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Georgia real estate exam/136 Questions with Answers
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Georgia real estate exam/136Questions with Answers
Accrued interest on loan assumed. - -Which of the following costs is usually
a credit on the estimated purchaser's cost worksheet?
-Hazard insurance is - -prepaid in advance
-negotiable between the buyer and seller - -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 - -Licensees Baird
and Carr decide to form a corporation for the purpose of providing real
estate brokerage services. Which of the following statements is correct
concerning this situation?
-an advertising fee. - -Persons are exempt from the license requirement
when they contract primarily to promote the sale of real estate through
listings in a publication issued for that purpose and their compensation is
only in the form of
-The new broker agrees in writing to assume responsibility for the licensee's
actions - -A licensee transferring to a new broker may continue to act as a
licensee for the former broker with regard to transactions begun prior to the
transfer. Which of the following statements is incorrect concening this
situation?
-Complete a CMA or BPO for a seller or buyer. - -In Georgia, a person
holding only a real estate license could legally do which of the following?
-appoint the Real Estate Commissioner - -The Georgia Real Estate
Commission is authorized to
-Which of the following is NOT true about the Real Estate Commissioner? - -
He or she is a part-time employee of the Commission.
-set real estate commission rates charged by licensed brokers. - -The
Georgia Real Estate Commission is NOT authorized to:
-Six members each of whom is appointed by the governor and confirmed by
the senate for a term of five years. - -The Georgia Real Estate Commission is
composed of
, -marital status. - -When showing a buyer residential properties, a licensee
could take into consideration the buyer's
-$30 per year, to be paid upon renewal of license - -To insure that a
minimum balance of $1 million is maintained in the real estate education,
research, and recovery fund the Commission, in addition to the license fees,
may assess each licensee an amount not to exceed:
-$25,000 - -The liability of the Education, Research and Recovery Fund is
terminated upon the issuance of court orders authorizing payments in what
amount in any single transaction, regardless of the number of people
aggrieved?
-have the property levied upon, sold, and file a claim against the Real Estate
Education Research, and Recovery Fund for the balance remaining to satisfy
the judgment - -A buyer sued a real estate salesperson for fraud in a real
estate transaction and received a judgment in the amount of $15,000. The
salesperson owns a cabin in Gcorgia valued at $10,000, free and clear. For
the buyer to file a claim against the Real Estate Education, Research, and
Recovery Fund he must
-$75,000 - -The liability of the Real Estate Education, Research, and
Recovery Fund for the acts of a licensee is terminated upon the payments
from the fund in aggregate amounts of
-both the name of the bank and the number or name of the account within
one month of opening the account. - -If a Georgia real estate broker is
required to maintain a trust account or escrow account, they must provide
the Commission with:
-the name of the firm that is registered with the Commission and a
telephone number for the firm. - -In advertising a specific property or
properties for sale or rent, all real estate forms must include in the
advertisement:
-They are forwarded to the Commission and the licensees shall then transfer
the license to another broker or apply to place the license on inactive status
within one month of the Commission receiving it. - -In Georgia, if a broker's
license is revoked, what is the status of the affiliated sales associates
licenses?
-30 days - -A licensee must notify the Commission in writing of a change of
address, of the opening or closing of a designated trust account or
transferring to a new company within:
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