REAL ESTATE LAW ACTUAL EXAM REVIEW
GUIDE WITH PRACTICE SOLUTION AND
GRADED A PLUS ANSWERS 2026
• Trust funds received by the real estate agent in a real estate transaction
must be deposited: . Answer: Within 24 hours of receipt if cash, within
36 hours of receipt if cash or check, or within 48 hours of acceptance of
the offer if check.
• A Broker-in-Charge wanting to open a branch office: . Answer: Must
also be the Broker-in-Charge of the branch office or may select a sales
associate to be the Broker-in-Charge for up to six months.
• Written copies of all records must be maintained for: . Answer: Three
years.
• Cases of License Law violation are appealed to: . Answer: An
administrative law judge.
• Members of the South Carolina Real Estate Commission include: .
Answer: One at-large member appointed by the Governor, two members
of the public appointed by the other members, and eight members who
are in the real estate business.
• Rents collected by a licensee managing property must be: . Answer:
Deposited within 48 hours of receipt.
GUIDE WITH PRACTICE SOLUTION AND
GRADED A PLUS ANSWERS 2026
• Trust funds received by the real estate agent in a real estate transaction
must be deposited: . Answer: Within 24 hours of receipt if cash, within
36 hours of receipt if cash or check, or within 48 hours of acceptance of
the offer if check.
• A Broker-in-Charge wanting to open a branch office: . Answer: Must
also be the Broker-in-Charge of the branch office or may select a sales
associate to be the Broker-in-Charge for up to six months.
• Written copies of all records must be maintained for: . Answer: Three
years.
• Cases of License Law violation are appealed to: . Answer: An
administrative law judge.
• Members of the South Carolina Real Estate Commission include: .
Answer: One at-large member appointed by the Governor, two members
of the public appointed by the other members, and eight members who
are in the real estate business.
• Rents collected by a licensee managing property must be: . Answer:
Deposited within 48 hours of receipt.
