SC Property Management License Updated Exam 2026 WITH
Recent Newest Verified And Well Analyzed Exam Questions
(Actual Exam 2026-2027) Correct Detailed & Verified
ANSWERS (100% Accurate Solutions) ALREADY GRADED
A+||NEWEST VERSION Of The Exam Guarantee Pass!!
PM & PMIC licenses need to renewed biennially -ANSWERS-June 30th
(end of state's fiscal year)
The SC Real Estate Commission consists of how many members -
ANSWERS-10 members appointed in 4 year terms
For how long may a licensed salesperson, broker or PM go on inactive
status? -ANSWERS-Indefinitely if the renewal fees are paid
What is a specified duty of a BIC or PMIC according to the license law -
ANSWERS-maintain adequate, reasonable, and regular contact with
associated licensees engaged in real estate transactions
Regarding the management of real estate offices -ANSWERS-a BIC or
PMIC may be in charge of more than one branch office
After revocation of license, a person may NOT -ANSWERS-reapply for
three years
What happens if you fail to renew your license on time? -ANSWERS-You
must cease real estate business operations, but you may renew within six
months of expiration
,Before a property manager may become a PMIC, the PM must: -
ANSWERS-complete seven hours of instruction in PM accounting and
record keeping
Conversion -ANSWERS-to use trust funds for the purpose other than the
purpose of which they are held. Unlawful use of funds.
Customer -ANSWERS-a buyer, seller, landlord or tenant who uses the
services of a real estate licensee but does not establish an agency
relationship through a written agency agreement with the licensee's real
estate brokerage firm
The South Carolina Real Estate Commission has the power to: -
ANSWERS-fine, suspend and revoke licenses
A real estate licensee must: -ANSWERS-agree to refrain from
discriminatory practices
The SC Real Estate Commission -ANSWERS-is authorized to implement
and enforce the license law
A real estate BIC or PMIC -ANSWERS-must maintain a place of business
Office -ANSWERS-the office location where a BIC or a PMIC is licensed to
conduct real estate business
Property Manager -ANSWERS-An associated licensee who meets
educational requirements and passes the examination for a PM license and
who will, for a fee, salary, commission will negotiate or attempt to negotiate,
list or offers to list and advertise or represent.
, PMIC -ANSWERS-a PM who is designated as having the responsibility
over the actions of associated licensees and the responsibility and control
over and liability for real estate trust accounts
The Real Estate Commission may -ANSWERS-fine licensed violators a min
of $500 & a max of $5,000 per violation
The main purpose of a trust account is to -ANSWERS-safeguard funds
belonging to the tenant
Trust Account -ANSWERS-an escrow account or properly designated
demand deposit and include the words "trust" or "escrow". Established &
maintained by BIC or PMIC to safeguard funds belonging to parties to a
real estate transaction
Trust Funds -ANSWERS-funds received on behalf of another person by a
licensee in the course of performing a real estate activity
What documents have to be kept in the broker's office for 5 years? -
ANSWERS-Lease Agreements
Which is true of trust/escrow accounts -ANSWERS-They can be interest
bearing
If you fail to renew or register a license and continue to engage in real
estate activities requiring a license, what sanctions may be put upon you? -
ANSWERS-Fines up to max $500 and/or imprisonment for not more than
six months
Recent Newest Verified And Well Analyzed Exam Questions
(Actual Exam 2026-2027) Correct Detailed & Verified
ANSWERS (100% Accurate Solutions) ALREADY GRADED
A+||NEWEST VERSION Of The Exam Guarantee Pass!!
PM & PMIC licenses need to renewed biennially -ANSWERS-June 30th
(end of state's fiscal year)
The SC Real Estate Commission consists of how many members -
ANSWERS-10 members appointed in 4 year terms
For how long may a licensed salesperson, broker or PM go on inactive
status? -ANSWERS-Indefinitely if the renewal fees are paid
What is a specified duty of a BIC or PMIC according to the license law -
ANSWERS-maintain adequate, reasonable, and regular contact with
associated licensees engaged in real estate transactions
Regarding the management of real estate offices -ANSWERS-a BIC or
PMIC may be in charge of more than one branch office
After revocation of license, a person may NOT -ANSWERS-reapply for
three years
What happens if you fail to renew your license on time? -ANSWERS-You
must cease real estate business operations, but you may renew within six
months of expiration
,Before a property manager may become a PMIC, the PM must: -
ANSWERS-complete seven hours of instruction in PM accounting and
record keeping
Conversion -ANSWERS-to use trust funds for the purpose other than the
purpose of which they are held. Unlawful use of funds.
Customer -ANSWERS-a buyer, seller, landlord or tenant who uses the
services of a real estate licensee but does not establish an agency
relationship through a written agency agreement with the licensee's real
estate brokerage firm
The South Carolina Real Estate Commission has the power to: -
ANSWERS-fine, suspend and revoke licenses
A real estate licensee must: -ANSWERS-agree to refrain from
discriminatory practices
The SC Real Estate Commission -ANSWERS-is authorized to implement
and enforce the license law
A real estate BIC or PMIC -ANSWERS-must maintain a place of business
Office -ANSWERS-the office location where a BIC or a PMIC is licensed to
conduct real estate business
Property Manager -ANSWERS-An associated licensee who meets
educational requirements and passes the examination for a PM license and
who will, for a fee, salary, commission will negotiate or attempt to negotiate,
list or offers to list and advertise or represent.
, PMIC -ANSWERS-a PM who is designated as having the responsibility
over the actions of associated licensees and the responsibility and control
over and liability for real estate trust accounts
The Real Estate Commission may -ANSWERS-fine licensed violators a min
of $500 & a max of $5,000 per violation
The main purpose of a trust account is to -ANSWERS-safeguard funds
belonging to the tenant
Trust Account -ANSWERS-an escrow account or properly designated
demand deposit and include the words "trust" or "escrow". Established &
maintained by BIC or PMIC to safeguard funds belonging to parties to a
real estate transaction
Trust Funds -ANSWERS-funds received on behalf of another person by a
licensee in the course of performing a real estate activity
What documents have to be kept in the broker's office for 5 years? -
ANSWERS-Lease Agreements
Which is true of trust/escrow accounts -ANSWERS-They can be interest
bearing
If you fail to renew or register a license and continue to engage in real
estate activities requiring a license, what sanctions may be put upon you? -
ANSWERS-Fines up to max $500 and/or imprisonment for not more than
six months
