SOUTH CAROLINA REAL ESTATE
SOUTH CAROLINA REAL ESTATE EXAM
PRACTICE QUESTIONS AND ANSWERS
The amount per $1,000 used to calculate taxes on property is the - milliage rate
The common name of the hazardous-waste cleanup fund established by the
Comprehensive Environmental Response, Compensation and Liability Act
(CERCLA) is - superfund
May eviction and foreclosure notices be delivered electronically in South
Carolina? - NO
How many years of sales experience must a salesperson have in order to qualify to
take the brokers exam? - 3
A development map that shows the location and sizes of lots and streets is known
as a - grid plan
he Residential Property Condition Disclosure form applies to transactions that
involve no more than, how many units? - 4
How many years must a full copy of a transaction file be held by a broker after
closing? - 5
Who is responsible for maintaining a habitable property and for complying with
local housing and building codes in a rental situation? - Lessor
SOUTH CAROLINA REAL ESTATE
, SOUTH CAROLINA REAL ESTATE
Salespersons must present any client monies received, to their broker, within - 1
business day
The net spendable income generated by an investment is referred to as - Cash flow
How long must a Broker in Charge or Property Manager in Charge retain their
Trust Fund Account records? - 5 years
A recipient of a high cost loan on a property in South Carolina must - receive
counseling on the advisability of the loan
Mortgage "discount" points only apply if which of the following conditions are
met? - 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? - 30 days
Is SC a community property state? - No
Lenders will always order this before making a loan. - an appraisal
Betty Broker presents an offer to her seller, but the terms are not acceptable to the
seller. What form must Betty complete? - an offer rejection form
Mortgage loans with fluctuating rates are termed as - ARM
SOUTH CAROLINA REAL ESTATE
SOUTH CAROLINA REAL ESTATE EXAM
PRACTICE QUESTIONS AND ANSWERS
The amount per $1,000 used to calculate taxes on property is the - milliage rate
The common name of the hazardous-waste cleanup fund established by the
Comprehensive Environmental Response, Compensation and Liability Act
(CERCLA) is - superfund
May eviction and foreclosure notices be delivered electronically in South
Carolina? - NO
How many years of sales experience must a salesperson have in order to qualify to
take the brokers exam? - 3
A development map that shows the location and sizes of lots and streets is known
as a - grid plan
he Residential Property Condition Disclosure form applies to transactions that
involve no more than, how many units? - 4
How many years must a full copy of a transaction file be held by a broker after
closing? - 5
Who is responsible for maintaining a habitable property and for complying with
local housing and building codes in a rental situation? - Lessor
SOUTH CAROLINA REAL ESTATE
, SOUTH CAROLINA REAL ESTATE
Salespersons must present any client monies received, to their broker, within - 1
business day
The net spendable income generated by an investment is referred to as - Cash flow
How long must a Broker in Charge or Property Manager in Charge retain their
Trust Fund Account records? - 5 years
A recipient of a high cost loan on a property in South Carolina must - receive
counseling on the advisability of the loan
Mortgage "discount" points only apply if which of the following conditions are
met? - 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? - 30 days
Is SC a community property state? - No
Lenders will always order this before making a loan. - an appraisal
Betty Broker presents an offer to her seller, but the terms are not acceptable to the
seller. What form must Betty complete? - an offer rejection form
Mortgage loans with fluctuating rates are termed as - ARM
SOUTH CAROLINA REAL ESTATE
