GA POST LICENSE STUDY GUIDE Exam Questions and Answers (Latest Update 2025), Exams of Nursing

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Questions and Answers (Latest Update

2025)

What is the mix of unlicensed and licensed member of the GA Real Estate Commission? - Correct Answer ✅5 licensed and 1 unlicensed. How are members of of GREC appointed? - Correct Answer ✅The governor. They are NOT appointed by the public. How many members of GREC are there? - Correct Answer ✅Six. What is the license exemption in GA for someone who operates a motel/hotel? - Correct Answer ✅You don't have to have a license as long as you do not have at least THREE suites available for long term lease. What is a condition that must be followed to qualify for the innkeeper's exemption? - Correct Answer ✅The security deposit must not exceed the cost of the rental required for the minimum rental period.

Questions and Answers (Latest Update

2025)

If a person is managing rental properties, when do they require a real estate license? - Correct Answer ✅If the property is leased and occupied for more than 90 days. True or false: If a person has failed to complete the GA post license requirement within ONE year, they can reinstate the lapsed license as long as they enroll in a post license course within two years of being licensed. - Correct Answer ✅False: If your license lapses due to failure to complete post licensing course, you have SIX MONTHS of the lapse to complete the course. In order to reinstate your license after lapsing due to failure to complete post license course, you must meet the following requirements: - Correct Answer ✅1. you were enrolled in a course in one year of original license 2. paid all required fees for the course 3. show proof of medical doctor's certificate OR proof the course was cancelled by the school

Questions and Answers (Latest Update

2025)

A GA licensee can move out of state and still practice RE in GA as long as what? - Correct Answer ✅They don't obtain a license in the new state. If a person with a previous assault conviction wants to apply for a license, what must happen? - Correct Answer ✅the Commission has the authority to grant the license as long as the conviction was more than 10 years before the application. Can a brokerage set a fixed commission rate? - Correct Answer ✅NO, All sales commissions are negotiable. The only "standard" is the licensee's brokerage policy. Brokerages who agree on amounts to charge are guilty of violating what? - Correct Answer ✅The Sherman Anti-Trust Act. If a licensee is convicted of embezzlement, will their license be suspended for 30 days? - Correct Answer ✅NO, the board can issue a reprimand, make periodic reports from an independent accountant, require attendance to an

Questions and Answers (Latest Update

2025)

educational program, or fine up to $1,000 for a single violation, and up to $5,000 for multiple violations. How can you get a discounted fee for renewing your license?

• Correct Answer ✅Renew your license on-line. How much will the Real Estate Education, Research, and Recovery Fund get when a real estate license school activates its original license? - Correct Answer ✅$20. How is money collected for the Recovery fund? - Correct Answer ✅License fees collected from licensees or from INCOME DERIVED FROM INVESTING THE FUNDS. Does the state treasury receive money from the Recovery fund? - Correct Answer ✅No money is given to the state treasury or received from the state treasury. When a licensee decides to leave a brokerage, what must the broker do in order to release the licensee? - Correct Answer

Questions and Answers (Latest Update

2025)

✅The broker must sign the former release form and send it to the Commission. To be an agent, what must a licensee have with their client? - Correct Answer ✅A written brokerage services agreement with that client. What must a licensee get in order to put a For Sale sign in someone's yard? - Correct Answer ✅Written permission from the property owner. What is a major difference between what a transaction broker and an agent can do for their client? - Correct Answer ✅the transaction broker CANNOT disclose confidential info, suggest an offer's price or terms, or participate in the negotiation process in any way other than carry the offers back and forth. When working as a dual agent, the agent CANNOT do the following: - Correct Answer ✅tell either side what the other may accept or may pay for the property and disclose the buyer's financial condition to the seller.

