Unit 22 Quiz Attempt #4

Unit 22 Quiz Attempt #4

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Question 1 of 30

1. Question
If the governor appoints 5 real estate members to the GREC, he must appoint a final member who is working in what field?
- Consumer Affairs
- Marketing
- Politics
- Real Estate
Correct

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Question 2 of 30

2. Question
Passing the Real Estate Exam means that you scored at least a _ on the exam?
- 90%
- 80%
- 75%
- 70%
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Question 3 of 30

3. Question
When a license is permanently taken away it is called _?
- Termination
- Suspension
- Denial
- Revocation
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Question 4 of 30

4. Question
This is the term used to describe the temporary loss of a real estate license?
- Termination
- Denial
- Revocation
- Suspension
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Question 5 of 30

5. Question
It is important to know the broker you study underneath because you will be working with them for how long?
- 3 months
- 3 years
- 9 months
- 6 months
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Question 6 of 30

6. Question
The 25 hour course to be taken after receiving a real estate license is called
- Succeeding as a Real Estate Agent
- Getting to know your Realtor
- Post-Licensing Course
- Licensing and Laws
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Question 7 of 30

7. Question
Sanctions are given mostly for
- Inappropriate conduct
- Completing a certain amount of sales
- Not conducting real estate
- License law violations
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Question 8 of 30

8. Question
Rather than be an employee, Realtors and real estate agents work as independent contractors for what reason
- Licensing
- Taxation
- Salary disputes
- To feel independent
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Question 9 of 30

9. Question
Which of the following is not something to consider when picking a broker
- What the brokers training is like.
- How much the broker makes
- What the broker compensation package is like.
- How many licensees does the broker supervise
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Question 10 of 30

10. Question
For one to receive a license one must have?
- 65 hour licensing course
- 75 hour licensing course and exam completed and passed
- Half fees paid
- Criminal background completed but not passed.
Correct

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Question 11 of 30

11. Question
Without the passage of ___, one can’t practice real estate in Georgia?
- State Licensing Exam
- Real Estate Association Exam
- National Realtors Exam
- Real Estate Association Exam and National Realtors Exam
Correct

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Question 12 of 30

12. Question
Which of the following may not result from violating license laws?
- One can renew their license
- License renovation
- Fines
- License denial
Correct

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Question 13 of 30

13. Question
Camilla has completed all pre-licensing requirements, and has sent in an application to GREC. Camilla was convicted of petty larceny last year. Will the Commission still grant Lana a license?
- Yes, there is no proof presented to the commission.
- No, no pending charges
- None of the above
- All of the above
Correct

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Question 14 of 30

14. Question
Who most likely owns a limited liability company?
- Xander was appointed CEO by a board of directors
- Casey and Matthew got together to invest in real estate
- Liam, Wendy, and Mischa start a company that allows multiple owners, receives favorable income tax treatment, and has low administrative requirements
- Thomas starts a nonprofit organization whose primary objectives are philanthropy and social well-being.
Correct

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Question 15 of 30

15. Question
Which of the following is a characteristic of a limited liability company?
- a flexible management structure without the complicated requirements of a corporation
- limited to the number of owners in the company
- unlimited liability for its owners
- double taxation of income since it is taxed like a corporation
Correct

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Question 16 of 30

16. Question
Which are the following are NOT required to be covered in Georgia’s continuing education courses?
- license law
- contracts
- agency
- all of the following
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Question 17 of 30

17. Question
In order to obtain a real estate license, Georgia law says you must be working at least _____ hours per week.
- 40
- 60
- 80
- There is no regulation of licensee hours by Georgia state law
Correct

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Question 18 of 30

18. Question
A licensee who has been inactive for 20 years wants to sell their personal home, which of the following is true regarding their house advertisement?
- the licensee does not have to state they have a license in their ad.
- It is optional for the licensee to post that they have a license in their ad
- The licensee must indicate they have a license in their ad.
- it is illegal to post they have a real estate license in their ad
Correct

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Question 19 of 30

19. Question
Which of the following is true regarding the person who witnesses the signing of a will?
- You must be 18 years or older
- you have to be a beneficiary on the will
- you cannot be a beneficiary on the will
- you must be related to the will holder
Correct

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Question 20 of 30

20. Question
When trying to obtain a real estate license, you must:
- obtain signature from a broker with whom they will affiliate on the application
- pay a $50 license fee
- Obtain signature from a representative on the commissions board
- show proof of 200 successfully completed hours in real estate training
Correct

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Question 21 of 30

21. Question
Which of the following requires a real estate license in GA
- A licensed attorney under the power of attorney to convey real estate
- if offering management services to subdivisions
- an employee of the government that manages a subsidized house project
- Selling a business owned by business partners
Correct

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Question 22 of 30

22. Question
How long does a real estate office in Georgia have to keep their transaction records for?
- 3 years
- until transaction is complete
- 10 years
- 1 year after transaction
Correct

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Question 23 of 30

23. Question
What do you NOT need to get money from The GA Education, Research, and Recovery Fund
- an appeal with the state supreme court
- approval from a senator
- approval from the mayor
- none of the following
Correct

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Question 24 of 30

24. Question
If you want to manage a community association for a broker you need a
- management license.
- CAM license.
- condominium license.
- subdivision license.
Correct

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Question 25 of 30

25. Question
What does the phrase “vested in an individual” mean?
- the property is under the individual's name
- The property is not under your name
- If someone is 100% vested, they cannot withdraw all the funds in a retirement fund.
- All of the above
Correct

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Question 26 of 30

26. Question
Which of the following is NOT a requirement for a broker who is buying a property they are listed as the salesperson for?
- Sign as the listing broker's agent and make an offer after becoming affiliated with another broker.
- purchase the property through a third party on the salesperson's behalf.
- obtain permission from the Georgia Real Estate Commission.
- All of the following
Correct

Incorrect
Question 27 of 30

27. Question
What are the requirements for a school offering a salesperson post-license course in Georgia?
- It must be an accredited college or University
- It must be an accredited public agency
- It must be an accredited nonprofit organization
- None of the above, but it must have a license from the Georgia Real Estate Commission
Correct

Incorrect
Question 28 of 30

28. Question
What portion of which proceeding time period is an applicant required to prove they have been actively licensed to receive a Broker’s license?
- Five of Ten
- All of Five
- Three of Five
- All of Three
Correct

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Question 29 of 30

29. Question
Members of the Georgia Real Estate Commission are placed by
- The governor
- The supreme court
- the electors
- none of the following
Correct

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Question 30 of 30

30. Question
For one to receive a license one must have?
- Half fees paid
- Criminal background completed but not passed.
- 65 hour licensing course
- 75 hour licensing course and exam completed and passed
Correct

Incorrect

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