SOUTH CAROLINA REAL ESTATE EXAM REVIEW QUESTIONS WITH 100% CORRECT ANSWERS.

The amount per $1,000 used to calculate taxes on property is the - correct answer️️milliage rate The common name of the hazardous-waste cleanup fund established by the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA) is - correct answer️️superfund May eviction and foreclosure notices be delivered electronically in South Carolina? - correct answer️️NO How many years of sales experience must a salesperson have in order to qualify to take the brokers exam? - correct answer️️3 A development map that shows the location and sizes of lots and streets is known as a - correct answer️️grid plan he Residential Property Condition Disclosure form applies to transactions that involve no more than, how many units? - correct answer️️4 How many years must a full copy of a transaction file be held by a broker after closing? - correct answer️️5 Who is responsible for maintaining a habitable property and for complying with local housing and building codes in a rental situation? - correct answer️️Lessor Salespersons must present any client monies received, to their broker, within - correct answer️️1 business day The net spendable income generated by an investment is referred to as - correct answer️️Cash flow How long must a Broker in Charge or Property Manager in Charge retain their Trust Fund Account records? - correct answer️️5 years A recipient of a high cost loan on a property in South Carolina must - correct answer️️receive counseling on the advisability of the loan Mortgage "discount" points only apply if which of the following conditions are met? - correct answer️️The 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? - correct answer️️30 days Is SC a community property state? - correct answer️️No Lenders will always order this before making a loan. - correct answer️️an appraisal Betty Broker presents an offer to her seller, but the terms are not acceptable to the seller. What form must Betty complete? - correct answer️️an offer rejection form Mortgage loans with fluctuating rates are termed as - correct answer️️ARM Does South Carolina have homestead laws? - correct answer️️YES A buyer is viewing a home and asks the agent if any sex offenders live in the immediate area. How should the agent respond? - correct answer️️educate the buyer on doing a search for sex offenders in the area An easement by prescription may establish: - correct answer️️use 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? - correct answer️️4 Which laws are intended to protect consumers from excessive interest rates on loans? - correct answer️️usury laws When purchasing a Vacation Time Sharing Plan, the consumer may cancel the contract up to