THE CE SHOP PRACTICE TEST SC REAL ESTATE Questions and Correct Answers | Latest Update
0 view 0 purchase
Course
CE SHOP
Institution
CE SHOP
When performing a market analysis, given the adjusted sales prices of three comparables,
which comparable would you weigh most heavily?
-The one that had more upward adjustments than the others
-The one that required less adjustment
-The one with an adjusted sales price higher than the actual ...
Best Grades | Must Pass | Latest Update | Correct Answers | 2024/ 2025
THE CE SHOP PRACTICE TEST SC REAL
ESTATE Questions and Correct Answers |
Latest Update
When performing a market analysis, given the adjusted sales prices of three comparables,
which comparable would you weigh most heavily?
-The one that had more upward adjustments than the others
-The one that required less adjustment
-The one with an adjusted sales price higher than the actual sales price
-The one with the adjusted sales price lower than the actual sales price
The one that required less adjustment
**The comparable that required less adjustment overall (including both
upward and downward adjustments) will be the one most similar to the
subject property. Therefore, it would be weighed most heavily .
In South Carolina, the parties agree in the sales contract to a repair procedure unless what
document is attached?
-Amendment to Repair Procedure
-Due Diligence Addendum
-Seller Disclosure Statement
-Waiver of Repair Procedure
Due Diligence Addendum
~ 1 ~ for inquiry mail me @ supergrades12@gmail.com
, Best Grades | Must Pass | Latest Update | Correct Answers | 2024/ 2025
Without a buyer agency agreement in place, which party does the agent who's assisting the
buyer represent?
-No one
-The agent
-The buyer
-The seller
The seller
**If there is no agency agreement in place, the agent who's assisting the buyer represents the
seller.
If special assessments apply to a property involved in a South Carolina sales transaction,
who's responsible for paying the assessment?
-The brokers representing the buyer and seller
-The buyer, if the assessment is applied prior to closing
-The closing attorney
-The seller, if the assessment is applied prior to closing
The seller, if the assessment is applied prior to closing
**The sellers are responsible for paying any special assessments applied before closing, and
the buyers are responsible for any that are applied after closing.
~ 1 ~ for inquiry mail me @ supergrades12@gmail.com
, Best Grades | Must Pass | Latest Update | Correct Answers | 2024/ 2025
Mark is a seller who prepaid his property taxes. What happens to the amount he prepaid
and won't benefit from when he sells?
-He'll receive a credit at closing.
-He'll receive a debit at closing.
-The buyer must repay this amount when the next property taxes are due.
-The excess funds are deposited into the state's Widows and Orphans Fund.
He'll receive a credit at closing.
**Prepaid items are credited to the seller at closing. Accrued but not yet paid items are
credited to the buyer at closing.
Deducting the costs of maintaining and operating an income property provides a(n) _______
that's attractive to many real estate investors.
-Credit boost
-Increase in equity
-Profit
-Tax shelter
Tax shelter
**Operating expenses can be deducted from rental income, and therefore provide a tax
shelter that makes investing more attractive.
~ 1 ~ for inquiry mail me @ supergrades12@gmail.com
, Best Grades | Must Pass | Latest Update | Correct Answers | 2024/ 2025
Hiram plans to do a 1031 tax-deferred exchange. He just sold his property. How many days
does he have to close on a new property?
-180
-30
-45
-60
180
Denise is the listing agent on a property that's next to a lake. When advertising the property
for sale, she describes it as "waterfront." Is this okay?
-No, she didn't mention how much frontage the property has on the lake.
-No, the word "waterfront" is misleading.
-Yes, as long as she includes a photo.
-Yes, the house sits next to the lake.
Yes, the house sits next to the lake.
**Using "waterfront" to describe this property is acceptable. Now, if the only water in sight
was a small man-made pond the sellers put in ... that'd be a different story.
Earnest money in South Carolina must be deposited using _________.
~ 1 ~ for inquiry mail me @ supergrades12@gmail.com
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Apluss. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.49. You're not tied to anything after your purchase.
