SC Property Management Practice Examination
2026–2027 | Comprehensive 150-Question
Practice Test with Answers & Rationales| Free
Pdf Access.
Section 1: Licensing & Commission Requirements
1. How many members serve on the South Carolina Real Estate Commission, and
what are their term lengths?
A) 7 members appointed in 3-year terms
B) 10 members appointed in 4-year terms
C) 12 members elected in 2-year terms
D) 8 members appointed in 5-year terms
Answer: B - The SC Real Estate Commission consists of 10 members appointed in 4-
year terms .
2. What is the minimum age requirement to apply for a Property Manager (PM)
license in South Carolina?
A) 16 years
B) 18 years
C) 21 years
D) 25 years
Answer: B - Applicants must be at least 18 years old to qualify for a property manager
license .
,3. What is the minimum age requirement to become a Property Manager-in-
Charge (PMIC)?
A) 18 years
B) 21 years
C) 25 years
D) 30 years
Answer: B - A PMIC must be at least 21 years old .
4. Before a property manager may become a PMIC, what additional education
must they complete?
A) 15 hours of instruction in fair housing
B) 7 hours of instruction in PM accounting and record keeping
C) 30 hours of instruction in broker management
D) 10 hours of continuing education
Answer: B - A PM must complete seven hours of instruction in property management
accounting and record keeping before becoming a PMIC .
5. If your license has lapsed, how long do you have to pay renewal dues before you
must reapply and retake the exam?
A) 3 months
B) 6 months
C) 12 months
D) 24 months
Answer: B - You may renew within six months of expiration. After that, you must
reapply and retake the examination .
6. After revocation of a license, a person may NOT reapply for how long?
,A) 1 year
B) 2 years
C) 3 years
D) 5 years
Answer: C - After revocation, a person may not reapply for three years .
7. Which entity administers the South Carolina property management
examination?
A) South Carolina Real Estate Commission
B) PSI Services
C) National Association of Realtors
D) Department of Labor
Answer: B - PSI Services is the approved testing provider responsible for administering
the South Carolina property management examination .
Section 2: Trust Accounts & Handling Funds
8. Within what timeframe must cash or certified funds for a security deposit be
deposited into the PMIC's trust account?
A) Immediately upon receipt
B) Within 24 hours of receipt
C) Within 48 hours of receipt (excluding weekends and bank holidays)
D) Within 5 business days
Answer: C - Cash or certified funds for a security deposit must be deposited within 48
hours of receipt, excluding Saturdays, Sundays, and bank holidays .
9. When should personal checks for a security deposit be deposited?
, A) Immediately upon receipt
B) Within 48 hours after the lease is signed by all parties
C) Within 5 business days
D) Within 30 days
Answer: B - Personal checks for security deposits must be deposited within 48 hours
after the lease is signed by the parties to the lease .
10. A PM received a security deposit from a tenant and placed it in their personal
checking account. For this action, the agent was found guilty of:
A) Conversion
B) Commingling
C) Fraud
D) Negligence
Answer: B - Commingling occurs when client funds are mixed with the manager's
personal or business funds. Trust money must remain separate .
11. Which statement is TRUE regarding trust/escrow accounts in South Carolina?
A) They cannot be interest-bearing
B) They can be interest-bearing
C) They must be non-interest bearing accounts only
D) Interest must always go to the property manager
Answer: B - Trust/escrow accounts can be interest-bearing .
12. How long must trust account records be kept on file?
A) 3 years
B) 5 years
2026–2027 | Comprehensive 150-Question
Practice Test with Answers & Rationales| Free
Pdf Access.
Section 1: Licensing & Commission Requirements
1. How many members serve on the South Carolina Real Estate Commission, and
what are their term lengths?
A) 7 members appointed in 3-year terms
B) 10 members appointed in 4-year terms
C) 12 members elected in 2-year terms
D) 8 members appointed in 5-year terms
Answer: B - The SC Real Estate Commission consists of 10 members appointed in 4-
year terms .
2. What is the minimum age requirement to apply for a Property Manager (PM)
license in South Carolina?
A) 16 years
B) 18 years
C) 21 years
D) 25 years
Answer: B - Applicants must be at least 18 years old to qualify for a property manager
license .
,3. What is the minimum age requirement to become a Property Manager-in-
Charge (PMIC)?
A) 18 years
B) 21 years
C) 25 years
D) 30 years
Answer: B - A PMIC must be at least 21 years old .
4. Before a property manager may become a PMIC, what additional education
must they complete?
A) 15 hours of instruction in fair housing
B) 7 hours of instruction in PM accounting and record keeping
C) 30 hours of instruction in broker management
D) 10 hours of continuing education
Answer: B - A PM must complete seven hours of instruction in property management
accounting and record keeping before becoming a PMIC .
5. If your license has lapsed, how long do you have to pay renewal dues before you
must reapply and retake the exam?
A) 3 months
B) 6 months
C) 12 months
D) 24 months
Answer: B - You may renew within six months of expiration. After that, you must
reapply and retake the examination .
6. After revocation of a license, a person may NOT reapply for how long?
,A) 1 year
B) 2 years
C) 3 years
D) 5 years
Answer: C - After revocation, a person may not reapply for three years .
7. Which entity administers the South Carolina property management
examination?
A) South Carolina Real Estate Commission
B) PSI Services
C) National Association of Realtors
D) Department of Labor
Answer: B - PSI Services is the approved testing provider responsible for administering
the South Carolina property management examination .
Section 2: Trust Accounts & Handling Funds
8. Within what timeframe must cash or certified funds for a security deposit be
deposited into the PMIC's trust account?
A) Immediately upon receipt
B) Within 24 hours of receipt
C) Within 48 hours of receipt (excluding weekends and bank holidays)
D) Within 5 business days
Answer: C - Cash or certified funds for a security deposit must be deposited within 48
hours of receipt, excluding Saturdays, Sundays, and bank holidays .
9. When should personal checks for a security deposit be deposited?
, A) Immediately upon receipt
B) Within 48 hours after the lease is signed by all parties
C) Within 5 business days
D) Within 30 days
Answer: B - Personal checks for security deposits must be deposited within 48 hours
after the lease is signed by the parties to the lease .
10. A PM received a security deposit from a tenant and placed it in their personal
checking account. For this action, the agent was found guilty of:
A) Conversion
B) Commingling
C) Fraud
D) Negligence
Answer: B - Commingling occurs when client funds are mixed with the manager's
personal or business funds. Trust money must remain separate .
11. Which statement is TRUE regarding trust/escrow accounts in South Carolina?
A) They cannot be interest-bearing
B) They can be interest-bearing
C) They must be non-interest bearing accounts only
D) Interest must always go to the property manager
Answer: B - Trust/escrow accounts can be interest-bearing .
12. How long must trust account records be kept on file?
A) 3 years
B) 5 years
