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

GA REAL ESTATE EXAM REVIEW QUESTIONS AND ANSWERS, GRADED A+/ VERIFIED. ____ are a good indication of risk - -Cap rates ____ fraud is the intentional failure to reveal a material fact that impacts a real estate transaction - - Passive ____ is making a statement that is not intentionally wrong, but is not correct because the agent or broker fails to confirm the accuracy prior to making the false statement - -Negligent misrepresentation ____ misrepresentation is the result of intentionally hiding a property flaw just to make a sale - - Fraudulent 1 acre = ______ square feet - -43,560 10 mills equals - -1% the property value 1099-S is only ___ long - -1/3 page A 30th-floor condominium unit with built-in central AC is best described as - -Real property A broker may act as a dual agent; providing - -The broker has written consent of all parties to a transaction A contract for an illegal purpose - -Void contract A contract in which each party promises to do something - -Bilateral Contract A contract in which one party promises to do something if the other party performs a certain act, but the other party does not promise to perform it - -Unilateral Contract A contract that allows someone to possess and use real property for a specified time - -Lease A contract that has been put into words, either spoken or written - -Express Contract A contract that lacks consideration - -Void contract A contract where on transaction depends upon another - -Tie-in Arrangement A court may create this type of easement if an encroachment was open, notorious, hostile, and continuous for a period of years - -Prescriptive easement A home is up for sale at $275,000. A new home that is similar can be built for $250,000. What principle applies? - -The principle of substitution A license to property - -Limited privilege to use land in the possession of the licensor. NOT a property interest; Licenses are contract rights.