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Georgia Real Estate Exam: Unit 1 Exam 2024!!
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Georgia Real Estate Exam: Unit 1 Exam 2024!!
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Georgia Real Estate Exam: Unit 1Exam 2024!!
What fines may be imposed by the Commission for rules violation?
a) Suspension of license for first offense and $5000 plus required education
for a subsequent violation.
b) A maximum of $2000 for a minor offense up to $10,000 and a license
revocation major offenses.
c) A maximum of $1000 for a single offence or $5000 for multiple violations.
d) A warning for the first violation up to $8000 for multiple offenses. - -c) A
maximum of $1000 for a single offence or $5000 for multiple violations.
-Which of the following best describes a brokerage agreement?
a) A written compensatory agreement between broker and seller.
b) A written or verbal commission contract between a buyer and broker.
c) A compensation agreement between a broker and sales associate.
d) A fully executed sales contract drafted by the broker. - -a) A written
compensatory agreement between broker and seller.
-In the license law, a "person" is defined as
a) a designated licensee within the brokerage company.
b) only a single individual.
c) either a licensed individual or business.
d) either an individual or firm. - -d) either an individual or firm.
-One responsibility of a Commission member is to
a) comply with the legislature's hearing process.
b) evaluate staff operations.
c) enact license laws.
d) abide by the Realtors Code of Ethics. - -b) evaluate staff operations.
-Brokerage related activities not requiring the exercise of the licensee's own
judgement best describe
a) administerial acts.
b) clerical functions associated with a brokerage office.
c) ministerial acts.
d) implied operational acts. - -c) ministerial acts.
-The Georgia Real Estate Commission's authority involves
a) only taking disciplinary actions and adjudication.
b) establishing fees and issuing licenses.
c) regulating both real estate and appraiser licensees.
d) creating legislative bills associated with the real estate industry. - -b)
establishing fees and issuing licenses.
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