SC Property Management License Exam – Complete Study Guide & Practice Questions 1 2026-02-28
SC Property Management
License Exam – Complete
Study Guide & Practice
Questions
Page 1
Guidehttps://www.stuvia.com/dashboard!@_)#*)(@$)($@*($@)($@*_ SC Property Management License Exam – Complete Study Guide & Practice Questions.pdf
,SC Property Management License Exam 2 2026-02-28
PM & PMIC licenses need to renewed biennially
June 30th (end of state's fiscal year)
Conversion
to use trust funds for the purpose other than the purpose of which they are held. Unlawful use of
funds.
Customer
a buyer, seller, landlord or tenant who uses the services of a real estate licensee but does not
establish an agency relationship through a written agency agreement with the licensee's real estate
brokerage firm
The South Carolina Real Estate Commission has the power to:
fine, suspend and revoke licenses
Page 2 SC Property Management License Exam.pdf
,SC Property Management License Exam 3 2026-02-28
A real estate licensee must:
agree to refrain from discriminatory practices
The SC Real Estate Commission
is authorized to implement and enforce the license law
A real estate BIC or PMIC
must maintain a place of business
Office
the office location where a BIC or a PMIC is licensed to conduct real estate business
Page 3 SC Property Management License Exam.pdf
, SC Property Management License Exam 4 2026-02-28
Property Manager
An associated licensee who meets educational requirements and passes the examination for a PM
license and who will, for a fee, salary, commission will negotiate or attempt to negotiate, list or offers
to list and advertise or represent.
PMIC
a PM who is designated as having the responsibility over the actions of associated licensees and the
responsibility and control over and liability for real estate trust accounts
The Real Estate Commission may
fine licensed violators a min of $500 & a max of $5,000 per violation
The main purpose of a trust account is to
safeguard funds belonging to the tenant
Page 4 SC Property Management License Exam.pdf
SC Property Management
License Exam – Complete
Study Guide & Practice
Questions
Page 1
Guidehttps://www.stuvia.com/dashboard!@_)#*)(@$)($@*($@)($@*_ SC Property Management License Exam – Complete Study Guide & Practice Questions.pdf
,SC Property Management License Exam 2 2026-02-28
PM & PMIC licenses need to renewed biennially
June 30th (end of state's fiscal year)
Conversion
to use trust funds for the purpose other than the purpose of which they are held. Unlawful use of
funds.
Customer
a buyer, seller, landlord or tenant who uses the services of a real estate licensee but does not
establish an agency relationship through a written agency agreement with the licensee's real estate
brokerage firm
The South Carolina Real Estate Commission has the power to:
fine, suspend and revoke licenses
Page 2 SC Property Management License Exam.pdf
,SC Property Management License Exam 3 2026-02-28
A real estate licensee must:
agree to refrain from discriminatory practices
The SC Real Estate Commission
is authorized to implement and enforce the license law
A real estate BIC or PMIC
must maintain a place of business
Office
the office location where a BIC or a PMIC is licensed to conduct real estate business
Page 3 SC Property Management License Exam.pdf
, SC Property Management License Exam 4 2026-02-28
Property Manager
An associated licensee who meets educational requirements and passes the examination for a PM
license and who will, for a fee, salary, commission will negotiate or attempt to negotiate, list or offers
to list and advertise or represent.
PMIC
a PM who is designated as having the responsibility over the actions of associated licensees and the
responsibility and control over and liability for real estate trust accounts
The Real Estate Commission may
fine licensed violators a min of $500 & a max of $5,000 per violation
The main purpose of a trust account is to
safeguard funds belonging to the tenant
Page 4 SC Property Management License Exam.pdf
