REAL ESTATE U SOUTH CAROLINA FINAL
EXAM VERSION 2 QUESTIONS WITH ANSWERS
100% CORRECT!!
, Most residential leases are...? - ANSWER Gross leases
A mortgage lien is an example of a/an...? - ANSWER A voluntary lien
What is a licensee required to do when they are selling one of their listings to a family
member? - ANSWER A licensee is required to provide both parties with full disclosure
that he or she is representing them both at the same time, and both parties must agree
to this arrangement.
Are real estate professionals subject to the limitations established by the National Do
Not Call Registry? - ANSWER Yes. There are no exceptions to this rule for real estate
professionals.
All offers and counter offers need to be complete and presented promptly, as well as
always being? - ANSWER In writing.
Which of the following water sources is not covered by the rules of the Safe Drinking
Water Act (SDWA)? - ANSWER Wells serving fewer than 25 people
The South Carolina Real Estate Commission has a total of 10 members; how many of
them must be in the real estate profession? - ANSWER All 10
Who typically forms Multiple Listing Services (MLS)? - ANSWER Local real estate
boards who are members of the National Association of REALTORS® (NAR)
How do brokers expect their agents to use a code of ethics? - ANSWER As a way to
help them make complicated decisions on their own.
Which loan is considered a non-amortizing loan? - ANSWER Interest-only loan
The lender is also known as the...? - ANSWER Mortgagee
In the real estate industry, what is the name for the relationship between a principal and
an agent? - ANSWER Agency
Which of the following forms are brokers required to present to clients before signing a
listing or buyer's agreement? - ANSWER A relationship disclosure form.
One discount point is equal to ............of the loan amount. - ANSWER 1% (percent)
EXAM VERSION 2 QUESTIONS WITH ANSWERS
100% CORRECT!!
, Most residential leases are...? - ANSWER Gross leases
A mortgage lien is an example of a/an...? - ANSWER A voluntary lien
What is a licensee required to do when they are selling one of their listings to a family
member? - ANSWER A licensee is required to provide both parties with full disclosure
that he or she is representing them both at the same time, and both parties must agree
to this arrangement.
Are real estate professionals subject to the limitations established by the National Do
Not Call Registry? - ANSWER Yes. There are no exceptions to this rule for real estate
professionals.
All offers and counter offers need to be complete and presented promptly, as well as
always being? - ANSWER In writing.
Which of the following water sources is not covered by the rules of the Safe Drinking
Water Act (SDWA)? - ANSWER Wells serving fewer than 25 people
The South Carolina Real Estate Commission has a total of 10 members; how many of
them must be in the real estate profession? - ANSWER All 10
Who typically forms Multiple Listing Services (MLS)? - ANSWER Local real estate
boards who are members of the National Association of REALTORS® (NAR)
How do brokers expect their agents to use a code of ethics? - ANSWER As a way to
help them make complicated decisions on their own.
Which loan is considered a non-amortizing loan? - ANSWER Interest-only loan
The lender is also known as the...? - ANSWER Mortgagee
In the real estate industry, what is the name for the relationship between a principal and
an agent? - ANSWER Agency
Which of the following forms are brokers required to present to clients before signing a
listing or buyer's agreement? - ANSWER A relationship disclosure form.
One discount point is equal to ............of the loan amount. - ANSWER 1% (percent)
