Georgia State Real Estate Exam (CE Shop) || with certified
answers
Regarding their employment classification, unlicensed assistants in Georgia are most often
______. correct answers Employees
Buyer duties outlined in the Exclusive Buyer Brokerage Engagement Agreement include ______.
correct answers Being available during the agent's regular working hours to visit properties
If the foreclosure sale doesn't satisfy the debt, ______ correct answers A deficiency judgment
against the borrower may be issued
Athens licensee Lucius is representing both the seller and the buyer in the same transaction, with
both clients' consent. That makes him a dual agent, which Georgia license law defines as ______.
correct answers One licensee representing both the buyer and the seller in a single transaction
According to the Georgia Brokerage Relationships in Real Estate Transactions Act, if no
expiration date is provided in the brokerage engagement, then the engagement will terminate
______. correct answers One year after initiation
Financing for a real estate transaction can use a note with a ______, a note with a deed of trust,
or, in Georgia, a note with a security deed. correct answers Mortgage
In order to better supervise their independent contractors, many brokers may ask them for
additional information. Which of these would brokers NOT typically ask for? correct answers
Family status
Decatur licensee Alistair is working with buyer Evie as a transaction broker. According to
Georgia law, Alistair may only perform ministerial acts for Evie, which are ______. correct
answers Administrative actions that don't rise to the level of client-level representation
, Which is NOT a violation for which the real estate education, research, and recovery fund may
compensate claimants in Georgia? correct answers Failure to disclose a criminal conviction
Gina is buying a condo in Tybee Island. Unless otherwise negotiated, which of the following
closing costs will she pay? correct answers Intangible tax
Drake, an unlicensed employee at The Best Nest Brokerage in Savannah, works with broker
Allison's property management clients. Which of the following tasks can he NOT perform
legally? correct answers Handling and managing trust funds such as tenant security deposits
The Real Estate Education, Research, and Recovery Fund exists for the benefit of whom? correct
answers The public
How many hours of post-licensing education and continuing education (nine hour credit of post-
licensing deducted) must a licensee complete after license issuance, and before the four-year
license renewal in Georgia? correct answers 52
Before Georgia consumers may apply for relief from the recovery fund, what must they do when
they receive a judgment against a licensee for wrongdoing? correct answers Exhaust other legal
remedies.
Chloe, a licensee in Alabama who wants to be licensed in Georgia, may do so, provided she
meets GREC's requirements. Which of these options best depicts GREC requirements? correct
answers She must provide proof of Alabama licensure, pay applicable fees, affiliate with a
Georgia broker, provide a written statement that she'll abide by Georgia rules and regulations,
and appoint the commission as a legal agent.
As a real estate licensee in Georgia, if you advertise or otherwise market using lies, deceit,
misrepresentations, fraud, or other unethical practices, what are you in violation of? correct
answers Georgia Fair Business Practices Act
answers
Regarding their employment classification, unlicensed assistants in Georgia are most often
______. correct answers Employees
Buyer duties outlined in the Exclusive Buyer Brokerage Engagement Agreement include ______.
correct answers Being available during the agent's regular working hours to visit properties
If the foreclosure sale doesn't satisfy the debt, ______ correct answers A deficiency judgment
against the borrower may be issued
Athens licensee Lucius is representing both the seller and the buyer in the same transaction, with
both clients' consent. That makes him a dual agent, which Georgia license law defines as ______.
correct answers One licensee representing both the buyer and the seller in a single transaction
According to the Georgia Brokerage Relationships in Real Estate Transactions Act, if no
expiration date is provided in the brokerage engagement, then the engagement will terminate
______. correct answers One year after initiation
Financing for a real estate transaction can use a note with a ______, a note with a deed of trust,
or, in Georgia, a note with a security deed. correct answers Mortgage
In order to better supervise their independent contractors, many brokers may ask them for
additional information. Which of these would brokers NOT typically ask for? correct answers
Family status
Decatur licensee Alistair is working with buyer Evie as a transaction broker. According to
Georgia law, Alistair may only perform ministerial acts for Evie, which are ______. correct
answers Administrative actions that don't rise to the level of client-level representation
, Which is NOT a violation for which the real estate education, research, and recovery fund may
compensate claimants in Georgia? correct answers Failure to disclose a criminal conviction
Gina is buying a condo in Tybee Island. Unless otherwise negotiated, which of the following
closing costs will she pay? correct answers Intangible tax
Drake, an unlicensed employee at The Best Nest Brokerage in Savannah, works with broker
Allison's property management clients. Which of the following tasks can he NOT perform
legally? correct answers Handling and managing trust funds such as tenant security deposits
The Real Estate Education, Research, and Recovery Fund exists for the benefit of whom? correct
answers The public
How many hours of post-licensing education and continuing education (nine hour credit of post-
licensing deducted) must a licensee complete after license issuance, and before the four-year
license renewal in Georgia? correct answers 52
Before Georgia consumers may apply for relief from the recovery fund, what must they do when
they receive a judgment against a licensee for wrongdoing? correct answers Exhaust other legal
remedies.
Chloe, a licensee in Alabama who wants to be licensed in Georgia, may do so, provided she
meets GREC's requirements. Which of these options best depicts GREC requirements? correct
answers She must provide proof of Alabama licensure, pay applicable fees, affiliate with a
Georgia broker, provide a written statement that she'll abide by Georgia rules and regulations,
and appoint the commission as a legal agent.
As a real estate licensee in Georgia, if you advertise or otherwise market using lies, deceit,
misrepresentations, fraud, or other unethical practices, what are you in violation of? correct
answers Georgia Fair Business Practices Act
