a direct inquiry
c. disclosing material facts that appeared in an inspection report
d. making an intentional misrepresentation in response to a direct inquiry - ✔✔✔-d.
making an intentional misrepresentation in response to a direct inquiry
A resident licensee may pay a part of his/her commission on a cooperative basis to
a licensee of another state if that licensee does not conduct any of the negotiations
for which a fee, compensation or commission is paid in this state.
a. true
b. false - ✔✔✔-a. true
Pertaining to failure to disclose agency relationships:
a. surveys have shown the public understands how state statutes control the
actions and behaviors of licensees
b. licensees are required to give a meaningful explanation of agency at first
substantive contact and give the agency disclosure brochure to all consumers with
whom they have substantive contact
c. licensees are required to give a meaningful explanation of agency at first
physical contact, but do not have to give the agency disclosure brochure to anyone
except clients
d. no action can be brought against a licensee for failure to disclose the party or
parties for whom the licensee will be acting as an agent - ✔✔✔-b. licensees are
required to give a meaningful explanation of agency at first substantive contact
and give the agency disclosure brochure to all consumers with whom they have
substantive contact
If you are representing a seller as a single-agency client, what forms should be
used?
a. an agency-disclosure brochure and a buyer-agency agreement
b. a listing agreement and a buyer-agency agreement
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, SC Property Management Chapter 1 Exam Questions And Answers Latest Update
c. an agency-disclosure brochure and a designated agency consent agreement
d. an agency-disclosure brochure and a listing agreement - ✔✔✔-d. an agency-
disclosure brochure and a listing agreement
The services you must give to a customer do not include:
a. confidentiality
b. accounting for money and property received
c. providing a meaningful explanation of agency relationships
d. providing an explanation of the scope of services to be provided - ✔✔✔-a.
confidentiality
Practicing dual-agency without the full written knowledge and consent of all parties
is:
a. acceptable if both parties verbally agree to the reduction in service
b. acceptable if the BIC creates a form stating the intent to reduce services and
both parties sign the in-house form
c. acceptable if the office policy is dual or designated agency
d. a violation of license law - ✔✔✔-d. a violation of license law
It is an acceptable practice for a licensee to:
a. make direct contact with the buyer client of another licensee as long as he/she
does so with the knowledge and permission of the buyer's agent
b. talk someone into breaking a representation agreement with another as long as
the licensee discloses why he/she thinks it is in the best interest of the client
c. advise a tenant to break a lease in order to sell him/her a property as long as the
licensee discloses why he/she thinks it is in the tenant's best interest
d. none of the above - ✔✔✔-a. make direct contact with the buyer client of another
licensee as long as he/she does so with the knowledge and permission of the
buyer's agent
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SC Property Management Chapter 1 Exam
Questions And Answers Latest Update
Security deposits received in the agent's personal rental transaction are not
required to be deposited in a trust account?
a. true
b. false - ✔✔✔-b. false
Disputed trust funds can be disbursed in the following ways:
a. verbal agreement between the parties
b. broker interprets contract and writes checks
c. written agreement between the parties
d. following buyer client's instructions as to disbursement - ✔✔✔-c. written
agreement between the parties
Action may be instituted against a real estate licensee by a customer for
information contained in the Residential Property Condition Disclosure Form if the
real estate licensee is a signatory to that report.
a. true
b. false - ✔✔✔-a. true
No cause of action may arise against a licensee for failure to disclose
a. material facts that should have been know to the agent
b. the location of any registered sex offender
c. any offsite condition that materially impacts the property being transferred
d. the fact that the road is set to be widened to four lanes in the next year. - ✔✔✔-
b. the location of any registered sex offender
A licensee can be disciplined for:
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,SC Property Management Chapter 1 Exam Questions And Answers Latest Update
a. telling his/her client about stigmatizations
b. disclosing stigmatizations in response to a direct inquiry
c. disclosing material facts that appeared in an inspection report
d. making an intentional misrepresentation in response to a direct inquiry - ✔✔✔-d.
making an intentional misrepresentation in response to a direct inquiry
A resident licensee may pay a part of his/her commission on a cooperative basis to
a licensee of another state if that licensee does not conduct any of the negotiations
for which a fee, compensation or commission is paid in this state.
a. true
b. false - ✔✔✔-a. true
Pertaining to failure to disclose agency relationships:
a. surveys have shown the public understands how state statutes control the
actions and behaviors of licensees
b. licensees are required to give a meaningful explanation of agency at first
substantive contact and give the agency disclosure brochure to all consumers with
whom they have substantive contact
c. licensees are required to give a meaningful explanation of agency at first
physical contact, but do not have to give the agency disclosure brochure to anyone
except clients
d. no action can be brought against a licensee for failure to disclose the party or
parties for whom the licensee will be acting as an agent - ✔✔✔-b. licensees are
required to give a meaningful explanation of agency at first substantive contact
and give the agency disclosure brochure to all consumers with whom they have
substantive contact
If you are representing a seller as a single-agency client, what forms should be
used?
a. an agency-disclosure brochure and a buyer-agency agreement
b. a listing agreement and a buyer-agency agreement
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, SC Property Management Chapter 1 Exam Questions And Answers Latest Update
c. an agency-disclosure brochure and a designated agency consent agreement
d. an agency-disclosure brochure and a listing agreement - ✔✔✔-d. an agency-
disclosure brochure and a listing agreement
The services you must give to a customer do not include:
a. confidentiality
b. accounting for money and property received
c. providing a meaningful explanation of agency relationships
d. providing an explanation of the scope of services to be provided - ✔✔✔-a.
confidentiality
Practicing dual-agency without the full written knowledge and consent of all parties
is:
a. acceptable if both parties verbally agree to the reduction in service
b. acceptable if the BIC creates a form stating the intent to reduce services and
both parties sign the in-house form
c. acceptable if the office policy is dual or designated agency
d. a violation of license law - ✔✔✔-d. a violation of license law
It is an acceptable practice for a licensee to:
a. make direct contact with the buyer client of another licensee as long as he/she
does so with the knowledge and permission of the buyer's agent
b. talk someone into breaking a representation agreement with another as long as
the licensee discloses why he/she thinks it is in the best interest of the client
c. advise a tenant to break a lease in order to sell him/her a property as long as the
licensee discloses why he/she thinks it is in the tenant's best interest
d. none of the above - ✔✔✔-a. make direct contact with the buyer client of another
licensee as long as he/she does so with the knowledge and permission of the
buyer's agent
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