South Carolina Real Estate Exam Questions
with correct answers
Mindy, |a |South |Carolina |resident, |is |buying |a |new |home. |She'll |occupy |the |home |as |her |
primary |residence. |It |has |a |fair |market |value |of |$220,000 |and |is |in |an |area |with |a |millage |rate |
of |.350. |What |can |she |expect |to |pay |in |property |taxes? |- |CORRECT |ANSWER✔✔-$3,080
**Fair |market |value |is |multiplied |by |the |assessment |ratio |to |calculate |the |property's |assessed |
value. |For |primary |residences, |this |ratio |is |4%. |This |is |then |multiplied |by |the |millage |rate |to |
determine |property |taxes |due.
Brent |wants |to |work |with |a |real |estate |broker |as |a |buyer |client. |How |can |he |do |this?
-Sign |a |buyer |representation |agreement.
-Sign |a |Disclosure |of |Real |Estate |Brokerage |Relationships.
-Sign |a |listing |agreement.
-Sign |a |transaction |brokerage |agreement. |- |CORRECT |ANSWER✔✔-Sign |a |buyer |representation
|agreement.
**To |become |a |buyer |client, |Brent |must |sign |the |appropriate |agency |agreement |with |the |
broker. |Only |the |buyer |representation |agreement |establishes |an |agent-buyer |client |
relationship.
In |addition |to |providing |proof |of |character, |an |applicant |seeking |a |new |South |Carolina |real |
estate |license |after |their |original |was |revoked |must |provide |what |other |proof?
Education |and |examination
Education |and |income
Examination |and |income
Experience |and |education |- |CORRECT |ANSWER✔✔-Education |and |examination
, South |Carolina |broker |Craig |Jenkins |is |selling |his |own |home. |He |discloses |this |fact |in |his |
marketing |materials |for |the |house, |and |at |his |first |substantive |contact |with |interested |buyers. |
Should |Craig |disclose |this |fact |anywhere |else?
-No. |Craig |has |fulfilled |his |duties |of |disclosure.
-Yes. |He |must |complete |a |Licensee-Seller |Disclosure |form, |and |have |any |prospective |buyers |
sign |it |before |submitting |an |offer.
-Yes. |He |must |complete |the |Licensee-Seller |Disclosure |form |(and |have |the |seller |sign |it) |and |
disclose |it |on |page |one |of |any |purchase |offers |he |receives.
-Yes. |He |must |disclose |this |on |page |one |of |any |purchase |offers |he |receives. |- |CORRECT |
ANSWER✔✔-Yes. |He |must |disclose |this |on |page |one |of |any |purchase |offers |he |receives.
**This |disclosure |must |be |written |in |bold, |underlined, |capital |letters |on |the |first |page |of |all |
real |estate |purchase |contracts |Craig |uses |in |personal |transactions.
Carlos |wants |a |real |estate |broker |to |help |him |sell |his |lake |house. |He |expects |top-notch, |full |
services. |How |can |he |get |this?
-Sign |a |buyer |representation |agreement.
-Sign |a |Disclosure |of |Real |Estate |Brokerage |Relationships.
-Sign |a |listing |agreement.
-Sign |a |transaction |brokerage |agreement. |- |CORRECT |ANSWER✔✔-Sign |a |listing |agreement.
**To |become |a |seller |client, |Carlos |must |sign |the |appropriate |agency |agreement |with |the |
broker. |Only |a |listing |agreement |establishes |an |agent-seller |client |relationship.
Raquel's |license |was |revoked |by |the |South |Carolina |Real |Estate |Commission |three |years |ago. |
She'd |like |to |apply |for |a |new |license. |What |does |she |need |to |do?
-Anyone |who |had |a |real |estate |license |revoked |can |never |apply |for |a |new |license.
-Nothing, |after |the |revocation |period |has |ended |her |license |will |be |automatically |reinstated, |
assuming |she's |kept |up |with |renewal |requirements |over |the |last |three |years.
