South Carolina Real Estate Broker Practice Exam

These questions are part of the practice quiz. Start practicing

• How many acres are there in 1 mile?
• What is a key feature of a rapidly amortizing mortgage?
• What is Reconveyance?
• In South Carolina, what can tenants do if they believe their landlord is violating the housing code?
• What is an easement by necessity?
• Which of the following is considered a material fact that must be disclosed to potential buyers?
• How does an easement appurtenant function?
• What does Ad Valorem mean in the context of real estate taxes?
• What is an open listing in real estate?
• What does conditional land use mean?
• Which of the following statements is true regarding the members of the South Carolina Real Estate Commission?
• What is Tenancy in Common?
• Which of the following is NOT a part of zoning ordinances?
• What is Effective Gross Income (EGI) calculated after?
• Who is required to have a license in real estate activities?
• What is the primary risk associated with damming as per Riparian Rights?
• What agency supervises thrift institutions?
• Which term describes property that is burdened by an easement?
• What is the formula for straight-line depreciation?
• How long is the term for members of the South Carolina Real Estate Commission?
• How is an easement by implication created?
• Which of the following is considered good consideration?
• Which federal law mandates disclosures to consumers about mortgage loan settlements?
• What does an area variance permit?
• What is the purpose of the Lead Based Paint Disclosure?
• What defines a general lien?
• Which practice involves denying loans to minority groups trying to purchase homes in predominantly white neighborhoods?
• What is spot zoning?
• What is an injunction?
• Which of the following is a protected category under the fair housing laws?
• How do you calculate mills in property taxation?
• In a net lease, which of the following costs is the tenant responsible for?
• What is one of the typical reasons a landlord may retain part of a tenant's security deposit?
• What does a quit claim deed convey?
• Which law was established to provide protections for fair housing practices in the United States?
• What defines a bilateral contract?
• What is the result of applying the CAP Technique?
• What characterizes a latent defect?
• Which of the following is an example of an easement in gross?
• Who enforces the Fair Housing Act of 1968?
• What is a land installment contract?
• What does a hypothecation clause secure?
• If a tenant fails to keep a property fit and habitable, what action may a landlord take in South Carolina?
• What does vicarious liability refer to?
• What does "seisin" refer to?
• In South Carolina, how soon must a landlord return the security deposit after the lease ends?
• What does strict liability mean in real estate law?
• Which of the following describes Spot Zoning?
• What is the purpose of Regulation Z?
• What type of easement exists between two parcels of land for the benefit of one?
• What type of clause is most often found in leases and mortgages for the purpose of cancelling a right upon repayment?
• What is a Variance in real estate?
• What significant legislation was passed on April 9, 1866?
• What authority does the South Carolina real estate commission have?
• What is a conveyance fee in real estate?
• What is an estate for years?
• What does possession of property signify as per Constructive Notice?
• What does the Reddendum Clause in a deed describe?
• What does 'curtesy rights' refer to in the context of South Carolina real estate?
• What does a Special Warranty Deed guarantee?
• Which term describes the process of soil being added to a property gradually?
• Which of the following represents an important legal concept in real estate transactions, specifically about the contract subject matter?
• Who typically pays all property expenses in a gross lease?
• For what duration can a security deposit be used for the damages beyond normal wear and tear?
• How long must a broker maintain a residential property condition disclosure statement?
• How long must the broker in charge maintain copies of buyer representation agreements in South Carolina?
• What must a grantor do to acknowledge the execution of a deed?
• What is the role of an Executrix?
• What does Voluntary Alienation refer to?
• What is required for a contract to be enforceable?
• What does extended coverage title insurance protect against?
• What describes an easement in gross?
• What is termed as the rate charged by the Federal Reserve for loans to commercial banks?
• What is a patent defect in real estate?
• Which of the following best describes the South Carolina Real Estate Commission's composition?
• What type of ownership is characterized by an indefinite, exclusive, and absolute interest in a parcel of real estate?
• Which act protects age as a classified group in housing?
• What characterizes a Bargain and Sale Deed?
• What is classified as an encumbrance?
• Which action is typically under the jurisdiction of the South Carolina real estate commission?
• When was the use of asbestos generally prohibited in construction?
• What is Constructive Notice?
• Which term refers to properties' income figures converted into estimated values?
• What distinguishes an easement by express reservation?
• Which of the following best describes 'bundle of rights' in South Carolina real estate?
