ARE YOU READY?
LET’S PRACTICE!
#1. Which of the following actions is legal under Georgia law?
#2. A broker must keep transaction records for how long in Georgia?
#3. A deed becomes valid when it is:
#4. Which of the following describes police power?
#5. Who is responsible for determining the commission rate?
#6. The Statute of Frauds requires certain contracts to be:
#7. What kind of listing allows a seller to find their own buyer and avoid paying commission?
#8. Which is a physical characteristic of land?
#9. A person named to carry out the terms of a will is a(n):
#10. What is the purpose of a deed?
#11. The right to use water from a stream is called:
#12. What must a licensee disclose to all parties?
#13. Who holds title in a lien theory state like Georgia?
#14. A licensee must disclose their licensed status when:
#15. What is the purpose of earnest money?
#16. A broker can be disciplined for:
#17. The main purpose of a home inspection is to:
#18. What is the first step in the appraisal process?
#19. A mortgage loan originator must be licensed by:
#20. What does ‘time is of the essence’ mean?
#21. What happens when a listing expires?
#22. A listing broker who also finds the buyer may become a:
#23. A tenancy at will may be terminated by:
#24. Which of the following is NOT required for valid contract?
#26. Who regulates real estate advertising in Georgia?
#27. What is a net lease?
#28. Who pays documentary stamp tax in Georgia?
#29. What is a platted subdivision?
#30. Which of the following is NOT a unilateral contract?
#31. How long is a typical buyer representation agreement valid?
#32. What is the difference between a license and a permit?
#33. Which of the following violates fair housing?
#34. What does ‘commingling’ involve?
#35. Georgia law prohibits licensees from sharing fees with:
#36. If a licensee violates license law, the Commission may:
#37. Who pays the broker in most Georgia transactions?
#38. Which of the following best defines market value?
#39. The FHA primarily insures:
#40. A lien that affects all property of the debtor is:
#41. The term ‘hypothecation’ means:
#42. What does the GREC Recovery Fund do?
#43. Which of the following is an example of functional obsolescence?
#44. What is a CMA used for?
#45. The rule that legal contracts must be in writing is from:
#46. What is required for mutual assent?
#47. If the seller does not accept the offer as written:
#48. A fiduciary duty that survives after closing is:
