ACEABLE FINAL EXAM STUDY TERMS
(GA) EXAM 2025/2026 QUESTIONS AND
ANSWERS 100% PASS
What is one way a co-op sales contract differs from the sales contract for a single-family home?
- ANS the co-op sales contract includes a section detailing what the buyer must do it they
hope to gains the corporations board approval (One of the most important differences is that
purchasing cooperative shares requires the approval of the corporation. So the co-op sales
contract includes a section detailing what the buyer must do if they hope to gain the
corporation's approval (usually called "board approval").
which of the following BEST defines a circumstance requiring a real estate license? -
ANS performing a real estate act for another party with the intent to receive compensation
(Performing a real estate act for another party with the intent to receive compensation best
defines the real estate license requirement.)
What is the MOST COMMON clause in listing agreements? - ANS sign posting clause
which document provides a detailed list of each partys expenses at closing? - ANS the closing
disclosure
how is debt service ratio calculated? - ANS by dividing net operating income by total debt
service
1 @COPYRIGHT 2025/2026
, What is NOT NEEDED when prorating an expense? - ANS real estate transfer amount (usually
paid by seller)
what mortgage is short-term and paid out in draws? - ANS construction mortgage (lender
pays funds to borrower in installments, called draws, as the construction progress)
Molly wants to buy a property downtown so she will be closer to the local nightlife and have a
shorter work commute. Her interest in a property is greatly influenced by the economic
significance of the property's location. What is Molly influenced by? - ANS Situs (economic
significance of a propertys location)
Seller Jordan chooses to not disclose an easement on his property and the buyer never asks
about it. What is this an example of? - ANS Silent fraud
Agent Laura completed a CMA on a property her client was interested in making an offer on.
What kind of value was Laura attempting to determine? - ANS Market Value (CMA =
comparative market analysis)
what does "vicarious liability" mean? - ANS broker is responsible for their licensees actions
or omissions
what is easement by condemnation? - ANS easement in which property is taken via eminent
domain and serves as a declaration that a structure must be closed because it's unfit for
occupants (An easement by condemnation is an easement in which private property is taken for
public use via eminent domain. It serves as a declaration that a structure must be closed or
demolished because it is unfit for occupants.)
How would an appraiser be able to adjust for the size of the property using the sales
comparison approach? - ANS they would need to find the price per square foot of the
comparable property
2 @COPYRIGHT 2025/2026
(GA) EXAM 2025/2026 QUESTIONS AND
ANSWERS 100% PASS
What is one way a co-op sales contract differs from the sales contract for a single-family home?
- ANS the co-op sales contract includes a section detailing what the buyer must do it they
hope to gains the corporations board approval (One of the most important differences is that
purchasing cooperative shares requires the approval of the corporation. So the co-op sales
contract includes a section detailing what the buyer must do if they hope to gain the
corporation's approval (usually called "board approval").
which of the following BEST defines a circumstance requiring a real estate license? -
ANS performing a real estate act for another party with the intent to receive compensation
(Performing a real estate act for another party with the intent to receive compensation best
defines the real estate license requirement.)
What is the MOST COMMON clause in listing agreements? - ANS sign posting clause
which document provides a detailed list of each partys expenses at closing? - ANS the closing
disclosure
how is debt service ratio calculated? - ANS by dividing net operating income by total debt
service
1 @COPYRIGHT 2025/2026
, What is NOT NEEDED when prorating an expense? - ANS real estate transfer amount (usually
paid by seller)
what mortgage is short-term and paid out in draws? - ANS construction mortgage (lender
pays funds to borrower in installments, called draws, as the construction progress)
Molly wants to buy a property downtown so she will be closer to the local nightlife and have a
shorter work commute. Her interest in a property is greatly influenced by the economic
significance of the property's location. What is Molly influenced by? - ANS Situs (economic
significance of a propertys location)
Seller Jordan chooses to not disclose an easement on his property and the buyer never asks
about it. What is this an example of? - ANS Silent fraud
Agent Laura completed a CMA on a property her client was interested in making an offer on.
What kind of value was Laura attempting to determine? - ANS Market Value (CMA =
comparative market analysis)
what does "vicarious liability" mean? - ANS broker is responsible for their licensees actions
or omissions
what is easement by condemnation? - ANS easement in which property is taken via eminent
domain and serves as a declaration that a structure must be closed because it's unfit for
occupants (An easement by condemnation is an easement in which private property is taken for
public use via eminent domain. It serves as a declaration that a structure must be closed or
demolished because it is unfit for occupants.)
How would an appraiser be able to adjust for the size of the property using the sales
comparison approach? - ANS they would need to find the price per square foot of the
comparable property
2 @COPYRIGHT 2025/2026
