Barney Fletcher Questions with 100% Correct
Answers
salesperson license requires a
broker
inactive license =
cannot practice real estate
Trust funds must be deposited...
promptly
a licensee cannot receive compensation directly from...
a client
a licensee receives compensation payment from..
the broker
operating without a license can result in
fines and jail time
pre-license course __hr
75
post-license course within first year __hr
25
Ga in a ____ theory state
title
, Ga uses a __ deed
security (Not a mortgage)
Can perform all acts for principal
Universal Agent
perform Ongoing duties
General agent
Performs limited task
Special Agent
Fiduciary Duties include
Obedience, Loyalty, Disclosure, Confidentiality, Accounting, Reasonable Care
BRRETA stands for
Brokerage Relationship in Real Estate Transactions Act
Client
Has agency relationship
Customer
no agency relationship
Transaction Broker
Assists both parties but represents neither
A valid contract requires
Competent parties, Mutual agreement, Legal purpose, Consideration
Answers
salesperson license requires a
broker
inactive license =
cannot practice real estate
Trust funds must be deposited...
promptly
a licensee cannot receive compensation directly from...
a client
a licensee receives compensation payment from..
the broker
operating without a license can result in
fines and jail time
pre-license course __hr
75
post-license course within first year __hr
25
Ga in a ____ theory state
title
, Ga uses a __ deed
security (Not a mortgage)
Can perform all acts for principal
Universal Agent
perform Ongoing duties
General agent
Performs limited task
Special Agent
Fiduciary Duties include
Obedience, Loyalty, Disclosure, Confidentiality, Accounting, Reasonable Care
BRRETA stands for
Brokerage Relationship in Real Estate Transactions Act
Client
Has agency relationship
Customer
no agency relationship
Transaction Broker
Assists both parties but represents neither
A valid contract requires
Competent parties, Mutual agreement, Legal purpose, Consideration
