REAL ESTATE U SOUTH CAROLINA FINAL EXAM QUESTIONS
WITH VERIFIED CORRECT ANSWERS | LATEST UPDATE
2026/2027 | 100% PASS| RATED A+
What is the name of the governing body responsible for enforcing licensing regulations? -
Answer -Department of Labor and Industry.
When qualifying a buyer, the lender will take into account which of the following expenses for
the buyer? - Answer -All of the answer choices provided are correct
Residential properties are typically valued using the...? - Answer -sales comparison approach
Obtaining a license by fraud, deceit, dishonesty, or substantial misrepresentation can result in
significant disciplinary action. What else can it include? - Answer -A revocation of their license.
When a municipality issues a tax bill what do they use to establish the base value? - Answer -
They base the value on the best use of the property
What can the borrower purchase upfront to reduce the interest rate on their mortgage? -
Answer -Discount points
1|Page
, If the annual property taxes were paid prior to the closing date, the buyer will receive a
..............at closing. - Answer -debit
What does Article 3 of the Landlord and Tenant Act say about landlords making deductions from
a tenant's security deposit? - Answer -The Act states that landlords can deduct damages and
unpaid rent from the deposit, that any deductions must be itemized, and documentation must
be given to the tenant.
Who has the duty of good faith and compensation to the agent? - Answer -The principal.
If the seller already paid the annual property taxes prior to closing, the seller will receive a
............at closing. - Answer -credit
In some states, a single person is allowed to serve the best interests of the buyer and the seller
at the same time. What is the name of this arrangement? - Answer -Dual agency
If you're planning to join a professional organization, how should you treat its Code of Ethics? -
Answer -Even though you are not bound to follow the association's code, you should make
every effort to comply.
The final step in reaching a market value after the appraisal process is known as...? - Answer -
reconciliation
2|Page
WITH VERIFIED CORRECT ANSWERS | LATEST UPDATE
2026/2027 | 100% PASS| RATED A+
What is the name of the governing body responsible for enforcing licensing regulations? -
Answer -Department of Labor and Industry.
When qualifying a buyer, the lender will take into account which of the following expenses for
the buyer? - Answer -All of the answer choices provided are correct
Residential properties are typically valued using the...? - Answer -sales comparison approach
Obtaining a license by fraud, deceit, dishonesty, or substantial misrepresentation can result in
significant disciplinary action. What else can it include? - Answer -A revocation of their license.
When a municipality issues a tax bill what do they use to establish the base value? - Answer -
They base the value on the best use of the property
What can the borrower purchase upfront to reduce the interest rate on their mortgage? -
Answer -Discount points
1|Page
, If the annual property taxes were paid prior to the closing date, the buyer will receive a
..............at closing. - Answer -debit
What does Article 3 of the Landlord and Tenant Act say about landlords making deductions from
a tenant's security deposit? - Answer -The Act states that landlords can deduct damages and
unpaid rent from the deposit, that any deductions must be itemized, and documentation must
be given to the tenant.
Who has the duty of good faith and compensation to the agent? - Answer -The principal.
If the seller already paid the annual property taxes prior to closing, the seller will receive a
............at closing. - Answer -credit
In some states, a single person is allowed to serve the best interests of the buyer and the seller
at the same time. What is the name of this arrangement? - Answer -Dual agency
If you're planning to join a professional organization, how should you treat its Code of Ethics? -
Answer -Even though you are not bound to follow the association's code, you should make
every effort to comply.
The final step in reaching a market value after the appraisal process is known as...? - Answer -
reconciliation
2|Page
