Colibri Real Estate Final Exam Questions
And Answers Graded A+.
1.aAllasixamembersaofatheaGeorgiaaRealaEstateaCommissionaareaappointedabya-
acorrectaanswer.aaaaTheaGovernoraofaGeorgia
Howamanyacommissionamembersamustabealicenseda-
acorrectaanswer.aaaaFiveaofatheasixamembersaofatheaGeorgiaaRealaEstateacanahavealicense
saOneamustabeaanaunlicensedamemberaofathea"ageneralapublica3.aEARLNOTES
Whatamustahappenawithaallafundsainaaasalea-
acorrectaanswer.aaaaAllamoneyathatabelongsatoaclientsaoracustomersamustabeadepositedainat
heabrokerageatrustafundaasasoonaasapossibleaASAPaafterareceipta.
Whataisatheaprocedureaforalicenseaexpirationa-
acorrectaanswer.aaaaWhenaaalicenseahasabeenalapsedaforamoreathanatwoayearsabutalessatha
nafiveayearsatheaformeralicenseeamayarequestareinstatementaandaretakeaaa75a-ahouraprea-
alicenseacoursea.aAfteratenayearsatheaformeralicenseeamustafollowatheaprocedureaforanewaa
pplicantsa.
Whichadescrihesadualaagencya-
acorrectaanswer.aaaaWhenaaabrokeraappointsaoneaofahisaagentsatoaserveatheaselleraandaone
atoaserveatheabuyera,atheyaareacalledadesignatedaagentsaandatheabrokerawillaserveaasaaadu
alaagenta.
Whatahappensawhenasomeonearecievesamistreatmentafromaaarealaestatealicenseea-
acorrectaanswer.aaaaWhenaaaconsumeraoraclienta(anotaanotheralicenseeaoraaarelativeaofathea
accusedalicenseea)aisafinanciallyadamagedabyatheaactionsaofaaalicenseea,aheaorasheacanafil
ea,athroughatheacourtaaaclaimaagainstatheaGeorgiaaRealaEstateaEducationa,aResearchaanda
RecoveryaFundaforareimbursementaupatoa$a25,000aperatransactiona.
ForaaabrokerageaoraanyalicenseeaunderaaamanagingabrokeratoabeaconsideredaaaDualaAge
nta,ahea/asheamusta-
acorrectaanswer.aaaaobtainawrittenapermissionafromabothatheaselleraandatheabuyerabeforeaac
tingaonabehalfaofaeitherapartya.aBIRTHaMONTHS
, Whenaarearenewaladeadlinesaforalicenseesa-
acorrectaanswer.aaaaAllarenewaladeadlinesaforalicensesaareasetaforathealastadayaofathealicens
ee'sabirthamonthaeveryafourafullayearsa.a(aThealicensee'safirstarenewalaperiodamayabealonge
ra,adependingaonawhenathealicenseawasaobtaineda.aItastartsathealastadayaofatheabirthamontha
thataarrivesaafterathealicenseaisaobtaineda)a.
Whataisatheatrainingahoursarequiredaforalicenseesa-
acorrectaanswer.aaaaAssumingaaalicenseeahasacompetedathea25a-
ahouraGAaPostaLicenseaCourseaduringatheafirstayearaofalicensurea)a,aheawillareceiveacreditaf
ora9ahoursaofaContinuingaeducationaandawillaonlyaneedatoacompletea27ahoursaofaCEaduring
athearestaofathealicensee'safirstalicensureaperioda.aForatheasecondafoura-
ayearaperiodaandaeacharenewalathereaftera.athearequirementaisa36ahoursaofaCE.
Ifaaabuyeraclientawishesatoawithdrawafromaaacontractaandagetahahisaearnestamoneyareturne
datheasalespersonamusta-
acorrectaanswer.aaaaREFERatheaissueatoatheaEMPLOYINGaoramanagingaBROKERaforaaade
cision
Whenaeveryaoriginalalicenseafeeaisareceiveda,aofatheafundsareceiveda_____fromaeachalicen
seafeeaisaallocatedatoafundatheaREaEducationa,aResearchaandaRecoveryaFunda-
acorrectaanswer.aaaa20$
Theaclauseainaanaagencyaagreementausedatoasafeguardatheabrokerafromaunscrupulousabu
yersaorasellersa,awhoawouldatakeatheabroker'sageneratedaleadsa,abutathenabuyaorasellatheapr
opertyaonceathealistingaagreementahasaexpiredainaorderatoaavoidapayingatheacommissionat
oathealicenseeaisaknownaasa-
acorrectaanswer.aaaaTheaSafetyaoraCarryoveraExtenderaClausea.
UnderaGAaLawa,aaalistingabrokera-
acorrectaanswer.aaaadoesanotahaveatoashareahisasalesacommissionawithatheasellingabrokera
whoahasaprocuredatheaultimateabuyer,athisaisalegalaandanotaagainstaGAarealaestatealaw.
Everyabrokerageamustamaintaina-
acorrectaanswer.aaaaanaaccountingasystematoadetailaallareceiptsaandadepositsareceivedafro
maothersathataareaunderatheacontrolaofatheabrokerage.
Whenatwoapeopleawantatoasimplyaexchangeaoneapropertyaforaforaanothera,atheapersonawh
oahandlesatheadetailsaforaaafeeamustahavea-
acorrectaanswer.aaaaeitheraaarealaestatealicenseaoraaalawalicense
MembersaofatheaGeorgiaaRealaEstateaCommissionaservea-
acorrectaanswer.aaaa5ayearaterms
Wheneveraaapropertyaowneraengagesaaalicenseeatoalistalistapropertyaforasaleawhereatheaco
mmissionaisanotaaapreasetapercentageaorasimpleadollaravalueabutawillabeaallafundsathanare
And Answers Graded A+.
