South Carolina Real Estate 2025/2026
Exam Questions Marking Scheme New
1
Update | A+ Rated
Board members and team - 🧠 ANSWER ✔✔10 members of the
commission; 8 licensees and 2 members of the public- the term is for 4
years
Activities that require a license - 🧠 ANSWER ✔✔Acting as a broker,
salesman, negotiating, listing, sale, purchase, exchange, auction
License status - 🧠 ANSWER ✔✔Active- under one BIC at a time
Inactive- can hold indefinitely; must pay renewal biennially and then take
mandatory continuing education
Expired/lapsed- expires June 30 renewed biennially, if not it becomes a
lapsed license and you can reinstate in six months with a $25 a month fee
if not then it's expired
COPYRIGHT©PROFFKERRYMARTIN 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE.
PRIVACY STATEMENT. ALL RIGHTS RESERVED
,Trust fund monies - 🧠 ANSWER ✔✔Earnest money, rent, security deposit,
referral fees, bonuses
2
When must you disclose you are licensed? - 🧠 ANSWER ✔✔When there is
a possible transaction
Property disclosures - latent defects - 🧠 ANSWER ✔✔May not knowingly
give false information about condition. Silence is considered giving false
information. The agent is not obligated to discover latent or hidden defects
in the property
Stigmatized properties - 🧠 ANSWER ✔✔A psychological problem with the
property. It is up to you if you want to disclose any death or virus except
HIV and AIDS cannot be disclosed
Statute of frauds -offers and counter offers - 🧠 ANSWER ✔✔In order for a
contract to be enforceable it has to be in writing
How long to keep all records? - 🧠 ANSWER ✔✔Five years
When must in earnest money deposit be given to a BIC? - 🧠 ANSWER
✔✔Cash or certified funds to be given immediately within 24 hours
COPYRIGHT©PROFFKERRYMARTIN 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE.
PRIVACY STATEMENT. ALL RIGHTS RESERVED
, Checks to be given 24 hours from ratification
When most a BIC deposit earnest money ? - 🧠 ANSWER ✔✔Cash or
3
certified funds deposited within 48 hours of receipt
Checks deposited 48 hours after acceptance of offer
Commingling - 🧠 ANSWER ✔✔Illegal-mixing of people in accounts example
-keeping trust funds for commission
Conversion - 🧠 ANSWER ✔✔Theft- using trust money for example license
renewal
Disputed funds - 🧠 ANSWER ✔✔If no agreement is made on who gets
earnest money a written agreement signed by all parties who wants the
money files an interpleader action funds are deposited to the court until
determined
Principal - 🧠 ANSWER ✔✔Someone who is hired you - firm/human
Client - 🧠 ANSWER ✔✔Person who has hired you-Agency agreement
Agent - 🧠 ANSWER ✔✔The company
COPYRIGHT©PROFFKERRYMARTIN 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE.
PRIVACY STATEMENT. ALL RIGHTS RESERVED
Exam Questions Marking Scheme New
1
Update | A+ Rated
Board members and team - 🧠 ANSWER ✔✔10 members of the
commission; 8 licensees and 2 members of the public- the term is for 4
years
Activities that require a license - 🧠 ANSWER ✔✔Acting as a broker,
salesman, negotiating, listing, sale, purchase, exchange, auction
License status - 🧠 ANSWER ✔✔Active- under one BIC at a time
Inactive- can hold indefinitely; must pay renewal biennially and then take
mandatory continuing education
Expired/lapsed- expires June 30 renewed biennially, if not it becomes a
lapsed license and you can reinstate in six months with a $25 a month fee
if not then it's expired
COPYRIGHT©PROFFKERRYMARTIN 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE.
PRIVACY STATEMENT. ALL RIGHTS RESERVED
,Trust fund monies - 🧠 ANSWER ✔✔Earnest money, rent, security deposit,
referral fees, bonuses
2
When must you disclose you are licensed? - 🧠 ANSWER ✔✔When there is
a possible transaction
Property disclosures - latent defects - 🧠 ANSWER ✔✔May not knowingly
give false information about condition. Silence is considered giving false
information. The agent is not obligated to discover latent or hidden defects
in the property
Stigmatized properties - 🧠 ANSWER ✔✔A psychological problem with the
property. It is up to you if you want to disclose any death or virus except
HIV and AIDS cannot be disclosed
Statute of frauds -offers and counter offers - 🧠 ANSWER ✔✔In order for a
contract to be enforceable it has to be in writing
How long to keep all records? - 🧠 ANSWER ✔✔Five years
When must in earnest money deposit be given to a BIC? - 🧠 ANSWER
✔✔Cash or certified funds to be given immediately within 24 hours
COPYRIGHT©PROFFKERRYMARTIN 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE.
PRIVACY STATEMENT. ALL RIGHTS RESERVED
, Checks to be given 24 hours from ratification
When most a BIC deposit earnest money ? - 🧠 ANSWER ✔✔Cash or
3
certified funds deposited within 48 hours of receipt
Checks deposited 48 hours after acceptance of offer
Commingling - 🧠 ANSWER ✔✔Illegal-mixing of people in accounts example
-keeping trust funds for commission
Conversion - 🧠 ANSWER ✔✔Theft- using trust money for example license
renewal
Disputed funds - 🧠 ANSWER ✔✔If no agreement is made on who gets
earnest money a written agreement signed by all parties who wants the
money files an interpleader action funds are deposited to the court until
determined
Principal - 🧠 ANSWER ✔✔Someone who is hired you - firm/human
Client - 🧠 ANSWER ✔✔Person who has hired you-Agency agreement
Agent - 🧠 ANSWER ✔✔The company
COPYRIGHT©PROFFKERRYMARTIN 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE.
PRIVACY STATEMENT. ALL RIGHTS RESERVED
