Barney Fletcher Cram Final Exam
Questions with Absolutely Verified
Correct Solutions||Updated 2025/2026
Exam Tested Questions Already
Graded!!!<<BRAND NEW VERSION>>
When a property is being sold on an assumption of the existing loan, complications
with the transfer of some mortgage loans can be:
A. the purchaser may have to qualify with the lender as if it were a new loan
B. the purchaser may have to pay a higher rate of interest
C. the loan may be non assumable and due in full if the seller transfers ownership
D. all of the above - ANSWER ✓ D. all of the above
A seller wants to list the property with a broker, but wants to avoid paying any
commission should the seller be fortunate enough to sell the property. himself.
Which of the following should the seller avoid signing?
A. an exclusive agency listing
B. an exclusive right to sell listing
C. an open listing
D. all listings - ANSWER ✓ B. an exclusive right to sell listing
which BEST describes the principle that a home maintains its highest value in a
neighborhood with similar homes and similar type housing?
A. substitution
B. conformity
C. highest and best use
D. competition - ANSWER ✓ B. conformity
Which of the following persons would require a real estate license in Georgia?
,A. a licensed auctioneer selling real property at a single auction for another party
for compensation
B. a licensed forester selling a single parcel of timberland for another for
compensation
C. a licensed attorney acting outside the normal scope of the practice of law by
selling for another for compensation
D. any of the above - ANSWER ✓ D. any of the above
An unlicensed assistant cannot:
A. assemble contracts and other documents
B. place signs on the property
C. show property
D. check on loan commitments - ANSWER ✓ C. show property
In order to recover monetary damages from the Real Estate Recovery Fund, the
claimant shall be required to show the claimant:
A. is not licensed
B. is not the spouse of a licensee
C. has obtained a judgement
D. meets all of the above requirements - ANSWER ✓ D. meets all of the above
requirements
Broker Jones is providing assistance to both Smith and Cline (seller and buyer
respectively) by performing only ministerial acts through a written agreement. This
is best referred to as:
A. dual agency because Jones is assisting both
B. designated agency because Jones is representing both parties through a written
agreement
C. transaction brokerage with both parties
D. single agency with Smith only - ANSWER ✓ C. transaction brokerage with
both parties
In order to have funds in an interest bearing trust account, the broker must do all
of the following EXCEPT:
,A. notify the commission of the name of the account (which must contain the word
trust or escrow)
B. notify the commission within 30 days of opening the account that said account
is in a federally insured bank
C. notify the commission of the account number of said account
D. notify all parties to the transaction of the name of the bank where said trust
funds will be kept - ANSWER ✓ D. notify all parties to the transaction of the name
of the bank where said trust funds will be kept
Which of the following is NOT true of the Commissioner?
A. he or she is hired by the Commission
B. he or she may hold an inactive license
C. he or she is appointed by the Governor and approved by the Senate
D. he or she is a full time employee - ANSWER ✓ C. he or she is appointed by the
Governor and approved by the Senate
Which of the following is NOT true of the Real Estate Commission Members?
A. five must hold an active real estate license
B. one must not hold an active license but can hold an inactive license
C. five must have been residents of Georgia for at least 5 years
D. the Commissioner is not the sixth member of the commission - ANSWER ✓ B.
one must not hold an active license but can hold an inactive license
Which of the following statements may a licensee properly make?
A. "I think a Cuban just moved into the neighborhood"
B. "when the zoning changes to commercial, it will double in value"
C. "according to the developer, the property will double in value within the next 10
years"
D. "all indications are that the property will double within the next ten years" -
ANSWER ✓ C. "according to the developer, the property will double in value
within the next 10 years"
A broker advertises that if you will list with him and he cannot sell the property,
he will buy it from you. Is this legal?
A. never, this is an inducement and is illegal
, B. never, this is an unfair practice and a misdemeanor
C. ok, if the two parties agree to a sales price and terms when the property sells
D. ok, if the two parties agree to a sales price and terms prior to the listing being
signed - ANSWER ✓ D. ok, if the two parties agree to a sales price and terms prior
to the listing being signed
A tenant had a one year lease which expired. The tenant stayed in the home past
the expiration and continued to pay the rent in which the landlord accepted. This
type of lease would be called:
A. an estate for years
B. a periodic tenancy
C. a tenancy at sufferance
D. an easement by prescription - ANSWER ✓ B. a periodic tenancy
A lien was placed on a property for electrical equipment for $4,500. There already
existed a special assessment lien for $1,000, a mortgage lien for $40,000, and an
IRS lien for $20,000. The home was foreclosed on and sold. Which lien would take
priority?
A. the IRS lien. The government always comes first
B. the mortgage lien. It is for the most amount of money
C. the special assessment lien. The government always comes first
D. the mechanic's lien. It must be paid before the home can be sold - ANSWER ✓
C. the special assessment lien. The government always comes first
Jane, a licensee, refuses to return the $1,000 security deposit back to her renter
within 30 days of the termination of the lease. Which of the following is most
likely to happen?
A. Jane could lose her license
B. Jane could be forced to pay a $5,000 fine to the GREC
C. Jane could be forced to pay the renter and the commission a fine of $5,000 each
D. Jane could be forced to pay the renter $3,000 and be disciplined by the GREC -
ANSWER ✓ D. Jane could be forced to pay the renter $3,000 and be disciplined
by the GREC
Which of the following would be exempt from Federal Fair Housing Laws?
