South Carolina Property Management Exam
Mastery Guide 2026 | LATEST UPDATE with 100%
CORRECT ANSWERS, CORRECT RATIONALES & +A
Graded
4 Steps of Business Cycle - answ✔️💜💜✔️-1. Expansion
2. Recession
3. Contraction
4. Revival
assignment - answ✔️💜💜✔️-Transfer of tenant's rental rights to a 3rd party
Dun & Bradstreet Inc. - answ✔️💜💜✔️-Credit reporting agency reporting businesses ratings
cooperative - answ✔️💜💜✔️-Multi-Family residential building where title is held by each occupant
who possess the right to occupy a certain unit.
expansion - answ✔️💜💜✔️-Phase of business cycle where production increases
Formaldehyde - answ✔️💜💜✔️-Colorless, organic chemical with a strong odor that can contribute to
"Sick Building Syndrome"
Key Tenant - answ✔️💜💜✔️-Major department store in shopping center.
,market analysis - answ✔️💜💜✔️-Regional & neighborhood economic study to determine market
trends.
What are the protected classes? - answ✔️💜💜✔️-Race, Color, National Origin, Religion, Familial
Status, Sex, Handicap
Who protects the protected classes through legislation? - answ✔️💜💜✔️-HUD
Revival - answ✔️💜💜✔️-lowest part of the business cycle (Nadir)
Section 8 - answ✔️💜💜✔️-Federal subsidized housing program administered by HUD. Tenant pays
30% of adjusted monthly income and HUD pays the difference.
Section 202 - answ✔️💜💜✔️-Federal subsidized housing program that provides capital for new
construction on low-income or rehab properties for the elderly.
Office Property - answ✔️💜💜✔️-Income-producing property where services are rendered.
Net lease (net-net) - answ✔️💜💜✔️-Tenant pays rent + taxes, assessments and insurance
Leasing Agent - answ✔️💜💜✔️-sales people skilled in marketing, communicating, and closing sales of
themselves and properties
Statute of Frauds - answ✔️💜💜✔️-state law that requires certain instructions to be in writing before
legally enforceable.
principal - answ✔️💜💜✔️-either an individual who designates another as their agent or the original
amount of a loan
, Management Plan - answ✔️💜💜✔️-Financial & operational strategy for management of a property.
Based on Market & Property Analyses and Owner's Goals
Insurable Interest - answ✔️💜💜✔️-insurance term for an ECONOMIC INTEREST that has suffered a
loss
index lease - answ✔️💜💜✔️-A lease containing an escalation clause that is tied to a certain index.
equity - answ✔️💜💜✔️-an owners "interest" in a property over any liens
Condominium - answ✔️💜💜✔️-Multi-unit building where occupants own their unit and share
common areas
Comparables - answ✔️💜💜✔️-Properties similar to your own in the Market
Commercial Property - answ✔️💜💜✔️-Income-producing property; public accomodation
Cash Flow - answ✔️💜💜✔️-Net operating income -
Debt service -
Operating expense
blockbusting - answ✔️💜💜✔️-"panic selling" encouraging consumers to move out by saying a certain
"protected class" is moving to the area
Equal Housing Logo - answ✔️💜💜✔️-must be displayed at property and in advertisements
Employer - answ✔️💜💜✔️-Individual or company who pays people to work for them. Are classified by
# of employees, working conditions, and wages paid
Duplex - answ✔️💜💜✔️-2 unit apartment building
Mastery Guide 2026 | LATEST UPDATE with 100%
CORRECT ANSWERS, CORRECT RATIONALES & +A
Graded
4 Steps of Business Cycle - answ✔️💜💜✔️-1. Expansion
2. Recession
3. Contraction
4. Revival
assignment - answ✔️💜💜✔️-Transfer of tenant's rental rights to a 3rd party
Dun & Bradstreet Inc. - answ✔️💜💜✔️-Credit reporting agency reporting businesses ratings
cooperative - answ✔️💜💜✔️-Multi-Family residential building where title is held by each occupant
who possess the right to occupy a certain unit.
expansion - answ✔️💜💜✔️-Phase of business cycle where production increases
Formaldehyde - answ✔️💜💜✔️-Colorless, organic chemical with a strong odor that can contribute to
"Sick Building Syndrome"
Key Tenant - answ✔️💜💜✔️-Major department store in shopping center.
,market analysis - answ✔️💜💜✔️-Regional & neighborhood economic study to determine market
trends.
What are the protected classes? - answ✔️💜💜✔️-Race, Color, National Origin, Religion, Familial
Status, Sex, Handicap
Who protects the protected classes through legislation? - answ✔️💜💜✔️-HUD
Revival - answ✔️💜💜✔️-lowest part of the business cycle (Nadir)
Section 8 - answ✔️💜💜✔️-Federal subsidized housing program administered by HUD. Tenant pays
30% of adjusted monthly income and HUD pays the difference.
Section 202 - answ✔️💜💜✔️-Federal subsidized housing program that provides capital for new
construction on low-income or rehab properties for the elderly.
Office Property - answ✔️💜💜✔️-Income-producing property where services are rendered.
Net lease (net-net) - answ✔️💜💜✔️-Tenant pays rent + taxes, assessments and insurance
Leasing Agent - answ✔️💜💜✔️-sales people skilled in marketing, communicating, and closing sales of
themselves and properties
Statute of Frauds - answ✔️💜💜✔️-state law that requires certain instructions to be in writing before
legally enforceable.
principal - answ✔️💜💜✔️-either an individual who designates another as their agent or the original
amount of a loan
, Management Plan - answ✔️💜💜✔️-Financial & operational strategy for management of a property.
Based on Market & Property Analyses and Owner's Goals
Insurable Interest - answ✔️💜💜✔️-insurance term for an ECONOMIC INTEREST that has suffered a
loss
index lease - answ✔️💜💜✔️-A lease containing an escalation clause that is tied to a certain index.
equity - answ✔️💜💜✔️-an owners "interest" in a property over any liens
Condominium - answ✔️💜💜✔️-Multi-unit building where occupants own their unit and share
common areas
Comparables - answ✔️💜💜✔️-Properties similar to your own in the Market
Commercial Property - answ✔️💜💜✔️-Income-producing property; public accomodation
Cash Flow - answ✔️💜💜✔️-Net operating income -
Debt service -
Operating expense
blockbusting - answ✔️💜💜✔️-"panic selling" encouraging consumers to move out by saying a certain
"protected class" is moving to the area
Equal Housing Logo - answ✔️💜💜✔️-must be displayed at property and in advertisements
Employer - answ✔️💜💜✔️-Individual or company who pays people to work for them. Are classified by
# of employees, working conditions, and wages paid
Duplex - answ✔️💜💜✔️-2 unit apartment building
