South Carolina MLO Exam Info
Specific South Carolina MLO Exam Content: There is no such thing as a "standard" mortgage loan originator Exam. All states have varied content from each other. This is why we spend so much time preparing the individual content for the South Carolina MLO exam keeping up with the changes as they occur in South Carolina.
MLO Practice Exams are organized into categories: When studying for your South Carolina MLO exam it is important to know your areas of weakness. We have taken the time to divide up the content into categories such as Federal Law, Loan Origination, General Loan knowledge and ethics. Each Category is graded separately to make it easier to identify and focus on your areas of weakness. Also included are master MLO Exams which incorporate all of the different categories into one test to help prepare you for your South Carolina MLO Exam.
South Carolina MLO Exam Questions Questions Are constantly Updated: We constantly update all of our South Carolina practice questions, including our national practice questions, our explanations and answers, and other content. These all unite to give you the most comprehensive and up to date information for your South Carolina MLO Exam.
South Carolina Real Estate License Requiments
Individuals must be 18 to be licensed as a salesman and 21 to be licensed as a broker.
A prospective licensee must be a high school graduate or hold a certificate of equivalency.
Sales license applicants - completion of a Commission-approved 60-hour (or more) course in the fundamentals of real estate. Within one year after passing the examination, the applicant must be sponsored by a broker-in-charge and apply for a provisional sales license, which is mailed to the broker-in-charge. During the first year of licensure, provisional salesmen must complete an additional 30 hours of Commission-approved postlicensing education. To upgrade a provisional license to permanent status, proof of the postlicensing course(s), application, and fee ($25) must be sent to the Real Estate Commission FAILURE TO MEET THESE REQUIREMENTS WILL RESULT IN THE CANCELLATION OF THE PROVISIONAL SALES LICENSE.
For a broker's license, completion of 150 hours, 90 hours of which may be the hours required for a salesman's license, of classroom instruction in advanced real estate principles and practices and related topics, and three years of experience within the past five years with a salesman's license or evidence submitted to the Department of a Juris Doctor, Bachelor of Laws degree, or a baccalaureate degree with a major in real estate from an accredited college or university or the Commission may accept proof of related education and at least five years of experience immediately preceding license application in business activities equivalent to or closely related to real estate transactions.
There is no licensed experience requirement for a sales examination. For a broker's examination, however, the law requires three or more years of active licensure within the last five years preceding application. To receive recognition for out-of-state experience, the applicant must obtain a Certification of Licensure, including history, education, and disciplinary action from the real estate regulatory agency (commission, board, etc.) of all other states where he/she is or has been licensed before applying for examination.
Examinations are scheduled every Monday through Saturday in Beaufort, Charleston, Columbia, Greenville, Myrtle Beach, SC, and in Charlotte, NC. PSI is the examination provider for the Commission and they publish a Candidate Information Bulletin for approved candidates for the real estate examinations. Candidates receive this bulletin when they receive the examination eligibility letter from the Commission. Examinees must receive a passing score on both portions of the exam (general and state). Retesting may be scheduled quickly if one or both portions are failed.
Any applicant who has been convicted of a crime or sanctioned by any licensing agency or has adverse items on a credit report must reveal that fact on his/her application. The Regulatory Compliance Department may review the application and then conduct an investigation before an examination can be scheduled. This may result in a delay.
Upon original application, each applicant must pay the following fees:
- Sales - $25 (plus $10 for a credit report). After passing the examination, applicants must pay a license fee of $25 and to upgrade from provisional status, a fee of $25.
- Broker - $25 (plus $10 for a credit report). After passing the examination, applicants must submit a separate two-year licensing fee of $250 for a broker-in-charge license or $125 for a broker license.
- PSI's examination fee is $63.
Now go pass the Sougth Carolina Real Estate Exam!
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