Colibri Real Estate (Real Estate Express) |\ |\ |\ |\ |\ |\
Final Exam Review QUESTIONS WITH
|\ |\ |\ |\ |\
ANSWERS
Broker Jane has been accused of a law violation regarding
|\ |\ |\ |\ |\ |\ |\ |\ |\
commissions. Which of the following might result in her
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
being found guilty? |\ |\
A) Jane paid a commission to her licensed personal
|\ |\ |\ |\ |\ |\ |\ |\ |\
assistant.
B) Jane paid a commission to the wife of one of her
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
licensees who was recently killed in an auto accident. The
|\ |\ |\ |\ |\ |\ |\ |\ |\
deceased licensee had earned the commission prior to
|\ |\ |\ |\ |\ |\ |\ |\ |\
his death.|\
C) Jane paid a commission plus a bonus to one of her
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
licensees.
D) Jane paid a commission to a Florida licensee who is not
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
licensed in Georgia for licensing activity in Georgia. -
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔D) Jane paid a commission to a
|\ |\ |\ |\ |\ |\ |\ |\ |\
Florida licensee who is not licensed in Georgia for
|\ |\ |\ |\ |\ |\ |\ |\ |\
licensing activity in Georgia. |\ |\ |\
Any salesperson can legally receive her share of the
|\ |\ |\ |\ |\ |\ |\ |\ |\
commission on a sale from |\ |\ |\ |\
,A) her employing broker only.
|\ |\ |\ |\
B) any cooperating broker with whom she completes a
|\ |\ |\ |\ |\ |\ |\ |\ |\
sale.
C) a builder she represents in a sale
|\ |\ |\ |\ |\ |\ |\
D) the purchaser of the home in a successful sale. -
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔A) her employing broker only. |\ |\ |\ |\ |\ |\
Which of the following is NOT a protected class under
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
Georgia fair housing law? |\ |\ |\
A) Sexual preference
|\ |\
B) Familial status
|\ |\
C) Religion
|\
D) Race - CORRECT ANSWERS ✔✔A) Sexual preference
|\ |\ |\ |\ |\ |\ |\
Syed is an inactive licensee. He just moved to a new
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
home across town. What must he do?
|\ |\ |\ |\ |\ |\
A) Call the Commission and give it his new address.
|\ |\ |\ |\ |\ |\ |\ |\ |\
B) Report the address change when he's ready to
|\ |\ |\ |\ |\ |\ |\ |\ |\
reactivate his license. |\ |\
C) Send a written notice to the Commission within 30
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
days.
,D) Notify the post office to send a change of address
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
notice to the Commission. - CORRECT ANSWERS ✔✔C)
|\ |\ |\ |\ |\ |\ |\ |\
Send a written notice to the Commission within 30 days.
|\ |\ |\ |\ |\ |\ |\ |\ |\
How many hours of continuing education must a licensee
|\ |\ |\ |\ |\ |\ |\ |\ |\
complete for each year of licensure? |\ |\ |\ |\ |\
A) 8 hours
|\ |\
B) 9 hours
|\ |\
C) 5 hours
|\ |\
D) 4 hours - CORRECT ANSWERS ✔✔B) 9 hours
|\ |\ |\ |\ |\ |\ |\ |\
Glenda is the office manager for a local real estate firm.
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
She is responsible for coordinating the paperwork flow
|\ |\ |\ |\ |\ |\ |\ |\
through the office, preparing ads and supervising the
|\ |\ |\ |\ |\ |\ |\ |\
clerical staff. Glenda is |\ |\ |\
A) required to have a salesperson's license.
|\ |\ |\ |\ |\ |\
B) violating license law.
|\ |\ |\
C) required to have a broker license.
|\ |\ |\ |\ |\ |\
D) exempt from the license law. - CORRECT ANSWERS
|\ |\ |\ |\ |\ |\ |\ |\ |\
✔✔D) exempt from the license law.
|\ |\ |\ |\ |\
, Haru is working with his buyers to draw up a written offer
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
on a property they want to purchase. Which of the
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
following items is not required in the offer?
|\ |\ |\ |\ |\ |\ |\
A) The property description
|\ |\ |\
B) The mortgage lender
|\ |\ |\
C) The method of payment
|\ |\ |\ |\
D) Special stipulations the offer requires - CORRECT
|\ |\ |\ |\ |\ |\ |\ |\
ANSWERS ✔✔B) The mortgage lender |\ |\ |\ |\
Kezia just bought and closed on a new home that cost
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
$195,000. her mortgage amount is $165,500. how much |\ |\ |\ |\ |\ |\ |\ |\
is the intangible recording tax on Kezia's property?
|\ |\ |\ |\ |\ |\ |\ |\
A) $585
|\
B) $195
|\
C) $165.50
|\
D) $496.50 - CORRECT ANSWERS ✔✔D) $496.50
|\ |\ |\ |\ |\ |\
*An intangible recording tax is due and payable on each
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
instrument securing one or more long-term notes at the |\ |\ |\ |\ |\ |\ |\ |\ |\
rate of $1.50 per each $500
|\ |\ |\ |\ |\ |\
$165,500 ÷ $500 = 331 |\ |\ |\ |\
Final Exam Review QUESTIONS WITH
|\ |\ |\ |\ |\
ANSWERS
Broker Jane has been accused of a law violation regarding
|\ |\ |\ |\ |\ |\ |\ |\ |\
commissions. Which of the following might result in her
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
being found guilty? |\ |\
A) Jane paid a commission to her licensed personal
|\ |\ |\ |\ |\ |\ |\ |\ |\
assistant.
