Final Exam-Colibri Real Estate Exam
Questions and Answers Graded A+
1. All six members of the Georgia Real Estate Commission are appointed by -
Correct answer-The Governor of Georgia
How many commission members must be licensed - Correct answer-Five of the six
members of the Georgia Real Estate can have licenses One must be an unlicensed
member of the " general public 3. EARLNOTES
What must happen with all funds in a sale - Correct answer-All money that belongs
to clients or customers must be deposited in the brokerage trust fund as soon as
possible ASAP after receipt .
What is the procedure for license expiration - Correct answer-When a license has
been lapsed for more than two years but less than five years the former licensee
may request reinstatement and retake a 75 - hour pre - license course . After ten
years the former licensee must follow the procedure for new applicants .
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,Which descrihes dual agency - Correct answer-When a broker appoints one of his
agents to serve the seller and one to serve the buyer , they are called designated
agents and the broker will serve as a dual agent .
What happens when someone recieves mistreatment from a real estate licensee -
Correct answer-When a consumer or client ( not another licensee or a relative of
the accused licensee ) is financially damaged by the actions of a licensee , he or she
can file , through the court a claim against the Georgia Real Estate Education ,
Research and Recovery Fund for reimbursement up to $ 25,000 per transaction .
For a brokerage or any licensee under a managing broker to be considered a Dual
Agent , he / she must - Correct answer-obtain written permission from both the
seller and the buyer before acting on behalf of either party . BIRTH MONTHS
When are renewal deadlines for licensees - Correct answer-All renewal deadlines
for licenses are set for the last day of the licensee's birth month every four full
years . ( The licensee's first renewal period may be longer , depending on when the
license was obtained . It starts the last day of the birth month that arrives after the
license is obtained ) .
What is the training hours required for licensees - Correct answer-Assuming a
licensee has competed the 25 - hour GA Post License Course during the first year
of licensure ) , he will receive credit for 9 hours of Continuing education and will
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, only need to complete 27 hours of CE during the rest of the licensee's first
licensure period . For the second four - year period and each renewal thereafter .
the requirement is 36 hours of CE.
If a buyer client wishes to withdraw from a contract and get h his earnest money
returned the salesperson must - Correct answer-REFER the issue to the
EMPLOYING or managing BROKER for a decision
When every original license fee is received , of the funds received _____from each
license fee is allocated to fund the RE Education , Research and Recovery Fund -
Correct answer-20$
The clause in an agency agreement used to safeguard the broker from unscrupulous
buyers or sellers , who would take the broker's generated leads , but then buy or
sell the property once the listing agreement has expired in order to avoid paying
the commission to the licensee is known as - Correct answer-The Safety or
Carryover Extender Clause .
Under GA Law , a listing broker - Correct answer-does not have to share his sales
commission with the selling broker who has procured the ultimate buyer, this is
legal and not against GA real estate law.
©COPYRIGHT 2025, ALL RIGHTS RESERVED 3
Questions and Answers Graded A+
1. All six members of the Georgia Real Estate Commission are appointed by -
Correct answer-The Governor of Georgia
How many commission members must be licensed - Correct answer-Five of the six
members of the Georgia Real Estate can have licenses One must be an unlicensed
member of the " general public 3. EARLNOTES
What must happen with all funds in a sale - Correct answer-All money that belongs
to clients or customers must be deposited in the brokerage trust fund as soon as
possible ASAP after receipt .
What is the procedure for license expiration - Correct answer-When a license has
been lapsed for more than two years but less than five years the former licensee
may request reinstatement and retake a 75 - hour pre - license course . After ten
years the former licensee must follow the procedure for new applicants .
©COPYRIGHT 2025, ALL RIGHTS RESERVED 1
,Which descrihes dual agency - Correct answer-When a broker appoints one of his
agents to serve the seller and one to serve the buyer , they are called designated
agents and the broker will serve as a dual agent .
What happens when someone recieves mistreatment from a real estate licensee -
Correct answer-When a consumer or client ( not another licensee or a relative of
the accused licensee ) is financially damaged by the actions of a licensee , he or she
can file , through the court a claim against the Georgia Real Estate Education ,
Research and Recovery Fund for reimbursement up to $ 25,000 per transaction .
For a brokerage or any licensee under a managing broker to be considered a Dual
Agent , he / she must - Correct answer-obtain written permission from both the
seller and the buyer before acting on behalf of either party . BIRTH MONTHS
When are renewal deadlines for licensees - Correct answer-All renewal deadlines
for licenses are set for the last day of the licensee's birth month every four full
years . ( The licensee's first renewal period may be longer , depending on when the
license was obtained . It starts the last day of the birth month that arrives after the
license is obtained ) .
What is the training hours required for licensees - Correct answer-Assuming a
licensee has competed the 25 - hour GA Post License Course during the first year
of licensure ) , he will receive credit for 9 hours of Continuing education and will
©COPYRIGHT 2025, ALL RIGHTS RESERVED 2
, only need to complete 27 hours of CE during the rest of the licensee's first
licensure period . For the second four - year period and each renewal thereafter .
the requirement is 36 hours of CE.
If a buyer client wishes to withdraw from a contract and get h his earnest money
returned the salesperson must - Correct answer-REFER the issue to the
EMPLOYING or managing BROKER for a decision
When every original license fee is received , of the funds received _____from each
license fee is allocated to fund the RE Education , Research and Recovery Fund -
Correct answer-20$
The clause in an agency agreement used to safeguard the broker from unscrupulous
buyers or sellers , who would take the broker's generated leads , but then buy or
sell the property once the listing agreement has expired in order to avoid paying
the commission to the licensee is known as - Correct answer-The Safety or
Carryover Extender Clause .
Under GA Law , a listing broker - Correct answer-does not have to share his sales
commission with the selling broker who has procured the ultimate buyer, this is
legal and not against GA real estate law.
©COPYRIGHT 2025, ALL RIGHTS RESERVED 3