Questions and Answers (Latest Update

2025)

When working as a dual agent, the agent CAN do the following: - Correct Answer ✅Provide public information like market data to either party. Example a CMA Without a brokerage agreement, a licensee acting as a transaction broker can do what? - Correct Answer ✅Facilitate and assist but CANNOT offer a price or terms or otherwise to help a buyer negotiate. As a listing agent, you still have a duty to disclose what to prospective purchasers? - Correct Answer ✅Any material facts that may be a significant factor in the buyer's decision making. Once a contract has been accepted, is the agent required to seek additional offers (back-ups)? - Correct Answer ✅No, the agent may only seek back-up offers if the client's ask the agent to do so.

Questions and Answers (Latest Update

2025)

Can a landlord have an agency relationship with a tenant? - Correct Answer ✅No, a licensee can be an agent representing either a landlord or a tenant or both as a dual agent, but not between a landlord and tenant. Who does earnest money belong to? - Correct Answer ✅The buyer until (and sometimes after) closing. Where must Earnest money be deposited? - Correct Answer ✅a federally insured trust or escrow account upon receipt unless all parties have agreed otherwise in writing. Can a BUYER give written permission for a broker to disburse all or part of the earnest money as their commission allowed?

• Correct Answer ✅NO, the buyer cannot give earnest money as a part of the broker's commission. Both parties must sign a written agreement to allow the release of earnest money. Real estate documents like listings, buyer agency contracts, sales contracts, and settlement statements must be saved in

Questions and Answers (Latest Update

2025)

the brokerage files for at least three years, what does not have to be retained for three years? - Correct Answer ✅Applications for loans. What must a licensee get in order to put a For Sale sign at their listing? - Correct Answer ✅Written permission from the property owner. What kind of advertising DOES NOT have to be removed within 15 days of the expiration of the listing? - Correct Answer ✅Internet advertising (example, homes still showing For Sale on Zillow after selling months ago) When a licensee has an unlicensed support person with the broker's full knowledge and permission. However, the brokerage does NOT have to have what? - Correct Answer ✅A written policy on support personnel for agents. A personal assistant at a Real Estate Company doesn't need a license to perform many activities at the firm but is required

Questions and Answers (Latest Update

2025)

to have a license to do what? - Correct Answer ✅Explain simple contracts to prospective buyers. Are property manager and resident manager the same thing?

• Correct Answer ✅No, the difference is a property manager doesn't live on the property and a resident manager usually lives on the property. What must be done when a written property agreement is made? - Correct Answer ✅The owner must be given a legible copy of the agreement at the time the owner signs the agreement. Is it possible for a licensee to be an employee of a brokerage?
• Correct Answer ✅While it is more common for a licensee to be an independent contractor it is possible for the agent to be an employee of the company. Who must prepare legal documents for a closing? - Correct Answer ✅A broker may manage proceedings at a closing,

Questions and Answers (Latest Update

2025)

however an ATTORNEY must prepare legal documents used at the closing. What violation of could lead to suspension or revocation of a brokerage's license? - Correct Answer ✅When one of its agents fails to include an absolute expiration or termination date in a listing or buyer agency brokerage services agreement. No automatic extensions are allowed. The following promise or guarantee is a violation of License Law: - Correct Answer ✅promising a buyer that the property value will increase and the buyer can profit for a sale later. A purpose of the Georgia Real Estate Education, Research, and Recovery fund is to: - Correct Answer ✅provide resources to investigate complaints against licensees and provide reimbursement for damages caused by licensees misrepresentations of value. What must a community association manager who wants to become a broker do? - Correct Answer ✅Complete an

Questions and Answers (Latest Update

2025)

additional 75 hours of real estate coursework equivalent to the salesperson's exam. What job requires someone to have a community association manager's license? - Correct Answer ✅Someone who is hired by a community association to collect and disburse association dues. After resigning or being terminated, how long does a CAM have to return all records to the Community Association? - Correct Answer ✅60 days Violating the Sherman Anti-Trust act does NOT result in what?

• Correct Answer ✅5 year prison term.
  • Correct Answer ✅