Georgia Real Estate U Final Exam Study with
question and answer 100% correct C
Terms in this set (476)
What is a lien theory state? The homeowner holds the deed for the property throughout
the entire loan.
There is a mixed-use property for sale in Yes, because mixed-use is a combination of commercial and
Cassie's community, and a buyer walks into residential real estate
her office looking for a residential space.
Should Cassie consider showing him the
property zoned mixed-use?
An investor who bought a rental house Property manager
needs someone to take care of the
property, screen prospective renters,
coordinate repairs, handle maintenance
and tenant concerns, and evictions, if
necessary. He's looking for a...?
In economics, supply is...? The quantity of goods or services available, whether in
abundance or scarcity.
,In economics, demand is...? The supply of willing and able consumers, which can be few
or numerous.
When the supply is limited and demand is Prices escalate
high...?
To become a real estate broker, a person Experience as an agent, a broker's license, and additional
must have...? education.
Real estate brokers are paid a commission The commission, which can vary, is split between the broker
for the sales, and...? and agent.
Property types are generally categorized Zoning Law
by the.....that applies to that property.
A family is going to build their dream home, An Architect
and they've looked at several house plans,
but they haven't found one that is
exactly
right. They'd like to take some parts from
one plan and combine it with parts from
another, with some additional innovations
of their own. They want someone who
can design and plan their home and
work with the contractors to build it. The
person they need to find is ...?
Single family homes are...? Private freestanding residential houses
The effect of the first-time homebuyer's tax Motivate people to buy homes
credit was to...?
Real estate agents work with...? Buyers and Sellers
When supply is plentiful and demand is Prices drop
low...?
Sam is looking for a warehouse, and he A agent that specializes in industrial property
wants to find a real estate agent or broker
who is knowledgeable in this area. He's
starting a business, and it will require space
for assembly and production, but he also
needs to be able to use it for
distribution, warehousing, and research
and
development. He needs to find...?
Single-family homes and single-family lots Residential Property
are always considered...?
Fill in the blank..............represent both the Dual Agents
buyer and seller or both the tenant and
landlord in the same transaction.
,If you serve in the army reserve and are 5 points are added in each of Information Gathering and
studying to be a broker, you effectively get Decision Making sections.
10 points added to your score. Which of
the following is true?
If the Commission denies your application You have the right to a hearing for a final determination.
based on a conviction or disciplinary action,
what rights do you have?
Every salesperson has to provide the 25 hours
Commission with evidence that they
completed a...........post-license course
within one year of obtaining their license.
Hans Rosenstein moved from Florida, where No
he was a sales agent, to Georgia. Hans
completed his post-license course in
Florida, a state considered similar to
Georgia in terms of real estate law. Does
Hans have to take the post-license course in
Georgia?
Jolie Harper is a licensed real estate Inactive her license
agent in a Georgia brokerage. She is
offered a job selling condos for the
unlicensed owner-developer. Jolie must
..................................................and will have
to
reapply if she decides to practice as a
salesperson under a brokerage again.
Any lapse longer than two years and under For appraisers, they must take the Salespersons Prelicense
five years can be reinstated by paying back Course.
fees and taking the appropriate class.
Which of the following is not a valid
answer?
Prince Stover moves his Athens 30
brokerage to a location with more foot
traffic. He must notify the Commission
within...................................................days of
his new address.
...........is required prior to advertising Written permission to advertise
property for rent, sale, lease or exchange.
If a licensee makes an offer on a property as Written agreement
part of a brokerage engagement or an
extension of an engagement, the terms and
conditions of the engagement must be set
down in a...?
, Fill in the appropriate amounts. The $45 (Dollars) / $75 (Dollars)
activation fee to apply for a license as an
individual or associate broker, salesperson,
or community association manager is .............
The activation fee for a new firm, school or
instructor is..........Both fees include $20
toward the Real Estate Education,
Research and Recovery Fund.
Kit Benning is a sales agent who decides to This meets the requirement of the rule.
buy a property currently listed for her
clients, the Winstons. Kit finds a home that
the Winstons wish to purchase. While
drawing up the sales contracts, she makes
her purchase of the Winstons home
contingent on their extending the brokerage
engagement by 60 days to allow time
for the closings. Which of the following is
true?
A licensee cannot falsify a record, or The actual real lease, sales, or exchange price
knowingly allow a record to be
falsified, either orally or in writing, by a
third party.
This rule covers the following
misinformation, EXCEPT:
When representing the seller, a licensee Any signed offer
is obligated to present....to procure a
property for sale.
A broker should keep copies of 3 years
documents and records for...?
If a broker wants to open a brokerage under Fictious name
a fictitious name, the brokerage license must
be under the...?
Every broker has to maintain an accounting The name of the broker's lawyer.
system to include the following information,
EXCEPT:
...........involve licensees with property Management Agreements
management relationships with their clients.
