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Real Estate Practice Test 1

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Quiz sobre Real Estate Practice Test 1, criado por cchapinb em 09-07-2015.
cchapinb
Quiz por cchapinb, atualizado more than 1 year ago
cchapinb
Criado por cchapinb aproximadamente 9 anos atrás
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1
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Resumo de Recurso

Questão 1

Questão
Disputed trust funds can be disbursed in the following way
Responda
  • verbal agreement between the parties
  • broker interprets contract and writes check
  • written agreement between the parties
  • following buyer client's instructions as to disbursement

Questão 2

Questão
Security deposits received in the agent's personal rental transaction are not required to be deposited in a trust account.
Responda
  • True
  • False

Questão 3

Questão
No cause of action may arise against a licensee for failure to disclose
Responda
  • material facts that should have been known by the agent
  • the location of any registered sex offender
  • any offsite condition that materially impacts the property being transferred
  • the fact that the road is set to be widened to four lanes in the next year

Questão 4

Questão
A licensee can be disciplined for
Responda
  • telling his/her client about stigmatizations
  • disclosing stigmatizations in response to a direct inquiry
  • disclosing material facts that appeared in an inspection report
  • making an intentional misrepresentation in response to a direct inquiry

Questão 5

Questão
The services you must give to a customer do not include
Responda
  • confidentiality
  • accounting for money and property received
  • providing a meaningful explanation of agency relationships
  • providing an explanation of the scope of services to be provided

Questão 6

Questão
A licensee who receives compensation in a real estate transaction from more than one party can be disciplined unless the fee is accepted with the full knowledge and written consent of all parties.
Responda
  • True
  • False

Questão 7

Questão
In South Carolina, real estate license law is administered by the
Responda
  • South Carolina Human Affairs Commission
  • South Carolina Real Estate Commission
  • South Carolina Association of Realtors
  • Department of Housing and Urban Development

Questão 8

Questão
All of the following are protected classes under the Fair Housing Laws EXCEPT
Responda
  • race
  • handicap
  • value
  • national origin

Questão 9

Questão
The duties and powers of the SC Real Estate Commission include all of the following EXCEPT
Responda
  • promulgating regulations to protect the public
  • conducting disciplinary hearings
  • determining the standards for licensure
  • conducting investigations of a real estate office based on an irate phone call

Questão 10

Questão
The SC Real Estate Commission may investigate for all of the following reasons EXCEPT
Responda
  • its own initiative
  • a written complaint submitted by an agent about a cooperative commission arrangement
  • the director has reason to believe that a licensee is unfit to practice
  • a written complaint submitted by a disgruntled customer

Questão 11

Questão
The SC Real Estate Commission has the authority to
Responda
  • make and enforce the rules by which all licensees must abide
  • compose the examination questions on the state exam
  • administer the exams given at the testing sites
  • enact the laws that govern real estate licensees

Questão 12

Questão
A broker is convicted on May 1st of possession and distribution of a controlled substance. Both the crime and the conviction took place out of state. On June 15, the broker calls the SC Real Estate Commission and leaves a message informing them of the conviction. Based on these facts, which of the following is TRUE?
Responda
  • the broker has properly informed the SC Real Estate Commission within 60 days after the conviction, and the broker's license may be renewed.
  • both the conviction and the broker's failure to notify the SC Real Estate Commission with 10 days violate the Commission regulations
  • because the conviction did not occur in state, it is not evidence of unworthy conduct
  • the conviction is evidence of both improper dealing and fraud

Questão 13

Questão
An agent's license renewal fee has been returned for insufficient funds. The SC Real Estate Commission
Responda
  • may take disciplinary action against the licensee
  • must allow the licensee a grace period of 30 days to pay the fee
  • may require the BIC to pay the renewal fee
  • must cancel the license immediately

Questão 14

Questão
A licensee may have a license revoked by the SC Real Estate Commission if the licensee
Responda
  • has been arrested for drugs
  • fails to mention a murder on a property to a potential buyer
  • pays a clerk to type up contracts
  • fails to inform the tenant that the security deposit will be held by the owner of the property, not the management company