• According to Fannie Mae and Freddie Mac standards, what percentage of a borrower's income can typically be allocated to housing expenses for a conventional loan?
• What is required of a broker upon receiving a judgment related to real estate?
• What type of property issue does extended coverage title insurance address?
• If a property is valued at $63,500, what would the tax be at a mill rate?
• What does marital status protection refer to in fair housing statutes?
• What is novation in real estate?
• What is the purpose of the Covenant Against Liens and Encumbrances?
• What does Ad Valorem tax rely on?
• What does redlining refer to in the context of real estate?
• Which type of lease is often used for commercial properties and is based on tenant's gross sales?
• Which scenario would most likely require a wraparound mortgage?
• How much of every license renewal fee in South Carolina goes to the real estate education and research account?
• What are the key components of a requirements contract?
• What aligns with redlining as an official practice today?
• What does the term "effective gross income" represent?
• Which of the following actions can a landlord take if a tenant fails to pay rent?
• What does the acronym PITI stand for in real estate?
• What can lead to the revocation or suspension of a broker's license?
• What is meant by equitable title in real estate?
• What is an Abstract of Title?
• In South Carolina, under what conditions may a landlord use a security deposit?
• What is the role of the Federal Housing Administration in today's real estate market?
• Which term refers to an area of preference that can influence property value?
• What is the maximum amount of security deposit a landlord can charge in South Carolina for a residential lease?
• What best describes a devisee?
• How is the Capitalization Rate (Cap Rate) calculated?
• What is a use variance?
• What is a Growth Equity Mortgage (GEM)?
• What is the consequence for failing to provide lead-based paint disclosure when required?
• Which type of easement is created without a formal agreement or grant?
• In real estate, what is 'consideration'?
• What does front footage refer to in real estate?
• What is Assemblage in real estate?
• Which term describes someone who receives title to real property?
• What illegal practice refers to inducing homeowners to sell by suggesting certain races are moving into the area?
• What is an easement by necessity created by?
• What is the primary type of notice that communicates information to the public through recorded documents?
• What is a defeasance clause used for?
• What is another name for Title VIII?
• What is redlining?
• What is the process called when property transfers to heirs without a will?
• What is an appurtenant easement?
• What does it mean to hypothecate a property?
• What does a seller affirm in an Affidavit of Title regarding judgments?
• Which of the following describes specific performance?
• What does the Superfund provide for hazardous waste sites?
• What is a Testator in the context of wills?
• What is the purpose of an alienation clause?
• What does the term condemnation refer to?
• What is described by an Affidavit of Title?
• In real estate, what is an encumbrance?
• Which of the following methods can be used to create express agency?
• What does 'front foot' refer to in property measurement?
• What is the defining characteristic of an express contract?
• What are latent defects?
• Riparian rights apply to which type of property?
• What is a bequest?
• How long can a property manager in South Carolina be sentenced to prison for violations related to tenant discrimination?
• What does an easement by necessity guarantee?
• Which of the following best describes a legal title in a hypothecation clause?
• What term describes a law indicating that the added value of an additional feature is less than the actual cost incurred?
• Who elects the licensed professionals on the South Carolina Real Estate Commission?
• What was Urea-formaldehyde foam insulation known for before being banned?
• What does a Setback indicate?
• What is a wraparound mortgage?
• What must happen for an easement by prescription to be valid?
• What does APR stand for in borrowing terms?
• What is the definition of Net Operating Income (NOI)?
• Who is referred to as a Mortgagor?
• What term describes the total annual income a rental property produces after adjusting for vacancy losses?
• What can encompass claims both on and off record in real estate transactions?
• What is a blanket mortgage?
• What is the primary purpose of the Federal Housing Administration (FHA)?
• What must landlords provide to tenants regarding the security deposit?
• What creates an easement by prescription?
• What does legal responsibility for the actions of another relate to in real estate?
• Which type of mortgage is set up like a conventional loan but has increasing payments over time?
• What is required for adverse possession to be claimed?
• What does restitution entail in contract law?
• What are ad valorem taxes based on?
• What does the Covenant of Seizin promise?
• Which of the following best defines "Effective Gross Income"?
• What is the calculation for Gross Rent Multiplier based on?
• In a lease agreement known as 'estate for years', what is unique about its termination?
• What is a purchase money mortgage?
• What does the Equal Credit Opportunity Act (ECOA) prohibit?
