GA REAL ESTATE EXAMINATION PREP
SHEET 2026 FULLY SOLVED GRADED A+
◍ Gratuitous Agency. Answer: An Agent may agree to work for no
compensation
◍ Universal Agent. Answer: Authorized to perform "any" act the
principal could perform
◍ General Agent. Answer: Authorized to bind the principal in the
ongoing conduct of a "particular business."
◍ Special "Limited" Agent. Answer: Appointed for a "particular
purpose" or to act on a particular occasion.
◍ Agent. Answer: is a broker
◍ Actual Agency. Answer: The parties to the agreement have entered
into the relationship intentionally in writing or oral
◍ Ostensible Agency. Answer: A "3rd parties" relies on the principal
expressed or implied representation that a particular person is his/her
agent, even though no such agreement ever existed
, ◍ Implied Agency. Answer: Arise when a broker showing property to
a prospective buyer by words and actions cause the buyer to feel the
broker is acting on his behalf when in fact that is not the broker's
intention
◍ Power of Attorney. Answer: is a document frequently used to
authorize on person to act on behalf of another. (A piece of paper)
◍ Attorney-in-fact. Answer: one who has the authority to act on
behalf of another under a power of attorney
◍ Agents Obligations to the Principal. Answer: Personal Performance
Obedience
Loyalty
Accountability
Notice
Due care
◍ Would it be disloyal for a property manager to accept fees or
kickbacks from contractors without the owner's knowledge?. Answer:
Yes, a broker cannot receive any additional profit over and above the
commission without the knowledge of and consent of the seller
◍ Would is be disloyal to delay in presenting an offer in th hope that a
better one might come in?. Answer: Yes, the decision to accept or
reject an offer is up to the seller. A broker cannot refuse to present any
offers. Broker must present ALL offers.
SHEET 2026 FULLY SOLVED GRADED A+
◍ Gratuitous Agency. Answer: An Agent may agree to work for no
compensation
◍ Universal Agent. Answer: Authorized to perform "any" act the
principal could perform
◍ General Agent. Answer: Authorized to bind the principal in the
ongoing conduct of a "particular business."
◍ Special "Limited" Agent. Answer: Appointed for a "particular
purpose" or to act on a particular occasion.
◍ Agent. Answer: is a broker
◍ Actual Agency. Answer: The parties to the agreement have entered
into the relationship intentionally in writing or oral
◍ Ostensible Agency. Answer: A "3rd parties" relies on the principal
expressed or implied representation that a particular person is his/her
agent, even though no such agreement ever existed
, ◍ Implied Agency. Answer: Arise when a broker showing property to
a prospective buyer by words and actions cause the buyer to feel the
broker is acting on his behalf when in fact that is not the broker's
intention
◍ Power of Attorney. Answer: is a document frequently used to
authorize on person to act on behalf of another. (A piece of paper)
◍ Attorney-in-fact. Answer: one who has the authority to act on
behalf of another under a power of attorney
◍ Agents Obligations to the Principal. Answer: Personal Performance
Obedience
Loyalty
Accountability
Notice
Due care
◍ Would it be disloyal for a property manager to accept fees or
kickbacks from contractors without the owner's knowledge?. Answer:
Yes, a broker cannot receive any additional profit over and above the
commission without the knowledge of and consent of the seller
◍ Would is be disloyal to delay in presenting an offer in th hope that a
better one might come in?. Answer: Yes, the decision to accept or
reject an offer is up to the seller. A broker cannot refuse to present any
offers. Broker must present ALL offers.