1.aAllasixamembersaofatheaGeorgiaaRealaEstateaCommissionaareaappointedabya-
acorrectaanswer.aaaaTheaGovernoraofaGeorgia
Howamanyacommissionamembersamustabealicenseda-
acorrectaanswer.aaaaFiveaofatheasixamembersaofatheaGeorgiaaRealaEstateacanahavealicense
saOneamustabeaanaunlicensedamemberaofathea"ageneralapublica3.aEARLNOTES
Whatamustahappenawithaallafundsainaaasalea-
acorrectaanswer.aaaaAllamoneyathatabelongsatoaclientsaoracustomersamustabeadepositedainat
heabrokerageatrustafundaasasoonaasapossibleaASAPaafterareceipta.
Whataisatheaprocedureaforalicenseaexpirationa-
acorrectaanswer.aaaaWhenaaalicenseahasabeenalapsedaforamoreathanatwoayearsabutalessatha
nafiveayearsatheaformeralicenseeamayarequestareinstatementaandaretakeaaa75a-ahouraprea-
alicenseacoursea.aAfteratenayearsatheaformeralicenseeamustafollowatheaprocedureaforanewaa
pplicantsa.
Whichadescrihesadualaagencya-
acorrectaanswer.aaaaWhenaaabrokeraappointsaoneaofahisaagentsatoaserveatheaselleraandaone
atoaserveatheabuyera,atheyaareacalledadesignatedaagentsaandatheabrokerawillaserveaasaaadu
alaagenta.
Whatahappensawhenasomeonearecievesamistreatmentafromaaarealaestatealicenseea-
acorrectaanswer.aaaaWhenaaaconsumeraoraclienta(anotaanotheralicenseeaoraaarelativeaofathea
accusedalicenseea)aisafinanciallyadamagedabyatheaactionsaofaaalicenseea,aheaorasheacanafil
ea,athroughatheacourtaaaclaimaagainstatheaGeorgiaaRealaEstateaEducationa,aResearchaanda
RecoveryaFundaforareimbursementaupatoa$a25,000aperatransactiona.
ForaaabrokerageaoraanyalicenseeaunderaaamanagingabrokeratoabeaconsideredaaaDualaAge
nta,ahea/asheamusta-
acorrectaanswer.aaaaobtainawrittenapermissionafromabothatheaselleraandatheabuyerabeforeaac
tingaonabehalfaofaeitherapartya.aBIRTHaMONTHS
, Whenaarearenewaladeadlinesaforalicenseesa-
acorrectaanswer.aaaaAllarenewaladeadlinesaforalicensesaareasetaforathealastadayaofathealicens
ee'sabirthamonthaeveryafourafullayearsa.a(aThealicensee'safirstarenewalaperiodamayabealonge
ra,adependingaonawhenathealicenseawasaobtaineda.aItastartsathealastadayaofatheabirthamontha
thataarrivesaafterathealicenseaisaobtaineda)a.
Whataisatheatrainingahoursarequiredaforalicenseesa-
acorrectaanswer.aaaaAssumingaaalicenseeahasacompetedathea25a-
ahouraGAaPostaLicenseaCourseaduringatheafirstayearaofalicensurea)a,aheawillareceiveacreditaf
ora9ahoursaofaContinuingaeducationaandawillaonlyaneedatoacompletea27ahoursaofaCEaduring
athearestaofathealicensee'safirstalicensureaperioda.aForatheasecondafoura-
ayearaperiodaandaeacharenewalathereaftera.athearequirementaisa36ahoursaofaCE.
Ifaaabuyeraclientawishesatoawithdrawafromaaacontractaandagetahahisaearnestamoneyareturne
datheasalespersonamusta-
acorrectaanswer.aaaaREFERatheaissueatoatheaEMPLOYINGaoramanagingaBROKERaforaaade
cision
Whenaeveryaoriginalalicenseafeeaisareceiveda,aofatheafundsareceiveda_____fromaeachalicen
seafeeaisaallocatedatoafundatheaREaEducationa,aResearchaandaRecoveryaFunda-
acorrectaanswer.aaaa20$
Theaclauseainaanaagencyaagreementausedatoasafeguardatheabrokerafromaunscrupulousabu
yersaorasellersa,awhoawouldatakeatheabroker'sageneratedaleadsa,abutathenabuyaorasellatheapr
opertyaonceathealistingaagreementahasaexpiredainaorderatoaavoidapayingatheacommissionat
oathealicenseeaisaknownaasa-
acorrectaanswer.aaaaTheaSafetyaoraCarryoveraExtenderaClausea.
UnderaGAaLawa,aaalistingabrokera-
acorrectaanswer.aaaadoesanotahaveatoashareahisasalesacommissionawithatheasellingabrokera
whoahasaprocuredatheaultimateabuyer,athisaisalegalaandanotaagainstaGAarealaestatealaw.
Everyabrokerageamustamaintaina-
acorrectaanswer.aaaaanaaccountingasystematoadetailaallareceiptsaandadepositsareceivedafro
maothersathataareaunderatheacontrolaofatheabrokerage.
Whenatwoapeopleawantatoasimplyaexchangeaoneapropertyaforaforaanothera,atheapersonawh
oahandlesatheadetailsaforaaafeeamustahavea-
acorrectaanswer.aaaaeitheraaarealaestatealicenseaoraaalawalicense
MembersaofatheaGeorgiaaRealaEstateaCommissionaservea-
acorrectaanswer.aaaa5ayearaterms
Wheneveraaapropertyaowneraengagesaaalicenseeatoalistalistapropertyaforasaleawhereatheaco
mmissionaisanotaaapreasetapercentageaorasimpleadollaravalueabutawillabeaallafundsathanare
