SC Real Estate - State Portion Exam Prep
Questions and Answers 100% Correct
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QUESTIONS AND ANSWERS
In South Carolina, the law has set and assessment rate if:
What is the rate for residential owner occupied property?. ANSWER -4%
A Person Who is over 65 years of Age may get a break on his/her Ad Valorem Tax. What
is the Nature of this special treatment?. ANSWER -Homestead Exemption is -$50K of the
Appraised Value
The assessed value is $3000 and the tax is based on 200 mills. How much is the Tax?.
ANSWER -$600 ( 3000 x .200 = $600)
A requirement for non- residents to be eligible to receive a South Carolina License is that
they:. ANSWER -Must be employed by a broker-in-charge licensed in SC
When must a Licensee take the post license sales course?. ANSWER -Before receiving a
salesman license ( 60 hour unit 1 course and 30 hour Unit 2)
An Unlicensed salesman negotiated the sale of real estate. The commission is payable to:.
ANSWER -No One- any person must be licensed to negotiate a sale of real estate for
compensation
Before taking the South Carolina real estate sales examination, every applicant shall furnish
evidence satisfactory to the Real Estate Commission of successful completion of sixty class
room hours.. ANSWER -Requirements to be licensed
When should a buyers earnest money personal check be deposited in the broker trust
account?. ANSWER -Within 48 hours of acceptance of an offer to purchase
, The purpose of the real estate license law is to :. ANSWER -Protect the public when
involved in real estate transactions
Real Estate license law is an example of. ANSWER -Police Power - Protects citizens with
the requirement of licensing
A builder who desires to employ a sales person to sell houses for him on a commission basis
must. ANSWER -Obtain a Broker-in-Charge License
In order for a broker to open his own company in South Carolina, he must:. ANSWER -
Have a physical location in South Carolina
The authorities and the responsibilities of the LLR Real Estate Commission fall under:.
ANSWER -Police Power
What is not *, among the powers of the South Carolina Real Estate Commission. ANSWER
-Ability to arbitrate commission disputes between licensees
There are _____ members in the Real Estate Commission, each with a term of _____ years.
ANSWER -9 Member / 4 year term limits
Before any timeshare units can be marketed and sold, all plan regarding the time share
projects must be approved by:. ANSWER -The South Carolina Real Estate Commission
Upon revocation or suspension order by the South Carolina Real Estate Commission, the
broker :. ANSWER -May appeal the decision to an administrative law judge
The requirement for a non-resident to be eligible to receive a South Carolina license is that
he/she. ANSWER -Be licensed with a broker-in-charge who has a South Carolina license
When a dispute arises between a buyer and a seller concerning the disposition of the earnest
money, the broker must:. ANSWER -hold it in his trust account until such time as it's
disposition is determined
Questions and Answers 100% Correct
Answers Already Graded A+
QUESTIONS AND ANSWERS
In South Carolina, the law has set and assessment rate if:
What is the rate for residential owner occupied property?. ANSWER -4%
A Person Who is over 65 years of Age may get a break on his/her Ad Valorem Tax. What
is the Nature of this special treatment?. ANSWER -Homestead Exemption is -$50K of the
Appraised Value
The assessed value is $3000 and the tax is based on 200 mills. How much is the Tax?.
ANSWER -$600 ( 3000 x .200 = $600)
A requirement for non- residents to be eligible to receive a South Carolina License is that
they:. ANSWER -Must be employed by a broker-in-charge licensed in SC
When must a Licensee take the post license sales course?. ANSWER -Before receiving a
salesman license ( 60 hour unit 1 course and 30 hour Unit 2)
An Unlicensed salesman negotiated the sale of real estate. The commission is payable to:.
ANSWER -No One- any person must be licensed to negotiate a sale of real estate for
compensation
Before taking the South Carolina real estate sales examination, every applicant shall furnish
evidence satisfactory to the Real Estate Commission of successful completion of sixty class
room hours.. ANSWER -Requirements to be licensed
When should a buyers earnest money personal check be deposited in the broker trust
account?. ANSWER -Within 48 hours of acceptance of an offer to purchase
, The purpose of the real estate license law is to :. ANSWER -Protect the public when
involved in real estate transactions
Real Estate license law is an example of. ANSWER -Police Power - Protects citizens with
the requirement of licensing
A builder who desires to employ a sales person to sell houses for him on a commission basis
must. ANSWER -Obtain a Broker-in-Charge License
In order for a broker to open his own company in South Carolina, he must:. ANSWER -
Have a physical location in South Carolina
The authorities and the responsibilities of the LLR Real Estate Commission fall under:.
ANSWER -Police Power
What is not *, among the powers of the South Carolina Real Estate Commission. ANSWER
-Ability to arbitrate commission disputes between licensees
There are _____ members in the Real Estate Commission, each with a term of _____ years.
ANSWER -9 Member / 4 year term limits
Before any timeshare units can be marketed and sold, all plan regarding the time share
projects must be approved by:. ANSWER -The South Carolina Real Estate Commission
Upon revocation or suspension order by the South Carolina Real Estate Commission, the
broker :. ANSWER -May appeal the decision to an administrative law judge
The requirement for a non-resident to be eligible to receive a South Carolina license is that
he/she. ANSWER -Be licensed with a broker-in-charge who has a South Carolina license
When a dispute arises between a buyer and a seller concerning the disposition of the earnest
money, the broker must:. ANSWER -hold it in his trust account until such time as it's
disposition is determined
