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Georgia Real Estate Class Final , Georgia Real Estate State Portion, Real Estate Exam Study Set, Exam Vocabulary, Exam Prep Scenario ,License Exam, GA Real Estate Practice, Real Estate Practice Test , GA REAL ESTATE EXAM PREP / HARD , Georgia Real Estate Exam Study Guide with Complete Solutions(SCORED A+)

Anti-Trust - ANSWER-An area of law concerned with maintaining competition in private markets by prohibiting any restraint on trade. Georgia Real Estate Commission - ANSWER-Pass rules and regulations that govern real estate licensees Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA) - ANSWER-A federal law enacted by Congress in 1980 to create a tax on the chemical and petroleum industries and provided broad authority to respond directly to releases or threatened...

When you list an owner's property for sale you owe them client level services, fiduciary services which include - ANSWER-confidentiality, loyalty, obedience, full disclosure a recent appraisal on a property reveals that a home has a leaking roof, dirty carpeting, updated granite countertops, central heat and air, a full basement, but the home is affected by a busy highway. What type of depreciation does it suffer from? - ANSWER-physical depreciation due to the roof and carpet and economic du...

Legal competency age in Georgia is: a. 15 b. 18 c. 21 d. 16 - ANSWER-B. What does BRRETA stand for? a. The Brokerage Real Estate Training Act b. The Brokerage Real Estate Transactions Act c. The Brokerage Relationships in Real Estate Transactions Act d. The Georgia Basic Relationships in Real Estate Transactions Act - ANSWER-C. The Georgia Real Estate Commission is composed of: a. Three brokers, two salespersons, and a district representative and a representative of the public at ...

Based on the ability to accept assignments, which appraiser has the most latitude? - ANSWER-certified general Which state agency is responsible for the implementation of the Georgia Lead Paint Prevention Act of 1994? - ANSWER-GA Dept of Natural Resources How far back does a normal Georgia title search go? - ANSWER-50 years A Georgia fee or tax imposed on the recording of a warranty deed is - ANSWER-transfer tax Real property legal descriptions in Georgia can NOT be based on - ANSWER-...

Best describes parcel of land - ANSWER-the surface of the earth extending down to the center and upward to infinity Determining if Fixture, NOT considered - ANSWER-Value of item Characteristic in difference btwn personal prop. from real property. - ANSWER-mobility When used in deed or other RE doc., legal description describes only land bc - ANSWER-buildings/other improvements considered part of the real estate Item was personal property attached to and become part of the real proper...

When applying for a loan, what is a fixed rate? - ANSWER-A loan that has a predetermined repayment interest rate What act prohibits discrimination based on race or color? - ANSWER-Civil Right Acts Of 1866 What is the financial document that contains a written promise to fulfill a certain payment? - ANSWER-Promissory note What is the term used to describe the act of replacing an existing mortgage with another? - ANSWER-Refinancing What are not examples of an appurtenant right? - ANSWE...

Title - ANSWER-Document that shows ownership Alienation - ANSWER-To sell or convey Transfer: change of ownership Legal Title - ANSWER-Ownership with right of possession and use Equitable Title - ANSWER-Right to legal title upon completion of contract Buyer receives after they go into contract until seller meets all buyer's needs also closing costs Bare (naked) Title - ANSWER-Ownership without possession rights or use Some states use a third party to hold the title (trustee) unt...

Georgia Real Estate Commission members serve terms of four years. five years and serve until a replacement is named. two years and may serve three terms three years and may serve two terms. - ANSWER-five years and serve until a replacement is named. Further regarding trust accounts, which of these statements is correct? All brokers, active and inactive, are required to maintain trust accounts. Only active brokers are required to maintain trust accounts. A firm or broker may maintain only ...

Angie owns a four-plex. She lives in one unit and rents out the others - ANSWER-Which of the following may represent an exemption from Georgia fair housing laws Kiting - ANSWER-Representing the sale price on a home as an amount greater than what it actually sold for is considered Providing financing for diverse housing communities - ANSWER-Which is NOT a focus of Georgia's Fair Housing Division Conducting an appraisal of the business - ANSWER-Which of the following is NOT a legal activ...

