The Georgia Real Estate Commission is composed of: 

A. Six members each of whom is appointed by the secretary of state and confirmed by the senate for a term of four years.

B. Five members each of whom is appointed by the governor and confirmed by the senate for a term of six years.

C. Six members each of whom is appointed by the governor and confirmed by the senate for a term of five years.

D. Five members each of whom is appointed by the secretary of state and confirmed by the governor for a term of six years.

When a member of the Georgia Real Estate Commission vacates before the full term is served, the member is succeeded by a properly appointed person who shall serve for:

A. a period of time determined solely by a vote of the Georgia Real Estate Commission that is based upon when the vacancy occurred.

B. less than the unexpired term of the member creating the vacancy.

C. the unexpired term of the member creating the vacancy.

D. five years, because all successors are appointed for this term.

All members of the Georgia Real Estate Commission: 

A. must place their license on inactive status while serving. B. must have been actively licensed for at least five years. C. are appointed for a term of five years.

D. must have been residents of Georgia at least three years

Which of the following is a function of the Georgia Real Estate Commission? 

A. To interpret particular laws and rules concerning real estate transactions.

B. To ensure professional competency among real estate licensees.

C. To establish a reasonable fee structure that licensees can charge the public for real estate services.

D. To settle legal disputes between real estate licensees

Under the Georgia real estate license law, the Real Estate Commissioner is:

A. a member of the Georgia Real Estate Commission.

B. a full-time employee of the Georgia Real Estate Commission.

C. an active licensed real estate broker. D. appointed by the Governor

The license fees paid to the Georgia Real Estate Commission are established by:

A. the Senate

B. the Governor.

C. the Real Estate Commissioner.

D. the Real Estate Commission.

At its regularly scheduled first monthly meeting of the calendar year, the Commission shall select from its members by secret ballot:

A. a Chairperson and Vice Chairperson.

B. only a Chairperson.

C. only a Vice Chairperson.

D. a Real Estate Commissioner

Fees authorized under the Georgia real estate license law are established and allocated by the: 

A. Real Estate Commission.

B. Real Estate Commissioner.

C. active real estate brokers.

D. office of the Secretary of State

The Georgia Real Estate Commission is: 

A. a private corporation regulated by the state.

B. a budget unit of Georgia assigned to the office of the Secretary of State.

C. a brokerage company.

D. regulated by the Real Estate Commissioner.

Rules passed by the Real Estate Commission: 

A. are contained in the License Law.

B. regulate the Commission staff.

C. must be consistent with the provisions of the license law. D. are effective only until the next legislative session

The Georgia Real Estate Commission shall be composed of:  A. Five members, all real estate licensed.

B. Five members, none real estate licensed.

C. Six members, all real estate licensed.

D. Six members, five real estate licensed and one with no real estate connection

The license law gives the Commission the power to: 

A. set all commissions.

B. revoke or suspend licenses.

C. change the license law.

D. fine licensees up to $1,000 or send them to jail for one year

The real estate license of the Real Estate Commissioner and all other employees of the Commission who are licensed by the Commission shall be:

A. on active status during their employment with the Commission.

B. on inactive status during their employment with the Commission.

C. terminated when employed by the Commission.

D. surrendered to the Commission

Which of the following persons would the Georgia Real Estate License Law apply to? 

A. An attorney in fact under a duly executed power of attorney to convey real estate from the owner or lessor.

B. A licensed practicing attorney acting solely as an incident to the practice of law.

C. An individual employed by a broker to manage residential property on behalf of the broker under a written management agreement which the broker procured from the owner.

D. A real estate licensee employed on a full-time basis by the owner of the property for the purpose of leasing such property

In procuring prospects for the sale of real estate, which of the following persons would require a real estate license?

A. A person acting with authority as a guardian or trustee. B. Any officer or employee of a government agency in the conduct of official duties.

C. Any person acting as a referral agent who does not receive a fee for such referral.

D. A person licensed as an auctioneer, auctioning the sale of real property

Does the owner of residential real property need a real estate license to sell, rent or manage the property?

A. Yes, this would be considered practicing real estate.

B. Yes, if the owner owned more than one property.

C. No, the license law would not apply.

D. No, residential real estate is exempt from the real estate license law

Which of the following parties would be exempt from the real estate license requirements? 

A. An auctioneer selling property at an auction for another party for compensation.

B. A forester selling a parcel of timberland for another party for compensation.

C. A person promoting the sale of real estate through listing in a publication and receiving a listing fee.

D. An attorney in fact under a duly executed power of attorney to convey real estate from an owner or lessor.

Would a person who brokers the sale of a business that involves the transfer of an interest in real property require a real estate license?

