Georgia Real Estate Exam Study Guide
QUESTIONS AND CORRECT ANSWERS
[DETAILED AND REVIWED ANSWERS
100% PASS GRADE A+]
Accession - CORRECT ANSWER-The acquisition of title by the owner of real property
to those things attached to the property by others, such as tenants, trespassers, or by
nature.
Acre - CORRECT ANSWER-A measure of land area equal to 43560 square feet.
43560 - CORRECT ANSWER-The number of squarefeet in one acre.
Active License - CORRECT ANSWER-Status of an individual who has met all
qualifications to practice real estate as a broker, associate broker, or salesperson; and
such license is held by a broker, rather than by the Commission.
Air Lot - CORRECT ANSWER-A designated air space over a parcel of land. In
condominiums, each individual unit occupies a separate one.
Air Rights - CORRECT ANSWER-The right to use and enjoy the air space above a
parcel of land. Such rights may be leased or sold separately from the land.
Appurtenance - CORRECT ANSWER-Anything that may be used with the land for its
benefit and goes to the new owner when ownership of the land is transferred. Mineral
rights, air rights, water rights, easements, improvements, and natural attachments are
examples.
Artificial Monuments - CORRECT ANSWER-Man-made objects such as streets, fences,
iron pins, concrete posts, etc.
Associate Broker - CORRECT ANSWER-A person who has met all qualifications to be
licensed as a broker, but who elects to act on behalf of another broker in performing any
act authorized by law to be performed by a broker.
,Attorney General - CORRECT ANSWER-Legal counsel for the state. Whenever the
Commission believes a serious violation of the License Law has occurred, the
____________ may bring an action in the name of the state to enforce compliance.
Baseline - CORRECT ANSWER-Certain reference lines which run east and west; used
in rectangular survey system to locate land.
Bench Mark - CORRECT ANSWER-A permanent reference point of known location
used by surveyors. A ________ may be a point established by a government survey
team or a fixed monument such as a road right-of-way.
Bill of Sale - CORRECT ANSWER-A document which conveys ownership to personal
property.
Broker - CORRECT ANSWER-An individual or legal entity licensed to act as the agent
of another in buying, selling, exchanging, renting, leasing, managing, or auctioning real
estate for another.
Call - CORRECT ANSWER-The compass direction and distance for each boundary
line.
Censure - CORRECT ANSWER-Disciplinary power of the Commission whereby it
reprimands a licensee, usually for technical violations occurring for the first time.
Chattel - CORRECT ANSWER-Personal property.
Closure - CORRECT ANSWER-The metes and bounds legal description must return to
the point of beginning or the description is incomplete.
Co-brokering - CORRECT ANSWER-Participation of more than one broker in a real
estate transaction.
Commingling - CORRECT ANSWER-Mixing funds held in trust with the brokers
personal or business accounts.
The Real Estate Commission - CORRECT ANSWER-The state licensing authority
charged with the enforcement of the Real Estate License Law.
Constructive Severance - CORRECT ANSWER-The transfer to someone other than the
owner of the land the rights to remove attachments such as timber, or buildings, or the
right to remove minerals.
Contour - CORRECT ANSWER-The shape of the earths surface.
, Correlative Rights - CORRECT ANSWER-The doctrine of law which allows riparian
owners in certain states to use only a reasonable share of water during periods of
drought.
Datum - CORRECT ANSWER-A point of surface of known location from which heights
and depths are measured. The basic point from which vertical land(air rights and
mineral rights) is described.
Dual Agency - CORRECT ANSWER-Representing both the buyer and the seller in the
same transaction. This practice constitutes a violation of License Law, unless both
parties give their written consent.
Earnest Money - CORRECT ANSWER-The purchaser's initial commitment of something
of value to indicate that he/she wants to buy the property according to the terms of the
offer being submitted. _______ deposits received by the broker must be placed in
her/her designated trust account, until the transaction is either closed or otherwise
terminated.
Emblements - CORRECT ANSWER-Crops that require annual cultivation. They are
considered personal property even though it is attached to the land.
Escrow Account - CORRECT ANSWER-A separate account which a broker must
maintain for the deposit of all funds coming into his/her possession that belongs to
others. Before a broker's license will be issued, the broker must authorize the
Commission to examine the account at any time.
Executor - CORRECT ANSWER-Person named in a will to carry out the directions and
requests of the deceased.
Fixture - CORRECT ANSWER-An item that was once personal property but has
become real property because of the manner in which it was attached to the land or its
improvements.
Fructus Industriales - CORRECT ANSWER-Crops that are planted and harvested each
year.
Fructus Naturales - CORRECT ANSWER-Growing things which require no annual
cultivation.
Georgia Administrative Procedures Act - CORRECT ANSWER-A state law which
requires administrative bodies such as the Georgia Real Estate Commission to follow
certain procedures in its investigative process and before exercising its disciplinary
powers. For example, before the Commission can impose a sanction against a license,
the licensee must be given a hearing.