B) Jane paid a commission to the wife of one of her
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
licensees who was recently killed in an auto accident. The
|\ |\ |\ |\ |\ |\ |\ |\ |\
deceased licensee had earned the commission prior to
|\ |\ |\ |\ |\ |\ |\ |\ |\
his death.|\
C) Jane paid a commission plus a bonus to one of her
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
licensees.
D) Jane paid a commission to a Florida licensee who is not
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
licensed in Georgia for licensing activity in Georgia. -
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔D) Jane paid a commission to a
|\ |\ |\ |\ |\ |\ |\ |\ |\
Florida licensee who is not licensed in Georgia for
|\ |\ |\ |\ |\ |\ |\ |\ |\
licensing activity in Georgia. |\ |\ |\
Any salesperson can legally receive her share of the
|\ |\ |\ |\ |\ |\ |\ |\ |\
commission on a sale from |\ |\ |\ |\
,A) her employing broker only.
|\ |\ |\ |\
B) any cooperating broker with whom she completes a
|\ |\ |\ |\ |\ |\ |\ |\ |\
sale.
C) a builder she represents in a sale
|\ |\ |\ |\ |\ |\ |\
D) the purchaser of the home in a successful sale. -
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔A) her employing broker only. |\ |\ |\ |\ |\ |\
Which of the following is NOT a protected class under
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
Georgia fair housing law? |\ |\ |\
A) Sexual preference
|\ |\
B) Familial status
|\ |\
C) Religion
|\
D) Race - CORRECT ANSWERS ✔✔A) Sexual preference
|\ |\ |\ |\ |\ |\ |\
Syed is an inactive licensee. He just moved to a new
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
home across town. What must he do?
|\ |\ |\ |\ |\ |\
A) Call the Commission and give it his new address.
|\ |\ |\ |\ |\ |\ |\ |\ |\
B) Report the address change when he's ready to
|\ |\ |\ |\ |\ |\ |\ |\ |\
reactivate his license. |\ |\
C) Send a written notice to the Commission within 30
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
days.
,D) Notify the post office to send a change of address
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
notice to the Commission. - CORRECT ANSWERS ✔✔C)
|\ |\ |\ |\ |\ |\ |\ |\
Send a written notice to the Commission within 30 days.
|\ |\ |\ |\ |\ |\ |\ |\ |\
How many hours of continuing education must a licensee
|\ |\ |\ |\ |\ |\ |\ |\ |\
complete for each year of licensure? |\ |\ |\ |\ |\
A) 8 hours
|\ |\
B) 9 hours
|\ |\
C) 5 hours
|\ |\
D) 4 hours - CORRECT ANSWERS ✔✔B) 9 hours
|\ |\ |\ |\ |\ |\ |\ |\
Glenda is the office manager for a local real estate firm.
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
She is responsible for coordinating the paperwork flow
|\ |\ |\ |\ |\ |\ |\ |\
through the office, preparing ads and supervising the
|\ |\ |\ |\ |\ |\ |\ |\
clerical staff. Glenda is |\ |\ |\
A) required to have a salesperson's license.
|\ |\ |\ |\ |\ |\
B) violating license law.
|\ |\ |\
C) required to have a broker license.
|\ |\ |\ |\ |\ |\
D) exempt from the license law. - CORRECT ANSWERS
|\ |\ |\ |\ |\ |\ |\ |\ |\
✔✔D) exempt from the license law.
|\ |\ |\ |\ |\
, Haru is working with his buyers to draw up a written offer
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
on a property they want to purchase. Which of the
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
following items is not required in the offer?
|\ |\ |\ |\ |\ |\ |\
A) The property description
|\ |\ |\
B) The mortgage lender
|\ |\ |\
C) The method of payment
|\ |\ |\ |\
D) Special stipulations the offer requires - CORRECT
|\ |\ |\ |\ |\ |\ |\ |\
ANSWERS ✔✔B) The mortgage lender |\ |\ |\ |\
Kezia just bought and closed on a new home that cost
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
$195,000. her mortgage amount is $165,500. how much |\ |\ |\ |\ |\ |\ |\ |\
is the intangible recording tax on Kezia's property?
|\ |\ |\ |\ |\ |\ |\ |\
A) $585
|\
B) $195
|\
C) $165.50
|\
D) $496.50 - CORRECT ANSWERS ✔✔D) $496.50
|\ |\ |\ |\ |\ |\
*An intangible recording tax is due and payable on each
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
instrument securing one or more long-term notes at the |\ |\ |\ |\ |\ |\ |\ |\ |\
rate of $1.50 per each $500
|\ |\ |\ |\ |\ |\
$165,500 ÷ $500 = 331 |\ |\ |\ |\