A. No, a business broker can deal in real property.

B. No, the sale of a business cannot include real property. C. Yes, if the sale of the business involves the transfer of any interest in real property.

D. Yes, even if the sale of business does not involve a

n interest in real property.

A licensee has an assistant and has delegated activities such as prospecting, holding open houses and other duties not directly involved in drafting a listing or sales contract. Does this assistant have to have a real estate license?

A. No, as long as the assistant does not draft listings or contracts.

B. No, only the person for whom the assistant is working needs to be licensed.

C. Yes, conducting such activities would require a license. D. Yes, every person working for a licensed person must be licensed.

Which of the following is exempt from the licensing requirements? 

A. Attorneys who solicit property for sale.

B. Elected officials who deal in real estate in their county of residence.

C. An attorney in fact acting on the owner’s behalf .

D. Relatives of the owner

Before an applicant can take the broker’s real estate examination they must provide evidence of completion of an approved broker’s course and have been: 

A. licensed at least 3 years.

B. actively licensed at least three of the five years immediately preceding such examination.

C. a resident of Georgia at least 2 years.

D. a resident of Georgia at least 3 years.

An applicant for a salesperson's license in Georgia must: 

A. have attained the age of 21 years.

B. furnish evidence of completion of 60 hours of instruction in a course approved by the Commission.

C. be a citizen of the United States.

D. be a high school graduate or the holder of a certificate of equivalency

Which of the following persons exhibit one of the requirements necessary for an applicant to qualify for a salespersons license?

A. The applicant is seventeen years old.

B. The applicant has completed at least 60 hours of instruction in a salesperson’s course approved by the Commission.

C. The applicant has completed the tenth grade.

D. The applicant holds a certificate of equivalency.

In order to qualify for a broker or associate broker’s license, an applicant must: 

A. be a U.S. citizen.

B. be a resident of the State of Georgia.

C. have attained the age of 21 years and have served actively for two years as a licensee.

D. have attained the age of 21 years and have served actively for at least three years of the five years immediately preceding application.

In order to qualify for a Community Association Manager’s license, an applicant must complete an approved course of study of at least: 

A. 25 hours.

B. 60 hours.

C. 75 hours.

D. 90 hours

In order to receive a Georgia Salesperson’s License you must: 

A. be at least 21 years of age.

B. be a high school graduate.

C. be a US citizen.

D. pass the state exam

In Georgia, a corporation licensed as a salesperson can have how many licensees?

A. One.

B. Two.

C. Three.

D. No limit

An applicant for licensure with a criminal conviction shall be required to disclose the conviction to the Georgia Real Commission when:

A. making application for enrollment in prelicensing course. B. making application to sit for the state licensing examination.

C. making application for licensure.

D. making application to change license status from active to inactive.

A salesperson shall not commence work in real estate brokerage activities until: 

A. they complete the educational requirements.

B. the application is approved by the Commission.

C. the broker has received the licensee’s wall certificate of licensure.

D. they pass the salesperson’s real estate examination

The original license of a salesperson shall be delivered or mailed to:

A. the Real Estate Education Research and Recovery Fund. B. the salesperson to hold.

C. the salesperson’s broker for delivery to the salesperson. D. the real estate broker for whom the licensee is acting and shall be kept in the custody of such broker

In Georgia any person acting as a real estate licensee without a license shall be guilty of:

A. a misdemeanor.

B. a felony.

C. misrepresentation.

D. fraud.

An applicant for a real estate license shall pay an activation fee and a renewal fee which shall cover fees due the Commission for a period of: 

A. one year

B. two years.

C. four years.

D. ten years. 

Applicants for licensure who have successfully passed the state examinations must make application for licensure within what period of time or must retake the examination? A. within three (3) months from the examination date.

B. within six (6) months from the examination date.

C. within nine (9) months of the examination date.

D. within twelve (12) months of the examination date

Which of the following statements concerning license fees is correct? 

A. The fees are established by the Secretary of State.

B. Brokers are responsible for filing all license fees.

C. Each applicant for licensure shall pay an activation fee in advance.

D. All fees are deposited into the real estate education, research and recovery fund

Georgia real estate licensing fees are set by the:

A. Real Estate Commission.

B. Secretary of State.

C. State Legislature.

D. Governor

Any person who has successfully passed the salesperson’s licensing examination must make application for a license within what period of time, or must pay a fee equal to twice the amount of the original application fee? 

