Professions and Terminology Quiz Attempt #2

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Question 1 of 14

1. Question
What does a recorder do?
- keeps record of a public official who keeps track of all closing details
- records private closing deals
- records public closing deals
- keeps record of all estate closings
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Question 2 of 14

2. Question
One who establishes the value of a property for taxation purposes is not called a
- agent
- broker
- appraiser
- none of the above
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Question 3 of 14

3. Question
Which of the following is a person interested in real property?
- The mortgagor
- The buyer
- The grantor
- The grantee
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Question 4 of 14

4. Question
A public official who establishes the value of a property for taxation purpose is called
- broker
- agent
- surveyor
- none of the above
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Question 5 of 14

5. Question
A Georgia real estate agent may legally collect compensation from
- their employing broker only
- a licensed real estate broker only
- either a buyer or a seller
- any party to the transaction or the party's representative
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Question 6 of 14

6. Question
What are real estate related financial transactions?
- permanent dweling places for individuals and/or families that includes apartments, condominiums, and co-ops but not motels or hotels.
- The provision, for a valuable consideration, to another of marketing, including referrign prospective tenants: leasing: physical, administrative, or finanical maintenance; and overall management of real property; or supervision of the foregoing activites for another pursuant to a property management agreement.
- Any transaction involving: The sale, lease, purchase, or exchange of or investment in real estate or real property or the financing thereof; The refinancing of real estate or real property; the use of real estate or real property as security for a loan or investment.
- Those acts related to real estate brokerage activities, which a licensee or a licensee's employee perform abd which do not require discretion or the exercise of licensee's own judgemnt.
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Question 7 of 14

7. Question
What is a business entity, including, but not limited to, a corporation, partnership, limited liability company, or a sole proprietorship.
- Real estate
- Agency
- Firm
- All of the above
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Question 8 of 14

8. Question
If an appraiser is the one who values the property, who finances so that Realtors can buy the properties?
- Broker
- Lender
- Developer
- Tenants
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Question 9 of 14

9. Question
A licensee is any person who is licensed as a
- Broker
- Associate broker
- Salesperson
- All of the above
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Question 10 of 14

10. Question
A developer:
- Constructs improvements on the land and usually brings in investors and lenders to fund the deal.
- Specializes in real estate, and can legally broker deals.
- Finance real estate transactions with loans that include interest rates which are determined by the perceived level of risk associated with the property
- Licensed to buy, sell, or lease real property on behalf of others in exchange for a commission.
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Question 11 of 14

11. Question
A real estate attorney
- Holds a law degree
- Can legally broker deals
- specializes in real estate
- All of the above
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Question 12 of 14

12. Question
What is a person who acquires or attempts to acquire or succeed to an interest in land?
- Broker
- Purchaser
- Ministerial Acts
- Tenant
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Question 13 of 14

13. Question
Which of the following would NOT be considered a principal in a real estate transaction?
- the buyer
- The Real Estate Licensee
- the seller
- the broker
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Question 14 of 14

14. Question
Which of these professions are able to buy, sell or lease real property on behalf of others for a commission?
- Salesperson
- Developer
- Broker
- Appraiser
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Professions and Terminology Quiz Attempt #2

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