SOUTH CAROLINA REAL ESTATE EXAM PRACTICE QUESTIONS
WITH 100% VERIFIED ANSWERS GRADED A+
The amount per $1,000 used to calculate taxes on property is the - -milliage rate
Page | 1
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
, Salespersons must present any client monies received, to their broker, within - -1
business day
Page | 2 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
WITH 100% VERIFIED ANSWERS GRADED A+
The amount per $1,000 used to calculate taxes on property is the - -milliage rate
Page | 1
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
, Salespersons must present any client monies received, to their broker, within - -1
business day
Page | 2 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