A. Within three (3) months from the date the person completed the educational requirements.

B. With in one (1) year from the date the person completed the educational requirements.

C. Within three (3) months from the date the examination was taken.

D. Within one (1) year from the date the examination was taken.

Can an active Georgia real estate salesperson be licensed under more than one Georgia broker during the same period of time?

A. Yes, provided they have an affiliation agreement with each broker.

B. Yes, if authorized by the Commission.

C. No, a salesperson can only be licensed under one Georgia broker at a time.

D. No, dual agency is not legal in Georgia

Upon being issued an original salesperson's license, each salesperson shall be required to furnish to the commission, within one year of the issuance of a license, evidence of satisfactory completion of a course of study approved by the commission. Which of the following courses would meet this requirement?

A. A 6 hour course

B. A 12 hour course

C. A 24 hour course

D. A 30 hour course

A salesperson has enrolled in a 25 in-class hours approved course two weeks prior to the one year issuance of their original license. Due to a medical emergency the licensee is unable to complete the course within the one year required time period and their license lapses. Can the licensee reinstate the lapsed license?

A. No, the licensee would have to start as an original applicant.

B. No, the 25 hours must be completed within the first year of licensure.

C. Yes, if they complete the course within six months of the lapsing of the license.

D. Yes, by passing a new state licensing examination and completing the 25 in-class hours of instruction approved by the Commission

Which of the following statements is correct about a salesperson whose license is on inactive status?

A. The salesperson may perform real estate brokerage activity for an unlicensed person.

B. The salesperson is not required to pay renewal fees while on inactive status.

C. The salesperson can perform real estate brokerage activity on real estate owned solely by the inactive salesperson.

D. A salesperson who puts their original license on inactive status is not required to complete the postlicense education

If a licensee on inactive status changes address, the licensee shall notify the Commission of the new address, in writing, within: 

A. 7 days.

B. 10 days.

C. 30 days.

D. 60 days.

Broker licensees must notify the Commission in writing of a change in address, the opening or closing of a trust account, or leaving a firm to go on inactive status within:

A. 7 days.

B. 10 days.

C. 30 days.

D. 60 days. 

Every licensee shall notify the Commission, in writing, of the final disposition of any administrative and/or criminal action filed in any court of competent jurisdiction. Such notice shall be given to the Commission: 

A. 7 days.

B. 10 days.

C. 30 days.

D. 60 days.

Unless renewal fees are paid before the renewal date, a licensee’s individual license will expire on: 

A. January 1 of the next year.

B. the licensee’s birthday.

C. the issue date of the license.

D. on the last day of the month of the licensee’s birthday

A licensed salesperson wishes to perform real estate brokerage services as a full time employee of an unlicensed developer. In order to provide brokerage services to such an unlicensed party, the licensee must: 

A. put their license on inactive status.

B. notify their broker in writing as to their intent and obtain written approval from their broker.

C. work through a listing agreement established between the salesperson and unlicensed developer.

D. surrender their license entirely before beginning work for the unlicensed party under an exception of the license law

D. surrender their license entirely before beginning work for the unlicensed party under an exception of the license law

When salespersons sell their own property, they:

A. must always deposit the earnest money into their broker’s trust account.

B. may deposit the earnest money into their own trust account, as long as it is approved by their broker and properly registered with the Commission.

C. need not deposit earnest money into a trust account, if their license is on active status.

D. can deposit earnest money into their personal account

Can an inactive real estate licensee perform real estate services when employed by an unlicensed owner?

A. No, only active agents can perform real estate services. B. No, not unless given special permission by the Real Estate Commission.

C. Yes, but only because of the employer/employee relationship.

D. Yes, but only if the license is surrendered

An actively licensed real estate salesperson is selling his/her home without his/her company being involved. All of the following statements are true EXCEPT: 

A. the licensee’s broker must be informed.

B. the salesperson can deposit earnest money in his/her own personal account.

C. ads run must disclose that the owner is a licensee.

D. a sales contract must contain a disclosure that the seller is a licensee

B. the salesperson can deposit earnest money in his/her own personal account. 

**deposits must be made to a trust account

An actively licensed salesperson plans to purchase a piece of property he has listed for sale. Before presenting the offer, he must:

A. disclose to the seller the purpose for which the property is being purchased.

B. furnish his broker with written notice of his intent to purchase the property so that no commission will be paid. C. furnish his broker with written notice of his intent to purchase and state in the contract that he is a licensed real estate salesperson.

