BARNEY FLETCHER CRAM FINAL ACTUAL
QUESTIONS WITH VERIFIED SOLUTIONS
◉ What type of transaction exists when there is a written contract
for a broker to receive pay from both or either party and performs
only ministerial acts for one or both parties?
A. double agency
B. transaction brokerage
C. sub agency
D. single agency.
Answer: B. transaction brokerage
◉ When is the correct time for the salesperson to get the proper
legal description of the seller's property?
A. when filling out the offer
B. when filling out the sales contract
C. when filling out the listing
D. any time before closing.
Answer: C. when filling out the listing
,◉ Sue acquires an option to buy a tract of land from Pete. which of
the following is NOT true?
A. Sue is the optionee and Pete is the optionor
B. the property may be purchased at the discretion of the optionee
C. Pete may not diminish the value of the property (waste) during
the period the option is in effect
D. Pete may not sell the property to anyone else during the period
the option is in effect.
Answer: D. Pete may not sell the property to anyone else during the
period the option is in effect
◉ The contract signed between a buyer and a broker is called?
A. listing contract
B. buyer's brokerage agreement
C. listing agreement
D. buyer's relationship.
Answer: B. buyer's brokerage agreement
◉ Typically in Georgia, the agent representing the seller is called?
A. the selling agent
,B. the listing agent
C. the sub agent
D. the listing broker.
Answer: D. the listing broker
◉ Which documents must be in writing to be enforceable according
to the statute of frauds?
A. leases over a year old
B. real estate sales contracts
C. deeds
D. all of the above.
Answer: D. all of the above
◉ Seller Jane negotiates a sales contract with buyer Bill, but before
signing the contract, she contacts buyer Mike to see if he wants to
buy it before Bill does. Mike probably had:
A. an option
B. a right of first refusal
C. a listing agreement
D. both B and C.
, Answer: B. a right of first refusal
◉ Which of the following actions is the Georgia Real Estate
Commission (GREC) authorized to carry out through the provisions
of the Georgia Real Estate Law?
A. fine an individual up to $5,000 operating in the capacity of a
broker, without a license
B. fine a broker up to $1,000 for multiple violations
C. fine a licensee up to $5,000 for one conviction of moral turpitude
D. refuse to issue a license to an applicant who falsified an
application.
Answer: D. refuse to issue a license to an applicant who falsified an
application
◉ In dual agency, the consent form must contain all of the following
except?
A. a lot and block legal description of the property
B. a statement that the client does not have to consent to the dual
agency
C. a statement that the agent will disclose all adverse known
material facts
D. a statement that the agent will disclose any material relationships.
QUESTIONS WITH VERIFIED SOLUTIONS
◉ What type of transaction exists when there is a written contract
for a broker to receive pay from both or either party and performs
only ministerial acts for one or both parties?
A. double agency
B. transaction brokerage
C. sub agency
D. single agency.
Answer: B. transaction brokerage
◉ When is the correct time for the salesperson to get the proper
legal description of the seller's property?
A. when filling out the offer
B. when filling out the sales contract
C. when filling out the listing
D. any time before closing.
Answer: C. when filling out the listing
,◉ Sue acquires an option to buy a tract of land from Pete. which of
the following is NOT true?
A. Sue is the optionee and Pete is the optionor
B. the property may be purchased at the discretion of the optionee
C. Pete may not diminish the value of the property (waste) during
the period the option is in effect
D. Pete may not sell the property to anyone else during the period
the option is in effect.
Answer: D. Pete may not sell the property to anyone else during the
period the option is in effect
◉ The contract signed between a buyer and a broker is called?
A. listing contract
B. buyer's brokerage agreement
C. listing agreement
D. buyer's relationship.
Answer: B. buyer's brokerage agreement
◉ Typically in Georgia, the agent representing the seller is called?
A. the selling agent
,B. the listing agent
C. the sub agent
D. the listing broker.
Answer: D. the listing broker
◉ Which documents must be in writing to be enforceable according
to the statute of frauds?
A. leases over a year old
B. real estate sales contracts
C. deeds
D. all of the above.
Answer: D. all of the above
◉ Seller Jane negotiates a sales contract with buyer Bill, but before
signing the contract, she contacts buyer Mike to see if he wants to
buy it before Bill does. Mike probably had:
A. an option
B. a right of first refusal
C. a listing agreement
D. both B and C.
, Answer: B. a right of first refusal
◉ Which of the following actions is the Georgia Real Estate
Commission (GREC) authorized to carry out through the provisions
of the Georgia Real Estate Law?
A. fine an individual up to $5,000 operating in the capacity of a
broker, without a license
B. fine a broker up to $1,000 for multiple violations
C. fine a licensee up to $5,000 for one conviction of moral turpitude
D. refuse to issue a license to an applicant who falsified an
application.
Answer: D. refuse to issue a license to an applicant who falsified an
application
◉ In dual agency, the consent form must contain all of the following
except?
A. a lot and block legal description of the property
B. a statement that the client does not have to consent to the dual
agency
C. a statement that the agent will disclose all adverse known
material facts
D. a statement that the agent will disclose any material relationships.
