SOUTH CAROLINA REAL ESTATE EXAM
PRACTICE QUESTIONS AND SOLUTIONS
The amount per $1,000 used to calculate taxes on property is the - answersmilliage rate
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The common name of the hazardous-waste cleanup fund established by the Comprehensive
vc vc vc vc vc vc vc vc vc vc vc
Environmental Response, Compensation and Liability Act (CERCLA) is - answerssuperfund
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May eviction and foreclosure notices be delivered electronically in South Carolina? -
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answersNO
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How many years of sales experience must a salesperson have in order to qualify to take the
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brokers exam? - answers3
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A development map that shows the location and sizes of lots and streets is known as a -
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answersgrid plan
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he Residential Property Condition Disclosure form applies to transactions that involve no more
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than, how many units? - answers4
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How many years must a full copy of a transaction file be held by a broker after closing? -
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answers5
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Who is responsible for maintaining a habitable property and for complying with local housing
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and building codes in a rental situation? - answersLessor
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Salespersons must present any client monies received, to their broker, within - answers1 vc vc vc vc vc vc vc vc vc vc vc vc
business day
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The net spendable income generated by an investment is referred to as - answersCash flow
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How long must a Broker in Charge or Property Manager in Charge retain their Trust Fund
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Account records? - answers5 years
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A recipient of a high cost loan on a property in South Carolina must - answersreceive counseling
vc vc vc vc vc vc vc vc vc vc vc vc vc vc vc vc
on the advisability of the loan
vc vc vc vc vc vc
Mortgage "discount" points only apply if which of the following conditions are met? - answersThe
vc vc vc vc vc vc vc vc vc vc vc vc vc vc
interest rate on the mortgage loan has been lowered by 1% for each point charged.
vc vc vc vc vc vc vc vc vc vc vc vc vc vc vc
How long does a South Carolina landlord have to return a security deposit to a tenant at the
vc vc vc vc vc vc vc vc vc vc vc vc vc vc vc vc vc
conslusion of a lease? - answers30 days
vc vc vc vc vc vc vc
Is SC a community property state? - answersNo
vc vc vc vc vc vc vc
Lenders will always order this before making a loan. - answersan appraisal
vc vc vc vc vc vc vc vc vc vc vc
Betty Broker presents an offer to her seller, but the terms are not acceptable to the seller. What
vc vc vc vc vc vc vc vc vc vc vc vc vc vc vc vc vc
form must Betty complete? - answersan offer rejection form
vc vc vc vc vc vc vc vc vc
, Mortgage loans with fluctuating rates are termed as - answersARM vc vc vc vc vc vc vc vc vc
Does South Carolina have homestead laws? - answersYES
vc vc vc vc vc vc vc
A buyer is viewing a home and asks the agent if any sex offenders live in the immediate area.
vc vc vc vc vc vc vc vc vc vc vc vc vc vc vc vc vc vc
How should the agent respond? - answerseducate the buyer on doing a search for sex
vc vc vc vc vc vc vc vc vc vc vc vc vc vc vc
offenders in the area
vc vc vc vc
An easement by prescription may establish: - answersuse of property
vc vc vc vc vc vc vc vc vc
Disabled people are protected under Fair Housing law when renting in multi-family units. How
vc vc vc vc vc vc vc vc vc vc vc vc vc
many units must be in the construction, in order for the law to apply? - answers4
vc vc vc vc vc vc vc vc vc vc vc vc vc vc vc vc
Which laws are intended to protect consumers from excessive interest rates on loans? -
vc vc vc vc vc vc vc vc vc vc vc vc vc
answersusury laws
vc vc
When purchasing a Vacation Time Sharing Plan, the consumer may cancel the contract up to
vc vc vc vc vc vc vc vc vc vc vc vc vc vc
how may days after signing? - answers5
vc vc vc vc vc vc vc
