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THE CE SHOP PRACTICE TEST SC REAL ESTATE Questions and Correct Answers | Latest Update $13.49   Add to cart

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THE CE SHOP PRACTICE TEST SC REAL ESTATE Questions and Correct Answers | Latest Update

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  • Course
  • CE SHOP
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  • 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 ...

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  • September 28, 2024
  • 40
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • CE SHOP
  • CE SHOP
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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 _________.



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