Georgia Real Estate Commission (GREC) Quiz

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Question 1 of 21

1. Question
How many in-class hours are required to achieve a salesperson
- 60 Hours
- 25 Hours
- 75 Hours
- 45 Hours
- None of the above
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Question 2 of 21

2. Question
How many in-class hours are required to achieve a broker
- 60 Hours
- 25 Hours
- 75 Hours
- 45 Hours
- None of the above
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Question 3 of 21

3. Question
After obtaining a license, what requirements below must the salesperson meet?
- Completion of 36 hours of an approved continuing education course
- Complete at least 2 real estate related transactions to avoid being put into an inactive status
- Completion of 25 hours of an approved continuing education course within the first 30 days
- Completion of 25 hours of an approved continuing education course within the first year
- None of the above
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Question 4 of 21

4. Question
What is the license period in Georgia?
- 2 years
- 4 years
- 6 months
- 1 year
- None of the above
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Question 5 of 21

5. Question
What is the minimum age requirement to obtain a broker’s license?
- 18
- 16
- 21
- 30
- None of the above
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Question 6 of 21

6. Question
During the license period in Georgia, what is the specific day that the license renews and how many hours of an approved continuing education class must be completed by that time?
- On the first day of the license holder's birth month they must have completed 36 hours of an approved continuing education course.
- On the birthday of the license holder they must have completed 25 hours of an approved continuing education course.
- On the last day of the license holder's birth month they must have completed 36 hours of an approved continuing education course.
- On the day of receiving their original license, a license holder must have completed 25 hours of an approved continuing education course.
- None of the above
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Question 7 of 21

7. Question
What is a lapse in a license?
- When not all of the criteria for keeping and maintaining a license are met and the license is stripped from the license holder.
- When the post-licensure educational requirement is not met and a license holder must turn in their wall certificate of licensure as well as their pocket card to the Commission. They have 6 months to complete any required course to reinstate their license meeting certain conditions.
- When the post-licensure educational requirement is not met and a license holder must turn in their credentials. They have a year to satisfy any missing requirements to reinstate their license
- When a license holder is not active for a certain amount of time and is on the path to being put in an inactive status.
- None of the above
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Question 8 of 21

8. Question
When is an inactive status offered?
- This is for license holders who would like to temporarily discontinue actively pursuing real estate
- This is not offered, it is assigned due to certain stipulations
- This is for license holders who would like to move towards exiting the real estate industry
- This is only for the use of the Commission
- None of the above
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Question 9 of 21

9. Question
What is a pocket card?
- A certificate that verifies an individual as a licensed real estate agent and must be held by that person’s broker.
- A form of identification that someone is licensed in real estate and is kept by the corresponding agent.
- A form of identification that someone is licensed in real estate and is used for the purposes of filing with the Commission.
- Certification verifying an individual as a broker.
- None of the above
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Question 10 of 21

10. Question
When must the criminal history report be submitted?
- 50 days of the initial application
- 60 days of the initial application
- 50 days before the application
- 60 days before the application
- None of the above
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Question 11 of 21

11. Question
Can a broker reject a license holder from transferring to a new broker?
- Yes, this can happen in the instance of a violation of the initial terms set
- The broker has no power in the transfer of a license holder
- The broker may not refuse a transfer, but they may file a complaint with the Commission if any violation occurred
- The broker can reject a license holder from transferring a new broker if they don't like the individual.
- None of the above
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Question 12 of 21

12. Question
What is the time span for a license holder to either find a new broker or go inactive during the process of transferring their license?
- 60 days
- 50 days
- 2 months
- 1 month
- None of the above
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Question 13 of 21

13. Question
What is the price of renewal fees currently?
- $75.00
- $200.00
- $250.00
- $125.00
- None of the above
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Question 14 of 21

14. Question
What occurs if a check that you are using for payment of a fee bounces back?
- A fee of $100.00 will be applied
- Your application will be terminated
- The charge will still exist on your account
- A fee of 50.00 will be applied
- None of the above
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Question 15 of 21

15. Question
What is considered passing for the real estate exam?
- 60% or higher
- 50% or higher
- 70% or higher
- 75% or higher
- None of the above
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Question 16 of 21

16. Question
Which of the following must Georgia brokers NOT follow while watching over nonresident brokers?
- Have a review of advertisements
- Trust fund payments are made
- Provide a policies and procedures manual
- Provide permanent residency in Georgia
- None of the above
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Question 17 of 21

17. Question
In the case of the nonresident broker working as a referral agent, what may the Georgia broker do?
- Divvy up a commission
- Participate in a referral fee to the nonresident broker
- Both A and B
- Neither A nor B
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Question 18 of 21

18. Question
Which one of the options below must happen for someone to qualify in the innkeeper
- There is a written agreement with the owner
- The tenant has lived there for over 15 years
- There are no liens on the property
- The rooms/units are primary residencies for the guests
- None of the above
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Question 19 of 21

19. Question
What was the purpose of the Georgia Real Estate law passed in 1925 ?
- To protect the public from untrained and incompetent individuals
- To protect agents from unfair competition
- To make it more difficult to be a real estate agent
- Both A and B
- All of the above
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Question 20 of 21

20. Question
What is the true purpose of the Georgia Real Estate Commission ?
- To prohibit any real estate license holder from treading upon improper acts against the public whether it be intentional or unintentional
- To oversee the real estate industry in a fair manner that allows license holders to achieve economic success
- Both A and B
- To help the real estate industry maintain a good reputation
- None of the Above
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Question 21 of 21

21. Question
Which of the following is NOT one of the five targeted responsibilities of the Georgia Real Estate Commission?
- Spirit of Cooperation
- Due Process
- Communication
- Fair Practice
- Staff Operations
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