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GA REAL ESTATE EXAM PREP / HARD
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GA REAL ESTATE EXAM PREP / HARD
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GA REAL ESTATE EXAM PREP / HARDHow often *must* you take continuing education? - Answers -*Every 4 years*.
In Georgia, which of the following is *NOT* a cost or expense of owning a home? -
Answers -Taxes on *personal property*.
A *Broker's*, license fee costs how much? - Answers -*$170*
All of the following, exist in Georgia *EXCEPT*. Ad valorem Taxation, Special
Assessments, Statutory Right of Redemption, Equitable Right of Redemption - Answers
-*Statutory Right of Redemption*
Which of the following statements about a *Management Agreement* is *FALSE*? -
Answers -*It is FALSE that*: it requires the Property Manager to work diligently to
maximize the Licensee's rate of return.
An item of *Functional Obsolescence* is considered *incurable* if the: - Answers -cost
to repair is more than the value it ads.
What is *TRUE* about an *Associate Broker* in Georgia? - Answers -Both A&B: *A*. An
Associate Broker may perform any real estate brokerage act that requires a license.
*B*. An Associate Broker acts on behalf of a Broker.
The period of time in Georgia in which *Adverse Possession* ripens is: - Answers -
*Seven (7) years under Color of Title.*
Is Georgia a *Community Property State?* - Answers -*No*
Does Georgia have *Dower Laws?* - Answers -*No*
In Georgia, *Broker Duties* owed to a client: - Answers -Are determined by *BRRETA*
or *Brokerage Relationships in Real Estate Transaction's act*
Georgia uses which of the following *theories of mortgage (security deed)*? - Answers -
*Intermediate Theory.*
An auctioneer who auctions real estate *MUST* have. - Answers -*BOTH* a Real
Estate Sales Person's or Broker's license and an Auctioneer's license.
A man has been a Georgia licensed Sales Person for four years. When his license is
renewed, *he must furnish the commission evidence of completing approved continuing
education courses totaling at least how many hours for each year of the renewal
period?* - Answers -6 hours per year or 24 hours total for four years
, Under the Georgia Condominium Act, which of the following must be in the
Condominium Declaration? - Answers -Both the name of the condominium, which must
contain the word "condominium".
In Georgia, when a lender wants to *prevent a future purchaser of the property from
being able to assume the loan*, what clause does the lender place into the Security
Deed? - Answers -*Alienation*.
A *Salesperson* license fee costs how much? - Answers -*$170*
The states in which the *owner gives up legal title* of mortgaged real estate are known
as: - Answers -*Title Theory States*
Which is not necessary for a valid contract? - Answers -*due Date*
Georgia law, *ALLOWS* which of the following form(s) of Co-ownership? - Answers -
*Community Property*
If a landlord has a tenant who has not paid rent and is removing personal belongings
from the property, the landlord can file an Affidavit for: - Answers -*Distraint*
Who is responsible for maintaining a habitable property, and for complying with local
housing and building codes? - Answers -*Lessor*
The *Georgia Real Estate Commission* may initiate an investigation of an applicant for
*Licenseure or a License* - Answers -*By either its own motion or upon written request*.
In Georgia, the statute of limitations to bring legal action based on a real estate sales
contract is: - Answers -*6 years*
Which of the following *BEST EXPRESSES* the concept of equity? - Answers -*Current
market value minus property debt*
In Georgia, which legal document *pledges* the property as collateral for the lender to
receive a return of funds at a foreclosure sale? - Answers -*Security Deed*
A broker is responsible if an *affiliated licensee violates any provisions* of the Georgia
Real Estate License Law unless the Broker is able to demonstrate: - Answers -That the
Broker *did not participate or ratify* the violation.
For a Salesperson, each of the following is considered an unfair practice under The
Georgia License Law, *EXCEPT* - Answers -*EXCEPT* Indicating a fixed date of
expiration in a listing agreement.
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