Yield Review | Graded A+
1. Describe the role of the Georgia Real Estate Commission in relation to real
estate licensees.
The Georgia Real Estate Commission issues licenses without
examination.
The Georgia Real Estate Commission oversees all real estate
transactions in Georgia.
The Georgia Real Estate Commission is responsible for making and
enforcing rules that govern the conduct of real estate licensees.
The Georgia Real Estate Commission regulates property taxes in
Georgia.
2. If a new real estate corporation opens multiple offices in Georgia, what must
they ensure regarding their business licenses?
They need a business license only for the main office.
They only need one business license for all locations.
They must obtain a separate business license for each location.
They can operate without a business license if they have a broker
license.
3. If a buyer decides to withdraw from a contract after the acceptance period
but before closing, what should the broker do with the earnest money?
Keep the earnest money until the seller decides.
Immediately return the earnest money to the buyer.
Disburse the earnest money to the broker's account.
, Consult the contract terms and possibly negotiate with the seller for
disbursal.
4. Which of the following is a license law violation?
A broker paying a referral fee to a broker in another country
The broker paying a referral fee to a broker in another state.
A broker paying a commission to a broker in another state not
licensed in Georgia for performing activities in Georgia.
Broker paying a commission to a licensee affiliated with a company.
5. Describe the significance of passing the written real estate exam for
obtaining a community association manager's license in Georgia.
The exam is only relevant for brokers, not community association
managers.
Passing the written real estate exam demonstrates the applicant's
knowledge of real estate laws and practices necessary for effective
management.
The exam is only a formality and does not require a passing score.
Passing the exam is optional and does not affect the licensing
process.
6. Describe why paying a commission to an unlicensed individual for activities in
Georgia is a violation of real estate laws.
Only brokers can pay commissions; salespersons cannot.
Commissions can be paid to anyone as long as they are disclosed to
the client.
Paying a commission to an unlicensed individual for activities in
Georgia violates real estate laws because only licensed individuals
, are authorized to receive compensation for real estate transactions
in the state.
Paying commissions is allowed as long as the transaction is
documented.
7. Which of the following is required to become a licensed real estate
salesperson in Georgia?
Successful completion of 75 hours of study, take and pass a state-
administered exam
Successful completion of 25 hours of study, take and pass a state-
administered exam
Successful completion of 60 hours of study, take and pass a state-
administered exam
Successful completion of 30 hours of study, take and pass a state-
administered exam
8. Discuss the significance of continuing education for real estate licensees in
Georgia.
Continuing education is only required for brokers.
Continuing education only focuses on sales techniques.
Continuing education ensures that licensees stay updated on laws
and practices in real estate.
Continuing education is optional for licensees.
9. If a qualifying broker dies and there is no immediate replacement, what
should the remaining partners do to ensure compliance with real estate laws?
They should continue business as usual without any changes.
They should allow a salesperson to take over all responsibilities.
, They should dissolve the firm immediately.
They should appoint an interim qualifying broker to manage the
firm's operations and trust funds.
10. If a candidate has lived in Georgia for only two years, what would be their
eligibility status for appointment as a commission member?
Eligible with conditions
Eligible for appointment
Pending further review
Ineligible for appointment
11. If a landlord includes a clause in a lease that allows for eviction without
notice, what potential legal issue could arise in Georgia?
The lease could be deemed unenforceable due to violation of
tenant protection laws.
The tenant would have to pay additional fees for the eviction process.
The lease would automatically renew without tenant consent.
The landlord may be able to evict the tenant without any
consequences.
12. In Georgia, which of the following brokerage engagements must be in
writhing?
Only buyer's brokerage engagements.
Only engagements for longer than 90 days.
All exclusive brokerage engagements.
Only seller's brokerage engagements.