Chapter 12 Book Quiz

Anyone acting in the capacity of a real estate agent with the expectation of compensation must have a license issued by the real estate commission. Activities requiring a real estate license include all the following EXCEPT: A) Auctioning or offering to auction real estate. B) Selling a personal mobile home. C) Soliciting referrals for any real estate transaction. D) Providing advice, opinions or any other form of representation in real estate.

Selling a personal mobile home.

The following are exempt from the biennial continuing education EXCEPT: A) a broker or salesperson who successfully completes a post-licensing course is exempt for the period during which the course was taken B) a broker or salesperson while on inactive status; however, the ten-hour requirement must be completed and proof submitted with an application to return to active status C) a broker or salesperson upon reaching the age of sixty years with a minimum of twenty years of licensure D) a nonresident broker or salesperson who has successfully satisfied the continuing education requirements of the jurisdiction of residence

a broker or salesperson upon reaching the age of sixty years with a minimum of twenty years of licensure

As a condition of active license renewal, a broker or salesperson shall provide proof of satisfactory completion A) of ten hours of continuing education, with four hours covering state and federal laws affecting licensees every two years B) of ten hours of continuing education, with two hours covering state and federal laws affecting licensees every year C) of eight hours of continuing education, with four hours covering state and federal laws affecting licensees every two years D) of eight hours of continuing education, with four hours covering state and federal laws affecting licensees every year

of ten hours of continuing education, with four hours covering state and federal laws affecting licensees every two years

An applicant who passes the examination must apply for a license within ________, or the applicant must reapply for and retake the examination A) two years B) one year C) six months D) three months

one year

An individual who, at the time of application, holds a real estate license in another state or jurisdiction or whose real estate license in another state or jurisdiction expired not more than six months before application is required to A) pass only the state portion of the examination to qualify for licensure B) pass the national and state portion of the examination to qualify for licensure C) take 60 hours of pre-license training and pass the state portion of the exam to qualify for licensure D) take 60 hours of pre-license training and pass the national and state portion of the exam to qualify for licensure

pass only the state portion of the examination to qualify for licensure

Upon completing Fundamentals of Real Estate (60 hour Pre-license training) and passing the state exam, one must complete 30 hours of Unit II training A) prior to receiving a real estate license B) within one year of completing the licensing course C) within one year of passing the state exam D) within one year of joining a real estate brokerage firm

prior to receiving a real estate license

The purpose of the Real Estate Commission is to A) enact real estate license law legislation B) protect the interest of the public when involved with real estate transactions C) administer the real estate license state exam D) resolve commission disputes between licensees

protect the interest of the public when involved with real estate transactions

A person seeking licensure after revocation shall: A) submit to the commission satisfactory proof that the person is trustworthy, has a good reputation for honesty and fair dealing, and is competent to transact the business of a real estate licensee B) submit proof of educational qualifications as set forth in this chapter if the proof of educational qualifications on file is more than two years old C) pass the applicable examination with a score of 80% or better D) meet any other qualifications and conditions set by the real estate education association

submit to the commission satisfactory proof that the person is trustworthy, has a good reputation for honesty and fair dealing, and is competent to transact the business of a real estate licensee

When a licensee becomes disassociated with a broker-in-charge or property manager- in-charge for any reason A) the broker-in-charge or property manager-in-charge must notify the commission immediately and furnish a forwarding address B) the licensee must notify the commission immediately and furnish a forwarding address C) the broker-in-charge or property manager-in-charge must notify the commission within 10 days and furnish a forwarding address D) the licensee must notify the commission within 10 days and furnish a forwarding address

the licensee must notify the commission immediately and furnish a forwarding address

After revocation of a license, a new license may not be issued to the same individual within a period of A) five years from the date of revocation or at any time thereafter except upon an affirmative vote of a majority of the members of the commission. B) one year from the date of revocation or at any time thereafter except upon an affirmative vote of a majority of the members of the commission. C) two years from the date of revocation or at any time thereafter except upon an affirmative vote of a majority of the members of the commission. D) three years from the date of revocation or at any time thereafter except upon an affirmative vote of a majority of the members of the commission.

three years from the date of revocation or at any time thereafter except upon an affirmative vote of a majority of the members of the commission.

