Colibri Real Estate (Real Estate Express) Final
Exam Review Questions and Answers (2022
75-Hour Georgia Salesperson Prelicense
Course)
Broker Jane has been accused of a law violation regarding commissions.
Which of the following might result in her being found guilty?
A) Jane paid a commission to her licensed personal assistant.
B) Jane paid a commission to the wife of one of her licensees who was
recently killed in an auto accident. The deceased licensee had earned the
commission prior to his death.
C) Jane paid a commission plus a bonus to one of her licensees.
D) Jane paid a commission to a Florida licensee who is not licensed in
Georgia for licensing activity in Georgia. - -D) Jane paid a commission to a
Florida licensee who is not licensed in Georgia for licensing activity in
Georgia.
- Any salesperson can legally receive her share of the commission on a sale
from
A) her employing broker only.
B) any cooperating broker with whom she completes a sale.
C) a builder she represents in a sale
D) the purchaser of the home in a successful sale. - -A) her employing
broker only.
- Which of the following is NOT a protected class under Georgia fair housing
law?
A) Sexual preference
B) Familial status
C) Religion
D) Race - -A) Sexual preference
- Syed is an inactive licensee. He just moved to a new home across town.
What must he do?
A) Call the Commission and give it his new address.
B) Report the address change when he's ready to reactivate his license.
C) Send a written notice to the Commission within 30 days.
D) Notify the post office to send a change of address notice to the
Commission. - -C) Send a written notice to the Commission within 30 days.
, - How many hours of continuing education must a licensee complete for
each year of licensure?
A) 8 hours
B) 9 hours
C) 5 hours
D) 4 hours - -B) 9 hours
- Glenda is the office manager for a local real estate firm. She is responsible
for coordinating the paperwork flow through the office, preparing ads and
supervising the clerical staff. Glenda is
A) required to have a salesperson's license.
B) violating license law.
C) required to have a broker license.
D) exempt from the license law. - -D) exempt from the license law.
- Haru is working with his buyers to draw up a written offer on a property
they want to purchase. Which of the following items is not required in the
offer?
A) The property description
B) The mortgage lender
C) The method of payment
D) Special stipulations the offer requires - -B) The mortgage lender
- Kezia just bought and closed on a new home that cost $195,000. her
mortgage amount is $165,500. how much is the intangible recording tax on
Kezia's property?
A) $585
B) $195
C) $165.50
D) $496.50 - -D) $496.50
*An intangible recording tax is due and payable on each instrument securing
one or more long-term notes at the rate of $1.50 per each $500
$165,500 ÷ $500 = 331
331 x $1.50 = $496.50
- Salesperson Gordon refuse to accept an offer to purchase his home from
buyer Juan Valdez of Columbia because Gordon feels the earnest money of
$100 is not enough. Which of the following statements about Gordon's
refusal is correct?
,A) Gordon is in violation of fair housing law because he discriminated on the
basis of national origin.
B) Since Gordon refused on the basis of the earnest money, he is not in
violation of fair housing law.
C) Gordon is in violation of civil rights law because he discriminated on the
basis of race.
D) Gordon is guilty of redlining - -B) Since Gordon refused on the basis of the
earnest money, he is not in violation of fair housing law.
- Jada is a community association manager. Which of the following would be
one of her duties?
A) Advising an owner about his legal liability for a visitor's injury on his
property.
B) Following the instructions of all the owners in the community association.
C) Lending $1,000 to the community association.
D) Sending a monthly newsletter to the owners. - -D) Sending a monthly
newsletter to the owners.
- Which of the following does NOT need to be included in a property
management agreement?
A) A specific description of the property
B) The names of the owners
C) The names of the tenants
D) The terms of the management fee - -C) The names of the tenants
- Gary got his license in May of 2021. His birthday is September 28. When
will his license expire?
A) May 31, 2025
B) September 1, 2025
C) September 30, 2025
D) May 1, 2009 - -C) September 30, 2025
*Real estate licenses expire on the last day of the licensee's birth month,
every 4 years.
- A seller's agent must disclose any adverse physical conditions in the
immediate neighborhood within _______ of a property.
A) 1 mile
B) 2 miles
C) 5 miles
D) 10 miles - -A) 1 mile
, - Jadarius has had his license suspended. By law, Jadarius's name will b e
published on the Georgia Real Estate Commission website if the licenses has
been suspended for how long?
A) 15 days
B) 30 days
C) 60 days
D) 90 days - -C) 60 days
- Why was the Real Estate Education, Research and Recovery Fund
established?
A) To educate the public about real estate
B) To fund courses for real estate agents
C) To compensate consumers damaged by licensees' practices
D) To conduct real estate research projects - -C) To compensate consumers
damaged by licensees' practices
- Which of these persons would require a real estate license?
A) Suresh is a full-time employee of a utility company. He negotiates and
acquires leases for the company.
B) Greta is an attorney who conveys real estate under a power of attorney.
C) Jack refers clients to his licensed broker brother and receives a fee from
the parties he refers.
D) A partnership sells a building owned by the partners. - -C) Jack refers
clients to his licensed broker brother and receives a fee from the parties he
refers.
- Broker Larry received an earnest money check from a buyer for $3,000. He
needed the money, so he cashed the check. At closing, he gave the seller a
check for $3,180, the amount of the original check plus 6% interest. Which
statement is true?
A) Larry should have deposited the earnest money in a federally-insured
account with other escrow funds.
B) It was okay that Larry cashed the check, but he should not have given the
interest to the seller.
C) Larry should have deposited the check into his personal account and kept
the interest.
D) Larry should have discussed what to do with the interest with all of the
parties involved in the transaction. - -A) Larry should have deposited the
earnest money in a federally-insured account with other escrow funds.
- Which of the following is true of Georgia support personnel?
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 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 Victorious23. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for £16.65. You're not tied to anything after your purchase.
