SC Real Estate - State Portion Exam
Questions and Answers 100% Correct
Answers Already Graded A+
QUESTIONS AND ANSWERS
Associated Licensee. ANSWER -Licensee who is affiliated with a BIC
Broker. ANSWER -For a fee, salary, commission
Negotiates, Auctioins, Solicits a referral, Offers advisory services, Offers to act as an agent,
Advertises
Broker-in-Charge. ANSWER -Has responsibility over actions of all associated licensees and
real estate trust accounts
Client. ANSWER -Person with whom a licensee has an established agency relationship
Customer. ANSWER -Person with whom licensee has not established an agency
relationship
Office. ANSWER -The principal office location where a BIC or PMIC is licensed to conduct
real estate business
Branch Office. ANSWER -A secondary place of business apart from the principal or main
office from which real estate business is conducted. A branch office usually must be run by a
licensed real estate broker working on behalf of a the broker.
Real Estate License Law. ANSWER -State law enacted to protect the public from fraud,
dishonesty and incompetence in the purchase and sale of real estate.
Rules and Regulations. ANSWER -Real estate licensing authority orders that governs
licensees activities; they usually have the same force and effect as statutory law.
, Police Power General. ANSWER -The government's right to impose laws, statutes and
ordinances, including zoning ordinances and building codes, to protect the public health,
safety and welfare.
Enabling Acts. ANSWER -State legislation that confers zoning powers on municipal
governments as well as other regulations
Stigmatized Property. ANSWER -A property that has acquired an undesirable reputation
due to an event that occurred on or near it, such as violent crime, gang-related activity,
illness or personal tragedy. Some states restrict the disclosure of information about
stigmatized properties.
Stigma/Phsychological Defects. ANSWER -(1) Virus
(2) Death
(3) Sex Offenders
(4) Off-site hazards
Licensee not required to disclose, but if asked, answer honestly
Puffing. ANSWER -Exaggerated or superlative comments or opinions.
Types of Damages. ANSWER -Compensatory- actual damages
Punitive- punishment
Liquidated- dollar amount
Exemptions from License to sell Real Estate. ANSWER -Owner
Government Employees
Attorneys
Foresters
Trustees/receivers
State Legislatures. ANSWER -Body that enacts RE Laws
Questions and Answers 100% Correct
Answers Already Graded A+
QUESTIONS AND ANSWERS
Associated Licensee. ANSWER -Licensee who is affiliated with a BIC
Broker. ANSWER -For a fee, salary, commission
Negotiates, Auctioins, Solicits a referral, Offers advisory services, Offers to act as an agent,
Advertises
Broker-in-Charge. ANSWER -Has responsibility over actions of all associated licensees and
real estate trust accounts
Client. ANSWER -Person with whom a licensee has an established agency relationship
Customer. ANSWER -Person with whom licensee has not established an agency
relationship
Office. ANSWER -The principal office location where a BIC or PMIC is licensed to conduct
real estate business
Branch Office. ANSWER -A secondary place of business apart from the principal or main
office from which real estate business is conducted. A branch office usually must be run by a
licensed real estate broker working on behalf of a the broker.
Real Estate License Law. ANSWER -State law enacted to protect the public from fraud,
dishonesty and incompetence in the purchase and sale of real estate.
Rules and Regulations. ANSWER -Real estate licensing authority orders that governs
licensees activities; they usually have the same force and effect as statutory law.
, Police Power General. ANSWER -The government's right to impose laws, statutes and
ordinances, including zoning ordinances and building codes, to protect the public health,
safety and welfare.
Enabling Acts. ANSWER -State legislation that confers zoning powers on municipal
governments as well as other regulations
Stigmatized Property. ANSWER -A property that has acquired an undesirable reputation
due to an event that occurred on or near it, such as violent crime, gang-related activity,
illness or personal tragedy. Some states restrict the disclosure of information about
stigmatized properties.
Stigma/Phsychological Defects. ANSWER -(1) Virus
(2) Death
(3) Sex Offenders
(4) Off-site hazards
Licensee not required to disclose, but if asked, answer honestly
Puffing. ANSWER -Exaggerated or superlative comments or opinions.
Types of Damages. ANSWER -Compensatory- actual damages
Punitive- punishment
Liquidated- dollar amount
Exemptions from License to sell Real Estate. ANSWER -Owner
Government Employees
Attorneys
Foresters
Trustees/receivers
State Legislatures. ANSWER -Body that enacts RE Laws
