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LET’S PRACTICE!
#1. In Georgia, how long must trust account records be retained?
#2. A licensee must present all written offers:
#3. A salesperson’s license in Georgia must be renewed:
#4. The penalty for practicing real estate without a license in Georgia includes:
#5. An exclusive right to sell listing guarantees the broker:
#6. A deed restriction is enforced by:
#7. The term ‘under contract’ means:
#8. The primary purpose of RESPA is to:
#9. A real estate license is issued by:
#10. A contract must include which of the following to be enforceable?
#11. In Georgia, which of the following must be included in a written listing agreement?
#12. What type of agency is created by written agreement between broker and client?
#13. A voidable contract is one that:
#14. A minor signing a contract results in:
#15. If a seller backs out after accepting an offer, the buyer can seek:
#16. A licensee must notify GREC of an address change within:
#17. A deed must be signed by the:
#18. Which best describes tenancy at sufferance?
#19. How is a metes and bounds legal description measured?
#20. The income approach is based on:
#21. An appraisal is usually required when:
#22. An easement created by long-term, open, and hostile use is:
#23. A promissory note is:
#24. The right of redemption allows a homeowner to:
#25. A lease-option gives the tenant:
#26. Which of the following is not a requirement for a valid Georgia contract?
#27. Zoning laws are an example of:
#28. The Georgia Time-Share Act applies to:
#29. What is a key difference between freehold and leasehold estates?
#30. A seller disclosure is required to be:
#31. Which agency regulates real estate ads for discrimination?
#32. Which property would most likely be appraised using the cost approach?
#33. What does a ‘cloud on title’ refer to?
#34. Which clause in a mortgage allows partial releases of property?
#35. What is the purpose of the Fair Credit Reporting Act?
#36. A seller wants to net $200,000 after paying 5% commission. What should the sales price be?
#37. What does a notary do in a closing?
#38. Which term refers to the gradual loss of land due to water?
#39. What is a kickback under RESPA?
#40. Which law limits telemarketing calls to consumers on the Do Not Call Registry?
#41. Which item is typically a debit to the buyer at closing?
#42. A broker acting as a dual agent must have:
#43. The cost to replace a building with equal utility using modern methods is:
#44. When a buyer finances part of the purchase through the seller, it’s called:
#45. If a licensee is named in a lawsuit, they must notify the Commission:
