GA REAL ESTATE LICENSE UPDATED EXAM SCRIPT
QUESTIONS AND ANSWERS SURE A+
✔✔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
✔✔The licensee may continue a license by making a *written request within __ of
ceasing work that the license be placed on inactive status - ✔✔30 days
✔✔Is an inactive licensee required to pay the same renewal fees as an active licensee?
- ✔✔Yes
✔✔How many hours of Commission-approved continuing education is required for each
year or portion of a year? - ✔✔9
✔✔When should a license be surrendered to the Georgia Real Estate Commission? -
✔✔Revocation or suspension of the license
✔✔Any licensee who wants to reinstate a surrendered license must apply for licensure -
✔✔As an original applicant
✔✔If a qualifying broker surrender his or her license, he or she must - ✔✔Surrender the
wall licenses and pocket cards of the affiliated agents
✔✔Does a broker have to take an examination when surrendering his broker's license
in exchange for a salesperson license? - ✔✔No
✔✔In the event that the qualifying broker of a partnership, limited liability company, or
corporation does, resigns or is discharged unexpectedly, this partnership must secure a
new qualifying broker within __ days - ✔✔60
✔✔How long must the Commission maintain the paper record of an original application
for licensure, either on paper or electronically? - ✔✔15 years
✔✔How long does the Commission maintain investigative files? - ✔✔40 years for
investigative files in which the Commission imposed a formal disciplinary action or
makes a payment from the Recovery Fund. 15 years for all other things investigative
files
✔✔If a license applicant fails to pass the exam, the applicant - ✔✔may refile a new
application with an additional fee to retake the exam when scheduling permits.
,✔✔When surrendering a license, the licensee must forward the wall license and pocket
card to the Commission - ✔✔immediately.
✔✔An inactive license is valid for how long? - ✔✔Indefinitely, provided educational
requirements are met
✔✔A licensee can file an original application that requires a fee in all but which of the
following ways? - ✔✔Fax
✔✔If a licensee fails to meet the terms of the written transfer agreement, the broker -
✔✔must sign the release but may file a complaint with the Commission.
✔✔Under which of the following circumstances is it allowed under Georgia law that a
licensee can keep his own wall license? - ✔✔When he is retiring after at least 20 years
of active licensure
✔✔If a licensee transfers from his or her current broker to a new broker, what must the
current broker do? - ✔✔Sign a transfer and send the licensee's wall certificate to the
Commission.
✔✔In terms of its investigative functions - ✔✔the Commission may hire qualified outside
help only for needed special expertise or circumstances.
✔✔Which of the following may be filed online? - ✔✔Renewing licenses
✔✔Which is correct concerning an original license activation? - ✔✔Individual and firm
applicants must pay an activation fee and renewal fee.
✔✔Which of the following is true concerning a transferring licensee? - ✔✔The licensee
may continue written brokerage engagements if specifically authorized by the existing
broker.
✔✔Under which condition might the Commission choose to extend a renewal without
the licensee having to pay the required fees? - ✔✔A licensee living in a designated
disaster area suffers uninsured damage to his home.
✔✔If a licensee lets his or her license laps for 6 months, how much will the
reinstatement fee be? - ✔✔$150
✔✔A licensee who wants to activate a lapsed license which has been on inactive status
for a less than two years may do so by - ✔✔paying the required fees.
,✔✔If a license applicant fails to pass the exam, the applicant - ✔✔may refile a new
application with an additional fee to retake the exam when scheduling permits.
✔✔Which of the following is true concerning the qualifying broker's death? - ✔✔The
entity must secure a new qualifying broker within 60 days.
✔✔A licensee on inactive status who changes his or her address must notify the
Commission of the new address - ✔✔within 30 days.
✔✔The effective filing date is based on - ✔✔the US Postal Service postmarked date.
✔✔Under which of the following circumstances is it allowed under Georgia law that a
licensee can keep his own wall license? - ✔✔When he is retiring after at least 20 years
of active licensure
✔✔Agency - ✔✔Every relationship in which a real estate broker acts for or represents a
client by the latter's written authority.
✔✔Broker - ✔✔Any individual or entity issued a broker's real estate license by the
Georgia Real Estate Commission. The term "broker" includes the broker's affiliated
licensees unless stated otherwise.
✔✔Brokerage - ✔✔The business or occupation of a real estate broker.
✔✔Brokerage agreement - ✔✔A written contract wherein the seller, buyer, landlord or
tenant becomes the client of the broker and promises to pay the broker a valuable
consideration (or agrees that the real estate broker may receive a valuable
consideration from another) for producing a seller, buyer, tenant or landlord ready, able
and willing to sell, buy or rent the property.
✔✔Brokerage relationship - ✔✔The agency or non-agency relationship, which may be
formed between a broker and his or her clients and customers.
✔✔Client - ✔✔A person who is being represented by a real estate broker in an agency
capacity pursuant to a brokerage engagement.
✔✔Common source information company - ✔✔Any person, firm or corporation that is a
source, compiler or supplier of information regarding real estate for sale or lease. This
includes, but is not limited to, multiple listing services.
✔✔Customer - ✔✔A person who is not being represented by a real estate broker in an
agency capacity, but for whom a broker may perform ministerial acts with either a verbal
or written agreement.
, ✔✔Designated agent - ✔✔An agent appointed by his or her broker to represent one
client (either the buyer or seller) in a transaction to the exclusion of all other clients in
the same transaction and to the exclusion of all other agents in the brokerage.
✔✔Dual agent - ✔✔A broker who simultaneously has client relationships with both the
seller and buyer, or both the landlord and tenant, in the same real estate transaction.
✔✔1031 Exchange - ✔✔Exchanging like-kind property for like-kind property, resulting in
a deferral of capital gains tax; also called a tax-free exchange
✔✔Material facts - ✔✔Those facts that a party does not know, could not reasonably
discover, and would reasonably want to know.
✔✔Ministerial acts - ✔✔Those acts that do not require the exercise of the licensee's
professional judgment or skill. These acts can be performed without creating an agency
relationship.
✔✔Timely - ✔✔A reasonable time under the particular circumstances.
✔✔Transaction broker - ✔✔A broker who has not entered into a client relationship with
any of the parties to a real estate transaction. This broker performs only ministerial acts
on behalf the parties, but he or she is paid valuable consideration by one or more of the
parties for performing brokerage services pursuant to a verbal or written agreement.
✔✔BRRETA - ✔✔a Georgia law that governs the agency relationships of brokers with
sellers, buyers, landlords and tenants. BRRETA has been in effect since 1994 and was
revised in 2000.
✔✔Georgia's Brokerage Relationships in Real Estate Transactions Act - ✔✔BRRETA.
✔✔The intent of BRRETA - ✔✔Is to fill the "gaps" that specific written agreements
between the parties may not address. In other words, BRRETA was created to prevent
detrimental misunderstandings and misinterpretations of such relationships by both
consumers and real estate brokers, and, through this, to promote and provide stability in
the real estate market.
✔✔Under BRRETA, a Georgia broker who performs brokerage services for a client or
customer owes the client or customer - ✔✔only the duties and obligations set forth in
this chapter of the law, unless the parties expressly agree otherwise in writing, and this
agreement is signed by the parties.
✔✔If a broker who has an existing brokerage relationship with either a customer or a
client enters into a new brokerage relationship with that customer or client, the broker
QUESTIONS AND ANSWERS SURE A+
✔✔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
✔✔The licensee may continue a license by making a *written request within __ of
ceasing work that the license be placed on inactive status - ✔✔30 days
✔✔Is an inactive licensee required to pay the same renewal fees as an active licensee?
- ✔✔Yes
✔✔How many hours of Commission-approved continuing education is required for each
year or portion of a year? - ✔✔9
✔✔When should a license be surrendered to the Georgia Real Estate Commission? -
✔✔Revocation or suspension of the license
✔✔Any licensee who wants to reinstate a surrendered license must apply for licensure -
✔✔As an original applicant
✔✔If a qualifying broker surrender his or her license, he or she must - ✔✔Surrender the
wall licenses and pocket cards of the affiliated agents
✔✔Does a broker have to take an examination when surrendering his broker's license
in exchange for a salesperson license? - ✔✔No
✔✔In the event that the qualifying broker of a partnership, limited liability company, or
corporation does, resigns or is discharged unexpectedly, this partnership must secure a
new qualifying broker within __ days - ✔✔60
✔✔How long must the Commission maintain the paper record of an original application
for licensure, either on paper or electronically? - ✔✔15 years
✔✔How long does the Commission maintain investigative files? - ✔✔40 years for
investigative files in which the Commission imposed a formal disciplinary action or
makes a payment from the Recovery Fund. 15 years for all other things investigative
files
✔✔If a license applicant fails to pass the exam, the applicant - ✔✔may refile a new
application with an additional fee to retake the exam when scheduling permits.
,✔✔When surrendering a license, the licensee must forward the wall license and pocket
card to the Commission - ✔✔immediately.
✔✔An inactive license is valid for how long? - ✔✔Indefinitely, provided educational
requirements are met
✔✔A licensee can file an original application that requires a fee in all but which of the
following ways? - ✔✔Fax
✔✔If a licensee fails to meet the terms of the written transfer agreement, the broker -
✔✔must sign the release but may file a complaint with the Commission.
✔✔Under which of the following circumstances is it allowed under Georgia law that a
licensee can keep his own wall license? - ✔✔When he is retiring after at least 20 years
of active licensure
✔✔If a licensee transfers from his or her current broker to a new broker, what must the
current broker do? - ✔✔Sign a transfer and send the licensee's wall certificate to the
Commission.
✔✔In terms of its investigative functions - ✔✔the Commission may hire qualified outside
help only for needed special expertise or circumstances.
