Georgia Real Estate U Final Exam Study with 100%
Verified Answers
What is a lien theory state? - -The homeowner holds the deed for the property
Page | 1
throughout the entire loan.
There is a mixed-use property for sale in Cassie's community, and a buyer walks into her
office looking for a residential space. Should Cassie consider showing him the property
zoned mixed-use? - -Yes, because mixed-use is a combination of commercial and
residential real estate
An investor who bought a rental house needs someone to take care of the property, screen
prospective renters, coordinate repairs, handle maintenance and tenant concerns, and
evictions, if necessary. He's looking for a...? - -Property manager
In economics, supply is...? - -The quantity of goods or services available, whether in
abundance or scarcity.
In economics, demand is...? - -The supply of willing and able consumers, which can
be few or numerous.
When the supply is limited and demand is high...? - -Prices escalate
To become a real estate broker, a person must have...? - -Experience as an agent, a
broker's license, and additional education.
Real estate brokers are paid a commission for the sales, and...? - -The commission,
which can vary, is split between the broker and agent.
, Property types are generally categorized by the ............ that applies to that property. -
-Zoning Law
Page | 2
A family is going to build their dream home, and they've looked at several house plans, but
they haven't found one that is exactly right. They'd like to take some parts from one plan
and combine it with parts from another, with some additional innovations of their own.
They want someone who can design and plan their home and work with the contractors to
build it. The person they need to find is ...? - -An Architect
Single family homes are...? - -Private freestanding residential houses
The effect of the first-time homebuyer's tax credit was to...? - -Motivate people to buy
homes
Real estate agents work with...? - -Buyers and Sellers
When supply is plentiful and demand is low...? - -Prices drop
Sam is looking for a warehouse, and he wants to find a real estate agent or broker who is
knowledgeable in this area. He's starting a business, and it will require space for assembly
and production, but he also needs to be able to use it for distribution, warehousing, and
research and development. He needs to find...? - -A agent that specializes in
industrial property
Single-family homes and single-family lots are always considered...? - -Residential
Property
, Fill in the blank. ............ represent both the buyer and seller or both the tenant and
landlord in the same transaction. - -Dual Agents
Page | 3 If you serve in the army reserve and are studying to be a broker, you effectively get 10 points
added to your score. Which of the following is true? - -5 points are added in each of
Information Gathering and Decision Making sections.
If the Commission denies your application based on a conviction or disciplinary action,
what rights do you have? - -You have the right to a hearing for a final determination.
Every salesperson has to provide the Commission with evidence that they completed a
............ post-license course within one year of obtaining their license. - -25 hours
Hans Rosenstein moved from Florida, where he was a sales agent, to Georgia. Hans
completed his post-license course in Florida, a state considered similar to Georgia in
terms of real estate law. Does Hans have to take the post-license course in Georgia? -
-No
Jolie Harper is a licensed real estate agent in a Georgia brokerage. She is offered a job
selling condos for the unlicensed owner-developer. Jolie must ............ and will have to
reapply if she decides to practice as a salesperson under a brokerage again. - -
Inactive her license
Any lapse longer than two years and under five years can be reinstated by paying back fees
and taking the appropriate class. Which of the following is not a valid answer? - -For
appraisers, they must take the Salespersons Prelicense Course.
Prince Stover moves his Athens brokerage to a location with more foot traffic. He must
notify the Commission within ............ days of his new address. - -30
, ............ is required prior to advertising property for rent, sale, lease or exchange. - -
Written permission to advertise
Page | 4
If a licensee makes an offer on a property as part of a brokerage engagement or an
extension of an engagement, the terms and conditions of the engagement must be set
down in a...? - -Written agreement
Fill in the appropriate amounts. The activation fee to apply for a license as an individual or
associate broker, salesperson, or community association manager is ............. The
activation fee for a new firm, school or instructor is ............. Both fees include $20 toward
the Real Estate Education, Research and Recovery Fund. - -$45 (Dollars) / $75
(Dollars)
Kit Benning is a sales agent who decides to buy a property currently listed for her clients,
the Winstons. Kit finds a home that the Winstons wish to purchase. While drawing up the
sales contracts, she makes her purchase of the Winstons home contingent on their
extending the brokerage engagement by 60 days to allow time for the closings. Which of the
following is true? - -This meets the requirement of the rule.
A licensee cannot falsify a record, or knowingly allow a record to be falsified, either orally or
in writing, by a third party. This rule covers the following misinformation, EXCEPT: - -
The actual real lease, sales, or exchange price
When representing the seller, a licensee is obligated to present ............ to procure a
property for sale. - -Any signed offer
A broker should keep copies of documents and records for...? - -3 years
Verified Answers
What is a lien theory state? - -The homeowner holds the deed for the property
Page | 1
throughout the entire loan.
