SC PROPERTY MANAGEMENT EXAMINATION TEST
2025/2026 QUESTIONS WITH ANSWERS RATED A+
✔✔How many member does the South Carolina real estate commission have? - ✔✔10
✔✔How long of a term does a commission member serve? - ✔✔a term of 4 years, and
until a qualified successor is elected or appointed
✔✔What are powers and duties of real estate commission? - ✔✔-Enforces regulations
and laws under SC real estate chapter
-determines standards and qualifications for licensure applications, real estate licenses
and educational providers as well a schedule of fees
-conducts disciplinary hearings for violations
-recommends changes in legislation that governs real estate regulations relative to
welfare and safety of the public
-conducts period inspections of offices of licensees
✔✔How long can License remain on inactive status? - ✔✔indefinitely (in order to
activate license again, individual must reapply for same license, pay fee, and meet any
continuing-ed requirements.
✔✔When must a license be reinstated/renewed by? - ✔✔Last day of the 6th month of
the year (June 30th). Every two years
✔✔How long after rental agreement is signed by both parties, does a property manager
or broker in charge have to deposit funds?
this includes fund such as
-security deposits
-pet deposits
-damage deposits
-rental proceeds - ✔✔48 hours (excluding Saturdays, Sundays or bank holidays)
✔✔How long must funds stay in trust account? - ✔✔until transaction is terminated or
consummated, in which funds will be disbursed in accordance with contract
✔✔Consummation - ✔✔completion of the act of renting, selling, or leasing.
✔✔Abandonment - ✔✔Surrender or relinquish of a real estate property, including
apiece of land or housing unit
✔✔Accumulated Depreciation - ✔✔The assets depreciation from the acquisition phase,
to the latest depreciation results in dollar amount
✔✔What does ADA stand for? - ✔✔Americans with Disabilities Act
,✔✔What is the American's with Disability Act (ADA) - ✔✔Federal Legislation that
prohibits any form of discriminations against people with disabilities
✔✔Amortization - ✔✔equalization of the regular mortgage payment over the life of the
loan, by lowering interest payments and raising the principle payments.
✔✔Annual Depreciation - ✔✔Depreciation of an asset in the recently finished fiscal year
in dollar amount
✔✔Affordable Housing - ✔✔housing governed by a federal or state agency that
provides people on low or limited income, affordable housing to buy or rent when certain
criteria is met
✔✔Ammenities - ✔✔Material or immaterial features of a given property that increase its
value to make it more desirable
✔✔Apartment - ✔✔Residential unit inside a structure built for housing and is defined as
a rented living space. (excludes condominiums and other owned residential units.
✔✔Cap Rate (Capitalization Rate) - ✔✔expresses the anticipated rate of return from an
investment property, with an aim to access the investments potential profit
✔✔Comparables (comps) - ✔✔A part of a valuation technique that determines the value
of a current asset by using a recently sold asset similar enough for indicating the
expected sale price.
✔✔Condo's (condominium) - ✔✔a multi-unit building that can be owned by the people
living inside.
✔✔Conventional Housing - ✔✔A type of housing that stays within the area's housing
standards or the market rate limits.
✔✔Co-signer - ✔✔secondary signer on a lease or mortgage, whom provides additional
assurance to lender and is equally responsible financially
✔✔Curb Appeal - ✔✔A concept expressing the attractiveness of the house's visual look
as viewed from the street level.
✔✔Depreciation - ✔✔A decrease or loss in value (functionality, economic, or physical
wear)
, ✔✔Equal Housing Opportunity - ✔✔American citizens have the opportunity to live in
different housing communities regardless of age, disability, familial status, nationality,
race or sexual orientation
✔✔What is the primary function of a property manager? - ✔✔To generate greatest
income for the owner/client
✔✔one of the factors that has contributed to the development of property management?
A) declining cost of of apartment building construction
B)centralization of traditional downtown areas
C)increase in use of trolleys and rail lines
D)invention of steel framed buildings and elevators - ✔✔D) invention of steel framed
buildings and elevators
✔✔The oldest property management certification program in the US that is HUD-
approved is? - ✔✔(RAM) Registered Apartment Manager
✔✔An office building is what kind of real estate? - ✔✔Commercial Real Estate
✔✔The largest demand for services of a professional property manager is found in what
type of real estate? - ✔✔Residential Property
✔✔Shopping center, factory outlets, and super malls are examples of what type of real
estate property? - ✔✔Retail Property
✔✔Many business parks offer a combination of both office buildings and industrial
spaces that is divided into units of various sizes. these spaces are called? -
✔✔Incubator Spaces
✔✔Properties designed to meet specific needs of heavy industry are generally
A) Developed by real estate speculators
B) Managed by large real estate companies
C) Occupied and managed by owner
D) Sold to investors and leased back - ✔✔C) Occupied and managed by owner
✔✔What are some examples of concierge services? - ✔✔-Business services to tenants
fax (Courier services)
-Rental services of small equipment to tenants
-Personal services such as picking up cleaning, gift wrapping and shopping
(SERVICES DO NOT INCLUDE- providing extra storage space)
2025/2026 QUESTIONS WITH ANSWERS RATED A+
✔✔How many member does the South Carolina real estate commission have? - ✔✔10
✔✔How long of a term does a commission member serve? - ✔✔a term of 4 years, and
until a qualified successor is elected or appointed
✔✔What are powers and duties of real estate commission? - ✔✔-Enforces regulations
and laws under SC real estate chapter
-determines standards and qualifications for licensure applications, real estate licenses
and educational providers as well a schedule of fees
-conducts disciplinary hearings for violations
-recommends changes in legislation that governs real estate regulations relative to
welfare and safety of the public
-conducts period inspections of offices of licensees
✔✔How long can License remain on inactive status? - ✔✔indefinitely (in order to
activate license again, individual must reapply for same license, pay fee, and meet any
continuing-ed requirements.
