South Carolina Real Estate Exam Practice Questions And Solutions

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
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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
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on the advisability of the loan
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Mortgage "discount" points only apply if which of the following conditions are met? - answersThe
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interest rate on the mortgage loan has been lowered by 1% for each point charged.
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How long does a South Carolina landlord have to return a security deposit to a tenant at the
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conslusion of a lease? - answers30 days
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Is SC a community property state? - answersNo
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Lenders will always order this before making a loan. - answersan appraisal
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Betty Broker presents an offer to her seller, but the terms are not acceptable to the seller. What
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form must Betty complete? - answersan offer rejection form
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, 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
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A buyer is viewing a home and asks the agent if any sex offenders live in the immediate area.
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How should the agent respond? - answerseducate the buyer on doing a search for sex
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offenders in the area
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An easement by prescription may establish: - answersuse of property
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Disabled people are protected under Fair Housing law when renting in multi-family units. How
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many units must be in the construction, in order for the law to apply? - answers4
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Which laws are intended to protect consumers from excessive interest rates on loans? -
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answersusury laws
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When purchasing a Vacation Time Sharing Plan, the consumer may cancel the contract up to
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how may days after signing? - answers5
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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
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passed with the tenant being in violation of court orders? - answers5 days
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"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
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After getting the real estate salesperson license, how often must you take Continuing Education
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classes? - answers10 hrs every 2 years
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The Truth in Lending Act (TILA) is implemented by - answersregulation Z
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Which of the following isn't part of a deed? - answersnovation
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The fund set aside for replacement of common property in a condominium, PUD or cooperative
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project is called a: - answersReplacement reserve fund
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PITI = - answersPrinciple, Interest, Taxes, and Insurance
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A landlord is allowed to access the premises unannounced in which they own for: - answersOnly
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in case of emergency
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The FHA uses what to pay lenders, within the limits, resulting from foreclosure? -
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answersMutual Mortgage Insurance
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If Jonathan lists his property with Julian, a broker in his hometown, and subsequently is killed in a
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tragic car accident before the listing is sold or expired, what happens with the listing? - answersit
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is terminated
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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
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periodically based on an index
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