Barney Fletcher Exam questions with verified answers
A broker had several branch offices. Which is true regarding the
management?
A. he would have to have direct supervision over the main office and
branch offices
B. an associate broker can have direct supervision over the branch
office
C. a salesperson must have direct supervision over the branch offices
D. each branch office must have a full time broker who does not sell or
list Ans✓✓✓ B. an associate broker can have direct supervision over
the branch office
A broker listed a $75,000 property and the agreement read that the
owner would NOT take more than a 25% cash offer. The broker
produced a buyer who offered a full price 100% cash offer. Would the
broker be due a commission?
A. yes, because the broker produced a ready, willing, and able buyer
B. yes, because the offer was reasonable
C. no, because the broker did NOT produce a buyer that fulfilled all the
terms of the listing agreement
D. no, because the broker violated the listing agreement by writing a
100% cash offer Ans✓✓✓ C. no, because the broker did NOT produce a
buyer that fulfilled all the terms of the listing agreement
,A broker listed a property for $87,500. While showing the property, a
buyer remarked that $84,500 is what the buyer would like to offer for
the property. The broker told the buyer that the seller will not accept
anything less than $86,500. Did the broker do anything illegal under the
Georgia License Law?
A. no, because the broker tried to persuade the buyer to increase their
offer by $2,000
B. no, as the seller can always reject the offer or make a counter offer
to the buyer
C. yes, as the broker must present the offer without any regards for the
list price
D. yes, as the broker cannot disclose to the buyer that the seller will
take anything less than the list price Ans✓✓✓ D. yes, as the broker
cannot disclose to the buyer that the seller will take anything less than
the list price
A citizen phoned the GREC with a complaint on a licensee. The GREC
sent him a form to fill out. However, he never followed up the
complaint in writing. What would the GREC do?
A. the GREC must follow up an oral complaint
B. the GREC can NOT act on an oral complaint
C. the GREC must ignore the complaint
, D. even though he did not put it in writing, the GREC may investigate
anyway at their own discretion Ans✓✓✓ D. even though he did not put
it in writing, the GREC may investigate anyway at their own discretion
A closing was to take place on June 15th. The sales price was $150,000.
The seller's current loan balance was $115,000 with an 8% interest rate
while the buyer was obtaining a 90% loan at 7%. The taxes of $600,
paid in arrears, were to be prorated to closing with the seller being
responsible for the closing date. What would be the amount of the tax
proration? (use 30 day months and 360 day years)
A. $275
B. $325
C. $475
D. $600 Ans✓✓✓ A. $275
$600 divided by 360 days x 165 days = $275
A person has passed their state exam but has not yet received a license.
Which of the following could that person NOT do?
A. place "for sale" signs on a newly listed property
B. type advertising copy
C. give the address of a listed property to a buyer
A broker had several branch offices. Which is true regarding the
management?
A. he would have to have direct supervision over the main office and
branch offices
B. an associate broker can have direct supervision over the branch
office
C. a salesperson must have direct supervision over the branch offices
D. each branch office must have a full time broker who does not sell or
list Ans✓✓✓ B. an associate broker can have direct supervision over
the branch office
A broker listed a $75,000 property and the agreement read that the
owner would NOT take more than a 25% cash offer. The broker
produced a buyer who offered a full price 100% cash offer. Would the
broker be due a commission?
A. yes, because the broker produced a ready, willing, and able buyer
B. yes, because the offer was reasonable
C. no, because the broker did NOT produce a buyer that fulfilled all the
terms of the listing agreement
D. no, because the broker violated the listing agreement by writing a
100% cash offer Ans✓✓✓ C. no, because the broker did NOT produce a
buyer that fulfilled all the terms of the listing agreement
,A broker listed a property for $87,500. While showing the property, a
buyer remarked that $84,500 is what the buyer would like to offer for
the property. The broker told the buyer that the seller will not accept
anything less than $86,500. Did the broker do anything illegal under the
Georgia License Law?
A. no, because the broker tried to persuade the buyer to increase their
offer by $2,000
B. no, as the seller can always reject the offer or make a counter offer
to the buyer
C. yes, as the broker must present the offer without any regards for the
list price
D. yes, as the broker cannot disclose to the buyer that the seller will
take anything less than the list price Ans✓✓✓ D. yes, as the broker
cannot disclose to the buyer that the seller will take anything less than
the list price
A citizen phoned the GREC with a complaint on a licensee. The GREC
sent him a form to fill out. However, he never followed up the
complaint in writing. What would the GREC do?
A. the GREC must follow up an oral complaint
B. the GREC can NOT act on an oral complaint
C. the GREC must ignore the complaint
, D. even though he did not put it in writing, the GREC may investigate
anyway at their own discretion Ans✓✓✓ D. even though he did not put
it in writing, the GREC may investigate anyway at their own discretion
A closing was to take place on June 15th. The sales price was $150,000.
The seller's current loan balance was $115,000 with an 8% interest rate
while the buyer was obtaining a 90% loan at 7%. The taxes of $600,
paid in arrears, were to be prorated to closing with the seller being
responsible for the closing date. What would be the amount of the tax
proration? (use 30 day months and 360 day years)
A. $275
B. $325
C. $475
D. $600 Ans✓✓✓ A. $275
$600 divided by 360 days x 165 days = $275
A person has passed their state exam but has not yet received a license.
Which of the following could that person NOT do?
A. place "for sale" signs on a newly listed property
B. type advertising copy
C. give the address of a listed property to a buyer