D. provide the Commission with a copy of the sales contract so the seller’s rights will be protected

A licensee who denies equal service to anyone because of race, color, religion, sex, national origin, familial status, or handicap has violated? 

A. The license law.

B. The Georgia Fair Housing Law.

C. The Federal Fair Housing Law.

D. All of the answers are correct.

A broker shall not be entitled to any part of the earnest money or other money paid to him/her in connection with any real estate transaction as part or all of his/her commission until the transaction has been:

A. consummated or terminated.

B. inactivated.

C. approved.

D. cemented.

If a licensee does not renew his/her license within the time period required by law:

A. he/she must reapply as an original applicant.

B. he/she may renew with one year of the date of its lapsing by paying a reinstatement fee.

C. he/she may renew within two years of the date of its lapsing by paying a reinstatement fee.

D. he/she may renew within two years of the date of its lapsing by paying all renewal fees and late charges which would have been due, plus a reinstatement fee

Which of the following statements concerning a broker’s trust account is true? 

A. A broker is never entitled to any portion of an earnest money deposit.

B. Any bank may be used for a trust account.

C. Violations of trust account provisions may result in an action by the Attorney General to impound such an account.

D. All trust accounts must pay interest

A licensee has placed his/her license on inactive status. Which of the following statements is correct? 

A. The licensee must reactivate within five (5) years.

B. The licensee shall not be required to pay renewal fees.

C. The licensee may engage in real estate brokerage business in connection with property owned by the licensee. D. The licensee shall notify the Commission of a change of address, in writing, within ninety (90) days

Which of the following must a licensee ALWAYS do when advertising their own property for sale?

A. Notify the Georgia Real Estate Commission of the specific property to be advertised.

B. Advertise in the name of a broker.

C. Include the legend “Seller holds a real estate license.”

D. Have a broker’s written consent to advertise the property

A broker was found guilty of commingling. The real estate Commission shall have the power to: 

A. impose a fine not to exceed $1,000.

B. impose a fine not to exceed $5,000.

C. imprison the licensee up to one year.

D. imprison the licensee up to five years.

Which of the following is NOT a legitimate reason for a broker or sales associate to refuse a listing? 

A. The seller states an unreasonable list price for the property.

B. The property is not in the firm’s geographical service area.

C. The property type is not handled by the firm.

D. The owner’s minority status would make the property difficult to sell. 

In Georgia, a broker must deposit the earnest money in a separate trust or escrow account established for that purpose, unless:

A. the amount is less than $500.

B. all parties involved have agreed otherwise in writing.

C. the broker has established a policy for holding the earnest money.

D. the seller has requested that the money be deposited in his or her account.

“For Sale” signs must be moved from the property no later than:

A. the day of the expiration of the listing.

B. ten days after the expiration of the listing.

C. thirty days after the expiration of the listing.

D. a reasonable time after the expiration of the listing

A real estate licensee pays a $50 referral fee to an unlicensed person for securing potential buyers. Is this action permissible under the license law? 

A. Yes, referral fees can be paid by real estate licensees to unlicensed persons.

B. No, this action is a violation of the license law.

C. Yes, provided the fee does not exceed $25.

D. No, licensees cannot pay referral fees.

A licensee induces a seller to break an existing contract for the purpose of accepting a subsequent offer with terms more favorable to the seller. The licensee’s action was: 

A. correct and the second offer would be considered a back-up offer.

B. a violation of the license law.

C. correct, as it is the licensee’s duty to obtain the best terms for the seller.

D. correct and enabled the seller to obtain better terms in the sale of his or her house

If the purchaser is paying a substantial amount of earnest money, and particularly if the closing is several months later, it would be practical to place the funds in an interest bearing account. It is permissible to do so as long:

A. all parties having an interest in the fund agree to this procedure in writing.

B. the interest is paid to the seller at closing.

C. the funds do not exceed $10,000.

D. the broker has given you written permission.

The real estate licensee does a competitive market analysis for a seller to recommend a listing price for the real estate. Upon completion of the estimate, the agent meets with the prospective seller and refers to the estimate as an appraisal and suggests the property be listed at the appraised value. In this situation, was the licensee's actions correct?

