Licensing Exemptions - correct answer The requirement for holding a license does not apply to
certain individuals including owners or lessors of real estate, attorneys-in-fact, receivers,
trustees in bankruptcy, administrators, executors, guardians, employees of brokers providing
property management services, managers of properties with occupancy periods shorter than 90
days, individuals performing only physical maintenance, or certified public accountants
performing their duties.
Misdemeanor for License Violation - correct answer Acting as a licensee without a license (or
exemption) is considered a misdemeanor.
Cease and Desist Order - correct answer The Real Estate Commission can issue a cease and
desist order for violations of licensing requirements.
Fines for Violating Cease and Desist - correct answer Violating a cease and desist order can
result in a fine of $1,000 per transaction and for each day the violation continues.
Who Needs a License? - correct answer Any person who offers, attempts to offer, or negotiates
to list, lease, buy, exchange, advertise, or auction, sell real estate needs a license.
Pattern of Business - correct answer A pattern of business in buying and selling real estate is
identified if an individual has engaged in 1 or more real estate transactions on 2 or more
occasions in any 12-month period.
Supervising Rent Collection - correct answer Any person who supervises the collection, offer,
attempt, or agreement to collect rent for the use of real estate requires a license.
Advertising as Real Estate Agent - correct answer Any person who advertises or represents
themselves as being engaged in the business of buying, selling, exchanging, renting, or leasing
real estate requires a license.
Referral Agent - correct answer Acting as a referral agent in real estate transactions requires a
license.
Opening Real Estate to Public - correct answer Opening real estate to the public for marketing
purposes requires a license.
Auctioning Real Estate - correct answer Selling, renting, leasing, or offering real estate for sale
or lease at auction requires a license.
Broker Price Opinion (BPO) - correct answer Preparing or providing a broker price opinion (BPO)
or comparative market analysis (CMA) requires a license.
Types of Licenses - correct answer Different types of licenses include Salesperson licenses.
, Salesperson Age Requirement - correct answer Salesperson applicants must be at least 18 years
old.
LEARN Sessions - correct answer Attending Kaplan LEARN sessions is critical for success on
exam day, providing previews and reviews of required study materials.
LEARN Session Purpose - correct answer LEARN sessions supplement the real estate program
and boost the knowledge needed to pass the exam.
Community Forum - correct answer The COMMUNITY FORUM is a platform for students to
arrange study groups and for instructors to interact with students.
Contact Information - correct answer Students can reach out with questions via email, including
their state, or post questions in the COMMUNITY FORUM.
Kaplan, Inc. - correct answer Kaplan, Inc. is the provider of the LEARN Georgia Exam Prep.
Salesperson applicant requirements - correct answer Must be at least 18 years old, be of good
moral character, have a high school degree or equivalency certificate, complete 75 hours of
pre-licensing education, and pass the state licensing exam.
Broker applicant requirements - correct answer Must be at least 21 years old, be of good moral
character, have been licensed for at least 3 years as a salesperson or community manager in
Georgia, have taken a 60-hour brokers pre-licensing course, passed a written exam, and be
issued two licenses: one in qualifying broker's name, one in company's name.
Community Association Manager (CAM) applicant requirements - correct answer Must be at
least 18 years old, be of good moral character, have a high school degree or equivalency
certificate, complete 25 hours of CAM pre-licensing education, and pass the state licensing
exam.
Associate Broker's License - correct answer A licensed broker who works for another broker,
instead of operating their own brokerage.
License renewal requirements - correct answer Any managing broker, broker, or CAM whose
license expired can renew the license every four years at the end of the month in which the
licensee's birthday occurs, must pay a renewal fee and submit proof of continuing education.
Continuing education requirements for license renewal - correct answer Must complete 24
hours of continuing education every four years and a new salesperson must also take a 25-hour
post-license course within one year of becoming licensed for the first time.
Post-license course equivalency - correct answer A 25-hour post-license course equals 6 hours
of continuing education.