GEORGIA REAL ESTATE LICENSE LAWS AND RULES QUESTIONS AND ANSWERS, 100% ACCURATE, GRADED A+/ VERIFIED.| latest update 2024/25|

GEORGIA REAL ESTATE LICENSE LAWS AND RULES QUESTIONS AND ANSWERS, 100% ACCURATE, GRADED A+/ VERIFIED. Which of the following would NOT be a violation of the Georgia License Law? A) Falsifying a document used in a real estate transaction B) Failing to advise your broker in writing when buying or selling property for yourself C) Failure to give a copy of a signed offer to the purchaser D) Failure to put a street adress in a legal description - -D) Failure to put a street adress in a legal description A broker was found guilty of commingling. The Real Estate Commission shall have the power to: A) impose a fine not to exceed $1,000. B) impose a fine not to exceed $5,000. C) imprison the licensee up to one year D) imprison the licensee up to five years - -A) impose a fine not to exceed $1,000. Which of the following is NOT a legitimate reason for a broker or sales associate to refuse a listing? A) the seller states an unreasonable list price for the property. B) the property is not in the firm's geographical service area. C) the property type is not handled by the firm D) the owner's minority status would make the property difficult to sell. - -D) the owner's minority status would make the property difficult to sell. In Georgia, a broker must deposit the earnest money in a separate trust or escrow account established for that purpose, unless: A) the amount is less than $500 B) all parties involved have agreed otherwise in writing C) the broker has established a policy for holding the earnest money D) the seller has requested that the money be deposited in his or her account. - -B) all parties involved have agreed otherwise in writing A salesperson negotiated the sale of a house for a builder. Because the house had been on the market for a long time, the builder offered to give the salesperson a television as a bonus. Which of the following is true about this situation? A) The salesperson can accept the bonus only if he notifies the purchaser. B) The salesperson can accept the bonus only with the knowledge and consent of the broker holding the license. C) Because the value of the bonus is nominal, the salesperson can accept it without notifying anyone. D) The salesperson cannot accept the bonus under any circumstances because that would be an unfair trade practice. - -B) The salesperson can accept the bonus only with the knowledge and consent of the broker holding the license. In the marketing of a condominium unit, the real estate licensee tells the prospective buyer "that because of the demand for these units the price will double in five years." This statement by the licensee is: A) an acceptable practice in the marketing of residential condominium units. B) an example of dual agency and need not be disclosed C) a violation of the license law D) required to be in writing and made part of the real estate sales contract. - -C) a violation of the license law "For Sale" signs must be moved from the property no later than: A) the day of the expiration of the listing B) ten days after the expiration of the listing C) thirty days after the expiration of the listing D) a reasonable time after the expiration of the listing - -B) ten days after the expiration of the listing A broker learns that a neighbor might be selling their house and proceeds to secure potential buyers without the knowledge and consent of the owner. Would the broker's action be in violation of the license law? A) No, this would be considered an open brokerage agreemen