ANSWERS SURE A+
✔✔Who is exempted from having a real estate license? (2) - ✔✔An *attorney in fact*
under a duly executed power of attorney to convey real estate from the owner/lessor.
✔✔Who is exempted from having a real estate license? (3) - ✔✔An *attorney at law*
acting solely as an incident to the practice of law.
✔✔Who is exempted from having a real estate license? (4) - ✔✔Any person acting as
receiver, trustee in bankruptcy, administrator, executor, or guardian or while acting
under a court order or under the authority of a will or of a trust instrument
✔✔Who is exempted from having a real estate license? (5) - ✔✔Any officer or
employee of a *government agency* in the conduct of official duties.
✔✔Who is exempted from having a real estate license? (6) - ✔✔Any person employed
full-time by a *public or private utility* who performs any act with reference to property
owned, leased, or to be acquired by the utility employing that person, where such acts
are performed in the regular course of the management of such property and the
investment therein.
✔✔Who is exempted from having a real estate license? (7) - ✔✔*A manager of
residential properties* if the contract has been approved by a federal agency
✔✔Who is exempted from having a real estate license? (8) - ✔✔*Full-time employees of
the property owner, who have been employed to provide property management
services.
✔✔Who is exempted from having a real estate license? (9) - ✔✔Any person acting as a
*referral agent,* who is not involved in the actual negotiations, execution of documents,
etc.
✔✔Who is exempted from having a real estate license? (10) - ✔✔Any *individual
employed by a broker to assist in property management services on residential
property, provided that such individual's activities are explicitly authorized by the broker
in a written agreement between the broker and the employee and provided that such
activities are limited.
✔✔The Innkeeper's Exemption - ✔✔Any person who provides property management
services on properties available for less than 90 days' occupancy by guests or
occupants and meets certain conditions is exempt from license law
✔✔Applications to the Commission of a real estate licensee are - ✔✔Confidential
,✔✔Applicants for a salesperson's license must be: (1) - ✔✔18 or older
✔✔Applicants for a salesperson's license must be: (2) - ✔✔A resident of the state of
Georgia (unless the person has fully complied with the provisions regarding out of state
licenses)
✔✔Applicants for a salesperson's license must be: (3) - ✔✔A high school graduate or
the holder of a certificate of equivalency
✔✔Applicants for a salesperson's license must be: (4) - ✔✔A proven student of an
approved 75-hour salesperson's course
✔✔Applicants for a salesperson's license must be: (5) - ✔✔A passer of a real estate
examination administered or approved by the Commission covering general matters of
importance to real estate brokers and salespersons
✔✔An applicant who wishes to qualify for a *broker* or *associate broker's license*
must meet the salespersons licensee conditions, plus: (1) - ✔✔21 or older
✔✔An applicant who wishes to qualify for a *broker* or *associate broker's license*
must meet the salespersons licensee conditions, plus: (2) - ✔✔Served 3 years as a
salesperson licensee
✔✔An applicant who wishes to qualify for a *broker* or *associate broker's license*
must meet the salespersons licensee conditions, plus: (3) - ✔✔60 hours in a broker's
course approved by the Commission
✔✔An applicant who wishes to qualify for a *broker* or *associate broker's license*
must meet the salespersons licensee conditions, plus: (4) - ✔✔A passer of a real estate
examination administered by or approved by the Commission covering the general
matters of importance to real estate brokers.
✔✔Once a *salesperson* has been issued his original license, he must satisfactorily
complete a _____ of study within ____ year(s) of licensure. This is the mandatory
_____ - ✔✔25-hour course; 1; Post-license educational requirement
✔✔What happens to a salesperson's license if they do not complete the 25-hour post-
license course in a timely manner? - ✔✔It will lapse and his wall certificate of licensure
and pocket card must immediately be given to the Commission
✔✔When may a salesperson with a lapsed license for failure to complete the post-
license course reinstate the license? - ✔✔Within six months of the lapsing of the
license, if certain conditions are met
,✔✔The license period in Georgia is __ years. - ✔✔4
✔✔What day does the licensee renew his or her license? - ✔✔After 4 years on the last
day of the birth month of the applicant
✔✔What is required when renewing a salesperson's license after 4 years? - ✔✔Proof of
completion of 36 hours of continuing education requirements and payment of the
renewal fee.
✔✔Inactive status - ✔✔Temporarily discontinued active involvement in real estate. Not
permitted to practice real estate. Required to take the 25-hour post-license course for
new licensees and to pay the same renewal fees as an active licensee.
✔✔How long is inactive status valid? - ✔✔An indefinite period of time as long as the
licensee is up-to-days on continuing education requirements of nine (9) hours per year.
✔✔Real estate licenses may be issued to these entities in Georgia: (1) - ✔✔Sole
proprietorships
✔✔Real estate licenses may be issued to these entities in Georgia: (2) -
✔✔Partnerships
✔✔Real estate licenses may be issued to these entities in Georgia: (3) -
✔✔Corporations
✔✔Real estate licenses may be issued to these entities in Georgia: (4) - ✔✔Limited
liability companies (LLC)
✔✔How many people in an entity must hold a broker's license to be issued a real estate
license? - ✔✔One (1) person
✔✔Reciprocity - ✔✔The Commission has the authority to enter into written agreements
with similar licensing authorities of other states. This is known as
✔✔A score of __% or higher on the License Exam is required for licensure - ✔✔75
✔✔The requirements for the salesperson or community association manager license
applicant are: (1) - ✔✔Must apply within 3 months of the date of the exam and pay a
fee; OR after 3 months of the exam date but before 12 months, with a *double fee.*
✔✔The requirements for the salesperson or community association manager license
applicant are: (2) - ✔✔Application must include the signature of the applicant's
, employing broker; OR, if there isn't an employing broker, the applicant may apply for an
*inactive license.*
✔✔The requirements for a broker license applicant are as follows: (1) - ✔✔Applicant
must apply for the broker license within *one year* of the exam date
✔✔The requirements for a broker license applicant are as follows: (2) - ✔✔If the broker
applicant does not apply for the license within the 1 year time frame, the exam is
considered *null* and the applicant must retake the exam if he wishes to be licensed in
the future.
✔✔The Commission may deny a license to any corporation, limited liability company, or
partnership - ✔✔if a stockholder, member, or partner of that firm does not have a good
reputation for honesty, trustworthiness, and integrity; has been served a conviction or
felony, or has been sanctioned by any legally constituted regulatory agency for violating
a law regulating the sale of real estate.
✔✔The Commission may _____ at any time to determine whether a licensee has
violated any of its rules and regulations - ✔✔Initiate an investigation
✔✔Applications for licensure, renewal of license, transfer of license, changes in the
status of a license, or change in the name of a firm must be on - ✔✔Commission-
approved forms
✔✔Changes in other information that is required to be filed with the Commission,
including changes in trust accounts, address changes, and individuals' name changes
may be done by - ✔✔Letter
✔✔Within __ days of filing an application each applicant for a license or for an instructor
approval must obtain - at his or her own expense - a certified criminal history report -
✔✔60
✔✔The fees set by by the Commission pay for - ✔✔The expense of maintenance and
operation of the office of the Commission and the enforcement of the Commission
regulations
✔✔Any license or approval which lapses solely because the licensee failed to pay the
renewal fee may be reinstated if it is within how many years of the date of lapsing? -
✔✔2
✔✔If a license has lapsed for longer than __ years for failure to pay a renewal fee, the
licensee must meet the education and examination requirements of a new license. -
✔✔10