Georgia Real Estate Broker

In its capacity to administer the License Law as created by Georgia statute, the Real Estate Commission may A) only pass rules and regulations based on License Law. With regard to the organization and operation of the Georgia Real Estate Commission, which of the following is TRUE? A) Five of the six Commission members must have active real estate licenses for at least five years. What matter(s) may be resolved when the Real Estate Commission issues a declaratory ruling? A) Whether or not the Commission decides that an existing Rule or Regulation applies to a particular situation as set forth in any person's written, notarized request The Real Estate Commission operates as a budget unit of Georgia assigned to the office of the Secretary of State, and as such D) the costs to conduct the Commission's operations must be equal to those fees the Commission charges to and receives from licensees. Which of the following statements would be accurate with regard to an individual residing in another state, who holds a broker's license in that state, and who wishes to acquire a broker's license in Georgia? D) That individual may acquire a nonresident broker's license in Georgia through a reciprocity agreement that exempts the applicant from educational and exam requirements. Standard requirements for a Broker's license in Georgia would include D) evidence that the candidate in three of the five years immediately prior to making application has held an active real estate license. The Real Estate Commission would issue a brokerage license to a firm under the condition that B) if the firm is set up as a sole proprietorship, the qualifying broker must be the owner of the entire company When a candidate for a salesperson licensure passes the qualifying state exam D) the candidate may make a formal license application within three months of the exam date, pay regular license fees, and then place the license on active or inactive status. A license may lapse for nonpayment of fees or failure to complete certain educational requirements within the time allowed by the Laws and Rules. Under these circumstances, which of the following statements is accurate? C) A lapsed license may be reinstated, if within two years, the licensee pays the reinstatement fee and all other fees due, as long as long as all CE requirements have been met.