METRO BROKER FINAL ACTUAL
PAPER 2026 QUESTIONS WITH
SOLUTIONS GRADED A+
◉ Who is the rightful owner if a deed is not recorded? Answer: Buyer
with constructive notice, no subsequent recordations. (P 4-18)
◉ How is an appraisal charged? Answer: Fee can't be based on value
estimate. (P 12-2)
◉ What are trade fixtures and when can they be removed? Answer:
Personal property attached by lessee for business, can be removed
before lease end without waste. (P 1-6)
◉ What is the definition of a trade fixture? Answer: An item of
personal property attached to land or building for business. (P 1-6)
◉ What is the definition of constructive notice? Answer: Notice
given by visible possession or use of property. (P 4-18)
◉ What is the definition of waste? Answer: Damage to property by
tenant beyond normal wear and tear. (P 1-6)
,◉ What is the definition of an appraisal? Answer: An estimate of
property value by a licensed appraiser. (P 12-2)
◉ What is the Replacement cost approach? Answer: Cost of
replacing buildings at today's prices
◉ What is Insurance proration? Answer: Advance payment credited
to seller until next premium
◉ What are the Requirements for a salesperson & broker's license?
Answer: Age, residency, education, experience, character, exam
◉ What are the Three Types of Agents? Answer: Universal, General,
Special/Limited
◉ What are the Three types of Agency Relationships? Answer:
Actual, Ostensible, Implied
◉ What is BRRETA? Answer: Georgia law governing brokerage
relationships
◉ When should earnest money be turned in? Answer: As soon as
practically possible to the broker
,◉ What is an attachment lien? Answer: Encumbrance against land
during a lawsuit
◉ What makes a valid deed from the grantee's side? Answer: In
writing, competent grantor/grantee, valid legal description, granting
clause, signature, delivered/accepted
◉ What is IRV? Answer: Net operating income for Income Approach
to value
◉ What is the principle of anticipation? Answer: Property value
based on future income/benefits
◉ What does IRV not include? Answer: Land value
◉ What is the purpose of BRRETA? Answer: To prevent detrimental
misunderstandings in brokerage relationships
◉ What does BRRETA govern? Answer: Relationships between
licensees and clients/customers outside of contractual relationships
◉ What does BRRETA cover? Answer: Brokerage, brokerage
relationships, engagements, material facts, ministerial acts
, ◉ What are material facts? Answer: Facts a party does not know,
would want to know, and could not reasonably discover within a one
mile radius
◉ What are ministerial acts? Answer: Acts that do not require a
licensee's professional skill or judgment
◉ What is the termination date for an agency contract without a
specific date? Answer: One year
◉ Who should earnest money be made out to? Answer: The broker,
not the agent
◉ What is required for a valid deed from the grantee's side? Answer:
In writing, competent grantor/grantee, valid legal description,
granting clause, signature, delivered/accepted during grantor's
lifetime
◉ What is the basis of the Income Approach to value? Answer:
Principle of anticipation
◉ What is included in a valid deed from the grantee's side? Answer:
Competent grantor/grantee, valid legal description, granting clause,
signature, delivered/accepted during grantor's lifetime
PAPER 2026 QUESTIONS WITH
SOLUTIONS GRADED A+
◉ Who is the rightful owner if a deed is not recorded? Answer: Buyer
with constructive notice, no subsequent recordations. (P 4-18)
◉ How is an appraisal charged? Answer: Fee can't be based on value
estimate. (P 12-2)
◉ What are trade fixtures and when can they be removed? Answer:
Personal property attached by lessee for business, can be removed
before lease end without waste. (P 1-6)
◉ What is the definition of a trade fixture? Answer: An item of
personal property attached to land or building for business. (P 1-6)
◉ What is the definition of constructive notice? Answer: Notice
given by visible possession or use of property. (P 4-18)
◉ What is the definition of waste? Answer: Damage to property by
tenant beyond normal wear and tear. (P 1-6)
,◉ What is the definition of an appraisal? Answer: An estimate of
property value by a licensed appraiser. (P 12-2)
◉ What is the Replacement cost approach? Answer: Cost of
replacing buildings at today's prices
◉ What is Insurance proration? Answer: Advance payment credited
to seller until next premium
◉ What are the Requirements for a salesperson & broker's license?
Answer: Age, residency, education, experience, character, exam
◉ What are the Three Types of Agents? Answer: Universal, General,
Special/Limited
◉ What are the Three types of Agency Relationships? Answer:
Actual, Ostensible, Implied
◉ What is BRRETA? Answer: Georgia law governing brokerage
relationships
◉ When should earnest money be turned in? Answer: As soon as
practically possible to the broker
,◉ What is an attachment lien? Answer: Encumbrance against land
during a lawsuit
◉ What makes a valid deed from the grantee's side? Answer: In
writing, competent grantor/grantee, valid legal description, granting
clause, signature, delivered/accepted
◉ What is IRV? Answer: Net operating income for Income Approach
to value
◉ What is the principle of anticipation? Answer: Property value
based on future income/benefits
◉ What does IRV not include? Answer: Land value
◉ What is the purpose of BRRETA? Answer: To prevent detrimental
misunderstandings in brokerage relationships
◉ What does BRRETA govern? Answer: Relationships between
licensees and clients/customers outside of contractual relationships
◉ What does BRRETA cover? Answer: Brokerage, brokerage
relationships, engagements, material facts, ministerial acts
, ◉ What are material facts? Answer: Facts a party does not know,
would want to know, and could not reasonably discover within a one
mile radius
◉ What are ministerial acts? Answer: Acts that do not require a
licensee's professional skill or judgment
◉ What is the termination date for an agency contract without a
specific date? Answer: One year
◉ Who should earnest money be made out to? Answer: The broker,
not the agent
◉ What is required for a valid deed from the grantee's side? Answer:
In writing, competent grantor/grantee, valid legal description,
granting clause, signature, delivered/accepted during grantor's
lifetime
◉ What is the basis of the Income Approach to value? Answer:
Principle of anticipation
◉ What is included in a valid deed from the grantee's side? Answer:
Competent grantor/grantee, valid legal description, granting clause,
signature, delivered/accepted during grantor's lifetime
