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|In Georgia, what is the minimum age for an individual to enter in a legal contract for the sale of real estate?|
|Which of the following is the BEST source of information for determining the cost factor in the replacement cost method?|
|In Georgia, when could earnest money funds NOT normally be disbursed by a broker?|
|A salesperson just attended a class on using social media to further her real estate sales career. She was so excited about the class she immediately came home and signed up for Facebook, Twitter and Linkedin. She has chosen a listing to market via social networking, a residence recently built to resemble an antebellum mansion. Which of the following words or phrases may she lawfully include in her advertising?|
|Which of the following is an example of a disclosure required by the federal government?|
|A potential buyer made an offer to buy a property and included, as earnest money, an antique clock accompanied by a legitmate appraisal of $2,000. The salesperson delivers the clock to the broker right away. The broker is satisfied that the clock is worth the appraised amount so the salesperson does not tell the sellers about the form of earnest money. Has the salesperson violated Georgia law?|
|Two days after closing, the seller gives a $500 bonus check to the selling agent. The agent should|
|In terms of Real Estate, what is a broker?|
|A private integrated club refused to rent one of its condos to a minority family. The club explained that it did not rent the condos to the public since the condos were for members only. Is the club in violation of the Federal Fair Housing Act, and if so, how?|
|Which party decides the final listing price for a property?|
|When should a Georgia broker who manages a community association be covered by a fidelity bond or fidelity insurance?|
|A promise that the grantee will not suffer interference from others having superior claim to the title is defined as?|
|What is the legal but unethical exaggeration of a property’s benefits?|
|A buyer sued a licensee for fraud in a real estate transaction and received judgment in the amount of $15,000. The licensee owns, free and clear, a cabin in Georgia valued at $10,000. For the buyer to file a claim against the Real Estate Education, Research and Recovery Fund he must|
|Which of the following would not be taken into account when estimating sellers’ closing costs|
|When serving solely as a buyer’s agent, it is unlawful for the real estate licensee to disclose any confidential information about the _______.|
|A real estate licensee acting soley as a seller’s agent, it is unlawful for the real estate licensee to disclose any information about the _________.|
|In a mortgage/trust deed form of loan, the terms of payment and interest rate would be found on the|
|What conditions must be met to terminate a contract?|
|What was the name of the law passed by congress requiring sellers to disclose information about the use of lead based paint in properties built in 1978?|
|During the sale of a property that was built during or before the year 1978, the seller must draft and attach a copy of these documents to the contract to show that they informed the buyer/tenant about the properties history with Lead based paint.|
|What type of lease agreement features a natural break even point?|
|The Georgia Real Estate commission was established nearly a century ago. What has been their purpose?|
|A Real Estate Counselor|
|Which one of the following is NOT one of the six moral and ethical responsibilities that an agent owes the pricipal in fiduciary relationships under common and statutory law stem?|
|Who can settle the asking price for a seller’s brokerage engagement?|
|Market price is|
|A property owner in a condominium poses a question about the bylaws of the association that involves a legal issue. The community association manager happens to be familiar with this issue. To handle this situation correctly in Georgia, the community association manager should|
|If a salesperson’s sponsoring broker mentioned in the written affiliation agreement that the salesperson could sign a listing as the agent, can the salesperson legally do so in Georgia?|
|One of the main purposes of the FHA is to|
|What type of loan would be the BEST option for senior homeowners, who have paid off their loan and would like to receive monthly income?|
___ any business entity, including, but not limited to, a corporation, partnership, limited liability company, or a sole proprietorship.
Which of these professions are able to buy, sell or lease real property on behalf of others for a commission?
Mary is interested in buying land to build on for her hair business. What will we say Mary is?
To be legitimate, a claim to any real property must be accompanied by a blank.
“Regardless of any man-made or natural changes, land remains basically the same.” best describes which physical characteristic?
Fill in the blank: Operations, such as blank, will have an influence on the surrounding properties in the neighborhood.
Which of these is a major determining factor in whether a loan applicant will receive a home loan?
How often can a consumer receive a free credit report?
What does FICO stand for?
When is designated agency most likely to occur?
What will terminate an agency?
The duty of __________ is the real estate agent’s responsibility to keep the principal informed of all the facts that might affect a transaction.
Which statement defines a deceptive ad?
What did the Federal Trade Commission Act want to encourage?
How can you avoid a privacy or security breach?
Special stipulation document would include which of the following?
Under the statute of Fraud, GA law does not require that any contract or interest be in writing and signed by the person against whom the contract is enforced or by the party representing that person
The statute of fraud, written agreement must include which of the following.
Which is a general lien
A lienee is a(n) ___
The _____ is protected under a vendor’s lien.
In a situation where legal title to a property is held and is entrusted, carrying out the trustor’s instructions regarding the purpose of the trust, what is the term/ title of this position?
Which are types of property ownership
The “bundle of rights” refers to a set of rights
The submission of ___ document is needed for the development of multiple properties in an area to be approved.
The legal description of a property is one which
The metes and bounds system essential elements are
An installment sale is
Which of the following are tax assessor’s requirements?
Which of the following is not a tax incurred
when transferring real estate?
Which of the following situations is the contract enforceable?
Which of the following would most likely NOT be a valuable consideration?
Larry listed his home for sale with a real estate broker for a period of 120 days. No buyer was found within this period. On the 212st day the listing would be terminated by: I. rescission ;II. expiration of time; III. mutual agreement; IV. destruction
If an owner of real property dies intestate and has no legal heirs, what will happen to the property
The purpose of a deed restriction is to enable an owner to specify
A property owner who is selling her land wants to control how it is used in the future. She might accomplish her aim by means of
A chronological summary of the properties title records and other public records affecting interests in the property is known as
What is defined as the covenant of a title?
Define covenant of quiet enjoyment
James wants to know how much a house costs and if he can afford one. He has a gross income of $5,350. If the required down payment can be made, what is James’s allowable housing expense?
What are the two parts to a loan?
Prepayment penalty is defined as
How does Early Loan payoff work? Select the option that applies
The practice of redlining is specifically prohibited by
Cecily Longstreet believes a real estate agent has kept her from seeing a certain property for rent because she is woman. What actions should she take if she wants legal satisfaction for her complaint?
Select one of the following for the required continuing educational amount for a community association manager?
Select one of the following offers Community Association Manager certificate exam in Georgia?
Select which of the following is an eligibility requirement for a community association manager in Georgia?
Real estate is considered illiquid because
“Base employment” in real estate demands means
Master planning zoning is described as
_____is required before a building permit can be issued.
Different types of zones are created by zoning authorities
Redlining has which of the following negative results?
A ____ is the resolution of a fair housing complaint by obtaining assurance that the respondent will remedy the violation.
If a seller requests that an agent not show their house to anyone born outside the US, the agent:
Asbestos is a _______ material.
What is not affected by leaking landfills, spills, and improper water disposal?
_______ it required a 90% reduction
in pollution emission and expected
manufactures to comply within 5 years.
Which type of property manager is most likely to work for real estate developers and investors?
Which person in the following scenarios holds a real estate license?
If the governor appoints 5 real estate members to the GREC, he must appoint a final member who is working in what field?
Passing the Georgia Real Estate Exam (proctured by PSI ) means that you scored at least a _ on the exam?
When a license is permanently taken away it is called _?
A certain item is to be prorated between a buyer and seller. If no outside party is concerned, which of the following statements is true?
What’s 32% in a decimal.
Change 0.7564 to a percent
32% of $62,000 = what?