What fines may be imposed by the Commission for rules violations? - ANSWER-A maximum of $1,000 for a single offence or $5,000 for multiple violations Charging advance brokerage fees is - ANSWER-a duty of a broker. Agency can best be described as - ANSWER-a written representation agreement between broker and client. Which is true concerning the Commission Chairperson? - ANSWER-He is appointed by the Commission members annually. The Georgia Real Estate Commission is - ANSWER-comprised ...

Accrued interest on loan assumed. - ANSWER-Which of the following costs is usually a credit on the estimated purchaser's cost worksheet? Hazard insurance is - ANSWER-prepaid in advance negotiable between the buyer and seller - ANSWER-The payment of the intangibles taxes are: If neither Baird or Carr are licensed as brokers, a qualifying broker must be hired and must be named as an officer of the corporation - ANSWER-Licensees Baird and Carr decide to form a corporation for the purpose ...

Deed - ANSWER-Document used to transfer title. Title - ANSWER-Land+ deed, (who are the owners and what are their rights?) Real Estate - ANSWER-Land+appurtenances (right or improvement attached to the land) Two types of characteristics of land: - ANSWER-Physical & economic What are the physical characteristics of land? - ANSWER-Immovable, indestructible,unique(non-homogenous) What are the economic characteristics of land? - ANSWER-Scarcity, improvable, permanence of investment; sit...

Georgia Real Estate Commission size - ANSWER-6 members Georgia Real Estate Commission appointed by - ANSWER-Governor of Georgia Georgia Real Estate Commission confirmed by - ANSWER-Georgia state senate How long are each of the Georgia Real Estate Commission members' terms? - ANSWER-5 years How many members of the 6-member Georgia Real Estate commission must be real estate licensees? - ANSWER-5 Does the sixth member of the Georgia Real Estate Commission have any interest in the re...

Personal property that, by its attachment to real property, is regarded as real estate is called: A. an emblements B. personalty C. a fixture D. an appliance - ANSWER-C. a fixture What is the main purpose of police power? A. to protect the health, safety, and welfare of the community B. to prevent people from committing crimes C. to put out fires D. to make sure the property owners and citizens know their place - ANSWER-A. to protect the health, safety, and welfare of the communit...

Easement by prescription - ANSWER-Easement acquired by continuous open and hostile use of the property for the period of time prescribed by state law Easement by necessity - ANSWER-Easement allowed by law as necessary for the full enjoyment of parcel of real estate .(right of ingress and egress over a grantors land) Rescission - ANSWER-The practice of one party canceling or terminating a contract. Mortgagee - ANSWER-The bank(receiving the house) Tax prorations - ANSWER-Taxes are paid...

How often *must* you take continuing education? - ANSWER-*Every 4 years*. In Georgia, which of the following is *NOT* a cost or expense of owning a home? - ANSWER-Taxes on *personal property*. A *Broker's*, license fee costs how much? - ANSWER-*$170* All of the following, exist in Georgia *EXCEPT*. Ad valorem Taxation, Special Assessments, Statutory Right of Redemption, Equitable Right of Redemption - ANSWER-*Statutory Right of Redemption* Which of the following statements about a *...

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Accession - ANSWER-The acquisition of title by the owner of real property to those things attached to the property by others, such as tenants, trespassers, or by nature. Acre - ANSWER-A measure of land area equal to 43560 square feet. 43560 - ANSWER-The number of squarefeet in one acre. Active License - ANSWER-Status of an individual who has met all qualifications to practice real estate as a broker, associate broker, or salesperson; and such license is held by a broker, rather than by ...

Administrator; 87101 a.1. - ANSWER-Individual designated by the licensee to act on behalf of the licensee in the overall management of the facility Admission Agreement; 87101 a.2. - ANSWER-All documents that a resident or resident's representative must sign at the time of, or as a condition of admission Adult; 87101 a.3. - ANSWER-a person who is 18 years or older Advance Health Care Directive; 87101 a.5. - ANSWER-A written instruction that relates to the provision of health care when t...