GA REAL ESTATE FINAL EXAM QUESTIONS | TESTED
AND PROVEN ANSWERS | LATEST UPDATE
2024/2025 100% (GRADE A+)
Two days after closing, the seller gives a $500 bonus check to the selling agent. The agent should:
Ans>> Instruct seller that bonuses are illegal
When should a Georgia broker who manages a community association be covered by a fidelity
bond or fidelity insurance?
Ans>> If at any time the broker has access to $60,000 or more of association funds
A buyer sued a licensee for fraud in a real estate transaction and received a judgment in the
amount of $15,000. The licensee owns, free and clear, a cabin in Georgia valued at $10,000.
For the buyer to file a claim against the Real Estate Education, Research and Recovery Fund he
must:
Ans>> Have the property levied upon and sold, then file a claim against the Fund for the
balance remaining to satisfy the judgment.
Which of the following would not be taken into account when estimating sellers' closing costs?
Ans>> Prepayment Penalty
1
,When serving solely as a buyer's agent, it is unlawful for the real estate licensee to disclose any
confidential information about the _______.
Ans>> Buyer
A real estate licensee acting solely as a seller's agent, it is unlawful for the real estate licensee to
disclose any information about the _________.
Ans>> Seller
What conditions must be met to terminate a contract?
Ans>> It is impossible for one of the parties to preform.
What type of lease agreement features a natural break-even point?
Ans>> Percentage Lease
Which one of the following is NOT one of the six moral and ethical responsibilities that an agent
owes the principal in fiduciary relationships under common and statutory law stem?
Ans>> Responsibility
2
, If a salesperson's sponsoring broker mentioned in the written affiliation agreement that the
salesperson could sign a listing as the agent, can the salesperson legally do so in Georgia?
Ans>> Yes, because the salesperson was authorized to do so in the affiliation agreement
One of the main purposes of the FHA is to:
Ans>> Insure Home Loans
What type of loan would be the BEST option for senior homeowners, who have paid off their loan
and would like to receive monthly income?
Ans>> Reverse Mortgage
What is an annual debt-to-service on a mortgage?
Ans>> The monthly mortgage payment multiplied by the number of months in a year.
Define separate property:
Ans>> Property owned by one spouse before marriage or acquired by one spouse during
marriage by gift, inheritance, or with the proceeds of a separate propertyCorrect
3
AND PROVEN ANSWERS | LATEST UPDATE
2024/2025 100% (GRADE A+)
Two days after closing, the seller gives a $500 bonus check to the selling agent. The agent should:
Ans>> Instruct seller that bonuses are illegal
When should a Georgia broker who manages a community association be covered by a fidelity
bond or fidelity insurance?
Ans>> If at any time the broker has access to $60,000 or more of association funds
A buyer sued a licensee for fraud in a real estate transaction and received a judgment in the
amount of $15,000. The licensee owns, free and clear, a cabin in Georgia valued at $10,000.
For the buyer to file a claim against the Real Estate Education, Research and Recovery Fund he
must:
Ans>> Have the property levied upon and sold, then file a claim against the Fund for the
balance remaining to satisfy the judgment.
Which of the following would not be taken into account when estimating sellers' closing costs?
Ans>> Prepayment Penalty
1
,When serving solely as a buyer's agent, it is unlawful for the real estate licensee to disclose any
confidential information about the _______.
Ans>> Buyer
A real estate licensee acting solely as a seller's agent, it is unlawful for the real estate licensee to
disclose any information about the _________.
Ans>> Seller
What conditions must be met to terminate a contract?
Ans>> It is impossible for one of the parties to preform.
What type of lease agreement features a natural break-even point?
Ans>> Percentage Lease
Which one of the following is NOT one of the six moral and ethical responsibilities that an agent
owes the principal in fiduciary relationships under common and statutory law stem?
Ans>> Responsibility
2
, If a salesperson's sponsoring broker mentioned in the written affiliation agreement that the
salesperson could sign a listing as the agent, can the salesperson legally do so in Georgia?
Ans>> Yes, because the salesperson was authorized to do so in the affiliation agreement
One of the main purposes of the FHA is to:
Ans>> Insure Home Loans
What type of loan would be the BEST option for senior homeowners, who have paid off their loan
and would like to receive monthly income?
Ans>> Reverse Mortgage
What is an annual debt-to-service on a mortgage?
Ans>> The monthly mortgage payment multiplied by the number of months in a year.
Define separate property:
Ans>> Property owned by one spouse before marriage or acquired by one spouse during
marriage by gift, inheritance, or with the proceeds of a separate propertyCorrect
3