Powers and Duties of the Real Estate Commission do not include A) determining the standards for licensure B) conduct disciplinary hearings C) write educational curriculum for real estate license courses D) recommend changes in legislation

write educational curriculum for real estate license courses

Brokers or salespersons taking more than the required number of hours during a two- year period may carry forward ____________ excess hours to another renewal period a. 0 b. 2 c. 4 d. 6

0

A resident licensee who becomes a nonresident must notify the commission in writing, within A) 10 days B) 30 days C) 45 days D) 60 days

30 days

To be licensed as a Property Manager, one must complete how may hours of classroom training? A) 30 hours B) 45 hours C) 60 hours D) Property managers do not require a license in South Carolina

30 hours

For a Salesperson License one must complete how many hours of pre-license training? A) 30 hours B) 60 hours C) 90 hours D) 120 hours

90 hours

All of the following are exemptions from licensing requirements EXCEPT: A) an attorney at law acting within the scope of his duties involved in the legal representation of his client/owner B) state or federal government and their employees acting within the scope of their official duties C) auctioning real estate D) foresters registered, if the sale of any land is merely incidental to the sale of timber on the land

auctioning real estate

To qualify for licensure in South Carolina, one must A) be 18 years of age for salesperson, submit to a background check, have a GED or high school diploma and pass the state exam B) be 21 years of age for property manager, submit to a background check, have a GED or high school diploma and pass the state exam C) be 18 years of age for broker, submit to a background check, have a GED or high school diploma and pass the state exam D) be 25 years of age for broker-in-charge, submit to a background check, have a GED or high school diploma and pass the state exam

be 18 years of age for salesperson, submit to a background check, have a GED or high school diploma and pass the state exam

Which of the following statements are true when applying for licensure by reciprocity? A) non-resident licensees are not required to be licensed under a broker-in-charge in South Carolina B) non-resident licensees are not required to maintain a place of business in South Carolina C) non-resident licensees must file an irrevocable consent to suit D) both b and c

both b and c

All licensees must ensure their license is renewed A) by June 30th, every year B) by January 1st, every year C) by January 1st, every two years D) by June 30th, every two years

by June 30th, every two years

When conducting disciplinary hearings for alleged violations, the Real Estate Commission A) cannot initiate an investigation without a written complaint B) can initiate a temporary restraining order C) the commission shall render a decision and shall serve, within sixty days, notice, in writing, of the commission's decision to the licensee charged D)can issue a fine between $100 and $500 per violation

can initiate a temporary restraining order

All the following statements are true concerning the Real Estate Commission EXCEPT: A) determine candidates to serve on the Real Estate Commission B) the commission may not be involved in the resolution of disputes between licensees over the payment or division of commission C) the department may conduct periodic inspections of the offices of licensees in order to assist with and to ensure compliance with this chapter D) it is the responsibility of a licensee to keep on file with the department a current mailing address

determine candidates to serve on the Real Estate Commission

Real Estate Licensing courses in South Carolina are good for A) two years B) three years C) four years D) five years

five years

To be licensed as a Broker in South Carolina, one must A) complete 180 hours of classroom training and pass the state exam B) complete 120 hours of classroom training and five years experience in real estate C) complete 150 hours of classroom training and five years as a salesperson D) have three years as a salesperson and pass the state exam

have three years as a salesperson and pass the state exam

Upon determination by the commission that one or more of the grounds for discipline exists, the commission may A) impose a fine between $100 and $500 B) impose a fine between $500 and $1,000 C) impose a fine between $500 and $2,500 D) impose a fine between $500 and $5,000

impose a fine between $500 and $5,000

Should a licensee not renew their license by June 30th, their license will be A) cancelled B) lapsed C) inactive D) revoked

lapsed