GA REAL ESTATE FINAL EXAM Questions and Correct Answers | Latest Update
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Course
GA REAL ESTATE
Institution
GA REAL ESTATE
Anti-Trust
An area of law concerned with maintaining competition in private markets
by prohibiting any restraint on trade.
Georgia Real Estate Commission
Pass rules and regulations that govern real estate licensees
Comprehensive Environmental Response, Compensation, and Liability Act ...
A real estate anti-trust law focused on price fixing and collusion between
brokers
Homestead Exemption
refers to a property tax reduction available to a homeowner/occupant
who files for the deduction within the tax jurisdiction's specified time limit.
Georgia Fair Housing
Law that guards against a licensee, either by direct response or by
implication, suggesting that information regarding protected classes is ever
used by a broker or salesperson to search for property or to evaluate the
demographics of an area.
License law in Georgia requires brokers to deposit transactional funds into a trust account:
Promptly unless the contract states otherwise
A real estate license would automatically be revoked under which of the following
circumstances?
Once any money is paid out from the Recovery Fund as the result of a
licensee's actions, the real estate license will be AUTOMATICALLY revoked.
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, Best Grades | Must Pass | Latest Update | Correct Answers | 2024/ 2025
All Georgia real estate offices must:
License law requires brokers to keep transactional records for at least
three years
The statute of frauds...
must be in writing to avoid fraud and misunderstanding.
Regarding trust accounts and real estate brokerage offices in Georgia, all of the following
statements are true EXCEPT:
Only brokerage offices that choose to handle trust funds need open these
accounts.
As an inducement to acquire listings, a broker advertises that he will buy any property he lists
if that property does not sell in 120 days. Would this type of promise be a violation of license
law in Georgia?
The plan is not a violation of real estat e law in Georgia as long as two
contracts are created at the same time: one, a purchase and sale
commitment from the broker for a specific price on a specific date; and
two, a listing contract between seller and broker.
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