GEORGIA REAL ESTATE EXAM REVIEW QUESTIONS AND ANSWERS, GRADED A+/ VERIFIED.| latest update 2024/25|

GEORGIA REAL ESTATE EXAM REVIEW QUESTIONS AND ANSWERS, GRADED A+/ VERIFIED. Accrued interest on loan assumed. - -Which of the following costs is usually a credit on the estimated purchaser's cost worksheet? Hazard insurance is - -prepaid in advance negotiable between the buyer and seller - -The payment of the intangibles taxes are: If neither Baird or Carr are licensed as brokers, a qualifying broker must be hired and must be named as an officer of the corporation - -Licensees Baird and Carr decide to form a corporation for the purpose of providing real estate brokerage services. Which of the following statements is correct concerning this situation? an advertising fee. - -Persons are exempt from the license requirement when they contract primarily to promote the sale of real estate through listings in a publication issued for that purpose and their compensation is only in the form of The new broker agrees in writing to assume responsibility for the licensee's actions - -A licensee transferring to a new broker may continue to act as a licensee for the former broker with regard to transactions begun prior to the transfer. Which of the following statements is incorrect concening this situation? Complete a CMA or BPO for a seller or buyer. - -In Georgia, a person holding only a real estate license could legally do which of the following? appoint the Real Estate Commissioner - -The Georgia Real Estate Commission is authorized to Which of the following is NOT true about the Real Estate Commissioner? - -He or she is a part-time employee of the Commission. set real estate commission rates charged by licensed brokers. - -The Georgia Real Estate Commission is NOT authorized to: Six members each of whom is appointed by the governor and confirmed by the senate for a term of five years. - -The Georgia Real Estate Commission is composed of marital status. - -When showing a buyer residential properties, a licensee could take into consideration the buyer's $30 per year, to be paid upon renewal of license - -To insure that a minimum balance of $1 million is maintained in the real estate education, research, and recovery fund the Commission, in addition to the license fees, may assess each licensee an amount not to exceed: $25,000 - -The liability of the Education, Research and Recovery Fund is terminated upon the issuance of court orders authorizing payments in what amount in any single transaction, regardless of the number of people aggrieved? have the property levied upon, sold, and file a claim against the Real Estate Education Research, and Recovery Fund for the balance remaining to satisfy the judgment - -A buyer sued a real estate salesperson for fraud in a real estate transaction and received a judgment in the amount of $15,000. The salesperson owns a cabin in Gcorgia valued at $10,000, free and clear. For the buyer to file a claim against the Real Estate Education, Research, and Recovery Fund he must $75,000 - -The liability of the Real Estate Education, Research, and Recovery Fund for the acts of a licensee is terminated upon the payments from the fund in aggregate amounts of both the name of the bank and the number or name of the ac