part 1

Question 1

all six members of the georgia real estate commission are appointed by

Answer 1

the governor of georgia

Question 2

how many members of the RE commission have licenses?

Answer 2

5 have licenses. 1 is an unlicensed member of the general public.

Question 3

all money that belongs to clients must be deposited when?

Answer 3

ASAP

Question 4

when a license lapsed for more than 2 years but less than 5 years they may..

Answer 4

request reinstatement and retake the 75 hour course.

Question 5

after ten years of a lapsed license

Answer 5

the former licensee must follow procedure for new applicants.

Question 6

when a broker appoints one of his agents to serve the seller and one to serve the buyer, they are called

Answer 6

designated agents and the broker is a dual agent.

Question 7

to be a dual agent you must obtain

Answer 7

written permission from both seller and buyer before acting behalf of either party

Question 8

$20 from each license fee is allocated to fund

Answer 8

the RE education, research and recovery fund. funds received cannot be used for conducting research on computer hardware.

Question 9

safety or carryover or extender clause is

Answer 9

the clause used to protect the broker from buyers or sellers who would take the brokers generated leads, but then buy or sell the property once the listing agreement expired in order to avoid commission fees

Question 10

if you handle real estate transaction details for a fee you must have

Answer 10

either a real estate license or law license

Question 11

members of the RE commission serve

Answer 11

Five Year Terms