25 HR POST LICENSE COURSE QUESTIONS
The mix of licensed and unlicensed Members of the GA Real Estate Commission is -
Answers :5 licensed and 1 not licensed
The Georgia Real Estate Commission is a team that consists of - Answers :6 members
All Members of the Georgia Real Estate Commission are appointed by the - Answers
:Govenor
The GA RE Commission has the authority to take disciplinary action for a violation of
the license law such as suspension or revocation of a license, or extra education. The
Commission does NOT have the authority - Answers :to imprison violators or issue fines
greater than $1,000 for a single violation or $5,000 for multiple violations.
Renewing a license on-line will result in a - Answers :discounted fee to the licensee.
The Real Estate Education, Research and Recovery Fund will get - Answers :$20 when
an approved real estate school activates its original license.
All money deposited in the Recovery Fund is derived from license fees collected from
licensees or from income derived from investing the funds. No money is given to the -
Answers :state treasury or is received from the state treasury.
When a licensee decided to leave his/her brokerage and work for another agency the
former broker must sign a - Answers :release form and send it to the Commission.
: A licensee must get_________________to put a sign on the owner's property offering
it For Sale. - Answers :written permission from the property owner
When working with two clients as a dual agent (after both clients have agreed in writing
to the relationship) an agent cannot tell either side what the other may accept or may
pay for the property and cannot disclose the buyer's financial condition to the seller but
CAN - Answers :provide public information such as market data to either party.
Without a brokerage engagement, a licensee who is acting as a Transaction Broker,
can facilitate and assist but can NOT offer a price or terms or otherwise - Answers :help
a buyer negotiate a good deal on a property.
A listing agent while representing the seller still has a duty to disclose to a prospective
purchaser any____________ that the agent feels would be a significant factor to a
buyer in making a decision to purchase or a seller in deciding to sell. - Answers
:material facts
, A listing agent with has a duty to seek offers to purchase from ready, willing, and able
buyers. Once a contract has been accepted the agent is not required to seek additional
offers (back-up offers) unless - Answers :the client asked the agent to do so.
TOPIC: DISCLOSURE/CONFIDENTIALITY
There is a license exemption in Georgia for someone who operates a motel/hotel so
long as he or she does not have - Answers :THREE suites available for longer-term
leases.
A condition that must be followed for a person to qualify for the innkeeper's exemption is
that: The security deposit given must not exceed the cost of the - Answers :rental
required for the minimum rental period.
If a person is managing rental property that is leased and occupied for more than 90-
days he must have a - Answers :real estate license.
The licensee then renews the license every - Answers :y 4 years thereafter by the last
day of the applicant's birth month by showing proof of completion of all continuing
education requirements and paying the renewal fee.
A Georgia licensee can move out-of-state and still practice real estate in Georgia as a
non-resident licensee, so long as he or she does not - Answers :obtain a license in the
new state of residence.
If a person with a record of a previous assault conviction wants to apply for a license the
Commission has the authority to grant the license - - Answers :if the conviction was
more than 10 years before the application.
All sales commissions are negotiated with each client, and the only "standard" is the
licensee's own brokerage policy. There is no rule or law to set or fix commissions.
Brokerages who agree on amounts to charge are guilty of violating the - Answers
:Sherman Anti-Trust Act.
A licensee can be an agent representing either a landlord or a tenant (or both, as a dual
agent). But there is NOT an agency relationship between - Answers :a Landlord and a
tenant.
Any Earnest Money received belongs to the buyer until (and perhaps after) closing.
Earnest Money must be deposited in a________________________unless the parties
have agreed otherwise in writing. - Answers :federally insured trust or escrow account
on receipt
A buyer giving written permission for a broker to disburse all are part of the earnest
money from a trust account as a portion of the broker's commission is NOT allowed.
Both parties must - Answers :sign a written agreement to allow the release of earnest
money.
The mix of licensed and unlicensed Members of the GA Real Estate Commission is -
Answers :5 licensed and 1 not licensed
The Georgia Real Estate Commission is a team that consists of - Answers :6 members
All Members of the Georgia Real Estate Commission are appointed by the - Answers
:Govenor
The GA RE Commission has the authority to take disciplinary action for a violation of
the license law such as suspension or revocation of a license, or extra education. The
Commission does NOT have the authority - Answers :to imprison violators or issue fines
greater than $1,000 for a single violation or $5,000 for multiple violations.
Renewing a license on-line will result in a - Answers :discounted fee to the licensee.
The Real Estate Education, Research and Recovery Fund will get - Answers :$20 when
an approved real estate school activates its original license.
All money deposited in the Recovery Fund is derived from license fees collected from
licensees or from income derived from investing the funds. No money is given to the -
Answers :state treasury or is received from the state treasury.
When a licensee decided to leave his/her brokerage and work for another agency the
former broker must sign a - Answers :release form and send it to the Commission.
: A licensee must get_________________to put a sign on the owner's property offering
it For Sale. - Answers :written permission from the property owner
When working with two clients as a dual agent (after both clients have agreed in writing
to the relationship) an agent cannot tell either side what the other may accept or may
pay for the property and cannot disclose the buyer's financial condition to the seller but
CAN - Answers :provide public information such as market data to either party.
Without a brokerage engagement, a licensee who is acting as a Transaction Broker,
can facilitate and assist but can NOT offer a price or terms or otherwise - Answers :help
a buyer negotiate a good deal on a property.
A listing agent while representing the seller still has a duty to disclose to a prospective
purchaser any____________ that the agent feels would be a significant factor to a
buyer in making a decision to purchase or a seller in deciding to sell. - Answers
:material facts
, A listing agent with has a duty to seek offers to purchase from ready, willing, and able
buyers. Once a contract has been accepted the agent is not required to seek additional
offers (back-up offers) unless - Answers :the client asked the agent to do so.
TOPIC: DISCLOSURE/CONFIDENTIALITY
There is a license exemption in Georgia for someone who operates a motel/hotel so
long as he or she does not have - Answers :THREE suites available for longer-term
leases.
A condition that must be followed for a person to qualify for the innkeeper's exemption is
that: The security deposit given must not exceed the cost of the - Answers :rental
required for the minimum rental period.
If a person is managing rental property that is leased and occupied for more than 90-
days he must have a - Answers :real estate license.
The licensee then renews the license every - Answers :y 4 years thereafter by the last
day of the applicant's birth month by showing proof of completion of all continuing
education requirements and paying the renewal fee.
A Georgia licensee can move out-of-state and still practice real estate in Georgia as a
non-resident licensee, so long as he or she does not - Answers :obtain a license in the
new state of residence.
If a person with a record of a previous assault conviction wants to apply for a license the
Commission has the authority to grant the license - - Answers :if the conviction was
more than 10 years before the application.
All sales commissions are negotiated with each client, and the only "standard" is the
licensee's own brokerage policy. There is no rule or law to set or fix commissions.
Brokerages who agree on amounts to charge are guilty of violating the - Answers
:Sherman Anti-Trust Act.
A licensee can be an agent representing either a landlord or a tenant (or both, as a dual
agent). But there is NOT an agency relationship between - Answers :a Landlord and a
tenant.
Any Earnest Money received belongs to the buyer until (and perhaps after) closing.
Earnest Money must be deposited in a________________________unless the parties
have agreed otherwise in writing. - Answers :federally insured trust or escrow account
on receipt
A buyer giving written permission for a broker to disburse all are part of the earnest
money from a trust account as a portion of the broker's commission is NOT allowed.
Both parties must - Answers :sign a written agreement to allow the release of earnest
money.
