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Real Estate Exam #4

Georgia Real Estate Salesperson Exam Real Estate Exam #4
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  1. Question 1 of 50
    1. Question

    In Georgia, Delinquency in real estate terms means:

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  2. Question 2 of 50
    2. Question

    In Georgia, A title plant is a duplicate set of title records maintained at title insurance companies for use in:

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  3. Question 3 of 50
    3. Question

    In Georgia, A real estate broker is typically considered:

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  4. Question 4 of 50
    4. Question

    In Georgia, If a person who works for a private corporation wants to participate in an employer-sponsored investment plan that allows them to set aside tax-deferred income for retirement or emergency purposes, they would enroll in a:

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  5. Question 5 of 50
    5. Question

    In Georgia, A non-conforming loan is a loan amount over:

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  6. Question 6 of 50
    6. Question

    In Georgia, A man paid $9,500 for the stock in trade of a retail business. He sold it for 25% more than he paid for it. If he lost 15% of the gross sale price because of credit risks, the net profit on his original investment would be:

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  7. Question 7 of 50
    7. Question

    In Georgia, This is a decision made by a court of law:

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  8. Question 8 of 50
    8. Question

    In Georgia, When Jared, a licensed real estate agent, obtains an exclusive listing for a property in his own neighborhood, Jared has obtained:

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  9. Question 9 of 50
    9. Question

    In Georgia, An unlicensed assistant in a real estate office cannot:

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  10. Question 10 of 50
    10. Question

    In Georgia, This will cover repairs to certain items like air conditioning or heating during the coverage period:

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  11. Question 11 of 50
    11. Question

    In Georgia, If a dispute over ownership of a property occurs, a property owner would likely be protected from loss if they had purchased:

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  12. Question 12 of 50
    12. Question

    In Georgia, When a real estate transaction occurs, which of these typically earn the highest commissions, barring any other contractual agreements?

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  13. Question 13 of 50
    13. Question

    In Georgia, Which of these is a congressionally chartered, shareholder owned company that is the nation’s largest supplier of home mortgage funds?

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  14. Question 14 of 50
    14. Question

    In Georgia, Retaining a property while at the same time using it as collateral to secure a loan is called:

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  15. Question 15 of 50
    15. Question

    In Georgia, A fiduciary relationship requires these elements:

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  16. Question 16 of 50
    16. Question

    In Georgia, Which of these is an example of a general agent that has the authority to make binding decisions on behalf of the principal:

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  17. Question 17 of 50
    17. Question

    In Georgia, A lease constitutes in part an ______________ contract between the ________________ and the __________________.

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  18. Question 18 of 50
    18. Question

    In Georgia, When a value is placed on a property for the purpose of taxation, this is called a(n):

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  19. Question 19 of 50
    19. Question

    In Georgia, The difference between the interest rate and the index on an adjustable rate mortgage is best known as:

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  20. Question 20 of 50
    20. Question

    In Georgia, A purchase money transaction is:

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  21. Question 21 of 50
    21. Question

    In Georgia, Method of attachment, adaptability of the attached item, relationship of the parties, intent of the person attaching the item, and agreement between parties are:

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  22. Question 22 of 50
    22. Question

    In Georgia, The Federal National Mortgage Association is also known as:

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  23. Question 23 of 50
    23. Question

    In Georgia, The Government National Mortgage Association, that provides funds for government loans like FHA and VA, is also known as:

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  24. Question 24 of 50
    24. Question

    In Georgia, Which of these would have the most percentage of their funds invested in real estate mortgages?

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  25. Question 25 of 50
    25. Question

    In Georgia, The “original principal balance” is best defined as:

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  26. Question 26 of 50
    26. Question

    In Georgia, Uniqueness in real estate properties is sometimes called:

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  27. Question 27 of 50
    27. Question

    In Georgia, A technique in which a seller deeds property to a buyer for consideration, and the buyer simultaneously leases the property back to the seller is called:

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  28. Question 28 of 50
    28. Question

    In Georgia, What does the Real Estate Settlements Procedures Act cover?

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  29. Question 29 of 50
    29. Question

    In Georgia, If Jonas is a person who is licensed in his state who negotiates and transacts the sale of real property, Jonas is:

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  30. Question 30 of 50
    30. Question

    In Georgia, If Jonathan lists his property with Julian, a broker in his hometown, and subsequently is killed in a tragic car accident before the listing is sold or expired, what happens with the listing?

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  31. Question 31 of 50
    31. Question

    In Georgia, Which of these are considered a protected class under the Fair Housing Amendments Act of 1988?

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  32. Question 32 of 50
    32. Question

    In Georgia, What happens if the principal is incapacitated or suffers death according to the laws of agency?

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  33. Question 33 of 50
    33. Question

    In Georgia, If a minority person is looking to purchase a home and the lender refuses to lend to them based on their creditworthiness, this is:

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  34. Question 34 of 50
    34. Question

    In Georgia, Any encumbrance placed on a property without the owner’s consent is considered:

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  35. Question 35 of 50
    35. Question

    In Georgia, The appraised value of a property is intended to estimate the:

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  36. Question 36 of 50
    36. Question

    In Georgia, When a lender makes a “firm commitment”, the lender has:

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  37. Question 37 of 50
    37. Question

    In Georgia, An unconditional unlimited estate of inheritance that represents the greatest estate and most extensive interest in land that can be enjoyed and is of perpetual duration is called a:

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  38. Question 38 of 50
    38. Question

    In Georgia, In order for a loan to be insured through the FHA, the property must:

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  39. Question 39 of 50
    39. Question

    In Georgia, An agreement in which the owner of a property provides financing, often in combination with an assumable mortgage, is called:

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  40. Question 40 of 50
    40. Question

    In Georgia, This limits the amount the interest rate can increase or decrease over the life of the mortgage:

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  41. Question 41 of 50
    41. Question

    In Georgia, An “acceleration clause” is most closely related to:

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  42. Question 42 of 50
    42. Question

    In Georgia, Real property where all the owners own the property, common areas, and building together but with the exception of the interior of the unit to which they have title is called:

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  43. Question 43 of 50
    43. Question

    In Georgia, If a person agrees to pay a certain sum for a service deed to be done on a property while the other person simply agrees to do the service if their schedule permits for it, this kind of contract would be called:

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  44. Question 44 of 50
    44. Question

    In Georgia, A decline in the value of property and an accounting term showing the declining monetary value of an asset is called:

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  45. Question 45 of 50
    45. Question

    In Georgia, The interest rate that is stated on a mortgage note is called the:

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  46. Question 46 of 50
    46. Question

    In Georgia, If you obtain liability insurance, which is usually part of a homeowner’s insurance policy, it will:

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  47. Question 47 of 50
    47. Question

    In Georgia, Commissions in real estate are generally the largest for realtors (agents and brokers). Which of the following earn the second largest commissions?

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  48. Question 48 of 50
    48. Question

    In Georgia, If a married couple acquires property during their marriage, the property is considered to be:

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  49. Question 49 of 50
    49. Question

    In Georgia, A property’s bundle of rights can include which of the following:

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    Incorrect
  50. Question 50 of 50
    50. Question

    In Georgia, What occurs in a “bi-weekly” mortgage?

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    Incorrect
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