Questions with Absolutely Verified
Correct Solutions||Updated 2025/2026
Exam Tested Questions Already
Graded!!!<<BRAND NEW VERSION>>
When a property is being sold on an assumption of the existing loan, complications
with the transfer of some mortgage loans can be:
A. the purchaser may have to qualify with the lender as if it were a new loan
B. the purchaser may have to pay a higher rate of interest
C. the loan may be non assumable and due in full if the seller transfers ownership
D. all of the above - ANSWER ✓ D. all of the above
A seller wants to list the property with a broker, but wants to avoid paying any
commission should the seller be fortunate enough to sell the property. himself.
Which of the following should the seller avoid signing?
A. an exclusive agency listing
B. an exclusive right to sell listing
C. an open listing
D. all listings - ANSWER ✓ B. an exclusive right to sell listing
which BEST describes the principle that a home maintains its highest value in a
neighborhood with similar homes and similar type housing?
A. substitution
B. conformity
C. highest and best use
D. competition - ANSWER ✓ B. conformity
Which of the following persons would require a real estate license in Georgia?
,A. a licensed auctioneer selling real property at a single auction for another party
for compensation
B. a licensed forester selling a single parcel of timberland for another for
compensation
C. a licensed attorney acting outside the normal scope of the practice of law by
selling for another for compensation
D. any of the above - ANSWER ✓ D. any of the above
An unlicensed assistant cannot:
A. assemble contracts and other documents
B. place signs on the property
C. show property
D. check on loan commitments - ANSWER ✓ C. show property
In order to recover monetary damages from the Real Estate Recovery Fund, the
claimant shall be required to show the claimant:
A. is not licensed
B. is not the spouse of a licensee
C. has obtained a judgement
D. meets all of the above requirements - ANSWER ✓ D. meets all of the above
requirements
Broker Jones is providing assistance to both Smith and Cline (seller and buyer
respectively) by performing only ministerial acts through a written agreement. This
is best referred to as:
A. dual agency because Jones is assisting both
B. designated agency because Jones is representing both parties through a written
agreement
C. transaction brokerage with both parties
D. single agency with Smith only - ANSWER ✓ C. transaction brokerage with
both parties
In order to have funds in an interest bearing trust account, the broker must do all
of the following EXCEPT:
,A. notify the commission of the name of the account (which must contain the word
trust or escrow)
B. notify the commission within 30 days of opening the account that said account
is in a federally insured bank
C. notify the commission of the account number of said account
D. notify all parties to the transaction of the name of the bank where said trust
funds will be kept - ANSWER ✓ D. notify all parties to the transaction of the name
of the bank where said trust funds will be kept
Which of the following is NOT true of the Commissioner?
A. he or she is hired by the Commission
B. he or she may hold an inactive license
C. he or she is appointed by the Governor and approved by the Senate
D. he or she is a full time employee - ANSWER ✓ C. he or she is appointed by the
Governor and approved by the Senate
Which of the following is NOT true of the Real Estate Commission Members?
A. five must hold an active real estate license
B. one must not hold an active license but can hold an inactive license
C. five must have been residents of Georgia for at least 5 years
D. the Commissioner is not the sixth member of the commission - ANSWER ✓ B.
one must not hold an active license but can hold an inactive license
Which of the following statements may a licensee properly make?
A. "I think a Cuban just moved into the neighborhood"
B. "when the zoning changes to commercial, it will double in value"
C. "according to the developer, the property will double in value within the next 10
years"
D. "all indications are that the property will double within the next ten years" -
ANSWER ✓ C. "according to the developer, the property will double in value
within the next 10 years"
A broker advertises that if you will list with him and he cannot sell the property,
he will buy it from you. Is this legal?
A. never, this is an inducement and is illegal
, B. never, this is an unfair practice and a misdemeanor
C. ok, if the two parties agree to a sales price and terms when the property sells
D. ok, if the two parties agree to a sales price and terms prior to the listing being
signed - ANSWER ✓ D. ok, if the two parties agree to a sales price and terms prior
to the listing being signed
A tenant had a one year lease which expired. The tenant stayed in the home past
the expiration and continued to pay the rent in which the landlord accepted. This
type of lease would be called:
A. an estate for years
B. a periodic tenancy
C. a tenancy at sufferance
D. an easement by prescription - ANSWER ✓ B. a periodic tenancy
A lien was placed on a property for electrical equipment for $4,500. There already
existed a special assessment lien for $1,000, a mortgage lien for $40,000, and an
IRS lien for $20,000. The home was foreclosed on and sold. Which lien would take
priority?
A. the IRS lien. The government always comes first
B. the mortgage lien. It is for the most amount of money
C. the special assessment lien. The government always comes first
D. the mechanic's lien. It must be paid before the home can be sold - ANSWER ✓
C. the special assessment lien. The government always comes first
Jane, a licensee, refuses to return the $1,000 security deposit back to her renter
within 30 days of the termination of the lease. Which of the following is most
likely to happen?
A. Jane could lose her license
B. Jane could be forced to pay a $5,000 fine to the GREC
C. Jane could be forced to pay the renter and the commission a fine of $5,000 each
D. Jane could be forced to pay the renter $3,000 and be disciplined by the GREC -
ANSWER ✓ D. Jane could be forced to pay the renter $3,000 and be disciplined
by the GREC
Which of the following would be exempt from Federal Fair Housing Laws?