Standing trees would be considered: - answersreal property vc vc vc vc vc vc vc
A warrant of ejectment may be issued, upon landlords application, after how much time has
vc vc vc vc vc vc vc vc vc vc vc vc vc vc
passed with the tenant being in violation of court orders? - answers5 days
vc vc vc vc vc vc vc vc vc vc vc vc vc
"Flipping" a consumer home loan means the making of a consumer home loan that refinances vc vc vc vc vc vc vc vc vc vc vc vc vc vc
within how long an existing consumer home loan of the borrower when the new loan does not
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have a reasonable, tangible net benefit to the borrower? - answers42 months
vc vc vc vc vc vc vc vc vc vc vc vc
After getting the real estate salesperson license, how often must you take Continuing Education
vc vc vc vc vc vc vc vc vc vc vc vc vc
classes? - answers10 hrs every 2 years
vc vc vc vc vc vc vc
The Truth in Lending Act (TILA) is implemented by - answersregulation Z
vc vc vc vc vc vc vc vc vc vc vc
Which of the following isn't part of a deed? - answersnovation
vc vc vc vc vc vc vc vc vc vc
The fund set aside for replacement of common property in a condominium, PUD or cooperative
vc vc vc vc vc vc vc vc vc vc vc vc vc vc
project is called a: - answersReplacement reserve fund
vc vc vc vc vc vc vc vc
PITI = - answersPrinciple, Interest, Taxes, and Insurance
vc vc vc vc vc vc vc
A landlord is allowed to access the premises unannounced in which they own for: - answersOnly
vc vc vc vc vc vc vc vc vc vc vc vc vc vc vc
in case of emergency
vc vc vc vc
The FHA uses what to pay lenders, within the limits, resulting from foreclosure? -
vc vc vc vc vc vc vc vc vc vc vc vc vc
answersMutual Mortgage Insurance
vc vc vc
If Jonathan lists his property with Julian, a broker in his hometown, and subsequently is killed in a
vc vc vc vc vc vc vc vc vc vc vc vc vc vc vc vc vc
tragic car accident before the listing is sold or expired, what happens with the listing? - answersit
vc vc vc vc vc vc vc vc vc vc vc vc vc vc vc vc vc
is terminated
vc vc
Homeowner's association usually enforce - answersCC&Rs vc vc vc vc vc
ARM= - answersStands for adjustable-rate mortgage and one in which the interest rate adjusts
vc vc vc vc vc vc vc vc vc vc vc vc vc
periodically based on an index
vc vc vc vc vc
PRACTICE QUESTIONS AND SOLUTIONS
The amount per $1,000 used to calculate taxes on property is the - answersmilliage rate
vc vc vc vc vc vc vc vc vc vc vc vc vc vc
The common name of the hazardous-waste cleanup fund established by the Comprehensive
vc vc vc vc vc vc vc vc vc vc vc
Environmental Response, Compensation and Liability Act (CERCLA) is - answerssuperfund
vc vc vc vc vc vc vc vc vc vc
May eviction and foreclosure notices be delivered electronically in South Carolina? -
vc vc vc vc vc vc vc vc vc vc vc
answersNO
vc
How many years of sales experience must a salesperson have in order to qualify to take the
vc vc vc vc vc vc vc vc vc vc vc vc vc vc vc vc
brokers exam? - answers3
vc vc vc vc
A development map that shows the location and sizes of lots and streets is known as a -
vc vc vc vc vc vc vc vc vc vc vc vc vc vc vc vc vc
answersgrid plan
vc vc
he Residential Property Condition Disclosure form applies to transactions that involve no more
vc vc vc vc vc vc vc vc vc vc vc vc
than, how many units? - answers4
vc vc vc vc vc vc
How many years must a full copy of a transaction file be held by a broker after closing? -
vc vc vc vc vc vc vc vc vc vc vc vc vc vc vc vc vc vc
answers5
vc
Who is responsible for maintaining a habitable property and for complying with local housing
vc vc vc vc vc vc vc vc vc vc vc vc vc
and building codes in a rental situation? - answersLessor
vc vc vc vc vc vc vc vc vc
Salespersons must present any client monies received, to their broker, within - answers1 vc vc vc vc vc vc vc vc vc vc vc vc
business day
vc vc
The net spendable income generated by an investment is referred to as - answersCash flow
vc vc vc vc vc vc vc vc vc vc vc vc vc vc
How long must a Broker in Charge or Property Manager in Charge retain their Trust Fund
vc vc vc vc vc vc vc vc vc vc vc vc vc vc vc
Account records? - answers5 years
vc vc vc vc vc
A recipient of a high cost loan on a property in South Carolina must - answersreceive counseling
vc vc vc vc vc vc vc vc vc vc vc vc vc vc vc vc
on the advisability of the loan
vc vc vc vc vc vc
Mortgage "discount" points only apply if which of the following conditions are met? - answersThe
vc vc vc vc vc vc vc vc vc vc vc vc vc vc
interest rate on the mortgage loan has been lowered by 1% for each point charged.
