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17 Cards in this Set
- Front
- Back
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Which of the following would NOT be a violation of the Georgia license law
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Failure to pt a street address in a legal description
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A broker was found guilty of commingling. The real estate commission shall have the power to:
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impose a fine not to exceed $1,000
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Which of the following is NOT a legitimate reason for a broker or sales associate to refuse a listing
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The owner's minority status would make the property difficult to sell
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In Georgia a broker must deposit the earnest money in a seperate trust o escrow account established for that purpose, unless:
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all parties involved have agree otherwise in wirting
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A sales person negotiated the sale of a house for a builder. Because the house had been on the market for a long itme, the builder offered to give the sales person a television as a bonus. Which of the following is ture about this situation?
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the sales person can accept the bonus only with knowledge and consent of the broker holding the licnese
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In the marketing of a condominium unit, the real estate locencee tells the proscpetive buyer that because of the demand for these units the price will double in five year. this statement by the locensee is;
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a violation of the license law
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"For sale" signs must be move form the property no later than:
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10 days after the expiration of the lisitng
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A broker learns that a neighbor might be selling their house and proceeds to secure portential buyers without the knowledge and consent of the owner. Would the broker's action be in violation of the license law?
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yes, this would be considered an unauthorized offering
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A-11: A real estate licensee pays a $50 referral fee to an an unlicensed person for securing potential buyers. Is this action permissible under the license law
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No, this action is a violation of the license law
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A-12: On monday evening, after the brokerage office has closed, a salesperson receives an offer to purchase and earnet mony deposit in the form of a personnal check. On wednesday, she obtains the final acceptance on the offer. The earnest money check would MOST LIKELY be turned over to the broker:
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Tuesday
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A-13: Licensees must keep true and correct copies of all sales contract; closing statements and other documents related to real estate closings for a period of:
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3 years
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A-14: Upon termination of a managemtn agreement by a community association or property owner licensee shall provide all records, documents and funds within what period of time of the termination?
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30 days
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A-15: A licensee induces a seller to break 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:
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a violation of the license law
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A-16: If the purchaser is paying a substantial amount of earnet money, and particulery if the closing is several months later, it owuld be practical to place the ifnds in an interest bearing account. It is permissible to do so as long :
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all parties having an interest in the fund agree to this procedue in wirting
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A-17: All "for sale" signs must be removed form the property within how many day s after termination of the listing agreement?
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10 days
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A-18: A licensee has been given verbal permission to place a "for sale" sign on the property by the seller. Could the licensee legally place a "for sale" sign on the property with this permission ?
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No, permission is not required for " for sale" signs
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A-19: Before attempting to show property listed in the multiple lisitn service by another company, a sales person should:
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call the listing company
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