In South Carolina, if a landlord wants to terminate a month-to-month tenancy, how much
notice must the tenant receive?
A) 7 days
B) 30 days
C) 60 days
D) No notice
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, B) 30 days (NOTE: A week-to-week tenancy would only require a seven day
notice; the notice must be equal to the periodic rental)
In South Carolina, an aggrieved party could report evidence of racial discrimination
concerning Fair Housing to _____.
A) the US attorney
B) HUD
C) the South Carolina Human Affairs Commission
D) All of the above
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D) All of the above [NOTE: The South Carolina Human Affairs Commission is
most common, though. Complaint must be filed within 180 days (6 months),
whereas HUD gives you 12 months to file]
All exclusive right-to-sell listings _____.
A) must have a dollar amount for commission
B) require payment of a commission to the agent if the property is sold
C) must have a legal description of the property
D) must have a "time is of the essence" clause
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B) require payment of a commission to the agent if the property is sold
,In South Carolina, a broker-in-charge _____.
A) must have at least 10% ownership interest in the company
B) must have been licensed as a broker for a minimum of five years
C) may be a broker-in-charge of more than one office with commission approval
D) may be broker-in-charge of two offices within a 50-mile radius without commission
approval
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C) may be a broker-in-charge of more than one office with commission
approval
Twenty years ago, a homeowner obtained a 30-year mortgage loan to purchase a home.
The interest rate on the loan was 9.275 percent. Today, the homeowner is prepared to
pay off the loan early. Based on these facts, which of the following statement is true in
South Carolina?
A) The homeowner's lender is entitled by statute to charge the homeowner a
prepayment penalty equal to one year's interest on the current balance of the loan
B) The homeowner's lender is permitted by South Carolina statute to charge the
homeowner a prepayment penalty on loans of more than $150,000
C) South Carolina does not take an official statutory position on the issue of prepayment
penalties
D) If the homeowner's loan was greater than $100,000, the lender may charge a
prepayment penalty under South Carolina law
Give this one a try later!
, B) The homeowner's lender is permitted by South Carolina statute to charge
the homeowner a prepayment penalty on loans of more than $150,000
(NOTE: When the buyer was obtaining their loan, they would have had to
agree to this prepayment penalty in the original note)
In South Carolina, licenses are renewed _____.
A) annually, in the month issued
B) every two years in the month of the licensee's birthday
C) on June 30 of each even-numbered year
D) biennially, on June 30
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D) biennially, on June 30
Broker Sleazy Ed purchased his own listing because he knew of a purchaser who would
pay more than the listing price. Which of the following statements is true of the broker?
A) He may never purchase one of his own listings
B) He has done nothing wrong if he did not misrepresent the property's value
C) He acted properly if he disclosed that the offer was his
D) He is liable to the owner for the profit made
Give this one a try later!
D) He is liable to the owner for the profit made
notice must the tenant receive?
A) 7 days
B) 30 days
C) 60 days
D) No notice
Give this one a try later!
, B) 30 days (NOTE: A week-to-week tenancy would only require a seven day
notice; the notice must be equal to the periodic rental)
In South Carolina, an aggrieved party could report evidence of racial discrimination
concerning Fair Housing to _____.
A) the US attorney
B) HUD
C) the South Carolina Human Affairs Commission
D) All of the above
Give this one a try later!
D) All of the above [NOTE: The South Carolina Human Affairs Commission is
most common, though. Complaint must be filed within 180 days (6 months),
whereas HUD gives you 12 months to file]
All exclusive right-to-sell listings _____.
A) must have a dollar amount for commission
B) require payment of a commission to the agent if the property is sold
C) must have a legal description of the property
D) must have a "time is of the essence" clause
Give this one a try later!
B) require payment of a commission to the agent if the property is sold
,In South Carolina, a broker-in-charge _____.
A) must have at least 10% ownership interest in the company
B) must have been licensed as a broker for a minimum of five years
C) may be a broker-in-charge of more than one office with commission approval
D) may be broker-in-charge of two offices within a 50-mile radius without commission
approval
Give this one a try later!
C) may be a broker-in-charge of more than one office with commission
approval
Twenty years ago, a homeowner obtained a 30-year mortgage loan to purchase a home.
The interest rate on the loan was 9.275 percent. Today, the homeowner is prepared to
pay off the loan early. Based on these facts, which of the following statement is true in
South Carolina?
A) The homeowner's lender is entitled by statute to charge the homeowner a
prepayment penalty equal to one year's interest on the current balance of the loan
B) The homeowner's lender is permitted by South Carolina statute to charge the
homeowner a prepayment penalty on loans of more than $150,000
C) South Carolina does not take an official statutory position on the issue of prepayment
penalties
D) If the homeowner's loan was greater than $100,000, the lender may charge a
prepayment penalty under South Carolina law
Give this one a try later!
, B) The homeowner's lender is permitted by South Carolina statute to charge
the homeowner a prepayment penalty on loans of more than $150,000
(NOTE: When the buyer was obtaining their loan, they would have had to
agree to this prepayment penalty in the original note)
In South Carolina, licenses are renewed _____.
A) annually, in the month issued
B) every two years in the month of the licensee's birthday
C) on June 30 of each even-numbered year
D) biennially, on June 30
Give this one a try later!
D) biennially, on June 30
Broker Sleazy Ed purchased his own listing because he knew of a purchaser who would
pay more than the listing price. Which of the following statements is true of the broker?
A) He may never purchase one of his own listings
B) He has done nothing wrong if he did not misrepresent the property's value
C) He acted properly if he disclosed that the offer was his
D) He is liable to the owner for the profit made
Give this one a try later!
D) He is liable to the owner for the profit made