Questão 15

Questão
The SC Fair Housing Law provides protection from discrimination for all of the following classes EXCEPT
Responda
  • sex
  • creed
  • national origin
  • age

Questão 16

Questão
A housing discrimination charge must be filed with the SC Human Affairs Commission within
Responda
  • 6 months
  • 1 year
  • 2 years
  • 30 days

Questão 17

Questão
All of the following may be grounds for disciplinary action by the SC Real Estate Commission EXCEPT
Responda
  • inducing a party to break a contract
  • interfering with the agency relationship of another agent and client
  • conviction of violating state fair housing laws
  • failure to disclose the death of a seller due to cancer

Questão 18

Questão
Which of the following activities does NOT require a real estate or property management license in SC?
Responda
  • approving applications of leases
  • negotiating fees
  • conducting an open house
  • being paid a salary to manage an agent's marketing campaign

Questão 19

Questão
In SC, applications for any real estate license must
Responda
  • be completed before taking the written exam
  • contain a picture of the applicant
  • be made before May 31st of each year
  • be accompanied by a sworn statement attesting to the applicant's character

Questão 20

Questão
A licensee on inactive status may
Responda
  • receive compensation for referrals
  • work as a part-time assistant showing houses
  • not conduct real estate activities
  • work as a leasing agent at a property management company

Questão 21

Questão
Which of the following is correct regarding an applicant for broker-in-charge?
Responda
  • must be at least 25 years of age
  • must have been licensed as a salesperson for at least five years as a salesperson
  • may be exempt by the SC Real Estate Commission from the education requirements
  • may substitute the property manager-in-charge license for the broker-in-charge license

Questão 22

Questão
A real estate licensee who wishes to also become a property manager
Responda
  • may also apply for a property manager's license
  • must first acquire a broker's license
  • must attend a 30 hour property management course
  • may manage property with a real estate license

Questão 23

Questão
When a licensed broker-in-charge changes his or her place of business,
Responda
  • a new license will be issued by the SC Real Estate Commission immediately
  • the broker-in-charge must notify the SC Real Estate Commission within 10 days
  • a new license will be issued for a full term
  • the broker-in-charge's new address must be approved by the SC Real Estate Commission

Questão 24

Questão
In SC, licenses are renewed
Responda
  • annually, in the month issued
  • every two years in the month of the licensee's birthday
  • on December 30th of each even-numbered year
  • biennially, on June 30th of each even-numbered year

Questão 25

Questão
A broker-in-charge intends to open a branch office in a neighboring town. The Broker-in-charge applies for a branch office license, giving a name that clearly identifies its relationship with his main office. The BIC names a licensed real estate salesperson as the branch office manager. Under these facts, could the BIC receive approval for the branch office?
Responda
  • Yes, the BIC has fully complied with the requirements
  • No, under the license, brokers cannot be in charge of branch offices in more than one municipality
  • Yes, by naming the salesperson as the branch's manager, the BIC is in compliance with the requirement that a broker may be in direct operational control of only one office or branch.
  • Yes, if the SC Real Estate Commission approves one broker acting as BIC of two offices

Questão 26

Questão
In SC, an unlicensed real estate assistant may perform all of the following activities EXCEPT
Responda
  • compute commission checks
  • answer questions about advertising
  • hold an open house
  • prepare and distribute flyers and promotional materials

Questão 27

Questão
The office manager for a local real estate firm is responsible for the following activities: coordinating the flow of paperwork through the office, preparing forms and advertising copy, and hiring and supervising clerical personnel. The office manager is
Responda
  • violating the license law
  • required to have a brokers license
  • required to have a salesperson's license
  • exempt from real estate licensing requirements

Questão 28

Questão
In SC, the following are requirements for obtaining a broker's license EXCEPT
Responda
  • having successfully completed 150 hours of approved real estate courses
  • being at least 21 years of age
  • having been actively engaged as a licensed salesperson for at least 5 years
  • being of good moral character

Questão 29

Questão
Regarding licensing and duties of personal real estate assistants in SC, they
Responda
  • must be licensed
  • may insert factual information into form contracts under the employing broker's supervision and approval
  • may show houses for their supervising broker
  • must be unlicensed individuals, licensees must either be salespeople or associate brokers

Questão 30

Questão
In SC, which of the following would need to be a licensed real estate BIC?
Responda
  • person who employs fewer than 3 agents
  • Son acting under a power of attorney to convey real estate
  • Owner of a duplex
  • Partnership selling a building owned by the partners

Questão 31

Questão
A real estate license is required for all of the following EXCEPT
Responda
  • managing real estate
  • reselling a personal mobile home
  • selling real estate
  • collecting rent for the use of real estate

Questão 32

Questão
A person must be licensed as a real estate broker or salesperson if that person is
Responda
  • selling his or her house
  • buying a house for his or her personal use
  • engaging in the real estate business
  • constructing houses

Questão 33

Questão
An applicant for a real estate license in SC must
Responda
  • have completed at least 2 years of college
  • be at least 21 years old
  • submit to a credit check
  • show proof of passing the license exam any time up to 6 months prior to the application

Questão 34

Questão
Under SC law, which of the following needs to be licensed?
Responda
  • the owner of a 30 unit apartment building
  • an employee of the State Housing Authority
  • a man who has been appointed the trustee of an estate
  • an auctioneer who auctions farm land

Questão 35

Questão
A BIC fails to renew her license by June 30th but continues to engage in real estate transactions. What penalties could be incurred?
Responda
  • none, because the license remains active if the renewal and penalties are all paid within six months
  • an automatic hearing with the commission after 90 days with a possible $1,000 fine and/or six months' imprisonment
  • $500 fine and/or six months imprisonment upon conviction
  • none, if the BIC can prove that non-renewal was not of malicious intent

Questão 36

Questão
A licensee who wishes to manage condominiums
Responda
  • must have a broker's license
  • does not need a property management license
  • can have a provisional real estate sales license
  • can have a time share license

Questão 37

Questão
A SC real estate salesperson may lawfully collect compensation from
Responda
  • either a buyer or a seller
  • his or her employing broker only
  • any party to the transaction or the party's representative
  • a licensed real estate broker only

Questão 38

Questão
If a licensee violates a provision of the license law, the licensee may be subject to which of the following?
Responda
  • revocation of license for a minimum of six months
  • minimum fine of $500
  • hearing in front of an administrative law judge
  • temporary restraining order

Questão 39

Questão
A licensee from another state applying for a license in South Carolina must file with the SC Real Estate Commission a
Responda
  • certificate of specific performance
  • irrevocable consent to suit
  • corpus delicti
  • copy of their birth certificate

Questão 40

Questão
All potential tenants must be provided and EPA Booklet and required to sign a lead based paint disclosure form for all rental properties built prior to
Responda
  • 2000
  • 1980
  • 1978
  • 1972

Questão 41

Questão
The Federal Anti-trust law which prohibits property managers from conspiring to set a commission or fee is called the
Responda
  • Sherman and Clayton Acts
  • Equal Credit Opportunity Acts
  • Real Estate Settlement and Procedures Act
  • Fair Housing Act

Questão 42

Questão
The enforcement agency over Megan's Law is
Responda
  • SLED
  • FBI
  • Attorney Generals Office
  • Local Sheriffs Dept

Questão 43

Questão
The Johns v. Mayer upheld the Civil Rights Act of 1866 by prohibiting
Responda
  • some racial discrimination
  • all racial discrimination
  • sexual discrimination
  • discriminatory advertising

Questão 44

Questão
If a person feels that he/she has been discriminated against by a property manager, a complaint may be filed with
Responda
  • the U.S. Supreme Court
  • a local magistrate
  • the Real Estate Commission
  • the Dept of housing and Urban Development

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