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|What is the minimum age for someone to legally enter in a contract for the sale of real estate in Georgia?|
|Which of the following is the BEST source of information for determining the cost factor in the replacement cost method?|
|Can a seller give a licensee a bonus check?|
|What is a Broker in terms of Real Estate?|
|Who ultimately decides the listing price in a brokerage engagement?|
|A Georgia broker who manages a community association must be covered by a fidelity bond or insurance policy|
|What is a promise that the grantee will not suffer intergerence from others having a superior claim to the tilte?|
|George is showing a property to first time home buyers. The home is overpriced for the location it’s in. He wants the property to seem more desirable so he invites a few friends to come by during the showing to give off the illusion that the home is in high demand. What behavior is George engaging in?|
|Describe which of the following typically would NOT be considered when estimating sellers’ costs|
|According to common-law fiduciary principles, a real estate licensee acting solely as a buyer’s agent will not disclose any confidential information recieved from the|
|Under what circumstances may a contract be terminated?|
|There was a law that passed requiring sellers to disclose information about the use of lead based paint in properties in 1978, what was it called?|
|A natural break even point is featured in what type of lease agreement?|
|The GREC was created with the purpose of|
|A ___________ is a person that provides a service to those who are interested in purchasing real estate and often influences their decisions by helping them determine the most viable option for a project or asset|
|Which of the following is NOT one of the targeted responsibilities of the Georgia’s Real Estate Commission?|
|What financing alternative can a borrower utilize if they want a temporary loan that provides funds in addition to an existing loan until permanent financing can be obtained?|
|In Georgia, who should ultimately determine the asking price in a seller’s brokerage engagement agreement?|
|Which of the following is a market price?|
|Can a salesperson sign a listing as the agent if given permission in the affiliation agreement?|
|One of the main goals of the FHA is to|
|An elderly homeowner paid off their mortgage and would like to convert the equity in their home to receive monthly payments. What would be their best option?|
|A licensee takes a listing of a family friend even though the property is 2 hours away. If the licenseee does not show the property, what has the agent violated?|
|A ______ contract is what would be called when a minor and adult have entered into a written contract for the sale of a property.|
|On a closing statement, earnest money will generally appear as which one of the following:|
|What makes a bilateral contract different from a unilateral contract?|
|Which of the following would be a violation of license law by a broker?|
|What does it mean to have a low loan-to-value ratio?|
|________ is a type of loan that is calculated based off of public index that fluctuates based on market conditions.|
|How long may Georgia licensees keep their license on inactive status?|
|The best way of eliminating a title defect on a property is|
|How long is a broker in Georgia required to retain copies of sales contracts?|
|Of the following, which must be included in a legal description of real estate in Georgia?|
|How long after the expiration of the listing must a Georgia licensee remove an advertisement from the internet?|
|The practice of persuading owners to sell property cheaply because of the fear of people of another race or class moving into the neighborhood is called|
|How are memembers of the Georgia Real Estate Commission selected?|
|Which one of the following advertisements is not prohibited under the Fair Housing Act?|
|At closing, who can pay the intangible taxes in Georgia?|
|Which deed gives the buyer the best assurance that the seller has good title to the property?|
|When Stacy’s brother passed away 6 years ago, she had him cremated and planted a tree on his property from his remains. The tree is an example of:|
|Once a Georgia salesperson’s license is issued, how long does the salesperson have in order to complete the 25 hour course and examination?|
|Is it a violation to pay a referral fee to a licensed agent who is currently on inactive status?|
|Two relatives own a parcel of property. Under some circumstances, one passes and the other relative automatically becomes the sole owner. The type of tenancy these relatives hold is|
|If a seller makes a counteroffer to a buyer, and she obtains a second offer from another buyer that is for a higher price, what can she do to accept the second offer?|
|What homes qualify for a VA loan?|
|What loan would yield the lowest loan value ratio?|
|32% to a decimal.|
|What is 1 square foot?|
|Equation for total commission?|
|Your seller wants to net $65,000 after the 6% commission is paid, but before other closing costs are factored in. What price does the home need to sell for the seller to net this amount?|
|You have a property listed at $130,000. The commission rate listed in the listing agreement is 6%, which you will split evenly with the buyer’s representative. What’s your share.|
If you attempt to acquire or succeed to an interest in land what are you?
Those acts related to real estate brokerage activities, which a licensee or a licensee’s employee perform and which do not require discretion or the exercise of the licensee’s own judgment:
Which term matches the definition: ________ is the period of time that the ROI (Return on Investment) will be realized over
“Regardless of any man-made or natural changes, land remains basically the same.” best describes which physical characteristic?
Identify loan program available for clients.
Which of these is a major determining factor in whether a loan applicant will receive a home loan?
When posting online, you should never what?
Who pays a salesperson when a transaction involved a listing agent, a selling agent, and several subagents
Which of the following is not one of the kinds of laws that dictate agency relationships and the duties an agent owes to their client
Statutory laws are
Under the statute of Fraud, GA law does not requires 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) ___
Ownership of benefits within a trust us received by
Erica and Jasmine’s parents pass away leaving them with the family home. Each holds an undivided interest in the entire property and there’s no right of survivorship. If one of them dies, that sister’s share will go to whoever she’s stipulated in her will. What type of ownership does this situation describe?
All are examples of non- ad valorem
A homestead exemption is
How does Planned Unit Development zoning vary from ordinary zoning?
Which of the following situations is most likely to represent an illegal nonconforming use?
An extended coverage protects
A cloud on title can be defined as
A seller must show that the title is free of what to show marketable title
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
Through FHA, a buyer can deposit a 12.0% down payment.
True or False? On a Reverse Annuity Mortgage, the homeowner’s equity diminishes as the loan amount increases?
Under the Federal Housing Administration (FHA) – insured, what percentage is needed for a down payment and what is the minimum credit score required?
The borrower makes only interest payments in a loan known as
Usually, one can assume that if the price of an item is increasing then
Which of the following is true when a market is in equilibrium
_______ leasehold estate lacks a specific term.
For a mortgage that does not contain power of sale clause the lien holder will have to
Which of the following laws extended housing discrimination protections to families with children and persons with disabilities?
Which of the following is an established set of rules and regulations, that further interpret the practices affected by law?
The resolution of a fair housing complaint by obtaining assurance that the respondent will remedy the violation is called
A seller tells an agent not to show their house to anyone not born in the United States. The professional
Which of the following is included in the management agreement?
The main responsibility of a property manager is to
The buyer/ tenant is given ___ days to conduct
a lead assessment?
All the following documents must be attached
to a contract or lease except
Some activities that may not require a real estate license include?
Ricardo has completed all pre-licensing requirements, and has sent in an application to GREC. Ricardo was convicted of petty larceny 20 years ago. Will the Commission still grant Lana a license?
change 32% to a decimal.
Convert 0.7564 to a fraction.
What type of contract is it when a minor and adult have entered into a written contract for the sale of a property?
How does earnest money appear on a closing statement?
What makes a bilateral contract different from a unilateral contract?
A seller is requiring that the buyer use a particular title insurance company and the buyer is paying for the title insurance. This is ______