GA MLS Cram Course questions and
answers
Joint Tenancy - How would an unmarried couple take ownership to real property if
they wanted full ownership immediately upon death of the other co-owner?
9% - A person bought 3 lots for $22,000 net each and divided them into four lots
of equal frontage. The lots then sold for $18,000 each. What was the approximate
percentage of gross profit?
beneficiary - In a trust, legal title to real property is transferred to a person to be
held and managed by the person for the benefit of the
cooperative - A person who purchases shares of stock in a corporation that owns a
building and receives a proprietary lease to a specific unit within the building has
purchased a
File a partition action - Several persons own property as tenants in common. One
of the owners desires to sell the property whereas the other owners prefer to
retain the property. If the parties cannot reach an agreement which action can be
taken b the owner that wants to sell
,GA MLS Cram Course questions and
answers
Daughter's heirs - A father conveyed the family home to his daughter by will as a
pur autre vie estate for the life of her mother. If the daughter should die before
the mother, who gains possession of the property?
Proprietary Lease - Under corporation ownership the lease that grants occupancy
of a specific unit to the stockholder is called a
A timeshare ownership in which the owner acquires title to a specific property for
a certain period of each year - Which of the following would best describe interval
ownership?
Purchase securities in a timeshare ownership plan - Which of the following
transactions would most likely be subject to the state's blue-sky laws?
an estate in the property - The owner of a residential condominium unit and a
tenant under a lease both have
apply to the court for an injunction - The owner in a residential subdivision gets a
building permit from the county to put a fence on his property. The fence is in
violation of the subdivision's restrictions (CC&R). An adjoining neighbor in the
,GA MLS Cram Course questions and
answers
subdivision objects to the fence. If the homeowner's association (HOA) fails to
enforce the restrictions the neighbor's best action would be to
building codes - Rules established by local governments to regulate construction
standards are called
a monetary encumbrance affecting title to the property - Which of the following
statements best describes a lien on real property?
inform the buyer that only bona fide retirement communities can legally restrict
children - Broker Dole was showing a buyer different apartments for rent in a
specific area of a city. The buyer asked Dole to find an apartment that did not
allow children as the buyer desired peace and quiet and felt that children would
destroy their privacy. Broker Dole should
Based on the information you have provided, I don't think you can afford that
property - A salesperson is showing property in a racially changing neighborhood.
Which of the following statements by the salesperson would be appropriate in
this situation?
, GA MLS Cram Course questions and
answers
A pregnant woman - Under the Federal Fair Housing Act, familial status would
apply to
designated agency - In Georgia, two licensees affiliated with the sam broker are
assigned by the broker to represent the buyer and seller respectively in the same
transaction. Under BRRETTA this would be considered
31 days - A licensee should search the National Do Not Call Registry on a regular
basis and drop registered consumer phone numbers from their call lists. This
should be done at least once every
10 business days - Under the CAN-SPAM Act opt-out request must be handled
within
Yes, the agent can call for up to 3 months after the consumer makes an inquiry - A
potential buyer attends an "open house" on a listed property and inquires about
the sales price. The interested buyer is registered on the Do-Not-Call Registry. Can
the salesperson call the interested buyer?
answers
Joint Tenancy - How would an unmarried couple take ownership to real property if
they wanted full ownership immediately upon death of the other co-owner?
9% - A person bought 3 lots for $22,000 net each and divided them into four lots
of equal frontage. The lots then sold for $18,000 each. What was the approximate
percentage of gross profit?
beneficiary - In a trust, legal title to real property is transferred to a person to be
held and managed by the person for the benefit of the
cooperative - A person who purchases shares of stock in a corporation that owns a
building and receives a proprietary lease to a specific unit within the building has
purchased a
File a partition action - Several persons own property as tenants in common. One
of the owners desires to sell the property whereas the other owners prefer to
retain the property. If the parties cannot reach an agreement which action can be
taken b the owner that wants to sell
,GA MLS Cram Course questions and
answers
Daughter's heirs - A father conveyed the family home to his daughter by will as a
pur autre vie estate for the life of her mother. If the daughter should die before
the mother, who gains possession of the property?
Proprietary Lease - Under corporation ownership the lease that grants occupancy
of a specific unit to the stockholder is called a
A timeshare ownership in which the owner acquires title to a specific property for
a certain period of each year - Which of the following would best describe interval
ownership?
Purchase securities in a timeshare ownership plan - Which of the following
transactions would most likely be subject to the state's blue-sky laws?
an estate in the property - The owner of a residential condominium unit and a
tenant under a lease both have
apply to the court for an injunction - The owner in a residential subdivision gets a
building permit from the county to put a fence on his property. The fence is in
violation of the subdivision's restrictions (CC&R). An adjoining neighbor in the
,GA MLS Cram Course questions and
answers
subdivision objects to the fence. If the homeowner's association (HOA) fails to
enforce the restrictions the neighbor's best action would be to
building codes - Rules established by local governments to regulate construction
standards are called
a monetary encumbrance affecting title to the property - Which of the following
statements best describes a lien on real property?
inform the buyer that only bona fide retirement communities can legally restrict
children - Broker Dole was showing a buyer different apartments for rent in a
specific area of a city. The buyer asked Dole to find an apartment that did not
allow children as the buyer desired peace and quiet and felt that children would
destroy their privacy. Broker Dole should
Based on the information you have provided, I don't think you can afford that
property - A salesperson is showing property in a racially changing neighborhood.
Which of the following statements by the salesperson would be appropriate in
this situation?
, GA MLS Cram Course questions and
answers
A pregnant woman - Under the Federal Fair Housing Act, familial status would
apply to
designated agency - In Georgia, two licensees affiliated with the sam broker are
assigned by the broker to represent the buyer and seller respectively in the same
transaction. Under BRRETTA this would be considered
31 days - A licensee should search the National Do Not Call Registry on a regular
basis and drop registered consumer phone numbers from their call lists. This
should be done at least once every
10 business days - Under the CAN-SPAM Act opt-out request must be handled
within
Yes, the agent can call for up to 3 months after the consumer makes an inquiry - A
potential buyer attends an "open house" on a listed property and inquires about
the sales price. The interested buyer is registered on the Do-Not-Call Registry. Can
the salesperson call the interested buyer?
