SC Property Management Exam UPDATED
ACTUAL Exam Questions and CORRECT
Answers
Residential Landlord and Tenant Act - CORRECT ANSWER - Created in 1986
Residential Landlord and Tenant Act - Purpose - CORRECT ANSWER - Simplify, clarify,
modernize, and revise the law governing rental of dwelling units and the rights, obligations of
landlords and tenants. To encourage landlords and tenants to maintain and improve the quality of
housing.
Administration Remedy - CORRECT ANSWER - Any right or obligation declared is
enforceable by action unless the provision declaring it specifies a different and limited effect.
Settlement of disputed claim or right - CORRECT ANSWER - A claim or right arising on
a rental agreement, if disputed in good faith, may be settled by agreement.
Action - CORRECT ANSWER - Include recoupment, counterclaim, set-off, suit in equity,
and any other proceeding in which rights are determined, including an action for possession.
Building and Housing Codes - Enforcement - CORRECT ANSWER - Any law, ordinance,
or governmental regulation concerning fitness for habitation, or the construction, maintenance,
operation, occupancy, use, or appearance of any premise or dwelling unit.
Dwelling Unit - CORRECT ANSWER - A structure or the part of a structure that is used
as a home, residence, or sleeping place by one person who maintains a household or by two or
more persons who maintain a common household and includes landlord-owned mobile homes.
Property that is leased for the exclusive purpose of being renovated by the lessee (tenant) is not
considered a dwelling unit within the meaning. Lessor (owner)
Fair-Market Rental Value - Collusion - CORRECT ANSWER - The actual periodic rental
payment for comparable rental property to which a willing landlord and a willing tenant would
, agree. In determining the fair-market rental value the court may consider appraisals offer by the
tenant, landlord, realty experts, licensed appraisers and other relevant evidence.
Good Faith - CORRECT ANSWER - Honesty in fact in the conduct of the transaction
concerned
Landlord - CORRECT ANSWER - The owner, lessor, or sublessor of the premises and
also means manager of the premises who fails to disclose
Organization - CORRECT ANSWER - Includes a corporation, government, governmental
subdivision or agency, business trust, estate, trust, partnership or association, two or more
persons having a joint or common interest, and any other legal or commercial entity
Owner - CORRECT ANSWER - Means one or more persons, jointly or severally, in
whom is vested in all or part of the legal title to property or all or part of the beneficial ownership
and a right to present use and enjoyment of the premises. The term includes a mortgagee (lender)
in possession.
Mortgagee - CORRECT ANSWER - A lender in a mortgage loan transaction.
Mortgager - CORRECT ANSWER - an owner who gives a security interest in property in
order to obtain a loan
Person - CORRECT ANSWER - Includes an individual or organization
Premises - Property "Appliances" - CORRECT ANSWER - Means a dwelling unit and the
structure of which it is a part and facilities and appurtenances therein and grounds, areas,
facilities held out for the use of tenants generally or whose use is promised to the tenant.
Rent - CORRECT ANSWER - The consideration payable for use of the premises
including late charges whether payable in lump sum or periodic payments, excluding security
deposits or other charges
ACTUAL Exam Questions and CORRECT
Answers
Residential Landlord and Tenant Act - CORRECT ANSWER - Created in 1986
Residential Landlord and Tenant Act - Purpose - CORRECT ANSWER - Simplify, clarify,
modernize, and revise the law governing rental of dwelling units and the rights, obligations of
landlords and tenants. To encourage landlords and tenants to maintain and improve the quality of
housing.
Administration Remedy - CORRECT ANSWER - Any right or obligation declared is
enforceable by action unless the provision declaring it specifies a different and limited effect.
Settlement of disputed claim or right - CORRECT ANSWER - A claim or right arising on
a rental agreement, if disputed in good faith, may be settled by agreement.
Action - CORRECT ANSWER - Include recoupment, counterclaim, set-off, suit in equity,
and any other proceeding in which rights are determined, including an action for possession.
Building and Housing Codes - Enforcement - CORRECT ANSWER - Any law, ordinance,
or governmental regulation concerning fitness for habitation, or the construction, maintenance,
operation, occupancy, use, or appearance of any premise or dwelling unit.
Dwelling Unit - CORRECT ANSWER - A structure or the part of a structure that is used
as a home, residence, or sleeping place by one person who maintains a household or by two or
more persons who maintain a common household and includes landlord-owned mobile homes.
Property that is leased for the exclusive purpose of being renovated by the lessee (tenant) is not
considered a dwelling unit within the meaning. Lessor (owner)
Fair-Market Rental Value - Collusion - CORRECT ANSWER - The actual periodic rental
payment for comparable rental property to which a willing landlord and a willing tenant would
, agree. In determining the fair-market rental value the court may consider appraisals offer by the
tenant, landlord, realty experts, licensed appraisers and other relevant evidence.
Good Faith - CORRECT ANSWER - Honesty in fact in the conduct of the transaction
concerned
Landlord - CORRECT ANSWER - The owner, lessor, or sublessor of the premises and
also means manager of the premises who fails to disclose
Organization - CORRECT ANSWER - Includes a corporation, government, governmental
subdivision or agency, business trust, estate, trust, partnership or association, two or more
persons having a joint or common interest, and any other legal or commercial entity
Owner - CORRECT ANSWER - Means one or more persons, jointly or severally, in
whom is vested in all or part of the legal title to property or all or part of the beneficial ownership
and a right to present use and enjoyment of the premises. The term includes a mortgagee (lender)
in possession.
Mortgagee - CORRECT ANSWER - A lender in a mortgage loan transaction.
Mortgager - CORRECT ANSWER - an owner who gives a security interest in property in
order to obtain a loan
Person - CORRECT ANSWER - Includes an individual or organization
Premises - Property "Appliances" - CORRECT ANSWER - Means a dwelling unit and the
structure of which it is a part and facilities and appurtenances therein and grounds, areas,
facilities held out for the use of tenants generally or whose use is promised to the tenant.
Rent - CORRECT ANSWER - The consideration payable for use of the premises
including late charges whether payable in lump sum or periodic payments, excluding security
deposits or other charges