Any written property management
agreement must identify the property being
managed and list the terms and conditions
of the manager's responsibilities.
question and answer 100% correct C
Terms in this set (476)
What is a lien theory state? The homeowner holds the deed for the property throughout
the entire loan.
There is a mixed-use property for sale in Yes, because mixed-use is a combination of commercial and
Cassie's community, and a buyer walks into residential real estate
her office looking for a residential space.
Should Cassie consider showing him the
property zoned mixed-use?
An investor who bought a rental house Property manager
needs someone to take care of the
property, screen prospective renters,
coordinate repairs, handle maintenance
and tenant concerns, and evictions, if
necessary. He's looking for a...?
In economics, supply is...? The quantity of goods or services available, whether in
abundance or scarcity.
,In economics, demand is...? The supply of willing and able consumers, which can be few
or numerous.
When the supply is limited and demand is Prices escalate
high...?
To become a real estate broker, a person Experience as an agent, a broker's license, and additional
must have...? education.
Real estate brokers are paid a commission The commission, which can vary, is split between the broker
for the sales, and...? and agent.
Property types are generally categorized Zoning Law
by the.....that applies to that property.
A family is going to build their dream home, An Architect
and they've looked at several house plans,
but they haven't found one that is
exactly
right. They'd like to take some parts from
one plan and combine it with parts from
another, with some additional innovations
of their own. They want someone who
can design and plan their home and
work with the contractors to build it. The
person they need to find is ...?
Single family homes are...? Private freestanding residential houses
The effect of the first-time homebuyer's tax Motivate people to buy homes
credit was to...?
Real estate agents work with...? Buyers and Sellers
When supply is plentiful and demand is Prices drop
low...?
Sam is looking for a warehouse, and he A agent that specializes in industrial property
wants to find a real estate agent or broker
who is knowledgeable in this area. He's
starting a business, and it will require space
for assembly and production, but he also
needs to be able to use it for
distribution, warehousing, and research
and
development. He needs to find...?
Single-family homes and single-family lots Residential Property
are always considered...?
Fill in the blank..............represent both the Dual Agents
buyer and seller or both the tenant and
landlord in the same transaction.
,If you serve in the army reserve and are 5 points are added in each of Information Gathering and
studying to be a broker, you effectively get Decision Making sections.
10 points added to your score. Which of
the following is true?
If the Commission denies your application You have the right to a hearing for a final determination.
based on a conviction or disciplinary action,
what rights do you have?
Every salesperson has to provide the 25 hours
Commission with evidence that they
completed a...........post-license course
within one year of obtaining their license.
Hans Rosenstein moved from Florida, where No
he was a sales agent, to Georgia. Hans
completed his post-license course in
Florida, a state considered similar to
Georgia in terms of real estate law. Does
Hans have to take the post-license course in
Georgia?
Jolie Harper is a licensed real estate Inactive her license
agent in a Georgia brokerage. She is
offered a job selling condos for the
unlicensed owner-developer. Jolie must
..................................................and will have
to
reapply if she decides to practice as a
salesperson under a brokerage again.
Any lapse longer than two years and under For appraisers, they must take the Salespersons Prelicense
five years can be reinstated by paying back Course.
fees and taking the appropriate class.
Which of the following is not a valid
answer?
Prince Stover moves his Athens 30
brokerage to a location with more foot
traffic. He must notify the Commission
within...................................................days of
his new address.
...........is required prior to advertising Written permission to advertise
property for rent, sale, lease or exchange.
If a licensee makes an offer on a property as Written agreement
part of a brokerage engagement or an
extension of an engagement, the terms and
conditions of the engagement must be set
down in a...?
, Fill in the appropriate amounts. The $45 (Dollars) / $75 (Dollars)
activation fee to apply for a license as an
individual or associate broker, salesperson,
or community association manager is .............
The activation fee for a new firm, school or
instructor is..........Both fees include $20
toward the Real Estate Education,
Research and Recovery Fund.
Kit Benning is a sales agent who decides to This meets the requirement of the rule.
buy a property currently listed for her
clients, the Winstons. Kit finds a home that
the Winstons wish to purchase. While
drawing up the sales contracts, she makes
her purchase of the Winstons home
contingent on their extending the brokerage
engagement by 60 days to allow time
for the closings. Which of the following is
true?
A licensee cannot falsify a record, or The actual real lease, sales, or exchange price
knowingly allow a record to be
falsified, either orally or in writing, by a
third party.
This rule covers the following
misinformation, EXCEPT:
When representing the seller, a licensee Any signed offer
is obligated to present....to procure a
property for sale.
A broker should keep copies of 3 years
documents and records for...?
If a broker wants to open a brokerage under Fictious name
a fictitious name, the brokerage license must
be under the...?
Every broker has to maintain an accounting The name of the broker's lawyer.
system to include the following information,
EXCEPT:
...........involve licensees with property Management Agreements
management relationships with their clients.
Any written property management
agreement must identify the property being
managed and list the terms and conditions
of the manager's responsibilities.
