GA Real Estate License Exam Questions and Answers Rated A

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GA Real Estate License Exam Questions and Answers Rated A Georgia Real Estate Commission size ✔✔6 members Georgia Real Estate Commission appointed by ✔✔Governor of Georgia Georgia Real Est... ate Commission confirmed by ✔✔Georgia state senate How long are each of the Georgia Real Estate Commission members' terms? ✔✔5 years How many members of the 6-member Georgia Real Estate commission must be real estate licensees? ✔✔5 Does the sixth member of the Georgia Real Estate Commission have any interest in the real estate industry? ✔✔No, they must have an interest in consumer affairs only How are the Georgia Real Estate Commission members' terms staggered? ✔✔Only one licensee member's term can expire each year How long must one be actively licensed to qualify as member of the Georgia Real Estate Commission? ✔✔5 years How long must one be a resident of Georgia to qualify as a Georgia Real Estate Commission member? ✔✔5 years What is the first purpose of the real estate license law and the members of the Commission who enforce it? ✔✔To protect the public from any harmful acts of people acting as real estate licensees by assuring that licensees meet basic levels of competency. This includes either intentional or unintentional acts. What is the second purpose of the real estate license law and the members of the Commission who enforce it? ✔✔To create a regulatory environment for the real estate industry that is reasonable and allows the licensee to attain economic success Commission members' responsibilities ✔✔1. Developing a spirit of cooperation and unity among Commission members; 2. Evaluating staff operations; 3. Establishing a fair qualifying process; 4. Establishing a fair and unbiased hearing process; 5. Communicating with the industry and the public. What section of law is the Georgia Real Estate Commission's authority based upon? ✔✔Statutory law Statutory law ✔✔The written law established by enactments expressing the will of the legislature, as distinguished from the unwritten law or common law. What is the purpose of the Commission's rules and regulations? ✔✔To clarify sections of the real estate law Who administers the license law that regulates brokers, salespersons, and community association managers? ✔✔The Georgia Real Estate Commission Who's authority involves these four separate categories? 1. Issuing licenses; 2. Taking disciplinary action; 3. Passing rules and regulations; 4. Establishing fees ✔✔The Georgia Real Estate Commission Rules and regulations set forth by the Georgia Real Estate Commission may only be adopted if they fall under the "umbrella" of which type of Georgia law? ✔✔License law Is it against the law to practice real estate without a license? ✔✔Yes What does the Commission have the authority to do if a person is discovered practicing real estate without a license? ✔✔Issue a cease and desist order and impose a fine of up to $1,000 per day for the violation What level of offense is practicing real estate without a license? ✔✔Misdemeanor What is the jail sentence for practicing real estate without a license, imposed by the courts? ✔✔One year or less Who is exempted from having a real estate license? (1) ✔✔An owner of real estate, the spouse of an owner, a prospective purchaser or their regular employees or spouses Who is exempted from having a real estate license? (2) ✔✔An *attorney in fact* under a duly executed power of attorney to convey real estate from the owner/lessor. [Show More]

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