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GA REAL ESTATE EXPRESS FINAL EXAM REVIEW QUESTIONS AND ANSWERS, GRADED A+/ Under the _______ of recording, title passes when the conveyance is registered on the title certificate. - -Torrens System Non-judicial foreclosure is required to foreclose on a - -Deed of Trust A broker induces an owner to sell by telling him that Muslims are moving into the neighborhood. This broker is guilty of - -Blockbusting What type of agency cannot be revoked by the principal, nor is terminated if the pri...

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 prov...

GA REAL ESTATE FINANCE EXAM REVIEW QUESTIONS AND ANSWERS, RATED A+/ real estate loans are customarily evidenced by 2 instruments: a promissory note and a security instrument. while the security instrument isnt negotiable the note is, because... - -the right to receive payments may be transferred from holder to holder a straight loan is characterized by: - -interest only payments until the end of term when principal is due in a lump sum which organizations insures mortgage loans? - -Fe...

GA REAL ESTATE LICENSE EXAM REVIEW QUESTIONS AND ANSWERS, GRADED A+. VERIFIED. Georgia Real Estate Commission size - -6 members Georgia Real Estate Commission appointed by - -Governor of Georgia Georgia Real Estate Commission confirmed by - -Georgia state senate How long are each of the Georgia Real Estate Commission members' terms? - -5 years How many members of the 6-member Georgia Real Estate commission must be real estate licensees? - -5 Does the sixth member of the Georgia Real Es...

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? ...

GA REAL ESTATE MIDTERM EXAM REVIEW QUESTIONS AND ANSWERS, 100% ACCURATE, GRADED A+/ A lien against all of the person's real and personal property owned - -General Lien A factor used to achieve uniformity in statewide tax assessments - -Equalization Factor A writ that establishes court custody of property until a pending lawsuit concludes - -Writ of Attachment A type of lien created by law - -Involuntary Lien A written agreement between lien holders to change the priority of a lien - -S...

GA REAL ESTATE PRACTICE QUESTIONS & ANSWERS, GRADED A+/ VERIFIED. What fines may be imposed by the Commission for rules violations? - -A maximum of $1,000 for a single offence or $5,000 for multiple violations Charging advance brokerage fees is - -a duty of a broker. Agency can best be described as - -a written representation agreement between broker and client. Which is true concerning the Commission Chairperson? - -He is appointed by the Commission members annually. The Georgia Real...

GA REAL ESTATE PRE-LICENSE COURSE REVIEW QUESTIONS AND ANSWERS, 100% ACCURATE, VERIFIED. Agency - -every relationship in which a real estate broker acts for or represents another as a client by the latter's written authority in a real property transaction associate broker - -a person who acts on behalf of a real estate broker in performing any act authorized to be performed by a broker broker does the following: - -*negotiates or attempts to negotiate listing, sale, purchase, exchange,...

GA REAL ESTATE TEST CHAPTER 3 QUESTIONS AND ANSWERS, GRADED A+/ VERIFIED. If there is no indication in the deed as to how co owners are taking title, the law presumes the parties intended to own property as - -tenants in common ownership of real estate for such things as schools, roads, parks and military installations - -public ownership A tenancy in common form of ownership entitles each co tenant to - -An equal interest in the land ownership by 1 person or a single entity - -several...

GA REAL ESTATE – AGENCY EXAM REVIEW QUESTIONS AND ANSWERS, GRADED A+/ VERIFIED. Licensee - -Anyone with a Real Estate license Inactive Licensees - -Not agents How does an agent remain inactive? - -By paying the renewal fee How does and agent activate their license? - -Taking 9 hours of continuing education for each year the license was inactive. Active licensee - -are all agents How many brokers are allowed per firm? - -One active (qualifying broker) how old does a broker have to be...

GEORGIA PRINCIPLES OF REAL ESTATE 1, QUESTIONS AND ANSWERS, 100% ACCURATE, GRADED A+/ Bundle of Rights - -Right to possess Right to control within legal limits Right to enjoy Right to exclude others from entering Right to encumber Right to dispose by sale or Transfer Surface Rights - -Right to control, occupy and use the surface area of a parcel of real estate, including building of improvements and growing crops Air Rights - -Legal right to control occupy or use airspace above a pa...

