Page 1 of 83
Metro Broker Academy Agency Final Exam
ALL NEWEST 200 QUESTIONS AND
VERIFIED SOLUTIONS LATEST UPDATE
THIS YEAR
QUESTION: 1) What is a CAM license for?
a) Listing property
b) Managing apartment building
c) Managing building projects
d) Manager of a subdivision association - ANSWER-d) Manager of a subdivision association
QUESTION: 2) How many square feet in an acre?
a) 43560
b) 34560
c) 56043
d) 43650 - ANSWER-a) 43560
1
, Page 2 of 83
3) What is your take-home from a if the total commission for the sale was 6%, which equaled
$13,545.00 if you have a 70/30 split with your broker?
a) $6772.50
b) $4740.75
c) $3254.76
d) $6000.00 - ANSWER-b) $4,740.75
Assuming there is a co-broker involved with a 50/50
$13,545. = $6,772.50 (this is the amount split W/your broker)
$6,772.50 X 70% = $4,740.75
QUESTION: 4) How many square miles in a Township?
2
, Page 3 of 83
a) 6
b) 35
c) 36
d) 34 - ANSWER-c) 36
QUESTION: 5) What determines the fee for appraisal?
a) Market price of property
b) The Lender
c) The amount of work and time
d) The sales price of the property - ANSWER-c) The amount of work and time
QUESTION: 6) In Georgia, most community associations are required to have what?
a) A licensed CAM agent
b) General insurance
c) Fidelity insurance
d) Hazard insurance
3
, Page 4 of 83
e) An active real estate broker license - ANSWER-c) Fidelity insurance
QUESTION: 8) If an affiliate licensee violates rules and regulations or license law, is the broker
required to notify the commission?
a) Yes, only if money was involved
b) No, the broker can provide training
c) No, only consumers can file complaints
d) Yes, always - ANSWER-d) Yes, always
QUESTION: 7) If the lender requires 8 months of taxes and 5 months of hazardous insurance to
establish the escrow account, how much would the buyer have to pay if the annual tax bill was
$1900 and the annual hazardous insurance is $850?
a) $2354.76
b) $1620.84
c) $1273.67
d) $2750.00 - ANSWER-b) $1620.84
4
Metro Broker Academy Agency Final Exam
ALL NEWEST 200 QUESTIONS AND
VERIFIED SOLUTIONS LATEST UPDATE
THIS YEAR
QUESTION: 1) What is a CAM license for?
a) Listing property
b) Managing apartment building
c) Managing building projects
d) Manager of a subdivision association - ANSWER-d) Manager of a subdivision association
QUESTION: 2) How many square feet in an acre?
a) 43560
b) 34560
c) 56043
d) 43650 - ANSWER-a) 43560
1
, Page 2 of 83
3) What is your take-home from a if the total commission for the sale was 6%, which equaled
$13,545.00 if you have a 70/30 split with your broker?
a) $6772.50
b) $4740.75
c) $3254.76
d) $6000.00 - ANSWER-b) $4,740.75
Assuming there is a co-broker involved with a 50/50
$13,545. = $6,772.50 (this is the amount split W/your broker)
$6,772.50 X 70% = $4,740.75
QUESTION: 4) How many square miles in a Township?
2
, Page 3 of 83
a) 6
b) 35
c) 36
d) 34 - ANSWER-c) 36
QUESTION: 5) What determines the fee for appraisal?
a) Market price of property
b) The Lender
c) The amount of work and time
d) The sales price of the property - ANSWER-c) The amount of work and time
QUESTION: 6) In Georgia, most community associations are required to have what?
a) A licensed CAM agent
b) General insurance
c) Fidelity insurance
d) Hazard insurance
3
, Page 4 of 83
e) An active real estate broker license - ANSWER-c) Fidelity insurance
QUESTION: 8) If an affiliate licensee violates rules and regulations or license law, is the broker
required to notify the commission?
a) Yes, only if money was involved
b) No, the broker can provide training
c) No, only consumers can file complaints
d) Yes, always - ANSWER-d) Yes, always
QUESTION: 7) If the lender requires 8 months of taxes and 5 months of hazardous insurance to
establish the escrow account, how much would the buyer have to pay if the annual tax bill was
$1900 and the annual hazardous insurance is $850?
a) $2354.76
b) $1620.84
c) $1273.67
d) $2750.00 - ANSWER-b) $1620.84
4