• What is eminent domain?
• What notice must a landlord provide before evicting a tenant for non-payment of rent?
• What type of information is considered constructive notice in real estate?
• What does accretion mean in real estate?
• What is true about a partial release clause in a blanket mortgage?
• What do zoning ordinances regulate?
• What is Joint Tenancy characterized by?
• What is the primary benefit of a Reverse Annuity Mortgage (RAM)?
• What constitutes valuable consideration in a contract?
• What is the definition of non-conforming use in zoning regulations?
• What happens to property if an owner dies without a will and no heirs exist?
• What is the primary objective of the Open Housing Act of 1968?
• What is strictly prohibited under the Real Estate Settlement Procedures Act?
• What is an easement in gross?
• What does the Gross Rent Multiplier (GRM) calculate?
• What is a Lis Pendens?
• What can lead to a wrongful eviction claim in South Carolina?
• What does constructive notice refer to in real estate law?
• What does the term "devise" refer to in real estate?
• What is one characteristic of adverse possession?
• Which right allows a landowner to use water adjacent to their property?
• In real estate, what does the term "situs" specifically refer to?
• What is the definition of 'actual notice' in real estate terms?
• What does "escheat" refer to in real estate?
• What does the Civil Rights Act of 1968 also known as Title VIII address?
• What does the Statute of Frauds require?
• What is a key feature of a percentage lease?
• What does an easement by prescription grant?
• In real estate, what does the term "servient parcel" refer to?
• How does the Equal Credit Opportunity Act (ECOA) influence lending practices?
• What does the Habendum Clause in a deed define?
• What typically characterizes a gross lease?
• Which of the following is considered a non-allowable tax deduction on a mortgage?
• An easement appurtenant involves which of the following?
• Which aspect is key to a fee estate?
• In real estate, what does good faith and fair dealing entail when serving a customer?
• What type of mortgage covers both real and personal property?
• What is the appropriate term for a defect that can be detected through ordinary inspection?
• What is the equivalent of 1 acre in square feet?
• What is the purpose of the Department of Housing and Urban Development (HUD)?
• What does it mean to die Testate?
• How is an area variance different from a use variance?
• What is a legatee?
• What is an open-end mortgage?
• What legal concept requires all partners in a partnership to cover debts not paid by any of its members?
• What is a Special Warranty Deed?
• What does Spot Zoning refer to?
• What type of loans meet FNMA/FHLMC standards and can be traded on the secondary market?
• What legal repercussions arise from failing to adhere to lead-based paint regulations?
• What does one mill represent in terms of property taxes?
• Which document is primarily used for transferring title to real property?
• What are Riparian Rights?
• What does Actual Notice refer to in real estate?
• Which group of individuals does not have to be licensed to be appointed by the governor to the South Carolina Real Estate Commission?
• What does the term "caveat emptor" mean?
• What role does several liability play in partnerships?
• If a tenant has a lease that automatically renews, this is considered what type of lease?
• What does hypothecation mean in real estate?
• What is inverse condemnation?
• What year was the Civil Rights Act of 1866 enacted?
• How does a periodic tenancy differ from other lease agreements?
• What defines a unilateral contract?
• Who is referred to as a devisee?
• What is a common characteristic of a use variance?
• What does it mean if a mortgage is considered 'seller financing'?
• What is the best description of a Servient Tenement?
• What must a broker do if they receive a real estate-related judgment?
• Which type of contract is created when one party promises to perform an act without any obligation from the other party?
• What is a consequence of denying rental based on a tenant's eviction history in South Carolina?
• In South Carolina, who is responsible for overseeing the South Carolina Real Estate Commission?
• How does the immobility of land affect its valuation?
• What is the only duty owed to a customer in real estate transactions?
• How many members are on the South Carolina Real Estate Commission?
• What happens to the rights under an old contract in a novation?
• Which act makes credit available without discrimination based on race or other factors?
• What should landlords do regularly in order to maintain their rental properties?
• Which method uses annual net income to estimate a property's value?
• Which group is specifically exempt from discriminatory practices under the Civil Rights Act of 1968?
• What federal law requires disclosures when extending credit?
• What information does the Effective Gross Income help real estate professionals understand?
• What does steering refer to in real estate practices?
• If a tenant vacates a rental property, how must the landlord notify the tenant about the final accounting of the security deposit?
• What is the standard requirement for notice in a periodic tenancy?