The CE Shop :Final Exam Georgia Questions and Answers Rated A
What is a general lien? ______ decays.
A claim against a person and all of that person's Kryptonite
property
Lead
A claim against a specific piece of property
Radonite
A type of mortgage lien
Uranium - ANSWER -Uranium
A type of tax lien - ANSWER -A claim
against a person and all of that person's property
Which of the following statements applies to both
employees and independent contractors?
Which of the following discriminatory practice
does the Home Mortgage Disclosure Act (HMDA) They can set their own work hours.
seek to address?
They're both supervised.
Blockbusting
They're not required to work in a specific location.
Credit reporting
They're paid by the job and not by the hour -
Mortgage applications ANSWER -They're both supervised.
Redlining - ANSWER -Redlining
Which of the following statements about junior
loans is true?
What is a real estate mortgage investment
conduit (REMIC)? A junior loan cannot have a higher principal than
a senior loan.
A company that owns, and usually operates,
income-producing real estate A senior loan must be repaid before a junior loan.
An entity used to pool mortgage loans and issue The interest rate is usually higher than for a
mortgage-backed securities senior loan.
An organization that manages income-producing The interest rate is usually lower than for a senior
real estate properties. loan. - ANSWER -The interest rate is
usually higher than for a senior loan.
An organization with many investors who jointly
participate in a real estate investment -
ANSWER -An entity used to pool mortgage Duncan is a real estate licensee. Which Georgia
loans and issue mortgage-backed securities entity is responsible for adopting rules and
regulations to enforce license law regarding
Duncan's activities?
Radon has natural origins and is a colorless,
odorless, radioactive gas that's released when Georgia General Assembly
,The CE Shop :Final Exam Georgia Questions and Answers Rated A
Georgia Real Estate Commission Lender
The Real Estate Commissioner Seller - ANSWER -Buyer
The real estate department - ANSWER -
Georgia Real Estate Commission The cost approach to finding an appraised value
measures _______.
How long can a broker wait after non-payment of The cost to acquire a property only
a commission to record a lien against a
commercial property? The cost to acquire land and construct a
reproduction
30 days
The cost to construct a reproduction only
90 days
The expenses the property is expected to
One week produce for the owner - ANSWER -The cost
to acquire land and construct a reproduction
One year - ANSWER -90 days
How should a licensee respond to a client who
Ed Smith is a sole proprietor using the trade asks to be shown property based on the racial
name "Ed Knows Real Estate." Under what makeup of neighborhoods?
name may Ed legally conduct business?
"I'll do my best, but just to make sure it doesn't
"Ed Knows Real Estate, DBA Ed Smith" look suspicious, we'll need to include at least one
showing in a different neighborhood."
"Ed" or "Ed Smith" only
"I'm sorry that you feel that way. I am obligated to
"Ed Smith, DBA 'Ed Knows Real Estate'" obey the requests of my clients, but I'm going to
need you to write up your request and sign it, so
"Ed Smith" or "Ed Knows Real Estate" - there's no way I can get in trouble for fair housing
ANSWER -"Ed Smith, DBA 'Ed Knows Real violations."
Estate'"
"I'm sorry that you feel that way. If I can't change
your mind, I think we should terminate our
Jeremy has just finished completing his loan agreement, and you can look for another real
application and has gathered supporting estate professional."
documentation needed to determine whether the
application will be approved. Which of these titles "Let's keep this off the record. We just need to
best describes who Jeremy is? make sure it all looks legitimate from the outside."
- ANSWER -"I'm sorry that you feel that
Buyer way. If I can't change your mind, I think we
should terminate our agreement, and you can
Closing attorney look for another real estate professional."
, The CE Shop :Final Exam Georgia Questions and Answers Rated A
Physical deterioration - ANSWER -
Functional obsolescence
What's a benchmark?
A permanent reference point for marking datums Broker Alex learns that his friend Joann is
frustrated with the broker who listed her home.
The beginning point for lot and block surveys Alex encourages Joann to break her existing
agency agreement and sign with him instead.
The beginning point for metes and bounds This violation is an example of ______.
surveys
Contractual interference
The beginning point for rectangular surveys -
ANSWER -A permanent reference point for Failure to disclose an agency relationship
marking datums
Making a substantial and willful
misrepresentation
Marcy listed her property with Jennings Homes in
March. The market is slow, and Marcy's property Performing services that would qualify as practice
isn't in great condition, though she's sure she can of law - ANSWER -Contractual interference
get top dollar for it because of its location. Her
agent encourages her to either reduce the price
or fix the property up, but she refuses. Both A property that's been converted to natural gas
Marcy and her agent are frustrated. What's the may actually have which issue?
best option for both of them?
A decrease in value
Bring in another agent to help price the property.
An undiscovered oil tank
Let the listing expire.
Increased fuel bills
One party or the other should terminate the
listing. Remodeling problems - ANSWER -An
undiscovered oil tank
They can mutually agree to terminate the listing.
- ANSWER -They can mutually agree to
terminate the listing. Which of the following responsibilities does the
commercial property manager have that the
residential property manager doesn't have?
Which type of depreciation is a loss in value due
to defects in a structure's design? Evict tenants who fail to comply with the terms
and conditions of the lease agreement
Curable obsolescence
Negotiate leases
External obsolescence
Oversee the maintenance of buildings on the
Functional obsolescence property
What is a general lien? ______ decays.
