GA real estate exam practice questions and answers rated A
1 view 0 purchase
Course
GA real estate
Institution
GA Real Estate
GA real estate exam practice questions and answers rated A
The owner of an apartment building has just signed an agreement with a real estate firm. Has an agency been formed? Yes, because an agency is formed whenever one party delegates to another the right to act on his behalf in certain business...
ga real estate exam practice questions and answers rated a
the owner of an apartment building has just signed an agreement with a real estate firm has an agency been formed yes
Written for
GA real estate
All documents for this subject (243)
Seller
Follow
BrilliantScores
Reviews received
Content preview
GA Real Estate License Exam Questions
and Answers Rated A
Georgia Real Estate Commission size ✔✔6 members
Georgia Real Estate Commission appointed by ✔✔Governor of Georgia
Georgia Real Estate Commission confirmed by ✔✔Georgia state senate
How long are each of the Georgia Real Estate Commission members' terms? ✔✔5 years
How many members of the 6-member Georgia Real Estate commission must be real estate
licensees? ✔✔5
Does the sixth member of the Georgia Real Estate Commission have any interest in the real
estate industry? ✔✔No, they must have an interest in consumer affairs only
How are the Georgia Real Estate Commission members' terms staggered? ✔✔Only one licensee
member's term can expire each year
,How long must one be actively licensed to qualify as member of the Georgia Real Estate
Commission? ✔✔5 years
How long must one be a resident of Georgia to qualify as a Georgia Real Estate Commission
member? ✔✔5 years
What is the first purpose of the real estate license law and the members of the Commission who
enforce it? ✔✔To protect the public from any harmful acts of people acting as real estate
licensees by assuring that licensees meet basic levels of competency. This includes either
intentional or unintentional acts.
What is the second purpose of the real estate license law and the members of the Commission
who enforce it? ✔✔To create a regulatory environment for the real estate industry that is
reasonable and allows the licensee to attain economic success
Commission members' responsibilities ✔✔1. Developing a spirit of cooperation and unity among
Commission members; 2. Evaluating staff operations; 3. Establishing a fair qualifying process; 4.
Establishing a fair and unbiased hearing process; 5. Communicating with the industry and the
public.
,What section of law is the Georgia Real Estate Commission's authority based upon?
✔✔Statutory law
Statutory law ✔✔The written law established by enactments expressing the will of the
legislature, as distinguished from the unwritten law or common law.
What is the purpose of the Commission's rules and regulations? ✔✔To clarify sections of the
real estate law
Who administers the license law that regulates brokers, salespersons, and community association
managers? ✔✔The Georgia Real Estate Commission
Who's authority involves these four separate categories? 1. Issuing licenses; 2. Taking
disciplinary action; 3. Passing rules and regulations; 4. Establishing fees ✔✔The Georgia Real
Estate Commission
Rules and regulations set forth by the Georgia Real Estate Commission may only be adopted if
they fall under the "umbrella" of which type of Georgia law? ✔✔License law
, Is it against the law to practice real estate without a license? ✔✔Yes
What does the Commission have the authority to do if a person is discovered practicing real
estate without a license? ✔✔Issue a cease and desist order and impose a fine of up to $1,000 per
day for the violation
What level of offense is practicing real estate without a license? ✔✔Misdemeanor
What is the jail sentence for practicing real estate without a license, imposed by the courts?
✔✔One year or less
Who is exempted from having a real estate license? (1) ✔✔An owner of real estate, the spouse of
an owner, a prospective purchaser or their regular employees or spouses
Who is exempted from having a real estate license? (2) ✔✔An *attorney in fact* under a duly
executed power of attorney to convey real estate from the owner/lessor.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller BrilliantScores. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.49. You're not tied to anything after your purchase.