✔✔Which of the following may be filed online? - ✔✔Renewing licenses
✔✔Which is correct concerning an original license activation? - ✔✔Individual and firm
applicants must pay an activation fee and renewal fee.
✔✔Which of the following is true concerning a transferring licensee? - ✔✔The licensee
may continue written brokerage engagements if specifically authorized by the existing
broker.
✔✔Under which condition might the Commission choose to extend a renewal without
the licensee having to pay the required fees? - ✔✔A licensee living in a designated
disaster area suffers uninsured damage to his home.
✔✔If a licensee lets his or her license laps for 6 months, how much will the
reinstatement fee be? - ✔✔$150
✔✔A licensee who wants to activate a lapsed license which has been on inactive status
for a less than two years may do so by - ✔✔paying the required fees.
,✔✔If a license applicant fails to pass the exam, the applicant - ✔✔may refile a new
application with an additional fee to retake the exam when scheduling permits.
✔✔Which of the following is true concerning the qualifying broker's death? - ✔✔The
entity must secure a new qualifying broker within 60 days.
✔✔A licensee on inactive status who changes his or her address must notify the
Commission of the new address - ✔✔within 30 days.
✔✔The effective filing date is based on - ✔✔the US Postal Service postmarked date.
✔✔Under which of the following circumstances is it allowed under Georgia law that a
licensee can keep his own wall license? - ✔✔When he is retiring after at least 20 years
of active licensure
✔✔Agency - ✔✔Every relationship in which a real estate broker acts for or represents a
client by the latter's written authority.
✔✔Broker - ✔✔Any individual or entity issued a broker's real estate license by the
Georgia Real Estate Commission. The term "broker" includes the broker's affiliated
licensees unless stated otherwise.
✔✔Brokerage - ✔✔The business or occupation of a real estate broker.
✔✔Brokerage agreement - ✔✔A written contract wherein the seller, buyer, landlord or
tenant becomes the client of the broker and promises to pay the broker a valuable
consideration (or agrees that the real estate broker may receive a valuable
consideration from another) for producing a seller, buyer, tenant or landlord ready, able
and willing to sell, buy or rent the property.
✔✔Brokerage relationship - ✔✔The agency or non-agency relationship, which may be
formed between a broker and his or her clients and customers.
✔✔Client - ✔✔A person who is being represented by a real estate broker in an agency
capacity pursuant to a brokerage engagement.
✔✔Common source information company - ✔✔Any person, firm or corporation that is a
source, compiler or supplier of information regarding real estate for sale or lease. This
includes, but is not limited to, multiple listing services.
✔✔Customer - ✔✔A person who is not being represented by a real estate broker in an
agency capacity, but for whom a broker may perform ministerial acts with either a verbal
or written agreement.
, ✔✔Designated agent - ✔✔An agent appointed by his or her broker to represent one
client (either the buyer or seller) in a transaction to the exclusion of all other clients in
the same transaction and to the exclusion of all other agents in the brokerage.
✔✔Dual agent - ✔✔A broker who simultaneously has client relationships with both the
seller and buyer, or both the landlord and tenant, in the same real estate transaction.
✔✔1031 Exchange - ✔✔Exchanging like-kind property for like-kind property, resulting in
a deferral of capital gains tax; also called a tax-free exchange
✔✔Material facts - ✔✔Those facts that a party does not know, could not reasonably
discover, and would reasonably want to know.
✔✔Ministerial acts - ✔✔Those acts that do not require the exercise of the licensee's
professional judgment or skill. These acts can be performed without creating an agency
relationship.
✔✔Timely - ✔✔A reasonable time under the particular circumstances.
✔✔Transaction broker - ✔✔A broker who has not entered into a client relationship with
any of the parties to a real estate transaction. This broker performs only ministerial acts
on behalf the parties, but he or she is paid valuable consideration by one or more of the
parties for performing brokerage services pursuant to a verbal or written agreement.
✔✔BRRETA - ✔✔a Georgia law that governs the agency relationships of brokers with
sellers, buyers, landlords and tenants. BRRETA has been in effect since 1994 and was
revised in 2000.
✔✔Georgia's Brokerage Relationships in Real Estate Transactions Act - ✔✔BRRETA.
✔✔The intent of BRRETA - ✔✔Is to fill the "gaps" that specific written agreements
between the parties may not address. In other words, BRRETA was created to prevent
detrimental misunderstandings and misinterpretations of such relationships by both
consumers and real estate brokers, and, through this, to promote and provide stability in
the real estate market.
✔✔Under BRRETA, a Georgia broker who performs brokerage services for a client or
customer owes the client or customer - ✔✔only the duties and obligations set forth in
this chapter of the law, unless the parties expressly agree otherwise in writing, and this
agreement is signed by the parties.
✔✔If a broker who has an existing brokerage relationship with either a customer or a
client enters into a new brokerage relationship with that customer or client, the broker
