An investor purchases a rental property for $240,000 and it generates $24,000 in annual gross rental income. What is the gross rent multiplier (GRM)?
Source: General Real Estate Math
South Carolina no longer uses the term "salesperson" for its entry-level real estate license. What is the correct current name of this license tier under Title 40, Chapter 57?
A. Salesperson
B. Associate
C. Provisional broker
D. Broker-in-charge
Source: S.C. Code Ann. § 40-57-320
How many hours of pre-licensing classroom instruction must an applicant for a South Carolina associate license complete in "Fundamentals of Real Estate Principles and Practices"?
A. 30 hours
B. 45 hours
C. 60 hours
D. 90 hours
Source: S.C. Code Ann. § 40-57-320
An applicant for a South Carolina associate license has completed the 60-hour fundamentals course but not yet the 30-hour advanced principles course. Under § 40-57-320, may the applicant sit for the licensing examination?
A. No, both the 60-hour and 30-hour courses must be completed before the exam may be taken
B. Yes, an applicant may take the license examination before completing the required 30 hours of advanced instruction
C. No, the applicant must wait one full year after completing the fundamentals course
D. Yes, but only if the applicant already holds a college degree in any field
Source: S.C. Code Ann. § 40-57-320
What is the general structure of South Carolina's real estate licensing examination for an associate applicant?
A. 120 scored questions, consisting of 80 national and 40 state-law questions, with a 70% passing score required on both portions
B. 50 questions covering only South Carolina-specific law, with no national portion
C. 300 questions administered over two full days
D. An oral interview conducted by the South Carolina Real Estate Commission
Source: S.C. Code Ann. § 40-57-320
