The CE Shop: Georgia State Exam
Practice Questions and Answers 100%
Pass
The Real Estate Education, Research, and Recovery Fund Exists for the
Benefit of whom?
-Agents with low sales volume
-Brokers who pay out commissions
-GREC members
-The public - ✔✔*The public*
Who, or which entity, appoints the members of the Georgia Real Estate
Commission?
-Georgia real estate association members
1
©NINJANERD 2024/2025. YEAR PUBLISHED 2024.
,-The Georgia governor
-The mayors of every city in Georgia, through a vote
-The public, by election - ✔✔*The Georgia Governor*
*How's the Georgia intangible tax computed?*
-it's a flat $10 fee for any mortgage subject to the Georgia Residential
Mortgage Act
-It's based on .1% of the sales price
-It's based on the amount borrowed, and is $1.50 per each $500 or
fractional part thereof, with a maximum of $25,000
-It's based on the sales price, and is $1.50 per each $500 or a fractional
part thereof with a maximum of $25,000 - ✔✔*It's based on the amount
borrowed, and is $1.50 per each $500 or fractional part thereof, with a
maximum of $25,000*
2
©NINJANERD 2024/2025. YEAR PUBLISHED 2024.
,The intangible tax is based on the loan amount and is $1.50 per each $500
or fractional part thereof with a maximum of $25,000
In Georgia, upon what amount is the transfer tax calculated?
-Appraisal Amount
-Down Payment Amount
-Loan Amount
-Sales Price - ✔✔*Sales Price*
Krista is obtaining a loan to buy a home. Her loan agreement consists of
one document called a note and one called a deed of trust. What's the role
of the note?
-Conveys legal title to the property to the lender
-Describes the home requiring the loan
3
©NINJANERD 2024/2025. YEAR PUBLISHED 2024.
, -Lists the names of the mortgagor and mortgagee
-States who owes money to whom, how much, and how it will be repaid -
✔✔*States who owes money, to whom, how much, and how it will be
repaid
*Which of the following is NOT a legal activity for a business broker?*
-Assisting the buyer with due diligence
-Concealing the business's identity to protect the owner's privacy
-Conducting an appraisal of the business
-Requiring the prospective buyer to sign a confidentiality agreement -
✔✔*Conducting an appraisal of the business*
Only licensed appraisers may conduct appraisals
Joe Bob is the grantor of a deed and is in the final stages of transferring a
deed to the new owner, Frank. What must Joe Bob do in order to satisfy
delivery and acceptance of the deed to Frank?
4
©NINJANERD 2024/2025. YEAR PUBLISHED 2024.
Practice Questions and Answers 100%
Pass
The Real Estate Education, Research, and Recovery Fund Exists for the
Benefit of whom?
-Agents with low sales volume
-Brokers who pay out commissions
-GREC members
-The public - ✔✔*The public*
Who, or which entity, appoints the members of the Georgia Real Estate
Commission?
-Georgia real estate association members
1
©NINJANERD 2024/2025. YEAR PUBLISHED 2024.
,-The Georgia governor
-The mayors of every city in Georgia, through a vote
-The public, by election - ✔✔*The Georgia Governor*
*How's the Georgia intangible tax computed?*
-it's a flat $10 fee for any mortgage subject to the Georgia Residential
Mortgage Act
-It's based on .1% of the sales price
-It's based on the amount borrowed, and is $1.50 per each $500 or
fractional part thereof, with a maximum of $25,000
-It's based on the sales price, and is $1.50 per each $500 or a fractional
part thereof with a maximum of $25,000 - ✔✔*It's based on the amount
borrowed, and is $1.50 per each $500 or fractional part thereof, with a
maximum of $25,000*
2
©NINJANERD 2024/2025. YEAR PUBLISHED 2024.
,The intangible tax is based on the loan amount and is $1.50 per each $500
or fractional part thereof with a maximum of $25,000
In Georgia, upon what amount is the transfer tax calculated?
-Appraisal Amount
-Down Payment Amount
-Loan Amount
-Sales Price - ✔✔*Sales Price*
Krista is obtaining a loan to buy a home. Her loan agreement consists of
one document called a note and one called a deed of trust. What's the role
of the note?
-Conveys legal title to the property to the lender
-Describes the home requiring the loan
3
©NINJANERD 2024/2025. YEAR PUBLISHED 2024.
, -Lists the names of the mortgagor and mortgagee
-States who owes money to whom, how much, and how it will be repaid -
✔✔*States who owes money, to whom, how much, and how it will be
repaid
*Which of the following is NOT a legal activity for a business broker?*
-Assisting the buyer with due diligence
-Concealing the business's identity to protect the owner's privacy
-Conducting an appraisal of the business
-Requiring the prospective buyer to sign a confidentiality agreement -
✔✔*Conducting an appraisal of the business*
Only licensed appraisers may conduct appraisals
Joe Bob is the grantor of a deed and is in the final stages of transferring a
deed to the new owner, Frank. What must Joe Bob do in order to satisfy
delivery and acceptance of the deed to Frank?
4
©NINJANERD 2024/2025. YEAR PUBLISHED 2024.
