COLIBRI REAL ESTATE PRINCIPLES FINAL 2026
FINAL ASSESSMENT PAPER PROPERTY
TRANSACTIONS COMPREHENSIVE QUESTIONS
AND ANSWERS VERIFIED A+
◉ How many commission members must be licensed. Answer: Five
of the six members of the Georgia Real Estate can have licenses One
must be an unlicensed member of the " general public 3.
EARLNOTES
◉ What must happen with all funds in a sale. Answer: All money that
belongs to clients or customers must be deposited in the brokerage
trust fund as soon as possible ASAP after receipt .
◉ What is the procedure for license expiration. Answer: When a
license has been lapsed for more than two years but less than five
years the former licensee may request reinstatement and retake a
75 - hour pre - license course . After ten years the former licensee
must follow the procedure for new applicants .
◉ Which descrihes dual agency. Answer: When a broker appoints
one of his agents to serve the seller and one to serve the buyer , they
are called designated agents and the broker will serve as a dual
agent .
,◉ What happens when someone recieves mistreatment from a real
estate licensee. Answer: When a consumer or client ( not another
licensee or a relative of the accused licensee ) is financially damaged
by the actions of a licensee , he or she can file , through the court a
claim against the Georgia Real Estate Education , Research and
Recovery Fund for reimbursement up to $ 25,000 per transaction .
◉ For a brokerage or any licensee under a managing broker to be
considered a Dual Agent , he / she must. Answer: obtain written
permission from both the seller and the buyer before acting on
behalf of either party . BIRTH MONTHS
◉ When are renewal deadlines for licensees. Answer: All renewal
deadlines for licenses are set for the last day of the licensee's birth
month every four full years . ( The licensee's first renewal period
may be longer , depending on when the license was obtained . It
starts the last day of the birth month that arrives after the license is
obtained ) .
◉ What is the training hours required for licensees. Answer:
Assuming a licensee has competed the 25 - hour GA Post License
Course during the first year of licensure ) , he will receive credit for 9
hours of Continuing education and will only need to complete 27
hours of CE during the rest of the licensee's first licensure period .
For the second four - year period and each renewal thereafter . the
requirement is 36 hours of CE.
, ◉ If a buyer client wishes to withdraw from a contract and get h his
earnest money returned the salesperson must. Answer: REFER the
issue to the EMPLOYING or managing BROKER for a decision
◉ When every original license fee is received , of the funds received
_____from each license fee is allocated to fund the RE Education ,
Research and Recovery Fund. Answer: 20$
◉ The clause in an agency agreement used to safeguard the broker
from unscrupulous buyers or sellers , who would take the broker's
generated leads , but then buy or sell the property once the listing
agreement has expired in order to avoid paying the commission to
the licensee is known as. Answer: The Safety or Carryover Extender
Clause .
◉ Under GA Law , a listing broker. Answer: does not have to share
his sales commission with the selling broker who has procured the
ultimate buyer, this is legal and not against GA real estate law.
◉ Every brokerage must maintain. Answer: an accounting system to
detail all receipts and deposits received from others that are under
the control of the brokerage.
FINAL ASSESSMENT PAPER PROPERTY
TRANSACTIONS COMPREHENSIVE QUESTIONS
AND ANSWERS VERIFIED A+
◉ How many commission members must be licensed. Answer: Five
of the six members of the Georgia Real Estate can have licenses One
must be an unlicensed member of the " general public 3.
EARLNOTES
◉ What must happen with all funds in a sale. Answer: All money that
belongs to clients or customers must be deposited in the brokerage
trust fund as soon as possible ASAP after receipt .
◉ What is the procedure for license expiration. Answer: When a
license has been lapsed for more than two years but less than five
years the former licensee may request reinstatement and retake a
75 - hour pre - license course . After ten years the former licensee
must follow the procedure for new applicants .
◉ Which descrihes dual agency. Answer: When a broker appoints
one of his agents to serve the seller and one to serve the buyer , they
are called designated agents and the broker will serve as a dual
agent .
,◉ What happens when someone recieves mistreatment from a real
estate licensee. Answer: When a consumer or client ( not another
licensee or a relative of the accused licensee ) is financially damaged
by the actions of a licensee , he or she can file , through the court a
claim against the Georgia Real Estate Education , Research and
Recovery Fund for reimbursement up to $ 25,000 per transaction .
◉ For a brokerage or any licensee under a managing broker to be
considered a Dual Agent , he / she must. Answer: obtain written
permission from both the seller and the buyer before acting on
behalf of either party . BIRTH MONTHS
◉ When are renewal deadlines for licensees. Answer: All renewal
deadlines for licenses are set for the last day of the licensee's birth
month every four full years . ( The licensee's first renewal period
may be longer , depending on when the license was obtained . It
starts the last day of the birth month that arrives after the license is
obtained ) .
◉ What is the training hours required for licensees. Answer:
Assuming a licensee has competed the 25 - hour GA Post License
Course during the first year of licensure ) , he will receive credit for 9
hours of Continuing education and will only need to complete 27
hours of CE during the rest of the licensee's first licensure period .
For the second four - year period and each renewal thereafter . the
requirement is 36 hours of CE.
, ◉ If a buyer client wishes to withdraw from a contract and get h his
earnest money returned the salesperson must. Answer: REFER the
issue to the EMPLOYING or managing BROKER for a decision
◉ When every original license fee is received , of the funds received
_____from each license fee is allocated to fund the RE Education ,
Research and Recovery Fund. Answer: 20$
◉ The clause in an agency agreement used to safeguard the broker
from unscrupulous buyers or sellers , who would take the broker's
generated leads , but then buy or sell the property once the listing
agreement has expired in order to avoid paying the commission to
the licensee is known as. Answer: The Safety or Carryover Extender
Clause .
◉ Under GA Law , a listing broker. Answer: does not have to share
his sales commission with the selling broker who has procured the
ultimate buyer, this is legal and not against GA real estate law.
◉ Every brokerage must maintain. Answer: an accounting system to
detail all receipts and deposits received from others that are under
the control of the brokerage.
