Final Exam-Colibri Real Estate 2025 With
100% Correct Answers
1. All six members of the Georgia Real Estate Commission are appointed by - correct answers
✔✔The Governor of Georgia
How many commission members must be licensed - correct answers ✔✔Five of the six
members of the Georgia Real Estate can have licenses One must be an unlicensed member of
the " general public 3. EARLNOTES
What must happen with all funds in a sale - correct answers ✔✔All money that belongs to
clients or customers must be deposited in the brokerage trust fund as soon as possible ASAP
after receipt .
What is the procedure for license expiration - correct answers ✔✔When a license has been
lapsed for more than two years but less than five years the former licensee may request
reinstatement and retake a 75 - hour pre - license course . After ten years the former licensee
must follow the procedure for new applicants .
Which descrihes dual agency - correct answers ✔✔When a broker appoints one of his agents to
serve the seller and one to serve the buyer , they are called designated agents and the broker
will serve as a dual agent .
What happens when someone recieves mistreatment from a real estate licensee - correct
answers ✔✔When a consumer or client ( not another licensee or a relative of the accused
licensee ) is financially damaged by the actions of a licensee , he or she can file , through the
court a claim against the Georgia Real Estate Education , Research and Recovery Fund for
reimbursement up to $ 25,000 per transaction .
,For a brokerage or any licensee under a managing broker to be considered a Dual Agent , he /
she must - correct answers ✔✔obtain written permission from both the seller and the buyer
before acting on behalf of either party . BIRTH MONTHS
When are renewal deadlines for licensees - correct answers ✔✔All renewal deadlines for
licenses are set for the last day of the licensee's birth month every four full years . ( The
licensee's first renewal period may be longer , depending on when the license was obtained . It
starts the last day of the birth month that arrives after the license is obtained ) .
What is the training hours required for licensees - correct answers ✔✔Assuming a licensee has
competed the 25 - hour GA Post License Course during the first year of licensure ) , he will
receive credit for 9 hours of Continuing education and will only need to complete 27 hours of CE
during the rest of the licensee's first licensure period . For the second four - year period and
each renewal thereafter . the requirement is 36 hours of CE.
If a buyer client wishes to withdraw from a contract and get h his earnest money returned the
salesperson must - correct answers ✔✔REFER the issue to the EMPLOYING or managing
BROKER for a decision
When every original license fee is received , of the funds received _____from each license fee is
allocated to fund the RE Education , Research and Recovery Fund - correct answers ✔✔20$
The clause in an agency agreement used to safeguard the broker from unscrupulous buyers or
sellers , who would take the broker's generated leads , but then buy or sell the property once
the listing agreement has expired in order to avoid paying the commission to the licensee is
known as - correct answers ✔✔The Safety or Carryover Extender Clause .
Under GA Law , a listing broker - correct answers ✔✔does not have to share his sales
commission with the selling broker who has procured the ultimate buyer, this is legal and not
against GA real estate law.
, Every brokerage must maintain - correct answers ✔✔an accounting system to detail all receipts
and deposits received from others that are under the control of the brokerage.
When two people want to simply exchange one property for for another , the person who
handles the details for a fee must have - correct answers ✔✔either a real estate license or a law
license
Members of the Georgia Real Estate Commission serve - correct answers ✔✔5 year terms
Whenever a property owner engages a licensee to list list property for sale where the
commission is not a pre set percentage or simple dollar value but will be all funds than remain
after the owner receives a certain amount the arrangement is called a - correct answers ✔✔NET
LISTING and is illegal .
In order to change from one brokerage to another the licensee needs to - correct answers
✔✔get the current managing broker to to sign a release form and send it to the commission
A Managing broker must have all licensed and unlicensed staff , whether employees or
independent contractors - correct answers ✔✔sign a written employment agreement setting
forth the relationship , the duties , and the compensation
In order to be in compliance with license law any listing contract , buyer agency agreement , or
property management agreement must have - correct answers ✔✔a definite termination date
and no provision for an automatic renewal
Any Any applicant for a license who have a criminal history must must provide the Commission
with the appropriate data so the Commission's investigator can get an - correct answers ✔✔FBI
Report
100% Correct Answers
1. All six members of the Georgia Real Estate Commission are appointed by - correct answers
✔✔The Governor of Georgia
How many commission members must be licensed - correct answers ✔✔Five of the six
members of the Georgia Real Estate can have licenses One must be an unlicensed member of
the " general public 3. EARLNOTES
What must happen with all funds in a sale - correct answers ✔✔All money that belongs to
clients or customers must be deposited in the brokerage trust fund as soon as possible ASAP
after receipt .
What is the procedure for license expiration - correct answers ✔✔When a license has been
lapsed for more than two years but less than five years the former licensee may request
reinstatement and retake a 75 - hour pre - license course . After ten years the former licensee
must follow the procedure for new applicants .
Which descrihes dual agency - correct answers ✔✔When a broker appoints one of his agents to
serve the seller and one to serve the buyer , they are called designated agents and the broker
will serve as a dual agent .
What happens when someone recieves mistreatment from a real estate licensee - correct
answers ✔✔When a consumer or client ( not another licensee or a relative of the accused
licensee ) is financially damaged by the actions of a licensee , he or she can file , through the
court a claim against the Georgia Real Estate Education , Research and Recovery Fund for
reimbursement up to $ 25,000 per transaction .
,For a brokerage or any licensee under a managing broker to be considered a Dual Agent , he /
she must - correct answers ✔✔obtain written permission from both the seller and the buyer
before acting on behalf of either party . BIRTH MONTHS
When are renewal deadlines for licensees - correct answers ✔✔All renewal deadlines for
licenses are set for the last day of the licensee's birth month every four full years . ( The
licensee's first renewal period may be longer , depending on when the license was obtained . It
starts the last day of the birth month that arrives after the license is obtained ) .
What is the training hours required for licensees - correct answers ✔✔Assuming a licensee has
competed the 25 - hour GA Post License Course during the first year of licensure ) , he will
receive credit for 9 hours of Continuing education and will only need to complete 27 hours of CE
during the rest of the licensee's first licensure period . For the second four - year period and
each renewal thereafter . the requirement is 36 hours of CE.
If a buyer client wishes to withdraw from a contract and get h his earnest money returned the
salesperson must - correct answers ✔✔REFER the issue to the EMPLOYING or managing
BROKER for a decision
When every original license fee is received , of the funds received _____from each license fee is
allocated to fund the RE Education , Research and Recovery Fund - correct answers ✔✔20$
The clause in an agency agreement used to safeguard the broker from unscrupulous buyers or
sellers , who would take the broker's generated leads , but then buy or sell the property once
the listing agreement has expired in order to avoid paying the commission to the licensee is
known as - correct answers ✔✔The Safety or Carryover Extender Clause .
Under GA Law , a listing broker - correct answers ✔✔does not have to share his sales
commission with the selling broker who has procured the ultimate buyer, this is legal and not
against GA real estate law.
, Every brokerage must maintain - correct answers ✔✔an accounting system to detail all receipts
and deposits received from others that are under the control of the brokerage.
When two people want to simply exchange one property for for another , the person who
handles the details for a fee must have - correct answers ✔✔either a real estate license or a law
license
Members of the Georgia Real Estate Commission serve - correct answers ✔✔5 year terms
Whenever a property owner engages a licensee to list list property for sale where the
commission is not a pre set percentage or simple dollar value but will be all funds than remain
after the owner receives a certain amount the arrangement is called a - correct answers ✔✔NET
LISTING and is illegal .
In order to change from one brokerage to another the licensee needs to - correct answers
✔✔get the current managing broker to to sign a release form and send it to the commission
A Managing broker must have all licensed and unlicensed staff , whether employees or
independent contractors - correct answers ✔✔sign a written employment agreement setting
forth the relationship , the duties , and the compensation
In order to be in compliance with license law any listing contract , buyer agency agreement , or
property management agreement must have - correct answers ✔✔a definite termination date
and no provision for an automatic renewal
Any Any applicant for a license who have a criminal history must must provide the Commission
with the appropriate data so the Commission's investigator can get an - correct answers ✔✔FBI
Report
