GA REAL ESTATE FINAL EXAM REVIEW QUESTIONS AND ANSWERS, 100% ACCURATE, RATED A+/| latest update 2024/25|

GA REAL ESTATE FINAL EXAM REVIEW QUESTIONS AND ANSWERS, 100% ACCURATE, RATED A+/ Anti-Trust - -An area of law concerned with maintaining competition in private markets by prohibiting any restraint on trade. Georgia Real Estate Commission - -Pass rules and regulations that govern real estate licensees Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA) - -A federal law enacted by Congress in 1980 to create a tax on the chemical and petroleum industries and provided broad authority to respond directly to releases or threatened releases of hazardous substances that may endanger public health or the environment. Also known as Superfund. Home Rule - -In Georgia, this rule allows a county or municipality legislative power to adopt reasonable ordinances and regulations including, but not limited to, property affairs, and local government for which no provision is in place. Georgia Uniform Deceptive Trade Practices Act (UDTPA) - -A real estate anti-trust law focused on price fixing and collusion between brokers Homestead Exemption - -refers to a property tax reduction available to a homeowner/occupant who files for the deduction within the tax jurisdiction's specified time limit. Georgia Fair Housing - -Law that guards against a licensee, either by direct response or by implication, suggesting that information regarding protected classes is ever used by a broker or salesperson to search for property or to evaluate the demographics of an area. License law in Georgia requires brokers to deposit transactional funds into a trust account: - - Promptly unless the contract states otherwise A real estate license would automatically be revoked under which of the following circumstances? - - Once any money is paid out from the Recovery Fund as the result of a licensee's actions, the real estate license will be AUTOMATICALLY revoked. All Georgia real estate offices must: - -License law requires brokers to keep transactional records for at least three years The statute of frauds... - -must be in writing to avoid f