GEORGIA REAL ESTATE CLASS FINAL EXAM REVIEW QUESTIONS AND ANSWERS, 100% ACCURATE, VERIFIED. When you list an owner's property for sale you owe them client level services, fiduciary services which include - -confidentiality, loyalty, obedience, full disclosure a recent appraisal on a property reveals that a home has a leaking roof, dirty carpeting, updated granite countertops, central heat and air, a full basement, but the home is affected by a busy highway. What type of depreciation do...

GEORGIA REAL ESTATE EXAM PREP. QUESTIONS & ANSWERS. 100% ACCURATE, VERIFIED. Angie owns a four-plex. She lives in one unit and rents out the others - -Which of the following may represent an exemption from Georgia fair housing laws Kiting - -Representing the sale price on a home as an amount greater than what it actually sold for is considered Providing financing for diverse housing communities - -Which is NOT a focus of Georgia's Fair Housing Division Conducting an appraisal of the...

GEORGIA REAL ESTATE EXAM REVIEW PART A| EXAM REVIEW QUESTIONS AND ANSWERS, 100% ACCURATE, VERIFIED. Which of the following are appointed by the governor? A. Members of the Georgia Real Estate Commission. B. The Real Estate Commissioner. C. Real estate instructors. D. Georgia Real Estate Commission employees. - ->> CORRECT ANSWER IS: A >> YOUR ANSWER IS: A Members of the Georgia Real Estate Commission are appointed by the governor. The Real Estate Commissioner is an employe...

GEORGIA REAL ESTATE EXAM REVIEW QUESTIONS AND ANSWERS, GRADED A+. VERIFIED. Appurtenant Easement - -The permanent right to use another's land. Easements for adjacent properties or neighbors, which run with the land. Most protection. Abstract of Title - -A history of All recorded instruments Affecting the title to a piece of land. Statute of Frauds - -A state statute under which certain types of contracts must be in writing to be enforceable. Statute of Limitations - -A federal or stat...

PSI EXAM PREP: CONTRACTS QUESTIONS AND ANSWERS, 100% ACCURATE, GRADED A+/ what requires that certain types of contracts, such as for a property ownership transfer, be in writing to be legally enforceable and to prevent injury from fraudulent conduct. - -The statute of frauds Is an oral contract enforceable in court? - -no Offer and acceptance Consideration Legally competent parties Legal purpose Made voluntarily are all what - -needed for a valid contract what occurs when the parties...

GEORGIA REAL ESTATE EXAM REVIEW QUESTIONS AND ANSWERS, GRADED A+/ VERIFIED. Title - -Document that shows ownership Alienation - -To sell or convey Transfer: change of ownership Legal Title - -Ownership with right of possession and use Equitable Title - -Right to legal title upon completion of contract Buyer receives after they go into contract until seller meets all buyer's needs also closing costs Bare (naked) Title - -Ownership without possession rights or use Some states use a th...

GEORGIA REAL ESTATE EXAM REVIEW QUESTIONS AND ANSWERS, GRADED A+/ VERIFIED. Deed - -Document used to transfer title. Title - -Land+ deed, (who are the owners and what are their rights?) Real Estate - -Land+appurtenances (right or improvement attached to the land) Two types of characteristics of land: - -Physical & economic What are the physical characteristics of land? - -Immovable, indestructible,unique(non-homogenous) What are the economic characteristics of land? - -Scarcity, improvab...

GEORGIA REAL ESTATE EXAM REVIEW QUESTIONS AND ANSWERS, GRADED A+/ VERIFIED. Accrued interest on loan assumed. - -Which of the following costs is usually a credit on the estimated purchaser's cost worksheet? Hazard insurance is - -prepaid in advance negotiable between the buyer and seller - -The payment of the intangibles taxes are: If neither Baird or Carr are licensed as brokers, a qualifying broker must be hired and must be named as an officer of the corporation - -Licensees Baird a...

GEORGIA REAL ESTATE EXAM REVIEW QUESTIONS | ANSWERED. GRADED A+/ Easement by prescription - -Easement acquired by continuous open and hostile use of the property for the period of time prescribed by state law Easement by necessity - -Easement allowed by law as necessary for the full enjoyment of parcel of real estate .(right of ingress and egress over a grantors land) Rescission - -The practice of one party canceling or terminating a contract. Mortgagee - -The bank(receiving the house)...