State Makeup Exam #2

Question

Under teh SC Fair housing Act, an aggrieved person may file a complaint directly with:

Answer 1

The US Civil Rights Agency

Answer 2

SC Human Affairs Commisssion

Answer 3

SC Real Estate Commission

Answer 4

Consumer Affairs Agency

Answer 5

When the BIC dies and the commission appoints them for up to 6 months

Answer 6

When a broker leaves the company and the Real Estate Commission allows them to for up to 120 days

Answer 7

Within 90 days after passing the brokers exam

Answer 8

When they are the owner of the office and the broker dies

Answer 9

Register with the Real Estate Commission

Answer 10

Have a broker-in-charge

Answer 11

Maintain at least one escrow or trust account

Answer 12

All of the above

Answer 13

actual eviction

Answer 14

constructive eviction

Answer 15

surrender and acceptance

Answer 16

Fair Credit Reporting Act

Answer 17

Civil Rights Act

Answer 18

Equal Credit Opportunity Act

Answer 19

Sherman-Clayton Act

Answer 20

Sherman Anti-Trust Act

Answer 21

Code of Ethic

Answer 22

SC Commission Act

Answer 23

Uniform Commercial Code Act

Answer 24

suspend, revoke, or cancel any license it issues

Answer 25

imprison a violator of the license laws

Answer 26

both fine and imprison a violator of license laws

Answer 27

not take any action if a licensee lets them know up front of a violation of the law.

Answer 28

protect the public through police power

Answer 29

collect fees and issue licenses

Answer 30

issue licenses through police power

Answer 31

protect citizens in the real estate business

Answer 32

refer interested clients and customers to the broker or other licensed individuals in the office

Answer 33

sell property if it is done under the broker's direct supervision

Answer 34

sell or negotiate deals as long as it is done in the office

Answer 35

show property as long as price is not discussed

Answer 36

arbitrating disputes among licensees

Answer 37

examining applicants

Answer 38

promulgating regulations governing the real estate business

Answer 39

issuing licenses

Answer 40

Turn it over to your broker at once

Answer 41

give it to the seller at once

Answer 42

hand deliver it to the closing attorney immediately

Answer 43

hold it for safe keeping until the closing

Answer 44

Real Estate Commission

Answer 45

Local Governments

Answer 46

Legislature

Answer 47

minimum education

Answer 48

pass license exam

Answer 49

minimum age

Answer 50

some creditable experience

Answer 51

SC Real Estate Commission

Answer 52

US Securities Commission

Answer 53

Safe Harbor

Answer 54

Protect the public from unqualified RE salespeople

Answer 55

establish and maintain ethical conduct standards

Answer 56

keeping up with licensing standards through continuing education

Answer 57

establish laws to protect the public

Answer 58

Take her license to the new broker who hangs it on his wall

Answer 59

Send in her old license and wait for the commission to reissue a new license or transfer online

Answer 60

Notify the commission in writing within15 days

Answer 61

get approval in writing before going to work, from the old broker, the new broker, and the agent must sign

Answer 62

at the end of the fiscal year which is June 30

Answer 63

9 months from the date of issue

Answer 64

12 months from the date of issue

Answer 65

15 months from the date of issue

Answer 66

withhold the commission before he turns the money over to the closing attorney

Answer 67

release the money to the closing attorney and sue the seller for the commission if necessary

Answer 68

instruct the attorney not to close the transaction due to fraud on the seller's part

Answer 69

file a complaint with the Real Estate Commission

Answer 70

give it to the owner

Answer 71

deposit it immediately in the general office checking account

Answer 72

deposit it in the broker's trust account at the bank

Answer 73

deposit it to his/her personal account

Answer 74

her broker in charge

Answer 75

an appreciative seller

Answer 76

a thankful buyer

Answer 77

all of the above

Answer 78

insure that both the seller and buyer are made aware of closing costs in a real estate transaction

Answer 79

make sure that borrowers tell the lending institutions the truth when they apply for mortgage money

Answer 80

make more residential property affordable to the masses

Answer 81

more clearly disclose the costs of borrowing to potential debtors and give them an opportunity to compare such costs with various lenders

Answer 82

an indefinite period of time

Answer 83

security deposits must be returned in full at the end of every lease within 30 days after expiration

Answer 84

if there is a security deposit, the landlord must account for this security deposit within 30 days of lease termination and if any deductions are made from the security deposit such deductions must be itemized

Answer 85

security deposits shall be no more than one month's rent and must be returned to the lessee within 15 days of lease termination

Answer 86

security deposits must be returned to the tenant within5 days of lease termination and if deductions are made such deductions must be itemized

Answer 87

a principal

Answer 88

Apply to the Navy Corps of Engineers

Answer 89

go through the channels of court

Answer 90

get a permit from the Office of Coastal Resource Management (OCRM)

Answer 91

As Cathy and William are tenants in common, they do not have to have the other's permission

Answer 92

legal description of the property, sales price, signature of vendee and date of signing

Answer 93

personal property listed in the agreement, so that there is no questions about what stays and goes

Answer 94

written terms and conditions, signatures, commission and dates

Answer 95

any material facts that the vendor knows of and property disclosure statement

Answer 96

Regulation Z

Answer 97

Selecting insurance agent, limiting maximum interest rates on written real estate loans, copy of closing statement

Answer 98

protects mortgagees

Answer 99

buyers selecting their attorney, no prepayment penalty on loans of less than $240,000, meaningful disclosure

Answer 100

broker in charge of a branch office

Answer 101

real estate broker's personal assistant who negotiates contracts only

Answer 102

the personal representative of a testator acting under a court order

Answer 103

a real estate salesperson showing a for-sale-by-owner property

Answer 104

current property tax assessments

Answer 105

seller's motivation

Answer 106

racial makeup of the neighborhood

Answer 107

any past murder or suicide on the property

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State Makeup Exam #2

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