Ga Mls Real Estate Practical Final Exam 2025/2026 Questions And 100% Correct Answers

GA MLS REAL ESTATE PRACTICAL FINAL EXAM ACTUAL 2025/2026 QUESTIONS AND 100% CORRECT ANSWERS Safety Clause - Answer -A negotiated period after the termination of the listing during which the listing broker may still be entitled to a commission if the property is sold to a buyer who was shown the property during the listing period Survival Clause - Answer -A clause in the contract for purchase and sale that , unless otherwise expressly agreed to in writing by the buyer and seller, allows certain contractual obligations to be performed after closing Ratification - Answer -Method of creating an agency relationship in which the principal accepts the conduct of someone who acted without prior authorization as the principal's agent Net Operating Income (NOI) - Answer -The income projected for an income-producing property after deducting losses for vacancy and collection and operating expenses.Straight Term Loan - Answer -A loan in which only interest is paid during the term of the loan, with the entire principal amount due with the final interest payment. Loan Origination Fee - Answer -A fee charged to the borrower by the lender for making a mortgage loan. The fee is usually computed as a percentage of the loan amount. Adjustable Rate Mortgage - Answer -A loan characterized by a fluctuating interest rate, usually one tied to a bank or savings and loan association cost-of-funds index. Fully Amortized Loan - Answer -A loan consisting of equal, regular payments satisfying the total p