Barney Fletcher Review Chap 1-5 questions with
verified answers
A broker must disclose the types of agency relationships offered and
how compensation might be shared with other brokers.
a. prior to signing a contract for sale.
b. prior to showing the property.
c. prior to signing a listing agreement.
d. within a reasonable time. Ans✓✓✓ c. prior to signing a listing
agreement.
A buyer has given an earnest money deposit to Broker Bob, who has
deposited the money in his trust account. A dispute has arisen between
the buyer and the seller as to whether the offer was accepted prior to
its stated expiration. Broker Bob turns the money over to a court and
asks the court to determine who should rightfully receive the money.
This court procedure is called a(n):
a. Intercessory action.
b. Interpleader action.
c. Arbitration action.
d. Nomenclatural action. Ans✓✓✓ b. Interpleader action.
,A buyer has made an offer on a property and given an earnest money
deposit to Broker Bob, who has deposited the money in his trust
account. The buyer withdraws the offer prior to acceptance by the
seller. Broker Bob returns the deposit to the buyer. Is this a permissible
withdrawal from the trust account?
a. Yes.
b. No.
c. Yes, but only with the seller's written consent.
d. No, unless Broker Bob has a court order requiring the withdrawal.
Ans✓✓✓ a. Yes.
A buyer has made an offer on a property and given an earnest money
deposit to Broker Bob, who has deposited the money in his trust
account. The seller rejects the buyer's offer. Broker Bob returns the
deposit to the buyer. Is this a permissible withdrawal from the trust
account?
a. Yes.
b. No.
c. Yes, but only with the seller's written consent.
d. No, unless Broker Bob has a court order requiring the withdrawal.
Ans✓✓✓ a. Yes.
,A Georgia firm licensed as a real estate broker must have an individual
broker that serves as a qualifying broker if the firm is organized as a:
a. Sole proprietorship.
b. Partnership.
c. Corporation.
d. All of these choices. Ans✓✓✓ d. All of these choices.
A Georgia real estate broker may have money earned as commissions
in the broker's trust account:
a. Under no circumstances.
b. Without restriction.
c. As long as the commissions are withdrawn from the trust account
within 24 hours of being earned.
d. As long as the commissions are withdrawn at least monthly.
Ans✓✓✓ d. As long as the commissions are withdrawn at least
monthly.
A person who has a military service-related disability of 50% is taking a
Georgia licensing exam. Which of the following statements is correct
about this applicant.
, a. This applicant could receive an extra 5 points added to the score on
the salesperson's license only.
b. This applicant could receive an extra 5 points added to the score on
either the salesperson's or broker's exam.
c. This applicant could receive an extra 10 points added to the score on
the salesperson's license only.
d. This applicant could receive an extra 10 points added to the score on
either the salesperson's or broker's exam. Ans✓✓✓ d. This applicant
could receive an extra 10 points added to the score on either the
salesperson's or broker's exam.
A person who is taking a Georgia real estate licensing exam has served
in the US military for at least one year, with at least 90 days of that time
in wartime. Which of the following statements is correct about this
applicant.
a. This applicant could receive an extra 5 points added to the score on
the salesperson's license only.
b. This applicant could receive an extra 5 points added to the score on
either the salesperson's or broker's exam.
c. This applicant could receive an extra 10 points added to the score on
the salesperson's license only.
d. This applicant could receive an extra 10 points added to the score on
either the salesperson's or broker's exam. Ans✓✓✓ b. This applicant
could receive an extra 5 points added to the score on either the
salesperson's or broker's exam.
verified answers
A broker must disclose the types of agency relationships offered and
how compensation might be shared with other brokers.
a. prior to signing a contract for sale.
b. prior to showing the property.
c. prior to signing a listing agreement.
d. within a reasonable time. Ans✓✓✓ c. prior to signing a listing
agreement.
A buyer has given an earnest money deposit to Broker Bob, who has
deposited the money in his trust account. A dispute has arisen between
the buyer and the seller as to whether the offer was accepted prior to
its stated expiration. Broker Bob turns the money over to a court and
asks the court to determine who should rightfully receive the money.
This court procedure is called a(n):
a. Intercessory action.
b. Interpleader action.
c. Arbitration action.
d. Nomenclatural action. Ans✓✓✓ b. Interpleader action.
,A buyer has made an offer on a property and given an earnest money
deposit to Broker Bob, who has deposited the money in his trust
account. The buyer withdraws the offer prior to acceptance by the
seller. Broker Bob returns the deposit to the buyer. Is this a permissible
withdrawal from the trust account?
a. Yes.
b. No.
c. Yes, but only with the seller's written consent.
d. No, unless Broker Bob has a court order requiring the withdrawal.
Ans✓✓✓ a. Yes.
A buyer has made an offer on a property and given an earnest money
deposit to Broker Bob, who has deposited the money in his trust
account. The seller rejects the buyer's offer. Broker Bob returns the
deposit to the buyer. Is this a permissible withdrawal from the trust
account?
a. Yes.
b. No.
c. Yes, but only with the seller's written consent.
d. No, unless Broker Bob has a court order requiring the withdrawal.
Ans✓✓✓ a. Yes.
,A Georgia firm licensed as a real estate broker must have an individual
broker that serves as a qualifying broker if the firm is organized as a:
a. Sole proprietorship.
b. Partnership.
c. Corporation.
d. All of these choices. Ans✓✓✓ d. All of these choices.
A Georgia real estate broker may have money earned as commissions
in the broker's trust account:
a. Under no circumstances.
b. Without restriction.
c. As long as the commissions are withdrawn from the trust account
within 24 hours of being earned.
d. As long as the commissions are withdrawn at least monthly.
Ans✓✓✓ d. As long as the commissions are withdrawn at least
monthly.
A person who has a military service-related disability of 50% is taking a
Georgia licensing exam. Which of the following statements is correct
about this applicant.
, a. This applicant could receive an extra 5 points added to the score on
the salesperson's license only.
b. This applicant could receive an extra 5 points added to the score on
either the salesperson's or broker's exam.
c. This applicant could receive an extra 10 points added to the score on
the salesperson's license only.
d. This applicant could receive an extra 10 points added to the score on
either the salesperson's or broker's exam. Ans✓✓✓ d. This applicant
could receive an extra 10 points added to the score on either the
salesperson's or broker's exam.
A person who is taking a Georgia real estate licensing exam has served
in the US military for at least one year, with at least 90 days of that time
in wartime. Which of the following statements is correct about this
applicant.
a. This applicant could receive an extra 5 points added to the score on
the salesperson's license only.
b. This applicant could receive an extra 5 points added to the score on
either the salesperson's or broker's exam.
c. This applicant could receive an extra 10 points added to the score on
the salesperson's license only.
d. This applicant could receive an extra 10 points added to the score on
either the salesperson's or broker's exam. Ans✓✓✓ b. This applicant
could receive an extra 5 points added to the score on either the
salesperson's or broker's exam.
