Georgia Real Estate Exam Study Guide Complete Questions & Answers!!PACKAGE DEAL

How often *must* you take continuing education? - ANSWER *Every 4 years*. In Georgia, which of the following is *NOT* a cost or expense of owning a home? - ANSWER Taxes on *personal property*. A *Broker's*, license fee costs how much? - ANSWER *$170* All of the following, exist in Georgia ...

Personal property that, by its attachment to real property, is regarded as real estate is called: A. an emblements B. personalty C. a fixture D. an appliance - ANSWER C. a fixture What is the main purpose of police power? A. to protect the health, safety, and welfare of the community B....

Easement by prescription - ANSWER Easement acquired by continuous open and hostile use of the property for the period of time prescribed by state law Easement by necessity - ANSWER Easement allowed by law as necessary for the full enjoyment of parcel of real estate .(right of ingress and egress o...

What fines may be imposed by the Commission for rules violations? - ANSWER A maximum of $1,000 for a single offence or $5,000 for multiple violations Charging advance brokerage fees is - ANSWER a duty of a broker. Agency can best be described as - ANSWER a written representation agreement betw...

Property - ANSWER All property is divided into 2 categories Real Property and Personal Property Personal Property - ANSWER Chattels Real - Mobility Chattels Personal - ANSWER Such as cars, boats, furniture, clothes, stocks, money, tools etc are known as Chattels Real Real Estate - ANSWER Co...

Georgia Real Estate Commission size - ANSWER 6 members Georgia Real Estate Commission appointed by - ANSWER Governor of Georgia Georgia Real Estate Commission confirmed by - ANSWER Georgia state senate How long are each of the Georgia Real Estate Commission members' terms? - ANSWER 5 years...

Accrued interest on loan assumed. - ANSWER Which of the following costs is usually a credit on the estimated purchaser's cost worksheet? Hazard insurance is - ANSWER prepaid in advance negotiable between the buyer and seller - ANSWER The payment of the intangibles taxes are: If neither Bai...

The owner of an apartment building has just signed an agreement with a real estate firm. Has an agency been formed? - ANSWER Yes, because an agency is formed whenever one party delegates to another the right to act on his behalf in certain business transactions. A managing broker requires his lic...

When applying for a loan, what is a fixed rate? - ANSWER A loan that has a predetermined repayment interest rate What act prohibits discrimination based on race or color? - ANSWER Civil Right Acts Of 1866 What is the financial document that contains a written promise to fulfill a certain payme...

Which of the following are appointed by the governor? A. Members of the Georgia Real Estate Commission. B. The Real Estate Commissioner. C. Real estate instructors. D. Georgia Real Estate Commission employees. - ANSWER >> CORRECT ANSWER IS: A >> YOUR ANSWER IS: A Members of the Geo...

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) Failur...

How many commission members are there? Who are they appointed by? Who are they confirmed by? For how many terms - ANSWER 6 commission members total. Appointed by the governor. Confirmed by the Senate. All 5-year terms. What is the primary purpose of the Georgia Commission? - ANSWER 1) to develop ...