100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
GA MLS Cram Course Knowledge Quiz 2024 Questions and Answers 2024 / 2025 (Verified Answers by Expert) CA$18.67   Add to cart
Quickly navigate to
Preview
  2.  
  3. Georgia Real Estate
  4.  
  5. Georgia Real Estate

Exam (elaborations)

GA MLS Cram Course Knowledge Quiz 2024 Questions and Answers 2024 / 2025 (Verified Answers by Expert)
 5 views  0 purchase
  • Course
  • Georgia Real Estate
  • Institution
  • Georgia Real Estate

GA MLS Cram Course Knowledge Quiz 2024 Questions and Answers 2024 / 2025 (Verified Answers by Expert)

Preview 4 out of 59  pages

Document information

  • August 9, 2024
  • 59
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • ga mls cram course knowledge quiz

Written for

  • Georgia Real Estate
  • Georgia Real Estate

Seller

avatar-seller
BESTGOODIES

Reviews received

Content preview

GA MLS Cram Course Knowledge Quiz.pdf file:///C:/Users/HP/Desktop/TYPA%20NEW/GA%20MLS%20Cra




GA MLS Cram Course



1. How would an unmarried couple take ownership to real property if they wanted full

ownership immediately upon death of the other co-owner?

ANS JointTenancy

2. A person bought 3 lots for $22,000 net each and divided them into fourlots of

equal frontage. The lots then sold for $18,000 each. What was the approximate

percentage of gross profit?

ANS 9%

3. In a trust, legal title to real property is transferred to a person to be held andmanaged by

the person for the benefit of the

ANS beneficiary

4. A person who purchases shares of stock in a corporation that owns a building and

receives a proprietary lease to a specific unit within the buildinghas purchased a

ANS cooperative

5. Several persons own property as tenants in common. One of the owners desires to sell






1 of 59 8/8/2024, 2:53

,GA MLS Cram Course Knowledge Quiz.pdf file:///C:/Users/HP/Desktop/TYPA%20NEW/GA%20MLS%20Cra




the property whereas the other owners prefer to retain the property. If the parties cannot

reach an agreement which action can be takenb the owner that wants to sell

ANS File a partition action

6. A father conveyed the family home to his daughter by will as a pur autre vieestate for

the life of her mother. If the daughter should die before the mother,who gains possession

of the property?

ANS Daughter's heirs

7. Under corporation ownership the lease that grants occupancy of a specific unit to the

stockholder is called a

ANS Proprietary Lease

8. Which of the following would best describe interval ownership?

ANS A timeshareownership in which the owner acquires title to a specific property for a certain

periodof each year

9. Which of the following transactions would most likely be subject to thestate's blue-

sky laws?

ANS Purchase securities in a timeshare ownership plan

10. The owner of a residential condominium unit and a tenant under a leaseboth have

ANS an estate in the property





2 of 59 8/8/2024, 2:53

,GA MLS Cram Course Knowledge Quiz.pdf file:///C:/Users/HP/Desktop/TYPA%20NEW/GA%20MLS%20Cra




11. The owner in a residential subdivision gets a building permit from the county to put

a fence on his property. The fence is in violation of the subdivi-sion's restrictions (CC&R).

An adjoining neighbor in the subdivision objects to the fence. If the homeowner's

association (HOA) fails to enforce the restric-tions the neighbor's best action would be to

ANS apply to the court for an injunction

12. Rules established by local governments to regulate construction stan-dards are

called

ANS building codes

13. Which of the following statements best describes a lien on real property?-



ANS a monetary encumbrance affecting title to the property

14. Broker Dole was showing a buyer different apartments for rent in a specificarea of a

city. The buyer asked Dole to find an apartment that did not allow children as the buyer

desired peace and quiet and felt that children would









3 of 59 8/8/2024, 2:53

,GA MLS Cram Course Knowledge Quiz.pdf file:///C:/Users/HP/Desktop/TYPA%20NEW/GA%20MLS%20Cra




destroy their privacy. Broker Dole should

ANS inform the buyer that only bona fideretirement communities can legally restrict children

15. A salesperson is showing property in a racially changing neighborhood. Which of the

following statements by the salesperson would be appropriate inthis situation?

ANS Based on the information you have provided, I don't think you canafford that property

16. Under the Federal Fair Housing Act, familial status would apply to

ANS Apregnant woman

17. In Georgia, two licensees affiliated with the sam broker are assigned by the broker to

represent the buyer and seller respectively in the same transaction.Under BRRETTA this

would be considered

ANS designated agency

18. A licensee should search the National Do Not Call Registry on a regular basis and

drop registered consumer phone numbers from their call lists.Thisshould be done at least

once every

ANS 31 days

19. Under the CAN-SPAM Act opt-out request must be handled within

ANS 10business days







4 of 59 8/8/2024, 2:53

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

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

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

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 BESTGOODIES. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for CA$18.67. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

81113 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
CA$18.67
  • (0)
  Add to cart