Answers 2023 with complete solution
If a brokerage firm changes its name, address, phone, or email, within how many days
must the commission be notified?
A. 10 days
B. 30 days
C. Immediately
D. Seven days
A. 10 days
The broker-in-charge must notify the real estate commission of changes to name or
contact information within 10 days.
Which of these would NOT be considered first substantive contact with a customer?
A. Asking a couple why they want to move from their gorgeous home.
B. Discussing how much savings the customer has.
C. Engaging in small talk about the weather and the desire to buy property
D. Finding out information about a customer's job and an upcoming raise and bonus
C. Engaging in small talk about the weather and the desire to buy property.
First substantive contact generally means before discussing financial, confidential, or
motivational information with a consumer.
According to South Carolina's Residential Landlord and Tenant Act, what's the largest
amount a landlord can require for a security deposit?
A. $1,000
B. One month's rent
C. Six months' rent
D. There's no limit
D. There's no limit
No limit is specified for security deposits, but one month's rent is common.
Records related to a real estate transaction in South Carolina must be kept, and
available upon commission request, for at least ______ years
A. Five
B. Seven
C. Three
D. Two
A. Five
Records must be retained for at least five years and must be accessible to inspectors or
the commission upon request.
,Charlene is a South Carolina real estate licensee who has three other licensees working
under her supervision. What type of license does Charlene hold?
A. Broker
B. Broker-in-charge
C. Office manager
D. Salesperson
B. Broker-in-charge
Only an individual holding a broker-in-charge license can supervise other licensees.
If a South Carolina licensee commits a violation and it's found the broker-in-charge
didn't adequately supervise the licensee, whose license in jeopardy?
A. both the broker-in-charge's and licensee's
B. The broker-in-charge's
C. The licensee's
D. The license of any future licensee of the firm
A. Both the broker-in-charge's and licensee's
Failure to supervise is a common violation, often occurring when an associated licensee
has committed a violation, putting both the licensee's and the affiliated broker-in-
charge's license in jeopardy.
Alfred, a South Carolina licensee, received trust funds from a client on Monday. When
must he deliver the funds to his broker-in-charge?
A. By end of day Monday
B. By end of day Thursday
C. By end of day Tuesday
D. By end of day Wednesday
C. By end of day Tuesday
Associated licensees must deliver trust funds to the broker-in-charge no later than the
end of the next business day.
Which of these would be considered a lawful tenant complaint against a landlord about
a health and safety issue?
A. A fire hazard the tenant caused
B. An allergy to a neighboring tenant's cooking smells
C. An unheated breezeway in the common area
D. A pest intrusion
D. A pest intrusion
Tenants may not make a compliant against a landlord for an unsafe issue the tenant
caused.
Which one of the following is an example of how agency can be terminated by an act of
the agent?
, A. Renunciation
B. The agent dues
C. The agent files bankrupty
D. The client dies
A. Renunciation
If an agent renounces the representation agreement before the expiration date, agency
terminates by an action.
You're a South Carolina licensee engaged as a transaction broker for a customer in a
real estate transaction. Which of these actions can you perform for that customer?
A. Advocate for the customer.
B. Negotiate an agreeable price
C. Process paperwork
D. Recommend terms
C. Process paperwork
A transaction broker can perform ministerial duties, such as assisting with paperwork,
but may not provide representation, advocate, or negotiate for either party.
Victor is interested in obtaining a real estate salesperson license in South Carolina. He's
reviewing the eligibility requirements for the license and researching schools that offer
pre-licensing education. Which entity determines theses?
A. Department of Labor, Licensing, and Regulation (LLR)
B. Division of Professional and Occupational Licensing
C. South Carolina Association of REALTORS
D. South Carolina Real Estate Commission
D. South Carolina Real Estate Commission
The South Carolina Real Estate Commission (created under LLR) has the power to
administer and enforce real estate license law, including determining qualification and
eligibility standards for license applicants and education providers.
Agency terminates by ______ when either the client or the agent files for bankruptcy.
A. Act of the agent
B. Act of the client
C. Financial hardship
D. Operation of law
D. Operation of law
Bankruptcy terminates agency by operation of law.
A portion of Jason's South Carolina property includes a marsh often covered in
saltwater. Is this considered a critical area?
A. No, only areas within 1,000 feet of the coast are critical areas.