Rules and regulations

Question 1

Rules and regulations are passed to clarify and further explain sections of License Law that may be misunderstood or misinterpreted by licensees or the public. Who passes these rules and regulations?

Answer 1

The R.E. Commission

Question 2

If there is a matter that is not in the best interest of the public; would the commission be allowed to pass any rules or regulations?

Answer 2

Yes

Question 3

The commission can pass rules based on what provision?

Answer 3

License Law Provision

Question 4

Real Estate Rules and regulations have the same force and effect as the law; true or false?

Answer 4

True

Question 5

Is anyone allowed to appear at a Real Estate commission meeting? And if so, are there any steps to take?

Answer 5

Yes, show up with a written and notarized letter

Question 6

With a written and notarized petition, anyone can request that the Commission passes, amends, or repeals a rule. How long will it take for the commission to respond with a denial or to just institute the rule-making procedure?

Answer 6

Within 30 days

Question 7

If the written and notarized petition of someone is requesting for a declaratory ruling as to whether some aspects of License Law or the rule applies to a specific situation. How long will the commission take to respond if the petition is not intended for the Atty General?

Answer 7

They will respond within 60 days

Question 8

What is the person who hires a broker to find them a buyer; or the person hiring a broker to find them a home called?

Answer 8

The client or the principal

Question 9

Performing only ministerial acts with no written agreement for a person; What that person is called?

Answer 9

A customer

Question 10

The shipment in which you instruct the U.S. mail or a private delivery company to deliver your package the next day with a return receipt is called?

Answer 10

Statutory overnight delivery

Question 11

Formal discipline records where payment from the recovery fund was made are kept for how long?

Answer 11

40 years

Question 12

All other records not including disciplinary actions against a licensee are held for how long?

Answer 12

15 years

Question 13

Are you able to reinstate your license if it’s revoked or if you have surrendered it?

Answer 13

No, only if it lapses are you able to reinstate it?

Question 14

How often do you have to renew your license?

Answer 14

Every 4 years by the end of my birthday month

Question 15

What are the fees to pay at your 4 years renewal?

Answer 15

$45 activation fee and $125 renewal fee a total of $170

Question 16

A percentage of the activation fee goes to the recovery fund. What is that amount?

Answer 16

$20

Question 17

If you allow your license to lapse and decide to pay your reinstatement fee within 4 months. How much will that fee cost you?

Answer 17

$100

Question 18

What is the reasonable fee one has to pay if they fail to notify the commission of any changes within 30 days?

Answer 18

$25

Question 19

An out-of-state person wanting to get a broker’s license in GA may be able to move forward by providing what documents or following what steps?

Answer 19

By presenting an affidavit relating to previous transactions and prove they held a R.E. license for the last 5 years.

Question 20

Veterans with at least 1 year of service, 90 days of that year in war or an armed conflict are credited points in their R.E exam. How many points under these circumstances are they credited?

Answer 20

5 points

Question 21

Veterans who were discharged from duty due to an illness or an injury and at least a 10% disability, get what amount of credit in their R.E. exam?

Answer 21

10 points

Question 22

Applications related to licenses are also held for 15 years; Any changes to your application that you may request via U.S mail will have an effective date as of?

Answer 22

The postmark’s date

Question 23

How long do you have after passing your state exam to apply for your R.E. License?

Answer 23

Within the first year

Question 24

When will the commission charge you double when applying for your R.E License?

Answer 24

If you don’t apply within the first 3 months of passing your exam

Question 25

What is the outcome if you don’t apply for your R.E. License within the first year after passing the exam?

Answer 25

You have to retake the exam

Question 26

How many licenses are required for a firm?

Answer 26

Two, one for the firm and one for the qualifying broker

Question 27

What document is a corporation required to add to the application when applying for a license at the commission?

Answer 27

A corporate charter as registered with the Secretary of State