A. Yes, a market analysis should be given to the seller before listing the property.

B. Yes, the appraisal will help the seller know the value of the property.

C. No, the licensee should not have referred to the estimate as an appraisal.

D. No, licensees cannot give opinions regarding the pricing of property. 

A licensee would subject his/her license to sanction by the Commission for all of the following EXCEPT:

A. failing to leave a copy of the listing agreement with the seller.

B. accepting compensation from the employing broker.

C. placing a “For Sale” sign on property without the written consent of the owner.

D. failing to disclose licensure when acting as a principal

A broker may collect a commission from both the seller and the purchaser, if: 

A. the total commission does not exceed the usury limit.

B. both the seller and purchaser agree in writing.

C. the Real Estate Commission is notified.

D. the seller gives his/her written permission.

The Commission requires:

A. all exclusive listings must be in writing.

B. all gross listings must be in writing.

C. all open listings must be in writing.

D. all listings must be in writing

Which of the following is considered to be an “unfair practice’” of the license law?

A. Maintaining more than one trust account.

B. Acting as a real estate broker or salesperson without a license.

C. Offering free gifts to influence prospective buyers.

D. Failing to give copies of the closing statement to clients at the closing.

Earnest money checks received by a salesperson: 

A. should be held by the salesperson, until the offer is accepted.

B. should be turned over to the broker the next business day.

C. should be placed in the broker’s custody, as soon after receipt as is practicably possible.

D. may never be shown to the seller while presenting the offer.

Salesperson Wilson shows a prospective purchaser a home on Wednesday afternoon. That evening Wilson obtains an offer and an earnest money deposit. The offer is to remain effective until Saturday at 6:00PM, but it is accepted Friday. When should Wilson turn over the earnest money to the broker?

A. Probably Thursday.

B. Probably Friday.

C. Probably Saturday.

D. Probably Monday.

When a licensed broker closes a real estate transaction, the broker must retain a copy of the closing statement for:

A. one year.

B. three years.

C. seven years.

D. forever

Which of the following statements is correct concerning the surrender or revocation of a licensee’s license? 

A. Any unused fees will be refunded.

B. The licensee shall forward the licensee’s wall certificate and pocket card at once to the Commission.

C. The licensee can seek reinstatement by paying any unpaid fees.

D. The licensee will be unable to seek reinstatement.

Upon surrendering a license, notice of suspension or revocation of licensure, which of the following statements is INCORRECT?

A. A licensee shall forward the licensee’s wall certificate of licensure and pocket card at once to the Commission.

B. If the license is that of a broker, the broker shall also forward all other licensee’s wall certificates and pocket cards in the broker’s possession to the Commission.

C. A licensee who surrenders a license or whose license is revoked may later seek reinstatement by applying as an original applicant.

D. The Commission shall refund the unused portion of any fees to the licensee.

Any person who has exhausted all administrative remedies available within the license law and who is aggrieved by a final decision in a contested case is entitled to:

A. a refund of the unused portion of their fee.

B. a judicial review in accordance with the Georgia Administrative Procedures Act.

C. a hearing before the Georgia Real Estate Commission.

D. appeal the case to the Real Estate Commissioner.

Whenever the Commission suspends a license for more than 60 days, and after the filing of a notice of hearing, the Commission may: 

A. schedule the suspended licensee for 40 hours of post licensing training.

B. publish the name of such licensee in its official newsletter.

C. publish the name of such licensee in the local newspaper. D. notify the State Board of Realtors of such action

The Georgia Real Estate Commission must investigate the actions of a license when: 

A. they receive a sworn written request for investigation of a licensee concerning acts that occurred within the last five years.

B. disputes occur between licenses and their broker.

C. they receive a sworn written request for investigation of a licensee concerning acts that occurred within the last three years.

D. they receive phone complaints about any licensee’s real estate activities.

When dealing with a complaint which of the following would the Georgia Real Estate Commission do first? 

A. Conduct a hearing.

B. Conduct an authorized investigation.

C. Report to the Attorney General.

D. Take disciplinary action

Before suspending or revoking a license, the Commission shall: 

A. provide a hearing for the licensee.

B. get permission from the Attorney General.

C. refund the licensee’s Recovery Fund Deposit.

D. inform the Governor.

Which of the following would be a requirement of a claimant in order to collect damages from the Education, Research and Recovery Fund?

A. He or she is a licensee.

B. He or she is the spouse of a licensee.

C. He or she received a valid judgment from a court of competent jurisdiction.

D. He or she started the action for judgment within three years of the violation.

The liability of the Real Estate Education, Research and Recovery Fund for the acts of a licensee is terminated upon the payments from the fund in an aggregate amount of: 

A. $5,000.

B. $15,000.

C. $75,000.

D. $1,000,000

The liability of the Education, Research and Recovery Fund is terminated upon the issuance of court orders authorizing payments in what amount in any single transaction, regardless of the number of people aggrieved? 

A. $25,000.

B. $20,000.

C. $45,000.

D. No limit.