BARNEY FLETCHER FINAL EXAM
2024 COMPLETE 250 QUESTIONS
WITH 100% CORRECT SIMPLIFIED
AND VERIFIED ANSWERS BRAND
NEW EXAM GRADED A+
Which is true regarding the findings of the Georgia
Real Estate Commission?
A. all findings of the GREC are secret and
confidential
B. the GREC could publish the name of the licensee
and the status of the license
C. if a licensee is found guilty, the GREC could NOT
impose a penalty
D. if a licensee is found innocent, the licensee would be
free of all civil and criminal penalties -
....ANSWER...B. the GREC could publish the name of
the licensee and the status of the license
1
,Which of the following is a Georgia statute related to
antitrust?
A. FBPA (Fair Business Practices Act)
B. RESPA
C. Regulation Z
D. Truth in Lending - ....ANSWER...A. FBPA
(Fair Business Practices Act)
The Sherman Antitrust Act has as one of its purposes to:
A. prohibit conspiracy in the restraint of trade
B. guarantee businesses some protection from
federal income taxation
C. prohibit kickbacks in regard to providing
settlement services
D. guarantee non business consumers some
protection against hidden credit costs -
....ANSWER...A. prohibit conspiracy in the restraint of
trade
2
,Which of the following items is NOT required to be part
of an exclusive agency agreement?
A. statement requiring owner to notify broker of the
intention NOT to renew
B. statement that the listing is exclusive
C. proper identification of the property
D. commission rate to be paid - ....ANSWER...A.
statement requiring owner to notify broker of the
intention NOT to renew
Which of the following is NOT true about a deed to
secure debt?
A. when the document is delivered and accepted, it
passes legal title
B. in order to be recorded, it is witnessed the same way
a mortgage is
C. with a security deed, the lender holds equitable title
D. once recorded, the deed to secure debt creates a lien
on the property - ....ANSWER...C. with a security deed,
the lender holds equitable title
3
, Sam sold a property to Emma for $225,000. Sam's loan
balance was $44,500 with an interest rate of 7%.
Emma's conventional loan was at 8% with a 90% loan
to value ratio. The taxes for the year were
$1,250 and the home owner's insurance was $495.
Closing took place on October 30th. Based on this
information, answer the following question.
What was the amount of the property tax proration?
A. $212.33
B. $208.90
C. $1,037.67
D. $1,041.10 - ....ANSWER...A. $212.33
$1,250 divided by 365 = $3.4246 per day x 62 days =
$212.3287 = $212.33
Sam sold a property to Emma for $225,000. Sam's loan
balance was $44,500 with an interest rate of 7%.
Emma's conventional loan was at 8% with a 90% loan
to value ratio. The taxes for the year were
4
2024 COMPLETE 250 QUESTIONS
WITH 100% CORRECT SIMPLIFIED
AND VERIFIED ANSWERS BRAND
NEW EXAM GRADED A+
Which is true regarding the findings of the Georgia
Real Estate Commission?
A. all findings of the GREC are secret and
confidential
B. the GREC could publish the name of the licensee
and the status of the license
C. if a licensee is found guilty, the GREC could NOT
impose a penalty
D. if a licensee is found innocent, the licensee would be
free of all civil and criminal penalties -
....ANSWER...B. the GREC could publish the name of
the licensee and the status of the license
1
,Which of the following is a Georgia statute related to
antitrust?
A. FBPA (Fair Business Practices Act)
B. RESPA
C. Regulation Z
D. Truth in Lending - ....ANSWER...A. FBPA
(Fair Business Practices Act)
The Sherman Antitrust Act has as one of its purposes to:
A. prohibit conspiracy in the restraint of trade
B. guarantee businesses some protection from
federal income taxation
C. prohibit kickbacks in regard to providing
settlement services
D. guarantee non business consumers some
protection against hidden credit costs -
....ANSWER...A. prohibit conspiracy in the restraint of
trade
2
,Which of the following items is NOT required to be part
of an exclusive agency agreement?
A. statement requiring owner to notify broker of the
intention NOT to renew
B. statement that the listing is exclusive
C. proper identification of the property
D. commission rate to be paid - ....ANSWER...A.
statement requiring owner to notify broker of the
intention NOT to renew
Which of the following is NOT true about a deed to
secure debt?
A. when the document is delivered and accepted, it
passes legal title
B. in order to be recorded, it is witnessed the same way
a mortgage is
C. with a security deed, the lender holds equitable title
D. once recorded, the deed to secure debt creates a lien
on the property - ....ANSWER...C. with a security deed,
the lender holds equitable title
3
, Sam sold a property to Emma for $225,000. Sam's loan
balance was $44,500 with an interest rate of 7%.
Emma's conventional loan was at 8% with a 90% loan
to value ratio. The taxes for the year were
$1,250 and the home owner's insurance was $495.
Closing took place on October 30th. Based on this
information, answer the following question.
What was the amount of the property tax proration?
A. $212.33
B. $208.90
C. $1,037.67
D. $1,041.10 - ....ANSWER...A. $212.33
$1,250 divided by 365 = $3.4246 per day x 62 days =
$212.3287 = $212.33
Sam sold a property to Emma for $225,000. Sam's loan
balance was $44,500 with an interest rate of 7%.
Emma's conventional loan was at 8% with a 90% loan
to value ratio. The taxes for the year were
4
