ARE YOU READY?
LET’S PRACTICE!
#1. Which type of listing allows the seller to work with multiple brokers and pay only the one who sells it?
#2. An unlicensed person who refers a buyer and receives a fee is:
#3. Which of the following is personal property?
#4. Which of the following activities is considered practicing real estate and requires a license?
#5. A real estate salesperson can be paid only by:
#6. The legal doctrine that gives the government the power to take private property for public use is:
#7. A recorded subdivision plat is used in which type of legal description?
#8. A property’s market value is best defined as:
#9. The term ‘agent’ in real estate refers to:
#10. The main purpose of the Georgia Real Estate Commission is to:
#11. Which type of deed provides the most protection to the buyer?
#12. Which of the following is NOT considered an encumbrance?
#13. The acceleration clause in a mortgage allows the lender to:
#14. When a licensee acts for one party and helps the other, it’s called:
#15. What type of insurance protects a lender from title defects?
#16. What is the purpose of a home warranty?
#17. A property tax is what kind of lien?
#18. Which of the following best describes a bilateral contract?
#19. What kind of estate lasts for a definite period of time?
#20. Who is responsible for disclosing lead-based paint hazards?
#21. An escrow account is used to:
#22. Which of the following must be in writing to be enforceable?
#23. How long must a Georgia broker retain records of transactions?
#24. What is the function of a property manager?
#25. A fiduciary duty that continues after the agency ends is:
#26. How are real estate taxes typically paid in Georgia?
#27. Which is NOT an element of fraud?
#28. To be valid, a deed must include all EXCEPT:
#29. What is a tenancy in common?
#30. The difference between market value and loan balance is:
#31. An alienation clause allows the lender to:
#32. The most typical method for appraising residential property is:
#33. Which law prohibits price fixing in real estate?
#34. Who must sign a deed to make it valid?
#35. A person licensed in another state may get a Georgia license by:
#36. If a licensee wants to leave their broker, they must:
#37. What happens when a licensee misrepresents material facts?
#38. Georgia’s license law is enforced by:
#39. A title search looks for:
#40. The bundle of rights includes all EXCEPT:
#41. What type of ownership exists between married couples in Georgia?
#42. When does ownership transfer in a real estate transaction?
#43. A comparative market analysis (CMA) is prepared by:
#44. Which of the following violates antitrust laws?
#45. Which of these is considered involuntary alienation?
#46. When a property is sold ‘as is’, the seller must still:
#47. The income approach formula is:
#48. What happens if the broker dies?
