,1. In South Carolina, which of the following is a legal method for
describing real property?
A) Street address
B) Tax map key number
C) Metes and bounds
D) Property's color
Correct Answer: C) Metes and bounds
2. A fiduciary duty requires a real estate agent to disclose which of
the following to their client?
A) Their commission rate
B) All received offers
C) Personal financial interest in the property
D) Their personal opinion on the property value
Correct Answer: B) All received offers
3. Which appraisal method would be most appropriate for valuing
a unique property with no comparable sales?
A) Sales comparison approach
B) Cost approach
, C) Income approach
D) Gross rent multiplier
Correct Answer: B) Cost approach
4. In South Carolina, what is the maximum allowable usury rate for
real estate loans?
A) 8.75%
B) 18%
C) 29%
D) There is no maximum rate
Correct Answer: D) There is no maximum rate
5. Which of the following best describes the term "encumbrance"?
A) A type of easement
B) A restriction on property use
C) A claim against a property
D) A type of freehold estate
Correct Answer: C) A claim against a property
6. What is the primary purpose of zoning regulations?
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