QUESTIONS AND CORRECT ANSWERS
[DETAILED AND REVIWED ANSWERS
100% PASS GRADE A+]
Accession - CORRECT ANSWER-The acquisition of title by the owner of real property
to those things attached to the property by others, such as tenants, trespassers, or by
nature.
Acre - CORRECT ANSWER-A measure of land area equal to 43560 square feet.
43560 - CORRECT ANSWER-The number of squarefeet in one acre.
Active License - CORRECT ANSWER-Status of an individual who has met all
qualifications to practice real estate as a broker, associate broker, or salesperson; and
such license is held by a broker, rather than by the Commission.
Air Lot - CORRECT ANSWER-A designated air space over a parcel of land. In
condominiums, each individual unit occupies a separate one.
Air Rights - CORRECT ANSWER-The right to use and enjoy the air space above a
parcel of land. Such rights may be leased or sold separately from the land.
Appurtenance - CORRECT ANSWER-Anything that may be used with the land for its
benefit and goes to the new owner when ownership of the land is transferred. Mineral
rights, air rights, water rights, easements, improvements, and natural attachments are
examples.
Artificial Monuments - CORRECT ANSWER-Man-made objects such as streets, fences,
iron pins, concrete posts, etc.
Associate Broker - CORRECT ANSWER-A person who has met all qualifications to be
licensed as a broker, but who elects to act on behalf of another broker in performing any
act authorized by law to be performed by a broker.
,Attorney General - CORRECT ANSWER-Legal counsel for the state. Whenever the
Commission believes a serious violation of the License Law has occurred, the
____________ may bring an action in the name of the state to enforce compliance.
Baseline - CORRECT ANSWER-Certain reference lines which run east and west; used
in rectangular survey system to locate land.
Bench Mark - CORRECT ANSWER-A permanent reference point of known location
used by surveyors. A ________ may be a point established by a government survey
team or a fixed monument such as a road right-of-way.
Bill of Sale - CORRECT ANSWER-A document which conveys ownership to personal
property.
Broker - CORRECT ANSWER-An individual or legal entity licensed to act as the agent
of another in buying, selling, exchanging, renting, leasing, managing, or auctioning real
estate for another.
Call - CORRECT ANSWER-The compass direction and distance for each boundary
line.
Censure - CORRECT ANSWER-Disciplinary power of the Commission whereby it
reprimands a licensee, usually for technical violations occurring for the first time.
Chattel - CORRECT ANSWER-Personal property.
Closure - CORRECT ANSWER-The metes and bounds legal description must return to
the point of beginning or the description is incomplete.
Co-brokering - CORRECT ANSWER-Participation of more than one broker in a real
estate transaction.
Commingling - CORRECT ANSWER-Mixing funds held in trust with the brokers
personal or business accounts.
The Real Estate Commission - CORRECT ANSWER-The state licensing authority
charged with the enforcement of the Real Estate License Law.
Constructive Severance - CORRECT ANSWER-The transfer to someone other than the
owner of the land the rights to remove attachments such as timber, or buildings, or the
right to remove minerals.
Contour - CORRECT ANSWER-The shape of the earths surface.
, Correlative Rights - CORRECT ANSWER-The doctrine of law which allows riparian
owners in certain states to use only a reasonable share of water during periods of
drought.
Datum - CORRECT ANSWER-A point of surface of known location from which heights
and depths are measured. The basic point from which vertical land(air rights and
mineral rights) is described.
Dual Agency - CORRECT ANSWER-Representing both the buyer and the seller in the
same transaction. This practice constitutes a violation of License Law, unless both
parties give their written consent.
Earnest Money - CORRECT ANSWER-The purchaser's initial commitment of something
of value to indicate that he/she wants to buy the property according to the terms of the
offer being submitted. _______ deposits received by the broker must be placed in
her/her designated trust account, until the transaction is either closed or otherwise
terminated.
Emblements - CORRECT ANSWER-Crops that require annual cultivation. They are
considered personal property even though it is attached to the land.
Escrow Account - CORRECT ANSWER-A separate account which a broker must
maintain for the deposit of all funds coming into his/her possession that belongs to
others. Before a broker's license will be issued, the broker must authorize the
Commission to examine the account at any time.
Executor - CORRECT ANSWER-Person named in a will to carry out the directions and
requests of the deceased.
Fixture - CORRECT ANSWER-An item that was once personal property but has
become real property because of the manner in which it was attached to the land or its
improvements.
Fructus Industriales - CORRECT ANSWER-Crops that are planted and harvested each
year.
Fructus Naturales - CORRECT ANSWER-Growing things which require no annual
cultivation.
Georgia Administrative Procedures Act - CORRECT ANSWER-A state law which
requires administrative bodies such as the Georgia Real Estate Commission to follow
certain procedures in its investigative process and before exercising its disciplinary
powers. For example, before the Commission can impose a sanction against a license,
the licensee must be given a hearing.
