SC Real Estate PSI Exam Review Questions and Answers Updated 2026

SC Real Estate PSI
Exam Review Questions
and Answers Updated
2026
AgentBAKABProxyB-
BAnswerBOneBengagedBtoBrespresentBandBbeBunderBtheBcontrolBofBaBprincipal



PrincipalBAKABClientB-
BAnswerBOneBwhoBcontractsBwithBanotherBforBrepresenation,BadviseBandBcouselBinBle
galBorBbusinessBdealingsBwithBthirdBparties.



ThirdBPartyBAKABcustomerB-
BAnswerBTheBperson(s)BtheBagentBisBtryingBtoBdoBbusinesBwithBwhileBrepresentingBth
eBclient



CommonBLawB-BAnswerBCreatedBbyBjudges



StatuesB-BAnswerBwrittenBStateBorBFederalBlaws



TypesBofBagentsB-
BAnswerBUniversalB,BSpecial,BGeneral,BSubagent,BDualBAgentBandBDesignatedBagent



DesignatedBAgentB-
BAnswerBBICBdesignatesBaBlicenseeBtoBsellerBandBanotherBlicenseeBtoBtheBbuyerB-
BBICBcanBneverBdesignateBthemselves



UniversalBAgentB-
BAnswerBCanBdoBALLBtheBactsBaBprincipalBcanBdo;BcreatedBbyBaBpowerBofBattorney

,SpecialBAgentB-BAnswerBHiredBbyBprincipalBforBaBspecificBserviceB-BlimitedBauthorityB-
BdoesBNOTBhaveBcontinuousBservice



GeneralBAgentB-
BAnswerBHiredBforBcontinuousBserviceBandBhasBbroadBauthority.B(UsuallyBaBPMBbutBi
fBtheyBareBonlyBtoBfindBaBtenantBandBgetBaBleasedBsignBthenBtheyBareBaBSpecialBAg
ent).



DualBAgentB-
BAnswerBRealBestateBfirmBrepresentingBtheBbuyerBclientBandBsellerBclientBinBtheBsam
eBrealBestateBtransation



PowerBofBAttorneyB-
BAnswerBABpieceBofBpaperBauthorizingBoneBpersonBtoBactBforBanotherBperson



SubagentB-BAnswerBAnBagentBofBanBagent.BTwoBtypes:BInhouseBandBcooperative.



CooperativeBSubagentB-
BAnswerBWhenBaBcompantBsellsBanotherBcompany'sBlistingBtoBaBbuyerBcustomer,Bthe
BsellingBcompanyBisBaBsubagentBofBtheBlistingBcompany.



TypesBofBagenciesB-BAnswerBExpressBandBImplied



ExpressBAgencyB-BAnswerBTermsBthatBareBexpressedBinBwriting.



ImpliedBAgencyB-BAnswerBTermsBthatBareBexpressedBinBactsBofBtheBparties.



SCBrequiresBagencyBcontractsBtoBbe...B-BAnswerBWritten



ListingsB-BAnswerBContractsBbetweenBsellerBandBtheBbroker

, BuyerBRepresentationB-BAnswerBContractsBbetweenBtheBbuyerBandBtheBbroker



PropertyBManagementBAgreementB-
BAnswerBConteactsBbetweenBtheBpropertyBownerBandBtheBPM



AgencyBContractsBmayBbeBterminatedBbyBeither...B-
BAnswerBoperationBifBtheBlawBORBactsBofBtheBparties



ABcontractBterminatedBbyBoperationBofBtheBlawB-
BAnswerBDeathBorBincapcityBofBprincipal/client/agent,BdestructionBofBsubjestBmatter,Bl
ossBofBtitleBthroughBforeclosure/taxBsale,Bperformance,BbankrupcyBofBprincipal/client/a
gent,BorBchangeBofBlawBthatBmakesBperformanceBimpossible.



ABcontractBterminatedBbyBActsBofBPartiesB-
BAnswerBMutualBagreement,BbreachBofBcontract,



ExclusiveBrightBtoBsellB(sellerBagency)B-
BAnswerBListingBbrokerageBgetsBpaidBifBpropertyBisBsoldBbyBanyoneB(mostBcommon)



ExclusiveBagencyB(sellerBagency)B-
BAnswerBListingBbrokersageBdoesBNOTBgetBpaidBifBownerBsellsBproperty



OpenBListingB(sellerBagency)B-
BAnswerBCouldBhaveBmanyBlistingBbrokerages;BonlyBtheBcomnpanyBthatBsellsBitBgetsB
paidB(rarelyBused)



BrokerBprotectionBclauseBAKABSafetyBClauseBinBlistingsB-
BAnswerBMakesBtheBsellerBobligatedBtoBpayBtheBcommissionBifBtheBpropertyBisBsoldB
toBaBregisteredBbuyerBafterBtheBlistingBexpires.BProtectionBvoidedBifBsellerBdoesn'tBbe
comeBaBFSBOBandBlistsBwithBanotherBbroker.BSigningBanotherBlistingBagreementBwith
BanotherBbrokerBwillBvoidBthis.