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Exam (elaborations)
GA Real Estate License Test Questions and Answers
The Commission's authority is based upon: Statutory law Agency can best be described as: A written representation agreement between Broker and client. Charging advance brokerage fees is: A duty of a broker. The Commission rules and regulations may be adopted under what circumstances? They must fall under the "umbrella" of the license law. Which is true concerning the Commission's due process? Any new rules passed must not increase business costs without a compelling need. Whic...
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Exam (elaborations)
Georgia Real Estate Exam Review Part A Questions and Answers
Which of the following are appointed by the governor? A. Members of the Georgia Real Estate Commission. B. The Real Estate Commissioner. C. Real estate instructors. D. Georgia Real Estate Commission employees.>> CORRECT ANSWER IS: A >> YOUR ANSWER IS: A Members of the Georgia Real Estate Commission are appointed by the governor. The Real Estate Commissioner is an employee hired by the Real Estate Commission. All employees of the commission must be unlicensed or inactive, but...
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Exam (elaborations)
Georgia Real Estate Exam Prep. Questions and Answers
Angie owns a four-plex. She lives in one unit and rents out the others Which of the following may represent an exemption from Georgia fair housing laws Kiting Representing the sale price on a home as an amount greater than what it actually sold for is considered Providing financing for diverse housing communities Which is NOT a focus of Georgia's Fair Housing Division Conducting an appraisal of the business Which of the following is NOT a legal activity for a business broker Three y...
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Exam (elaborations)
Ga Real Estate Express Final Exam Questions and Answers
Under the _______ of recording, title passes when the conveyance is registered on the title certificate. Torrens System Non-judicial foreclosure is required to foreclose on a Deed of Trust A broker induces an owner to sell by telling him that Muslims are moving into the neighborhood. This broker is guilty of Blockbusting What type of agency cannot be revoked by the principal, nor is terminated if the principal dies? Agency coupled with an interest Ownership of a property reverted to ...
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Exam (elaborations)
Real Estate GA State Exam (52 Questions)
The Georgia Real Estate Commission will discipline a licensee for which of the following actions? A. II and IV only II. Guaranteeing future profits from the sale of a property. IV. Persuading a party to an existing listing contract to break that contract and list with the licensee. Which licensee is violating Georgia license law? A. Salesperson Maria accepts a commission payment directly from her client. Maria is violating license law. A salesperson may never accept compensation from anyo...
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Exam (elaborations)
Georgia Real Estate Practice Exam Questions and 100% Correct Answers
1. which of the following ways of specialization is common in the real estate brokerage business A) by background of client B) by type of property C) by years of experience in the business D) by type of mortgage financing requiredb 2. which of the following is included in the legal concept of land A) A corn crop B) a lake C) a felled tree D) an abandoned vehicleb 3. a property abuts a non navigable stream. What does the owner own A) land to the low water mark B) underlying the la...
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Exam (elaborations)
Ga Real Estate Exam Review Questions and Answers
Loyalty Obedience Written offers must be submitted Personally act for the principal Account for monies Inform the principal an Not to be negligent The acronym used to remember the responsibilities that a real estate broker has to the principal Full disclosure and honesty, fairness and integrity -They also must not act as a dual agent unless both parties know, or commingling (mixing your money with principals money) Agents duties to a third party dual agency representing both buye...
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Exam (elaborations)
GA Real Estate Pre-License Course Practice Questions and Answers
Agency every relationship in which a real estate broker acts for or represents another as a client by the latter's written authority in a real property transaction associate broker a person who acts on behalf of a real estate broker in performing any act authorized to be performed by a broker broker does the following: *negotiates or attempts to negotiate listing, sale, purchase, exchange, renting, lease or option for any real estate *acts as referral agent in real estate *Collects rent...
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Exam (elaborations)
Level 25 - GA Real Estate Practice Questions and Answers
increasing the profits of brokerages Which one of these is NOT a responsibility of GREC? increasing the profits of brokerages administering real estate licenses overseeing the license renewal process enforcing the license law protect the public interest The Georgia Real Estate Commission's main purpose is to: generate revenue for the state protect the interests of license holders protect the public interest recruit and incentivize new brokers 6 members: 5 with real estate expe...
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Exam (elaborations)
GA Real Estate Salesperson State Exam Questions and Answers
Actual Notice Knowledge recieved or imparted theough direct experience constructive notice Knowledge that one could have or should have obtained Quiet Title A court action brought to establish title; to remove a cloud on the title; to remove encumbrance licensee an individual who has completed the education requirements for a license, who has successfully passed an examination for either a community association manager, salesperson, or broker license, and to whom the Commission has issu...
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Exam (elaborations)
Ga Real Estate - Exam Practice Q's & A’s
Which of these is NOT one of GREC's powers? Sentence licensees to jail time (GREC doesn't have the legal authority to sentence licensees to jail.) Maury was brought up on a disciplinary action for a trust fund violation. GREC fined him and required him to take a course in trust fund accounting. This penalty is called a(n) ______. Citation (A citation is a lesser penalty than a sanction.) Jaqueline is the qualifying broker for a bustling firm in Avondale Estates, and she has many s...
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Exam (elaborations)
Georgia Real Estate Broker
In its capacity to administer the License Law as created by Georgia statute, the Real Estate Commission may A) only pass rules and regulations based on License Law. With regard to the organization and operation of the Georgia Real Estate Commission, which of the following is TRUE? A) Five of the six Commission members must have active real estate licenses for at least five years. What matter(s) may be resolved when the Real Estate Commission issues a declaratory ruling? A) Whether or n...
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Exam (elaborations)
GA Real Estate License Study Questions and Answers
Fidelity Insurance Under Georgia license law, fidelity insurance is required of any Georgia licensee if managing community associations and if at any time handling more than $60,000. A broker managing community associations who at any time handles more than $60,000 must have a separate fidelity bond or policy for each association managed. errors and omissions insurance is not required in GA certificate of title The written opinion of title identifying the fee owner of a property and naming...
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Exam (elaborations)
Georgia Real Estate Test Questions and Answers
A real estate licensee who is representing a tenant in a commercial rental wants to share part of her commission with the tenant. Can she do this legally? Real estate licensees may share their commission with a party to a lease agreement, provided it is disclosed to all interested parties In the government survey system of legal description, a "check" is subdivided into "townships" that measure: 6 Miles Square Listing agreements do not have which requirement? Written Form - Listing A...
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Exam (elaborations)
Unit 27 GA Real Estate Commission Practice Questions and Answers
If the real estate commission discovers that a person obtained a license by false or fraudulent representation, the commission can take each of the following actions EXCEPT revoke a broker's license and simultaneously issue a sales associate's license to the person (includes cheating and unfairly taking real estate courses to obtain a license.) To obtain a salesperson's license, the applicant must be at least 18 years old. be a resident of Georgia, unless the applicant complies with non-r...
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Exam (elaborations)
Georgia Real Estate License Laws and Rules Review Questions and Answers
Is failure to put a street address in a legal description a violation of the Georgia license law? no A broker was found guilty of commingling. The real estate Commission shall have the power to do what> impose a fine not to exceed $1000 In Georgia can a broker deposti earnest money in a seperate account that is not established for earnest money? yes, if all parties involved have agreed in writing A salesperson negotiated the sale of a house from a builder. Because the house had been ...
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