Real Estate U
Georgia Exam
Questions and
Complete Solutions
Graded A+
Denning [Date] [Course title]
,Single family homes are? - Answer: Private freestanding residential houses.
Property types are generally categorized by the ...... that applies to that property. - Answer: Zoning laws
Schools and churches are considered....... Properties? - Answer: Special purpose
A lack of supply is known as? - Answer: scarcity
Candidates taking a licensee exam who are eligible active duty military and reserve personnel receive
a...? - Answer: 5 point credit
If you've been subject to disciplinary actions for any licensing agency all the following info must be taken
before applying for a real estate license in Georgia, Except? - Answer: Provide a copy of his license in
the associated jurisdiction.
Every sales person has to provide the commission with evidence that they completed a ...... post license
course within 1 year of obtaining their license. - Answer: 25-hours
If a broker's renewal fees aren't paid, what happens to the licenses of the licensees working under the
broker? - Answer: All licenses for licenses under the broker will lapse
........... involves licensees with property management relationships with their clients. Any written
property management agreement must identify the property being managed and list the terms and
conditions of the manager's responsibility. - Answer: Management agreements
The Commission keeps electronic licensing records for...? - Answer: 15 years
The activation fee to apply for a license as an individual or associate broker, salesperson, or community
association manager is.......... The activation fee for a new firm, school, or instructor is ........ Both fees
include $20 toward the real estate education, research and Recovery fund - Answer: $45/$75
, ....... Suspended due to nonpayment or failure to meet educational requirements costs $100 if submitted
within 4 months of the lapse. - Answer: Reinstating a license
Members of the Georgia Real Estate Commission are? - Answer: Appointed by the governor
After your license has been denied or suspended you can? - Answer: Appeal to the commission and
then ask for a judicial review if you are not satisfied with the outcome.
One benefit of buying a home is...? - Answer: Long-term appreciation
Many factors can increase or reduce monthly mortgage payments. Assume that a buyer is planning to
buy a $150,000 home, and any loan payments will NOT include closing costs or insurance. Which
scenario will produce the highest monthly payment? - Answer: Taking out a 20 year fixed rate private
owner mortgage at 4.25% with 5% down.
Mark is trying to decide if he should rent or own a home. His job requires that he travels, sometimes
even for long periods of time. As Mark's real estate agent, what should you suggest to Mark? - Answer:
He should rent a home, as it offers more flexibility.
Loan Origination Fees are usually equal to or less then........ percent of the total loan amount. - Answer:
1 (one)
Katie owns 100 percent of her home and wants to add a small kitchen to a master suite to create a mini
apartment she can rent out to help defray the costs of owning her home. Can she still deduct all eligible
expenses as personal home expenses? - Answer: No. Renting a portion of a home that can be
considered a complete home, makes some expenses ineligible.
The monetary gain resulting from the increase in the market value of an investment, excluding additions
of capital, is known as.....? - Answer: Appreciation
This refers to the trade or exchange of one real property for another without the need to pay income
taxes on the gain at the time of trade? - Answer: Tax-deferred exchange
Georgia Exam
Questions and
Complete Solutions
Graded A+
Denning [Date] [Course title]
,Single family homes are? - Answer: Private freestanding residential houses.
Property types are generally categorized by the ...... that applies to that property. - Answer: Zoning laws
Schools and churches are considered....... Properties? - Answer: Special purpose
A lack of supply is known as? - Answer: scarcity
Candidates taking a licensee exam who are eligible active duty military and reserve personnel receive
a...? - Answer: 5 point credit
If you've been subject to disciplinary actions for any licensing agency all the following info must be taken
before applying for a real estate license in Georgia, Except? - Answer: Provide a copy of his license in
the associated jurisdiction.
Every sales person has to provide the commission with evidence that they completed a ...... post license
course within 1 year of obtaining their license. - Answer: 25-hours
If a broker's renewal fees aren't paid, what happens to the licenses of the licensees working under the
broker? - Answer: All licenses for licenses under the broker will lapse
........... involves licensees with property management relationships with their clients. Any written
property management agreement must identify the property being managed and list the terms and
conditions of the manager's responsibility. - Answer: Management agreements
The Commission keeps electronic licensing records for...? - Answer: 15 years
The activation fee to apply for a license as an individual or associate broker, salesperson, or community
association manager is.......... The activation fee for a new firm, school, or instructor is ........ Both fees
include $20 toward the real estate education, research and Recovery fund - Answer: $45/$75
, ....... Suspended due to nonpayment or failure to meet educational requirements costs $100 if submitted
within 4 months of the lapse. - Answer: Reinstating a license
Members of the Georgia Real Estate Commission are? - Answer: Appointed by the governor
After your license has been denied or suspended you can? - Answer: Appeal to the commission and
then ask for a judicial review if you are not satisfied with the outcome.
One benefit of buying a home is...? - Answer: Long-term appreciation
Many factors can increase or reduce monthly mortgage payments. Assume that a buyer is planning to
buy a $150,000 home, and any loan payments will NOT include closing costs or insurance. Which
scenario will produce the highest monthly payment? - Answer: Taking out a 20 year fixed rate private
owner mortgage at 4.25% with 5% down.
Mark is trying to decide if he should rent or own a home. His job requires that he travels, sometimes
even for long periods of time. As Mark's real estate agent, what should you suggest to Mark? - Answer:
He should rent a home, as it offers more flexibility.
Loan Origination Fees are usually equal to or less then........ percent of the total loan amount. - Answer:
1 (one)
Katie owns 100 percent of her home and wants to add a small kitchen to a master suite to create a mini
apartment she can rent out to help defray the costs of owning her home. Can she still deduct all eligible
expenses as personal home expenses? - Answer: No. Renting a portion of a home that can be
considered a complete home, makes some expenses ineligible.
The monetary gain resulting from the increase in the market value of an investment, excluding additions
of capital, is known as.....? - Answer: Appreciation
This refers to the trade or exchange of one real property for another without the need to pay income
taxes on the gain at the time of trade? - Answer: Tax-deferred exchange