-She |must |provide |proof |that |she's |reliable, |has |a |good |reputation |for |honest |and |fair |conduct,
|has |completed |all |education |requirements |within |the |last |five |years, |and |has |passed |all |
required |exams.
with correct answers
Mindy, |a |South |Carolina |resident, |is |buying |a |new |home. |She'll |occupy |the |home |as |her |
primary |residence. |It |has |a |fair |market |value |of |$220,000 |and |is |in |an |area |with |a |millage |rate |
of |.350. |What |can |she |expect |to |pay |in |property |taxes? |- |CORRECT |ANSWER✔✔-$3,080
**Fair |market |value |is |multiplied |by |the |assessment |ratio |to |calculate |the |property's |assessed |
value. |For |primary |residences, |this |ratio |is |4%. |This |is |then |multiplied |by |the |millage |rate |to |
determine |property |taxes |due.
Brent |wants |to |work |with |a |real |estate |broker |as |a |buyer |client. |How |can |he |do |this?
-Sign |a |buyer |representation |agreement.
-Sign |a |Disclosure |of |Real |Estate |Brokerage |Relationships.
-Sign |a |listing |agreement.
-Sign |a |transaction |brokerage |agreement. |- |CORRECT |ANSWER✔✔-Sign |a |buyer |representation
|agreement.
**To |become |a |buyer |client, |Brent |must |sign |the |appropriate |agency |agreement |with |the |
broker. |Only |the |buyer |representation |agreement |establishes |an |agent-buyer |client |
relationship.
In |addition |to |providing |proof |of |character, |an |applicant |seeking |a |new |South |Carolina |real |
estate |license |after |their |original |was |revoked |must |provide |what |other |proof?
Education |and |examination
Education |and |income
Examination |and |income
Experience |and |education |- |CORRECT |ANSWER✔✔-Education |and |examination
, South |Carolina |broker |Craig |Jenkins |is |selling |his |own |home. |He |discloses |this |fact |in |his |
marketing |materials |for |the |house, |and |at |his |first |substantive |contact |with |interested |buyers. |
Should |Craig |disclose |this |fact |anywhere |else?
-No. |Craig |has |fulfilled |his |duties |of |disclosure.
-Yes. |He |must |complete |a |Licensee-Seller |Disclosure |form, |and |have |any |prospective |buyers |
sign |it |before |submitting |an |offer.
-Yes. |He |must |complete |the |Licensee-Seller |Disclosure |form |(and |have |the |seller |sign |it) |and |
disclose |it |on |page |one |of |any |purchase |offers |he |receives.
-Yes. |He |must |disclose |this |on |page |one |of |any |purchase |offers |he |receives. |- |CORRECT |
ANSWER✔✔-Yes. |He |must |disclose |this |on |page |one |of |any |purchase |offers |he |receives.
**This |disclosure |must |be |written |in |bold, |underlined, |capital |letters |on |the |first |page |of |all |
real |estate |purchase |contracts |Craig |uses |in |personal |transactions.
Carlos |wants |a |real |estate |broker |to |help |him |sell |his |lake |house. |He |expects |top-notch, |full |
services. |How |can |he |get |this?
-Sign |a |buyer |representation |agreement.
-Sign |a |Disclosure |of |Real |Estate |Brokerage |Relationships.
-Sign |a |listing |agreement.
-Sign |a |transaction |brokerage |agreement. |- |CORRECT |ANSWER✔✔-Sign |a |listing |agreement.
**To |become |a |seller |client, |Carlos |must |sign |the |appropriate |agency |agreement |with |the |
broker. |Only |a |listing |agreement |establishes |an |agent-seller |client |relationship.
Raquel's |license |was |revoked |by |the |South |Carolina |Real |Estate |Commission |three |years |ago. |
She'd |like |to |apply |for |a |new |license. |What |does |she |need |to |do?
-Anyone |who |had |a |real |estate |license |revoked |can |never |apply |for |a |new |license.
-Nothing, |after |the |revocation |period |has |ended |her |license |will |be |automatically |reinstated, |
assuming |she's |kept |up |with |renewal |requirements |over |the |last |three |years.
-She |must |provide |proof |that |she's |reliable, |has |a |good |reputation |for |honest |and |fair |conduct,
|has |completed |all |education |requirements |within |the |last |five |years, |and |has |passed |all |
required |exams.
