I understand there are a list of required functions to deploy in an ERC-20 or BEP-20 token, but do I need buy and sell functions in my code or do I just need the transfer function? I am assuming that the buyers will buy from my wallet as the owner of the total supply. However, people would be buying from an exchange, so does the exchange have liquidity pool providers buy a bunch of tokens from me at first in an IEO? Thanks!

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This completely depends on how you want to distribute your token.

Often this is separated between different components. E.g. you deploy your token and mint the initial supply to and distributor address. This distributor could be a contract that is used for an ICO, by selling the token for a specific price. Another way would be to use a MultiSig wallet, such as the Safe and sell the token via a platform like Gnosis Auction. Additionally you can distribute tokens by performing airdrops (e.g. a MerkleDrop).

Often many of these are combined to archive the best result. An example for this can be seen in an early proposal for a SAFE token on the Gnosis Forum.

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