Sc real estate exam - Study guides, Class notes & Summaries

Darryl owns a property in a critical coastal area in South Carolina. What obligation does he have? - Answer Darryl must disclose that the property lies in a critical area and is subject to limitations. South Carolina licensee Joseph tells his client that a property is zoned as residential, even though he knows it's zoned as commercial. This violation is an example of ______. - Answer Making a substantial and willful misrepresentation Erin is purchasing a new house in South Carolina for $1...

how often do realtors renew licenses - correct answer every 2 years by June 30th which I the end of the fiscal year how many hours of continuing education do you need - correct answer 8 hrs every 2 years how long do you need to wait to reinstate your license after it is revoked - correct answer 1 yr can a broker in charge be over move than 1 branch office at a time - correct answer yes broker in charge, receives earnest money at start o acceptance/written acceptance offer, how long d...

SC PSI REAL ESTATE EXAM PREP QUESTIONS AND ANSWERS, GRADED A+/ VERIFIED/ Which of the following describes the term appreciation? - -An increase in the value of property When ownership of a mortgage is transferred from one company or individual to another, it is called: - -An assignment A mortgage loan which requires the remaining balance be paid at a specific point in time is called a: - -Balloon mortgage The following reason accounts for why bridge loans are not used much anymore: - -Mo...

SC Real Estate - State Portion Exam Practice Questions and Answers Associated Licensee - Correct Answer ️️ -Licensee who is affiliated with a BIC Broker - Correct Answer ️️ -For a fee, salary, commission Negotiates, Auctioins, Solicits a referral, Offers advisory services, Offers to act as an agent, Advertises Broker-in-Charge - Correct Answer ️️ -Has responsibility over actions of all associated licensees and real estate trust accounts Client - Correct Answer ️️ -Person ...

SC REAL ESTATE - STATE PORTION EXAM REVIEW QUESTIONS AND ANSWERS, GRADED A+/ Associated Licensee - -Licensee who is affiliated with a BIC Broker - -For a fee, salary, commission Negotiates, Auctioins, Solicits a referral, Offers advisory services, Offers to act as an agent, Advertises Broker-in-Charge - -Has responsibility over actions of all associated licensees and real estate trust accounts Client - -Person with whom a licensee has an established agency relationship Customer - -Pers...

SC REAL ESTATE PSI EXAM REVIEW QUESTIONS AND ANSWERS, GRADED A+/ VERIFIED/ Agent AKA Proxy - -One engaged to respresent and be under the control of a principal Principal AKA Client - -One who contracts with another for represenation, advise and cousel in legal or business dealings with third parties. Third Party AKA customer - -The person(s) the agent is trying to do busines with while representing the client Common Law - -Created by judges Statues - -written State or Federal laws Ty...

SC REAL ESTATE LICENSING EXAM REVIEW QUESTIONS AND ANSWERS. GRADED A+ In which of the following cases would a person probably be required to have a real estate license? - -Bruce gets hired to find an office suite for a friend who is relocating her business. A license applicant signs up to take the state examination, but has failed to obtain an employer prior to the exam date. In this case, the applicant - -may take the exam and receive an inactive license. A broker operates an office in ...