COLIBRI REAL ESTATE 30 HOUR FINAL PRACTICE EXAM AND LATEST COMPREHENSIVE STUDY GUIDE NEWEST ALL 300 COMPLETE ACTUAL TEST QUESTIONS AND CORRECT ANSWERS (100 CORRECT VERIFIED SOLUTIONS)

COLIBRI REAL ESTATE FINAL EXAM- b b bb b




2024/2025
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1. All six members of the Georgia Real Estate Commission are appointed b
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y - Precise Answer ✔✔The Governor of Georgia
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How many commission members must be licensed -
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Precise Answer ✔✔Five of the six members of the Georgia Real Estate can
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have licenses One must be an unlicensed member of the " general public 3.
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EARLNOTES


What must happen with all funds in a sale -
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Precise Answer ✔✔All money that belongs to clients or customers must be
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deposited in the brokerage trust fund as soon as possible ASAP after receip
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t. b




What is the procedure for license expiration -
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Precise Answer ✔✔When a license has been lapsed for more than two year
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s but less than five years the former licensee may request reinstatement and
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retake a 75 - hour pre - b b b b b b


license course . After ten years the former licensee must follow the proced
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ure for new applicants .
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Which descrihes dual agency - b b b b



Precise Answer ✔✔When a broker appoints one of his agents to serve the s
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,eller and one to serve the buyer , they are called designated agents and the b
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roker will serve as a dual agent .
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What happens when someone recieves mistreatment from a real estate lice
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nsee - b



Precise Answer ✔✔When a consumer or client ( not another licensee or a r
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elative of the accused licensee ) is financially damaged by the actions of a li
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censee , he or she can file , through the court a claim against the Georgia Re
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al Estate Education , Research and Recovery Fund for reimbursement up to
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$ 25,000 per transaction .
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For a brokerage or any licensee under a managing broker to be considered a
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Dual Agent , he / she must -
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Precise Answer ✔✔obtain written permission from both the seller and the
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buyer before acting on behalf of either party . BIRTH MONTHS
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When are renewal deadlines for licensees -
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Precise Answer ✔✔All renewal deadlines for licenses are set for the last da
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y of the licensee's birth month every four full years . ( The licensee's first re
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newal period may be longer , depending on when the license was obtained .
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It starts the last day of the birth month that arrives after the license is obtain
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ed ) . b b




What is the training hours required for licensees -
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bPrecise Answer ✔✔Assuming a licensee has competed the 25 -
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bhour GA Post License Course during the first year of licensure ) , he will re
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ceive credit for 9 hours of Continuing education and will only need to comp
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lete 27 hours of CE during the rest of the licensee's first licensure period . F
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, or the second four -
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byear period and each renewal thereafter . the requirement is 36 hours of CE
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.


If a buyer client wishes to withdraw from a contract and get h his earnest m
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oney returned the salesperson must -
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Precise Answer ✔✔REFER the issue to the EMPLOYING or managing B
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ROKER for a decision b b b




When every original license fee is received , of the funds received _____fro
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m each license fee is allocated to fund the RE Education , Research and Rec
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overy Fund - Precise Answer ✔✔20$
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The clause in an agency agreement used to safeguard the broker from unscr
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upulous buyers or sellers , who would take the broker's generated leads , bu
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t then buy or sell the property once the listing agreement has expired in orde
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r to avoid paying the commission to the licensee is known as -
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bPrecise Answer ✔✔The Safety or Carryover Extender Clause .
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Under GA Law , a listing broker -
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Precise Answer ✔✔does not have to share his sales commission with the s
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elling broker who has procured the ultimate buyer, this is legal and not agai
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nst GA real estate law.
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Every brokerage must maintain - b b b b



Precise Answer ✔✔an accounting system to detail all receipts and deposit
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s received from others that are under the control of the brokerage.
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