Barney Fletcher Review Chap 1-5: Questions With
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Terms in this set (78)
Which of the following are appointed a. Members of the Georgia Real Estate Commission.
by the governor?
a. Members of the Georgia Real Estate
Commission.
b. The Real Estate Commissioner.
c. Real estate instructors.
d. Georgia Real Estate Commission
employees.
Bill knows that his neighbor Carol d. Yes, Bill can receive a referral fee from Carol.
wants to sell her house. Bill's friend
Sam tells Bill that he would like to buy
a house in Bill's neighborhood. Bill
introduces Sam and Carol. Sam ends
up buying Carol's house. Bill is not
licensed. Can Bill receive a referral fee
for this?
a. No, only licensed individuals can
receive referral fees.
b. Yes, Bill can receive a referral fee
from Carol's broker.
c. Yes, Bill can receive a referral fee
from Sam.
d. Yes, Bill can receive a referral fee
from Carol.
,All employees of the commission must b. False.
be unlicensed or inactive, but all
commission members must be active
real estate licensees.
a. True.
b. False.
The Georgia Real Estate Commission c. Act to resolve a commission dispute between two
can take each of the following actions, licensees.
EXCEPT:
a. Grant a real estate license to a
person whose license had been
revoked 10 years earlier.
b. As a disciplinary action, revoke a
person's brokers license and
simultaneously issue that person a
salespersons license.
c. Act to resolve a commission dispute
between two licensees.
d. Issue a reprimand or censure to a
licensee without a formal hearing.
Two brokers have a dispute about a
commission split. Which of the
following could become involved in
settling their dispute?
,Which of the following individuals d. All of these individuals.
must have a real estate license to
conduct business in Georgia?
a. An individual who locates tenants
for the owner of a residential
apartment complex.
b. A referral agent who locates listings
for real estate licensees.
c. A person who sells real estate
through auctions.
d. All of these individuals.
If a court finds an individual guilty of b. 1 year.
illegally operating without a real
estate license, the individual could be
sentenced to jail time of up to:
a. Six months.
b. 1 year.
c. 3 years.
d. 5 years.
Which of the following statements is d. 5 of 6 members must be licensed.
correct regarding the members of the
Real Estate Commission:
a. 1 of 5 members must be licensed.
b. 2 of 6 members must be licensed.
c. 4 of 5 members must be licensed.
d. 5 of 6 members must be licensed.
, Sara lives in Atlanta and has a sister d. This is illegal if Sara is unlicensed.
who lives in South Carolina. The sister
wants to swap her house in South
Carolina for a house close to Sara.
Sara knows her next door neighbor
wants to get out of Atlanta and puts
the neighbor in touch with her sister.
The two agree to swap houses if Sara
will handle the paperwork. The two
agree to pay Sara for her time.
a. This is legal because Sara is doing a
favor for an immediate family member.
b. This is legal because it was a swap
and no money was involved in the
transaction.
c. This is illegal because Sara's sister is
out-of-state.
d. This is illegal if Sara is unlicensed.
ABC Corporation owns 10 apartment c. Employees of the corporation do not need to be
buildings. licensed
a. ABC employees who manage the
buildings must be licensed.
b. The officers of the corporation must
be licensed.
c. Employees of the corporation do
not need to be licensed.
d. Only employees who buy and sell
buildings need to be licensed.
Step By Step Solutions
Save Groups
Terms in this set (78)
Which of the following are appointed a. Members of the Georgia Real Estate Commission.
by the governor?
a. Members of the Georgia Real Estate
Commission.
b. The Real Estate Commissioner.
c. Real estate instructors.
d. Georgia Real Estate Commission
employees.
Bill knows that his neighbor Carol d. Yes, Bill can receive a referral fee from Carol.
wants to sell her house. Bill's friend
Sam tells Bill that he would like to buy
a house in Bill's neighborhood. Bill
introduces Sam and Carol. Sam ends
up buying Carol's house. Bill is not
licensed. Can Bill receive a referral fee
for this?
a. No, only licensed individuals can
receive referral fees.
b. Yes, Bill can receive a referral fee
from Carol's broker.
c. Yes, Bill can receive a referral fee
from Sam.
d. Yes, Bill can receive a referral fee
from Carol.
,All employees of the commission must b. False.
be unlicensed or inactive, but all
commission members must be active
real estate licensees.
a. True.
b. False.
The Georgia Real Estate Commission c. Act to resolve a commission dispute between two
can take each of the following actions, licensees.
EXCEPT:
a. Grant a real estate license to a
person whose license had been
revoked 10 years earlier.
b. As a disciplinary action, revoke a
person's brokers license and
simultaneously issue that person a
salespersons license.
c. Act to resolve a commission dispute
between two licensees.
d. Issue a reprimand or censure to a
licensee without a formal hearing.
Two brokers have a dispute about a
commission split. Which of the
following could become involved in
settling their dispute?
,Which of the following individuals d. All of these individuals.
must have a real estate license to
conduct business in Georgia?
a. An individual who locates tenants
for the owner of a residential
apartment complex.
b. A referral agent who locates listings
for real estate licensees.
c. A person who sells real estate
through auctions.
d. All of these individuals.
If a court finds an individual guilty of b. 1 year.
illegally operating without a real
estate license, the individual could be
sentenced to jail time of up to:
a. Six months.
b. 1 year.
c. 3 years.
d. 5 years.
Which of the following statements is d. 5 of 6 members must be licensed.
correct regarding the members of the
Real Estate Commission:
a. 1 of 5 members must be licensed.
b. 2 of 6 members must be licensed.
c. 4 of 5 members must be licensed.
d. 5 of 6 members must be licensed.
, Sara lives in Atlanta and has a sister d. This is illegal if Sara is unlicensed.
who lives in South Carolina. The sister
wants to swap her house in South
Carolina for a house close to Sara.
Sara knows her next door neighbor
wants to get out of Atlanta and puts
the neighbor in touch with her sister.
The two agree to swap houses if Sara
will handle the paperwork. The two
agree to pay Sara for her time.
a. This is legal because Sara is doing a
favor for an immediate family member.
b. This is legal because it was a swap
and no money was involved in the
transaction.
c. This is illegal because Sara's sister is
out-of-state.
d. This is illegal if Sara is unlicensed.
ABC Corporation owns 10 apartment c. Employees of the corporation do not need to be
buildings. licensed
a. ABC employees who manage the
buildings must be licensed.
b. The officers of the corporation must
be licensed.
c. Employees of the corporation do
not need to be licensed.
d. Only employees who buy and sell
buildings need to be licensed.