There is a mixed-use property for sale in Cassie's community, and a buyer walks into her
office looking for a residential space. Should Cassie consider showing him the property
zoned mixed-use? - -Yes, because mixed-use is a combination of commercial and
residential real estate
An investor who bought a rental house needs someone to take care of the property, screen
prospective renters, coordinate repairs, handle maintenance and tenant concerns, and
evictions, if necessary. He's looking for a...? - -Property manager
In economics, supply is...? - -The quantity of goods or services available, whether in
abundance or scarcity.
In economics, demand is...? - -The supply of willing and able consumers, which can
be few or numerous.
When the supply is limited and demand is high...? - -Prices escalate
To become a real estate broker, a person must have...? - -Experience as an agent, a
broker's license, and additional education.
Real estate brokers are paid a commission for the sales, and...? - -The commission,
which can vary, is split between the broker and agent.
, Property types are generally categorized by the ............ that applies to that property. -
-Zoning Law
Page | 2
A family is going to build their dream home, and they've looked at several house plans, but
they haven't found one that is exactly right. They'd like to take some parts from one plan
and combine it with parts from another, with some additional innovations of their own.
They want someone who can design and plan their home and work with the contractors to
build it. The person they need to find is ...? - -An Architect
Single family homes are...? - -Private freestanding residential houses
The effect of the first-time homebuyer's tax credit was to...? - -Motivate people to buy
homes
Real estate agents work with...? - -Buyers and Sellers
When supply is plentiful and demand is low...? - -Prices drop
Sam is looking for a warehouse, and he wants to find a real estate agent or broker who is
knowledgeable in this area. He's starting a business, and it will require space for assembly
and production, but he also needs to be able to use it for distribution, warehousing, and
research and development. He needs to find...? - -A agent that specializes in
industrial property
Single-family homes and single-family lots are always considered...? - -Residential
Property
, Fill in the blank. ............ represent both the buyer and seller or both the tenant and
landlord in the same transaction. - -Dual Agents
Page | 3 If you serve in the army reserve and are studying to be a broker, you effectively get 10 points
added to your score. Which of the following is true? - -5 points are added in each of
Information Gathering and Decision Making sections.
If the Commission denies your application based on a conviction or disciplinary action,
what rights do you have? - -You have the right to a hearing for a final determination.
Every salesperson has to provide the Commission with evidence that they completed a
............ post-license course within one year of obtaining their license. - -25 hours
Hans Rosenstein moved from Florida, where he was a sales agent, to Georgia. Hans
completed his post-license course in Florida, a state considered similar to Georgia in
terms of real estate law. Does Hans have to take the post-license course in Georgia? -
-No
Jolie Harper is a licensed real estate agent in a Georgia brokerage. She is offered a job
selling condos for the unlicensed owner-developer. Jolie must ............ and will have to
reapply if she decides to practice as a salesperson under a brokerage again. - -
Inactive her license
Any lapse longer than two years and under five years can be reinstated by paying back fees
and taking the appropriate class. Which of the following is not a valid answer? - -For
appraisers, they must take the Salespersons Prelicense Course.
Prince Stover moves his Athens brokerage to a location with more foot traffic. He must
notify the Commission within ............ days of his new address. - -30
, ............ is required prior to advertising property for rent, sale, lease or exchange. - -
Written permission to advertise
Page | 4
If a licensee makes an offer on a property as part of a brokerage engagement or an
extension of an engagement, the terms and conditions of the engagement must be set
down in a...? - -Written agreement
Fill in the appropriate amounts. The activation fee to apply for a license as an individual or
associate broker, salesperson, or community association manager is ............. The
activation fee for a new firm, school or instructor is ............. Both fees include $20 toward
the Real Estate Education, Research and Recovery Fund. - -$45 (Dollars) / $75
(Dollars)
Kit Benning is a sales agent who decides to buy a property currently listed for her clients,
the Winstons. Kit finds a home that the Winstons wish to purchase. While drawing up the
sales contracts, she makes her purchase of the Winstons home contingent on their
extending the brokerage engagement by 60 days to allow time for the closings. Which of the
following is true? - -This meets the requirement of the rule.
A licensee cannot falsify a record, or knowingly allow a record to be falsified, either orally or
in writing, by a third party. This rule covers the following misinformation, EXCEPT: - -
The actual real lease, sales, or exchange price
When representing the seller, a licensee is obligated to present ............ to procure a
property for sale. - -Any signed offer
A broker should keep copies of documents and records for...? - -3 years