✔✔When must a license be reinstated/renewed by? - ✔✔Last day of the 6th month of
the year (June 30th). Every two years
✔✔How long after rental agreement is signed by both parties, does a property manager
or broker in charge have to deposit funds?
this includes fund such as
-security deposits
-pet deposits
-damage deposits
-rental proceeds - ✔✔48 hours (excluding Saturdays, Sundays or bank holidays)
✔✔How long must funds stay in trust account? - ✔✔until transaction is terminated or
consummated, in which funds will be disbursed in accordance with contract
✔✔Consummation - ✔✔completion of the act of renting, selling, or leasing.
✔✔Abandonment - ✔✔Surrender or relinquish of a real estate property, including
apiece of land or housing unit
✔✔Accumulated Depreciation - ✔✔The assets depreciation from the acquisition phase,
to the latest depreciation results in dollar amount
✔✔What does ADA stand for? - ✔✔Americans with Disabilities Act
,✔✔What is the American's with Disability Act (ADA) - ✔✔Federal Legislation that
prohibits any form of discriminations against people with disabilities
✔✔Amortization - ✔✔equalization of the regular mortgage payment over the life of the
loan, by lowering interest payments and raising the principle payments.
✔✔Annual Depreciation - ✔✔Depreciation of an asset in the recently finished fiscal year
in dollar amount
✔✔Affordable Housing - ✔✔housing governed by a federal or state agency that
provides people on low or limited income, affordable housing to buy or rent when certain
criteria is met
✔✔Ammenities - ✔✔Material or immaterial features of a given property that increase its
value to make it more desirable
✔✔Apartment - ✔✔Residential unit inside a structure built for housing and is defined as
a rented living space. (excludes condominiums and other owned residential units.
✔✔Cap Rate (Capitalization Rate) - ✔✔expresses the anticipated rate of return from an
investment property, with an aim to access the investments potential profit
✔✔Comparables (comps) - ✔✔A part of a valuation technique that determines the value
of a current asset by using a recently sold asset similar enough for indicating the
expected sale price.
✔✔Condo's (condominium) - ✔✔a multi-unit building that can be owned by the people
living inside.
✔✔Conventional Housing - ✔✔A type of housing that stays within the area's housing
standards or the market rate limits.
✔✔Co-signer - ✔✔secondary signer on a lease or mortgage, whom provides additional
assurance to lender and is equally responsible financially
✔✔Curb Appeal - ✔✔A concept expressing the attractiveness of the house's visual look
as viewed from the street level.
✔✔Depreciation - ✔✔A decrease or loss in value (functionality, economic, or physical
wear)
, ✔✔Equal Housing Opportunity - ✔✔American citizens have the opportunity to live in
different housing communities regardless of age, disability, familial status, nationality,
race or sexual orientation
✔✔What is the primary function of a property manager? - ✔✔To generate greatest
income for the owner/client
✔✔one of the factors that has contributed to the development of property management?
A) declining cost of of apartment building construction
B)centralization of traditional downtown areas
C)increase in use of trolleys and rail lines
D)invention of steel framed buildings and elevators - ✔✔D) invention of steel framed
buildings and elevators
✔✔The oldest property management certification program in the US that is HUD-
approved is? - ✔✔(RAM) Registered Apartment Manager
✔✔An office building is what kind of real estate? - ✔✔Commercial Real Estate
✔✔The largest demand for services of a professional property manager is found in what
type of real estate? - ✔✔Residential Property
✔✔Shopping center, factory outlets, and super malls are examples of what type of real
estate property? - ✔✔Retail Property
✔✔Many business parks offer a combination of both office buildings and industrial
spaces that is divided into units of various sizes. these spaces are called? -
✔✔Incubator Spaces
✔✔Properties designed to meet specific needs of heavy industry are generally
A) Developed by real estate speculators
B) Managed by large real estate companies
C) Occupied and managed by owner
D) Sold to investors and leased back - ✔✔C) Occupied and managed by owner
✔✔What are some examples of concierge services? - ✔✔-Business services to tenants
fax (Courier services)
-Rental services of small equipment to tenants
-Personal services such as picking up cleaning, gift wrapping and shopping
(SERVICES DO NOT INCLUDE- providing extra storage space)
