GA Real Estate State Exam Practice Questions and Correct Answers
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Course
GA REAL ESTATE
Institution
GA REAL ESTATE
GA Real Estate State Exam GA Real Estate State Exam GA Real Estate State Exam GA Real Estate State Exam GA Real Estate State Exam GA Real Estate State Exam GA Real Estate State Exam GA Real Estate State Exam GA Real Estate State Exam GA Real Estate State Exam GA Real Estate State Exam GA Real Estat...
GA Real Estate State Exam Practice Questions
and Correct Answers
In Georgia, what can a broker do for a buyer customer, as compared to a client?
- Advocate for the buyer's best interests
- Everything except for negotiation
- Only ministerial tasks
- Provide advice on all aspects of the real estate purchase process
✓ ~~~ Only ministeral tasks
Which of the following statements about continuing education requirements is true
for real estate licenses in Georgia?
- For each renewal cycle, 25 hours of post licensing education and 36 hours of
continuing education are required.
- For the first four year renewal, only the 25 hours of post licensing are required. For
subsequent renewals 36 hours of continuing educational required.
- For the first license renewal, licenses may opt out to complete the 25 post licensing
hours in the 36 hours to continuing education at any time during the four year
renewal period.
- The first renewal cycle, 25 hours of continuing education must be completed within
one year of license issuance, and another 27 hours of continuing education are
required.
✓ ~~~ The first renewal cycle, 25 hours of continuing education must be completed
within one year of license issuance, and another 27 hours of continuing education
are required.
Which of the following situations would be classed as familial status under fair
housing laws in Georgia?
- A 28-year-old who has moved in with a single mother
- A group of college students sharing a home
- A married couple in the process of adopting a child
- Family members older than 60 who are sharing a home
✓ ~~~ A married couple in the process of adopting a child
After a fierce bidding war with three other potential buyers, the Carson's enter into an
agreement that includes $2000 earnest money. When the sale is later terminated the
earnest money goes to______.
, - The buyer
- The lender
- The seller
- Whichever party belongs to based on the agreement terms
✓ ~~~ Whichever party it belongs to based on the agreement terms
Marco, a buyer in Atlanta, wants to terminate his buyers representation agreement
with his agent. What is TRUE about this situation?
- He cannot terminate the agreement under any circumstances.
- He can only terminate after the protected period has ended.
- He may or may not owe an amount under the terms of the agreement.
- He's not allowed to terminate until the terms of the contract have been performed.
✓ ~~~ He may or may not owe an amount under the terms of the agreement.
When discussing brokerage compensation policies, brokers must disclose______.
- How brokers representing other parties will be paid
- How much compensation the broker collected in the last year
- The average out-of-pocket expenses required in an engagement
- The guaranteed maximum commission the client will pay
✓ ~~~ How brokers representing other parties will be paid
Georgia licensee Greg and buyer Sandra's exclusive buyer agency agreement was
set to expire on March 1. On February 10, Sandra signed a contract with a seller, but
it fell through 10 days later, due to a home inspection issue. What's the termination
date of Greg and Sandra's buyer agency agreement?
- Feb 10
- Feb 20
- March 1
- March 11
✓ ~~~ March 11
Greg and Sandra's buyer agency agreement is extended to accommodate the 10
days they were under contract, so the new expiration date is March 11.
What do unfair trade practice laws in Georgia prohibit?
- Disclosures regarding the risk of a transaction
- Discrimination against consumers based based on race, sex, nationality, or job type
- Fair and honest deals
- Unfair and deceptive business acts or practices
✓ ~~~ Unfair and deceptive business acts or practices
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