SC Property Management License
- Quiz_________________?
ANSWER✅
A BIC or PMIC may NOT commingle trust funds of the client with his own money, except
that he may maintain a clearly identified amount of the company's funds in the trust account
to cover bank service charges or in order to avoid the closing of the account when no
client's trust funds are on deposit.
Quiz_________________?
-
ANSWER✅
BIC & PMIC shall ensure that backup copies are maintained for computerized real estate
trust accounts. A backup copy must be maintained on a data storage medium that is stored
in a separate off-site location
Quiz_________________?
"OLD CAR": Obedience, Loyalty, Disclosure, Confidentiality, Accountability, and
Reasonable Care. This mnemonic device has a slight variation (e.g. care vs. reasonable care),
but both are helpful in recalling the fiduciary duties an agent owes his clients and broker. -
ANSWER✅
1
, Fiduciary Duties
Quiz_________________?
(1)simplify, clarify, modernize and revise the law governing rental of dwelling units and the
rights and obligations of landlords and tenants (2)to encourage landlords and tenants to
maintain and improve the quality of housing -
ANSWER✅
What are the 2 purposes the South Carolina Residential Landlord and Tenant Act
Quiz_________________?
(what property managers use) boundaries and land usage, local building codes and
regulations, transportation and utilities, economy, supply and demand, neighborhood
amenities and facilities -
ANSWER✅
Neighborhood Market Analysis
Quiz_________________?
+Building Owners and Managers Association -
ANSWER✅
BOMA
Quiz_________________?
1. Duration
2. Geographic scope
3. Uniqueness of services -
ANSWER✅
2
, Non-compete Clauses - Factors for the Court
Quiz_________________?
10 members appointed in 4 year terms -
ANSWER✅
The SC Real Estate Commission consists of how many members
Quiz_________________?
10 members elected 4 year terms (8,2,1) -
ANSWER✅
How many members of Real Estate Commission and who elects them
Quiz_________________?
1099 -
ANSWER✅
For the final quarter of the year, what is the only tax form that doesn not need to be filed
by the manager
Quiz_________________?
14 days -
ANSWER✅
If there is a material noncompliance by the landlord affecting the health and safety of the
property, landlord has how many days to remedy
3
, Quiz_________________?
16 units or more usually live on site -
ANSWER✅
Resident Managers
Quiz_________________?
18 -
ANSWER✅
PM must be how old to apply for license
Quiz_________________?
1890 law banning any trust that restrained interstate trade or commerce -
ANSWER✅
Sherman Antitrust Act
Quiz_________________?
21 -
ANSWER✅
PMIC must be how old to apply for license
Quiz_________________?
24 hours -
ANSWER✅
how much notice should landlord give tenant of his intent to enter
4
- Quiz_________________?
ANSWER✅
A BIC or PMIC may NOT commingle trust funds of the client with his own money, except
that he may maintain a clearly identified amount of the company's funds in the trust account
to cover bank service charges or in order to avoid the closing of the account when no
client's trust funds are on deposit.
Quiz_________________?
-
ANSWER✅
BIC & PMIC shall ensure that backup copies are maintained for computerized real estate
trust accounts. A backup copy must be maintained on a data storage medium that is stored
in a separate off-site location
Quiz_________________?
"OLD CAR": Obedience, Loyalty, Disclosure, Confidentiality, Accountability, and
Reasonable Care. This mnemonic device has a slight variation (e.g. care vs. reasonable care),
but both are helpful in recalling the fiduciary duties an agent owes his clients and broker. -
ANSWER✅
1
, Fiduciary Duties
Quiz_________________?
(1)simplify, clarify, modernize and revise the law governing rental of dwelling units and the
rights and obligations of landlords and tenants (2)to encourage landlords and tenants to
maintain and improve the quality of housing -
ANSWER✅
What are the 2 purposes the South Carolina Residential Landlord and Tenant Act
Quiz_________________?
(what property managers use) boundaries and land usage, local building codes and
regulations, transportation and utilities, economy, supply and demand, neighborhood
amenities and facilities -
ANSWER✅
Neighborhood Market Analysis
Quiz_________________?
+Building Owners and Managers Association -
ANSWER✅
BOMA
Quiz_________________?
1. Duration
2. Geographic scope
3. Uniqueness of services -
ANSWER✅
2
, Non-compete Clauses - Factors for the Court
Quiz_________________?
10 members appointed in 4 year terms -
ANSWER✅
The SC Real Estate Commission consists of how many members
Quiz_________________?
10 members elected 4 year terms (8,2,1) -
ANSWER✅
How many members of Real Estate Commission and who elects them
Quiz_________________?
1099 -
ANSWER✅
For the final quarter of the year, what is the only tax form that doesn not need to be filed
by the manager
Quiz_________________?
14 days -
ANSWER✅
If there is a material noncompliance by the landlord affecting the health and safety of the
property, landlord has how many days to remedy
3
, Quiz_________________?
16 units or more usually live on site -
ANSWER✅
Resident Managers
Quiz_________________?
18 -
ANSWER✅
PM must be how old to apply for license
Quiz_________________?
1890 law banning any trust that restrained interstate trade or commerce -
ANSWER✅
Sherman Antitrust Act
Quiz_________________?
21 -
ANSWER✅
PMIC must be how old to apply for license
Quiz_________________?
24 hours -
ANSWER✅
how much notice should landlord give tenant of his intent to enter
4