vc vc vc vc vc vc vc vc vc vc vc vc vc vc vc
How long does a South Carolina landlord have to return a security deposit to a tenant at the
vc vc vc vc vc vc vc vc vc vc vc vc vc vc vc vc vc
conslusion of a lease? - answers30 days
vc vc vc vc vc vc vc
Is SC a community property state? - answersNo
vc vc vc vc vc vc vc
Lenders will always order this before making a loan. - answersan appraisal
vc vc vc vc vc vc vc vc vc vc vc
Betty Broker presents an offer to her seller, but the terms are not acceptable to the seller. What
vc vc vc vc vc vc vc vc vc vc vc vc vc vc vc vc vc
form must Betty complete? - answersan offer rejection form
vc vc vc vc vc vc vc vc vc
, Mortgage loans with fluctuating rates are termed as - answersARM vc vc vc vc vc vc vc vc vc
Does South Carolina have homestead laws? - answersYES
vc vc vc vc vc vc vc
A buyer is viewing a home and asks the agent if any sex offenders live in the immediate area.
vc vc vc vc vc vc vc vc vc vc vc vc vc vc vc vc vc vc
How should the agent respond? - answerseducate the buyer on doing a search for sex
vc vc vc vc vc vc vc vc vc vc vc vc vc vc vc
offenders in the area
vc vc vc vc
An easement by prescription may establish: - answersuse of property
vc vc vc vc vc vc vc vc vc
Disabled people are protected under Fair Housing law when renting in multi-family units. How
vc vc vc vc vc vc vc vc vc vc vc vc vc
many units must be in the construction, in order for the law to apply? - answers4
vc vc vc vc vc vc vc vc vc vc vc vc vc vc vc vc
Which laws are intended to protect consumers from excessive interest rates on loans? -
vc vc vc vc vc vc vc vc vc vc vc vc vc
answersusury laws
vc vc
When purchasing a Vacation Time Sharing Plan, the consumer may cancel the contract up to
vc vc vc vc vc vc vc vc vc vc vc vc vc vc
how may days after signing? - answers5
vc vc vc vc vc vc vc
Standing trees would be considered: - answersreal property vc vc vc vc vc vc vc
A warrant of ejectment may be issued, upon landlords application, after how much time has
vc vc vc vc vc vc vc vc vc vc vc vc vc vc
passed with the tenant being in violation of court orders? - answers5 days
vc vc vc vc vc vc vc vc vc vc vc vc vc
"Flipping" a consumer home loan means the making of a consumer home loan that refinances vc vc vc vc vc vc vc vc vc vc vc vc vc vc
within how long an existing consumer home loan of the borrower when the new loan does not
vc vc vc vc vc vc vc vc vc vc vc vc vc vc vc vc vc
have a reasonable, tangible net benefit to the borrower? - answers42 months
vc vc vc vc vc vc vc vc vc vc vc vc
After getting the real estate salesperson license, how often must you take Continuing Education
vc vc vc vc vc vc vc vc vc vc vc vc vc
classes? - answers10 hrs every 2 years
vc vc vc vc vc vc vc
The Truth in Lending Act (TILA) is implemented by - answersregulation Z
vc vc vc vc vc vc vc vc vc vc vc
Which of the following isn't part of a deed? - answersnovation
vc vc vc vc vc vc vc vc vc vc
The fund set aside for replacement of common property in a condominium, PUD or cooperative
vc vc vc vc vc vc vc vc vc vc vc vc vc vc
project is called a: - answersReplacement reserve fund
vc vc vc vc vc vc vc vc
PITI = - answersPrinciple, Interest, Taxes, and Insurance
vc vc vc vc vc vc vc
A landlord is allowed to access the premises unannounced in which they own for: - answersOnly
vc vc vc vc vc vc vc vc vc vc vc vc vc vc vc
in case of emergency
vc vc vc vc
The FHA uses what to pay lenders, within the limits, resulting from foreclosure? -
vc vc vc vc vc vc vc vc vc vc vc vc vc
answersMutual Mortgage Insurance
vc vc vc
If Jonathan lists his property with Julian, a broker in his hometown, and subsequently is killed in a
vc vc vc vc vc vc vc vc vc vc vc vc vc vc vc vc vc
tragic car accident before the listing is sold or expired, what happens with the listing? - answersit
vc vc vc vc vc vc vc vc vc vc vc vc vc vc vc vc vc
is terminated
vc vc
Homeowner's association usually enforce - answersCC&Rs vc vc vc vc vc
ARM= - answersStands for adjustable-rate mortgage and one in which the interest rate adjusts
vc vc vc vc vc vc vc vc vc vc vc vc vc
periodically based on an index
vc vc vc vc vc
