GEORGIA REAL ESTATE PRACTICE 52 QUESTIONS & ANSWERS, 100% ACCURATE, GRADED A+/| latest update 2024/25|

GEORGIA REAL ESTATE PRACTICE 52 QUESTIONS & ANSWERS, 100% ACCURATE, GRADED A+/ Legal competency age in Georgia is: a. 15 b. 18 c. 21 d. 16 - -B. What does BRRETA stand for? a. The Brokerage Real Estate Training Act b. The Brokerage Real Estate Transactions Act c. The Brokerage Relationships in Real Estate Transactions Act d. The Georgia Basic Relationships in Real Estate Transactions Act - -C. The Georgia Real Estate Commission is composed of: a. Three brokers, two salespersons, and a district representative and a representative of the public at large. b. Two brokers, two salespersons, and a district representative and a representative of the public at large. c. Six members, five licensees and the sixth member someone with no connection to the real estate industry. d. Eight members, seven licensees and the eighth member someone with no connection to the real estate industry. - -C. What are the license renewal requirements in Georgia for a real estate salesperson and broker? Choose the best answer. a. Hold an active license. b. Hold an active license and complete the appropriate hours of continuing education. c. Just complete 20 hours of commission approved continuing education. d. None, as long as you have had a real estate license within the last ten years. - -B. All of the following are agency relationships in Georgia EXCEPT: a. the attorney-client relationship b. the real estate salesperson-buyer relationship c. the real estate broker-buyer relationship d. none of the above - -B. Under what circumstances can a real estate salesperson conduct closing? a. Never. b. With the signatures of the buyer and seller. c. With the signatures of the buyer, seller and broker. d. Only if a real estate salesperson is also licensed as an attorney. - -D. What steps if any does a salesperson have to take to hold an active license with more than one Georgia broker? a. First they have to be verified by the commission and then by their current broker. b. First they have to be verified by their current broker and then must apply to the second broker. c. No steps. In Georgia, a salesperson may not hold a license with more than one Georgia broker. d. They must send the appropriate paperwork to the commission and after two weeks they will be verified. - -C. According to BRRETA, a brokerage engagement without a termination date will automatically end after: a. 30 Days b. 60 Days c. One Year d. Two Years - -C. If a real estate agent is found guilty of misrepresenting their client and is forced to pay back $10,000 that came from the Georgia Real Estate Education, Research, and Recovery Fund. Can they practice Real Estate again? a. No, once an agent is found guilty of misrepresenting their client by law they can never practice real estate again. b. No, because the amount taken was higher than the minimum recovery fund withdrawal threshold. c. Yes, when the amount is paid back in full not including interest. d. Yes, when the amount is paid back in full as well as the interest. - -D. What is TRUE about an Associate Broker in Georgia? a. An Associate Broker is the same as a salesperson. b. An Associate Broker typically makes less than other re