Real Estate Practice in Georgia questions and
answers 2024
A broker and a non-licensee went together to buy a piece of property. What is the
minimum that the broker must disclose to the seller?
Select one:
a. Nothing since the broker was only a part owner
b. The exact percentage of the broker's interest in the property
c. The broker would have an interest in the property
d. The broker was acting as a middle-man in the transaction
Feedback - correct answer ✅c. The broker would have an interest in the property
A broker had an exclusive right to sell agency listing. In order to collect the
commission, he must:
Select one:
a. prove he was the procuring agent.
b. prove he was licensed at the time of sale.
c. prove he had a ready, willing and able buyer that met the seller's terms.
d. all of the above. - correct answer ✅b. prove he was licensed at the time of sale.
A broker had several branch offices. Which is true regarding the management?
Select one:
,Real Estate Practice in Georgia questions and
answers 2024
a. He would have to have direct supervision over the main office and branch
offices
b. An Associate Broker can have direct supervision over the branch office
c. A salesperson must have direct supervision over the branch offices
d. Each branch office must have a full-time broker who does NOT sell or list -
correct answer ✅b. An Associate Broker can have direct supervision over the
branch office
A broker may act as a dual agent in which circumstance?
Select one:
a. If the seller is aware of it
b. If the buyer is aware of it
c. If both seller and buyer give prior informed consent
d. Under no circumstances - correct answer ✅c. If both seller and buyer give prior
informed consent
A buyer and a seller, neither of which is under any contract with a real estate
broker, ask a broker to write a contract for them. What should this broker do?
Select one:
, Real Estate Practice in Georgia questions and
answers 2024
a. Act as a transaction broker and may receive compensation
b. Act as a transaction broker but cannot receive any compensation
c. Require the seller to give the broker a listing and pay compensation
d. Require the buyer to give the broker a buyer's listing and pay compensation -
correct answer ✅a. Act as a transaction broker and may receive compensation
A buyer makes an offer on a property with some earnest money now and some to
follow later. What should the licensee do?
Select one:
a. Pay the difference ahead of time to the broker personally
b. Encourage the seller to take the smaller amount of earnest money only
c. Write the offer as is with the extra earnest money to follow later
d. Not present the offer until the extra earnest money is received - correct answer
✅c. Write the offer as is with the extra earnest money to follow later
A buyer signed a contract and gave the broker $5,000 in earnest money. The offer
was accepted by the seller and the earnest money deposited into the broker's
escrow account. The buyer, however, needed $250 to pay for an appraisal. Could
the broker take $250 from the escrow account and give it to the buyer?
Select one:
answers 2024
A broker and a non-licensee went together to buy a piece of property. What is the
minimum that the broker must disclose to the seller?
Select one:
a. Nothing since the broker was only a part owner
b. The exact percentage of the broker's interest in the property
c. The broker would have an interest in the property
d. The broker was acting as a middle-man in the transaction
Feedback - correct answer ✅c. The broker would have an interest in the property
A broker had an exclusive right to sell agency listing. In order to collect the
commission, he must:
Select one:
a. prove he was the procuring agent.
b. prove he was licensed at the time of sale.
c. prove he had a ready, willing and able buyer that met the seller's terms.
d. all of the above. - correct answer ✅b. prove he was licensed at the time of sale.
A broker had several branch offices. Which is true regarding the management?
Select one:
,Real Estate Practice in Georgia questions and
answers 2024
a. He would have to have direct supervision over the main office and branch
offices
b. An Associate Broker can have direct supervision over the branch office
c. A salesperson must have direct supervision over the branch offices
d. Each branch office must have a full-time broker who does NOT sell or list -
correct answer ✅b. An Associate Broker can have direct supervision over the
branch office
A broker may act as a dual agent in which circumstance?
Select one:
a. If the seller is aware of it
b. If the buyer is aware of it
c. If both seller and buyer give prior informed consent
d. Under no circumstances - correct answer ✅c. If both seller and buyer give prior
informed consent
A buyer and a seller, neither of which is under any contract with a real estate
broker, ask a broker to write a contract for them. What should this broker do?
Select one:
, Real Estate Practice in Georgia questions and
answers 2024
a. Act as a transaction broker and may receive compensation
b. Act as a transaction broker but cannot receive any compensation
c. Require the seller to give the broker a listing and pay compensation
d. Require the buyer to give the broker a buyer's listing and pay compensation -
correct answer ✅a. Act as a transaction broker and may receive compensation
A buyer makes an offer on a property with some earnest money now and some to
follow later. What should the licensee do?
Select one:
a. Pay the difference ahead of time to the broker personally
b. Encourage the seller to take the smaller amount of earnest money only
c. Write the offer as is with the extra earnest money to follow later
d. Not present the offer until the extra earnest money is received - correct answer
✅c. Write the offer as is with the extra earnest money to follow later
A buyer signed a contract and gave the broker $5,000 in earnest money. The offer
was accepted by the seller and the earnest money deposited into the broker's
escrow account. The buyer, however, needed $250 to pay for an appraisal. Could
the broker take $250 from the escrow account and give it to the buyer?
Select one:
