Georgia Real Estate Salesperson Practice Test

Answer choices

1. A. The Georgia Real Estate Appraisers Board licenses all salespersons and brokers. That approach would bypass the Commission procedure established by Georgia license law and Chapter 520 rules.
2. B. The Secretary of State's corporations division alone regulates brokerage conduct.
3. C. PSI makes disciplinary decisions because it administers the examination.
4. D. The Georgia Real Estate Commission administers real-estate license law and brokerage rules.

Wrong-answer review

• A. The Georgia Real Estate Appraisers Board licenses all salespersons and brokers. That approach would bypass the Commission procedure established by Georgia license law and Chapter 520 rules.: Incorrect. The choice assigns authority to the wrong actor or bypasses the procedure established by Georgia license law and Commission rules. The Georgia Real Estate Commission is the licensing and regulatory authority for real-estate brokers, salespersons, and CAM licensees; PSI is the exam vendor, not the disciplinary body.
• B. The Secretary of State's corporations division alone regulates brokerage conduct.: Incorrect. The choice assigns authority to the wrong actor or bypasses the procedure established by Georgia license law and Commission rules. The Georgia Real Estate Commission is the licensing and regulatory authority for real-estate brokers, salespersons, and CAM licensees; PSI is the exam vendor, not the disciplinary body.
• C. PSI makes disciplinary decisions because it administers the examination.: Incorrect. The choice assigns authority to the wrong actor or bypasses the procedure established by Georgia license law and Commission rules. The Georgia Real Estate Commission is the licensing and regulatory authority for real-estate brokers, salespersons, and CAM licensees; PSI is the exam vendor, not the disciplinary body.

Answer choices

1. A. Emblements, because annual crops produced by the tenant's labor are treated as personal property.
2. B. Fixtures, because crops are rooted in the soil and therefore always transfer with the land.
3. C. Trade fixtures, because the crop was planted in connection with the tenant's farming business.
4. D. Appurtenances, because anything associated with land automatically becomes an ownership right.

Answer choices

1. A. No license numbers if the transaction is residential. No additional written disclosure or correction would be required under that interpretation of the transaction rules.
2. B. Only the seller's driver's-license number.
3. C. Only the listing firm's federal tax ID.
4. D. The six-digit Commission license number of each participating firm and licensee must be included as required by the rule.

Answer choices

1. A. Verify applicable land-use, utility, and site requirements before the buyer removes the due-diligence contingency.
2. B. Rely on the listing price as evidence that all governmental development requirements have been satisfied.
3. C. Treat the absence of sewer service as irrelevant because economic characteristics cannot affect land use.
4. D. Assume the lot is buildable because ownership includes an unrestricted right to develop the surface.

Answer choices

1. A. Automatic title insurance issued by the county when the deed is recorded.
2. B. Only whatever interest the grantor may have, with no title covenants by definition.
3. C. A guarantee from the government that no lien can ever affect the property.
4. D. Broad covenants from the grantor concerning title, subject to the deed's actual terms.

Answer choices

1. A. Treat it as earned management income on receipt because security deposits are never refundable.
2. B. Give it to any vendor who expects future repair work because security deposits are prepaid maintenance funds.
3. C. Deposit it into the manager's personal checking account if the funds will be tracked on a spreadsheet.
4. D. Follow applicable state law, the lease, and brokerage trust-account rules governing tenant funds.

Answer choices

1. A. Keep it as undeposited cash until the financing contingency expires.
2. B. Deposit it into the firm's operating account if the ledger separately identifies it. No further written agreement, trust-account entry, or reconciliation would be needed under that interpretation.
3. C. Place it in any investment account offering the highest yield.
4. D. Promptly deposit it in a federally insured account designated as a trust account and registered with the Commission.

Answer choices

1. A. The bolted wall bracket, because its attachment indicates it has become part of the real estate.
2. B. The television, because it was used in the living room when the property was shown.
3. C. The removable screen, because it was displayed together with the attached bracket.
4. D. All three items, because anything present during a showing automatically conveys with the property.

Answer choices

1. A. Eminent domain through condemnation.
2. B. Police power through zoning.
3. C. Escheat due to lack of heirs.
4. D. Taxation through a special assessment.

Answer choices

1. A. A corrected Closing Disclosure and a new three-business-day waiting period before consummation.
2. B. Cancellation of the purchase contract by operation of federal law.
3. C. No new waiting period because loan-product changes are never material under TRID.
4. D. Only a verbal explanation from the real estate agent before the deed is recorded.