Commission exam questions Flashcards

section 2 Unit 1: License Law and the South Carolina Real Estate

Commission exam questions Flashcards What is the South Carolina Real Estate Commission authorized to do?a. License appraisers and home inspectorsb. Regulate advertising of small home businessesc. Require minimum daily work hours for all licenseesd. Set requirements and standards of conduct for real estate licensees, as well as enforce South Carolina's real estate laws

• Set requirements and standards of conduct for real

estate licensees, as well as enforce South Carolina's real estate laws How many members of the South Carolina Real Estate Commission aren't active real estate professionals?a. 1b.7c. 3d. 2

• 2

Which of the following scenarios constitutes illegal licensee compensation in South Carolina?a. Carrie, a licensee, had her broker make her commission check out to "Shoe Gal, LLC," her sole-proprietor company.b. Miranda's seller client reimbursed Miranda for the special signage she paid for when marketing his property.c. Per the listing agreement, Charlotte's broker shared her listing commission with the buyer agent's broker.d. Samantha's broker paid another broker a referral fee after he sent a local client Samantha's way.

• Miranda's seller client reimbursed Miranda for the

special signage she paid for when marketing his property.Mathew is a South Carolina salesperson representing a seller on behalf of his broker-in-charge, Lanie. Kendra is a salesperson representing a buyer on behalf of her broker-in-charge, Janelle. Mathew's listing agreement provides for compensation to the buyer's agent in the transaction. Who will Kendra receive her compensation from?a. Janelleb. laniec. Mathewd. the seller

• janelle

Which of these duties is outside the scope of the South Carolina Real Estate Commission?a. determining commission splits between licenseesb. Determining license qualifications and requirementsc. Holding hearings on possible license law violationsd. promogulating regulations

• determining commission splits between licensees

What purpose does the South Carolina Real Estate Commission serve?a. To promote ethical and professional actions of real estate licensees representing consumers in transactions.b. To promote the health, safety, and economic well-being of the public through regulation, licensing, enforcement, training, and education.c. To protect the best interests of the real estate industry and the professionals serving in that industry.d. To regulate the real

estate industry to protect the public's interest when involved in real estate transactions.

• To regulate the real estate industry to protect the public's

interest when involved in real estate transactions.Amanda helps her neighbor sell his South Carolina home by assisting with negotiations. She receives no compensation for her assistance. Based on this one transaction, Amanda ______.a. doesn't need a real estate licenseb. must have a broker licensec. Must have at least an associate broker licensed. Must have at least a

salesperson license

• doesn't need a real estate licenseRemember that

compensation is one factor in the requirement for licensure.Myra's license was suspended by the South Carolina Real Estate Commission. How many days does she have to appeal its decision?a. 150 daysb. 30 daysc. 60 daysd. 90 days

• 30 daysThe South Carolina Administrative Procedures

Act sets the appeal process, which must be started within 30 days of the commission's final ruling.

In addition to the South Carolina licensee's name, what other information must be included on advertisements?a.firm's addressb. firm's full namec. licensees addressd.licensees number

• firm's full address

A person performing real estate activities in South Carolina under the judgment or order of a court, such as a trustee in a bankruptcy, is ______.a. not required to have a real estate licenseb. Required to have a broker licensec.required to have at least a sales agent licensed. Required to have taken all pre-licensing courses, but passing the exam is not required

• not required to have a real estate license

When is a South Carolina real estate license required?a.when performing maintenance work for one property ownerb. When performing real estate activities for others, for compensation of any kindc. When performing real estate activities for others, without compensationd. when performing real estate active for yourself

• When performing real estate activities for others, for

compensation of any kind Tom is an unlicensed individual helping his sister Katie find a new house in return for a trip to Europe. Which of the following activities can Tom legally perform in South Carolina?a. He can imply to others that he's Katie's real estate agent.b. He can negotiate the purchase a new property for Katie.c. He can negotiate the sale of Katie's old house.d. He can search real estate websites and resources to find available homes in the area.

• He can search real estate websites and resources to find

available homes in the area.Victor is interested in obtaining a real estate salesperson license in South Carolina. He's reviewing the eligibility requirements for the license and researching schools that offer pre-licensing education. Which entity determines these?a. Department of Labor, Licensing, and Regulation (LLR)b. Division of Professional and Occupational Licensingc. South Carolina Association of REALTORS®d.South Carolina Real Estate Commission

• South Carolina Real Estate Commission

A member of a real estate team is designing an advertisement. What information must be included?a. Both team name and firm nameb. Either team name or firm name, but not bothc. Team name, firm name, and firm addressd. Team name, firm name, and team license number

• Both team name and firm name

Where is a consumer complaint against a South Carolina licensee filed?a. With the Attorney General's officeb. with the licensees themselvesc. With the South Carolina Real Estate Commissiond. With the supervising broker

• With the South Carolina Real Estate Commission

Which of the following advertising activities is considered illegal in South Carolina?a. A licensee including a link to