GA REAL ESTATE LICENSE TEST REVIEW QUESTIONS AND ANSWERS, GRADED A+/ VERIFIED.| latest update 2024/25|

GA REAL ESTATE LICENSE TEST REVIEW QUESTIONS AND ANSWERS, GRADED A+/ VERIFIED. The Commission's authority is based upon: - -Statutory law Agency can best be described as: - -A written representation agreement between Broker and client. Charging advance brokerage fees is: - -A duty of a broker. The Commission rules and regulations may be adopted under what circumstances? - -They must fall under the "umbrella" of the license law. Which is true concerning the Commission's due process? - -Any new rules passed must not increase business costs without a compelling need. Which of the following describes the composition of the Commission? - -5 licensee members, 1 consumer affairs member, and 5 year terms The Commission's disciplinary authority includes: - -Requiring periodic accounting reports related to trust violations. What is the purpose of the Commission's rules and regulations? - -To clarify sections of the law. Brokerage related activities not requiring the exercise of the licensee's own judgment best describe: - -Ministerial acts After passing the state licensing exam, a licensee must ______________ to get an active license. - - Have an employing broker Commission-approved instructors and schools are prohibited from - -Accepting any exam content information from licensees. Signing a Consent to Jurisdiction form relates to - -Qualifying for non-resident licensure in another state. If a nonresident licensee terminates the affiliation with a Georgia broker, what occurs with the license? - -The license will automatically be terminated. Other Georgia licensure exemptions include - -A community association member acting on behalf of the association. Which of the following is true concerning applying for a license? - -The salesperson must apply within 3 months after the exam date and the broker within 1 year. Which of the following pertains to the "innkeeper's" exemption? - -The room or unit may not be considered the permanent address of the occupant. Once a salesperson has been issued his original license he/she must - -Complete a 25-hour approved course within 1 year of licensure. Which of the following are qualifications for broker licensure? - -21 years old, Georgia resident, high school graduate, 3 years as a licensee, 60 hour broker course, 75% on state test Which of the following are required for license renewal? - -3 hours of continuing education in Georgia License Law Which of the following is true concerning Georgia business licenses? - -One broker is designated as the company's qualifying broker. One condition that allows a nonresident broker to participate in brokerage activities in Georgia is what? - -A written reciprocity agreement with the nonresident broker's state. If a licensee lets his or her license laps for 6 months, how much will the reinstatement fee be? - -$150 A licensee on inactive status who changes his or her address must notify the Commission of the new address - -within 30 days. Which of the following is true concerning the qualifying broker's death? - -The entity must secure a new qualifying broker within 60 days. If a license applicant fails to pass the exam, the applicant: - -may refile a new application with an additional fee to retake the exam when scheduling permits. Which is true concerning fees collected by the Commission? - -They are non-refundable. If a qualifying broker resigns, how soon must the company secure a new