A claim against a person and all of that person's Kryptonite
property
Lead
A claim against a specific piece of property
Radonite
A type of mortgage lien
Uranium - ANSWER -Uranium
A type of tax lien - ANSWER -A claim
against a person and all of that person's property
Which of the following statements applies to both
employees and independent contractors?
Which of the following discriminatory practice
does the Home Mortgage Disclosure Act (HMDA) They can set their own work hours.
seek to address?
They're both supervised.
Blockbusting
They're not required to work in a specific location.
Credit reporting
They're paid by the job and not by the hour -
Mortgage applications ANSWER -They're both supervised.
Redlining - ANSWER -Redlining
Which of the following statements about junior
loans is true?
What is a real estate mortgage investment
conduit (REMIC)? A junior loan cannot have a higher principal than
a senior loan.
A company that owns, and usually operates,
income-producing real estate A senior loan must be repaid before a junior loan.
An entity used to pool mortgage loans and issue The interest rate is usually higher than for a
mortgage-backed securities senior loan.
An organization that manages income-producing The interest rate is usually lower than for a senior
real estate properties. loan. - ANSWER -The interest rate is
usually higher than for a senior loan.
An organization with many investors who jointly
participate in a real estate investment -
ANSWER -An entity used to pool mortgage Duncan is a real estate licensee. Which Georgia
loans and issue mortgage-backed securities entity is responsible for adopting rules and
regulations to enforce license law regarding
Duncan's activities?
Radon has natural origins and is a colorless,
odorless, radioactive gas that's released when Georgia General Assembly
,The CE Shop :Final Exam Georgia Questions and Answers Rated A
Georgia Real Estate Commission Lender
The Real Estate Commissioner Seller - ANSWER -Buyer
The real estate department - ANSWER -
Georgia Real Estate Commission The cost approach to finding an appraised value
measures _______.
How long can a broker wait after non-payment of The cost to acquire a property only
a commission to record a lien against a
commercial property? The cost to acquire land and construct a
reproduction
30 days
The cost to construct a reproduction only
90 days
The expenses the property is expected to
One week produce for the owner - ANSWER -The cost
to acquire land and construct a reproduction
One year - ANSWER -90 days
How should a licensee respond to a client who
Ed Smith is a sole proprietor using the trade asks to be shown property based on the racial
name "Ed Knows Real Estate." Under what makeup of neighborhoods?
name may Ed legally conduct business?
"I'll do my best, but just to make sure it doesn't
"Ed Knows Real Estate, DBA Ed Smith" look suspicious, we'll need to include at least one
showing in a different neighborhood."
"Ed" or "Ed Smith" only
"I'm sorry that you feel that way. I am obligated to
"Ed Smith, DBA 'Ed Knows Real Estate'" obey the requests of my clients, but I'm going to
need you to write up your request and sign it, so
"Ed Smith" or "Ed Knows Real Estate" - there's no way I can get in trouble for fair housing
ANSWER -"Ed Smith, DBA 'Ed Knows Real violations."
Estate'"
"I'm sorry that you feel that way. If I can't change
your mind, I think we should terminate our
Jeremy has just finished completing his loan agreement, and you can look for another real
application and has gathered supporting estate professional."
documentation needed to determine whether the
application will be approved. Which of these titles "Let's keep this off the record. We just need to
best describes who Jeremy is? make sure it all looks legitimate from the outside."
- ANSWER -"I'm sorry that you feel that
Buyer way. If I can't change your mind, I think we
should terminate our agreement, and you can
Closing attorney look for another real estate professional."
, The CE Shop :Final Exam Georgia Questions and Answers Rated A
Physical deterioration - ANSWER -
Functional obsolescence
What's a benchmark?
A permanent reference point for marking datums Broker Alex learns that his friend Joann is
frustrated with the broker who listed her home.
The beginning point for lot and block surveys Alex encourages Joann to break her existing
agency agreement and sign with him instead.
The beginning point for metes and bounds This violation is an example of ______.
surveys
Contractual interference
The beginning point for rectangular surveys -
ANSWER -A permanent reference point for Failure to disclose an agency relationship
marking datums
Making a substantial and willful
misrepresentation
Marcy listed her property with Jennings Homes in
March. The market is slow, and Marcy's property Performing services that would qualify as practice
isn't in great condition, though she's sure she can of law - ANSWER -Contractual interference
get top dollar for it because of its location. Her
agent encourages her to either reduce the price
or fix the property up, but she refuses. Both A property that's been converted to natural gas
Marcy and her agent are frustrated. What's the may actually have which issue?
best option for both of them?
A decrease in value
Bring in another agent to help price the property.
An undiscovered oil tank
Let the listing expire.
Increased fuel bills
One party or the other should terminate the
listing. Remodeling problems - ANSWER -An
undiscovered oil tank
They can mutually agree to terminate the listing.
- ANSWER -They can mutually agree to
terminate the listing. Which of the following responsibilities does the
commercial property manager have that the
residential property manager doesn't have?
Which type of depreciation is a loss in value due
to defects in a structure's design? Evict tenants who fail to comply with the terms
and conditions of the lease agreement
Curable obsolescence
Negotiate leases
External obsolescence
Oversee the maintenance of buildings on the
Functional obsolescence property
