GEORGIA REAL ESTATE PRACTICE EXAM REVIEW QUESTIONS AND ANSWERS, 100% ACCURATE, GRADED A+/| latest update 2024/25|

GEORGIA REAL ESTATE PRACTICE EXAM REVIEW QUESTIONS AND ANSWERS, 100% ACCURATE, GRADED A+/ 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 required - -b 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 vehicle - -b 3. a property abuts a non navigable stream. What does the owner own A) land to the low water mark B) underlying the land to the middle of the Waterway C) land to the high-water mark D) all water to the middle of the waterway - -b 4. a retailer installs special display counters to exhibit her products. At the end of the lease term, the realtor move to another state, leaving the counters in the store. At this point the counters are considered which of the following A) trade fixtures, and therefor real property B) trade fixtures and their for personal property C) real property, since the trade fixtures were abandoned D) personal property that must be returned to the retailer - -c 5. how is a legal life estate created A) by an owner's voluntary Grant B) by operation of law C) through the four unities D) through a defeasible conveyances - -b 6. which of the following is true of a homestead A) a homestead interest can be conveyed by one spouse B) a homestead interest cannot be exempt from creditors C) a homestead interest is a form of legal life estate D) a homestead is any privately owned single family residence - -c 7. 3 people have identical rights in a property, share and indivisible interest, but may sell or transfer their interest without consent of the others. This type of ownership is A) joint tenancy B) tenancy by the entireties C) estate in severalty D) tenancy in common - -d 8. a condominium estate is distinguished by A) ownership of a share in an association and a condominium lease on the owned unit B) Tenancy in common interest in airspace and common areas of the property C) fee simple ownership of a unit and an undivided share of the common area D) fee simple ownership of an equal share of the entire property - -c