SOUTH CAROLINA REAL ESTATE EXAM QUESTIONS
AND CORRECT ANSWERS
The amount per $1,000 used to calculate taxes on property is the correct answer: millage rate
The common name of the hazardous-waste cleanup fund established by the Comprehensive
Environmental Response, Compensation and Liability Act (CERCLA) is correct answer:
superfund
May eviction and foreclosure notices be delivered electronically in South Carolina? correct
answer: NO
How many years of sales experience must a salesperson have in order to qualify to take the
brokers exam? correct answer: 3
A development map that shows the location and sizes of lots and streets is known as a correct
answer: grid plan
he Residential Property Condition Disclosure form applies to transactions that involve no more
than, how many units? correct answer: 4
How many years must a full copy of a transaction file be held by a broker after closing? correct
answer: 5
Who is responsible for maintaining a habitable property and for complying with local housing
and building codes in a rental situation? correct answer: Lessor
Salespersons must present any client monies received, to their broker, within correct answer: 1
business day
, The net spendable income generated by an investment is referred to as correct answer: Cash
flow
How long must a Broker in Charge or Property Manager in Charge retain their Trust Fund
Account records? correct answer: 5 years
A recipient of a high cost loan on a property in South Carolina must correct answer: receive
counseling on the advisability of the loan
Mortgage "discount" points only apply if which of the following conditions are met? correct
answer: The interest rate on the mortgage loan has been lowered by 1% for each point charged.
How long does a South Carolina landlord have to return a security deposit to a tenant at the
conclusion of a lease? correct answer: 30 days
Is SC a community property state? correct answer: No
Lenders will always order this before making a loan. correct answer: an appraisal
Betty Broker presents an offer to her seller, but the terms are not acceptable to the seller. What
form must Betty complete? correct answer: an offer rejection form
Mortgage loans with fluctuating rates are termed as correct answer: ARM
Does South Carolina have homestead laws? correct answer: YES
A buyer is viewing a home and asks the agent if any sex offenders live in the immediate area.
How should the agent respond? correct answer: educate the buyer on doing a search for sex
offenders in the area
AND CORRECT ANSWERS
The amount per $1,000 used to calculate taxes on property is the correct answer: millage rate
The common name of the hazardous-waste cleanup fund established by the Comprehensive
Environmental Response, Compensation and Liability Act (CERCLA) is correct answer:
superfund
May eviction and foreclosure notices be delivered electronically in South Carolina? correct
answer: NO
How many years of sales experience must a salesperson have in order to qualify to take the
brokers exam? correct answer: 3
A development map that shows the location and sizes of lots and streets is known as a correct
answer: grid plan
he Residential Property Condition Disclosure form applies to transactions that involve no more
than, how many units? correct answer: 4
How many years must a full copy of a transaction file be held by a broker after closing? correct
answer: 5
Who is responsible for maintaining a habitable property and for complying with local housing
and building codes in a rental situation? correct answer: Lessor
Salespersons must present any client monies received, to their broker, within correct answer: 1
business day
, The net spendable income generated by an investment is referred to as correct answer: Cash
flow
How long must a Broker in Charge or Property Manager in Charge retain their Trust Fund
Account records? correct answer: 5 years
A recipient of a high cost loan on a property in South Carolina must correct answer: receive
counseling on the advisability of the loan
Mortgage "discount" points only apply if which of the following conditions are met? correct
answer: The interest rate on the mortgage loan has been lowered by 1% for each point charged.
How long does a South Carolina landlord have to return a security deposit to a tenant at the
conclusion of a lease? correct answer: 30 days
Is SC a community property state? correct answer: No
Lenders will always order this before making a loan. correct answer: an appraisal
Betty Broker presents an offer to her seller, but the terms are not acceptable to the seller. What
form must Betty complete? correct answer: an offer rejection form
Mortgage loans with fluctuating rates are termed as correct answer: ARM
Does South Carolina have homestead laws? correct answer: YES
A buyer is viewing a home and asks the agent if any sex offenders live in the immediate area.
How should the agent respond? correct answer: educate the buyer on doing a search for sex
offenders in the area
