A listing broker earns a commission when:

A. the deed is delivered.

B. the contract is signed by all parties.

C. the broker brings an offer from a ready, willing and able buyer at the listing price and terms.

D. the transaction closes

A seller lists his property with a broker and the agreement provides that if the seller should find a buyer for the property himself, there will be no commission due to the broker. This type of listing is MOST likely an:

A. exclusive right to sell listing.

B. exclusive agency listing.

C. non-exclusive listing.

D. open listing.

B. exclusive agency listing.

note: in an exclusive agency listing

- one broker is hired to market property

-must be in writing to be enforceable 

-seller retains the right to sell the property himself without having to pay a broker. 

The Federal Fair Housing Law prohibits illegal steering. Which of the following would NOT be steering?

A. Showing Asian buyers only in neighborhoods that have a high occupancy of Asians, at the request of the buyer.

B. A broker shows a Hispanic homebuyer houses only in predominantly Hispanic neighborhoods.

C. Telling sellers in a neighborhood that they should sell immediately because the neighborhood is changing racially.

D. Making available to prospective tenants with children only buildings in an apartment complex which already have children. 

C. Telling sellers in a neighborhood that they should sell immediately because the neighborhood is changing racially.

Note: Steering is the channeling of homeseekers to particular neighborhoods or discouraging potential buyers from considering some areas.

Under the CAN-SPAM Act, opt-out requests must be handled within:

A. 30 business days.

B. 10 business days.

C. 31 business days.

D. 3 months.

B. 10 business days.

In Georgia, the state statute which regulates misleading real estate advertising is:

A. the Truth in Lending Law.

B. the Sherman Anti-Trust Act

C. the Fair Business Practices Act.

D. the Uniform Deceptive Trade Practices Act. 

C. the Fair Business Practices Act.

Note: Licensees may violate the FBPA when, in order to encourage consumer transactions, they advertise or market services in a misleading or fraudulent manner. 

If a broker does not offer dual agency and two agents of the same firm wish to represent different clients in the same transaction, this could be accomplished through:

A. subagency.

B. designated agency.

C. transaction brokerage.

D. limited agency.

B. designated agency.

Note: Designated Agency is dual agency is one in which an agent represents two principals in the same transaction. 

In Georgia, which of the following is FALSE concerning the seller disclosure form?

A. Use of this form may help protect the seller.

B. Use of this form may help protect the broker.

C. A seller can refuse to fill out the form.

D. The use of such form is mandated by state law

In Georgia, which of the following statements regarding brokerage agreements is FALSE?

A. Each exclusive brokerage agreement must fully set forth its terms and have a definite expiration date.

B. At the time of securing a brokerage engagement, the licensee securing such engagement must furnish each person signing it a true copy thereof.

C. The Commission prohibits the acceptance by brokers of net brokerage engagements.

D. Each exclusive brokerage engagement must include the street address of the property

Of the following, which is NOT a violation of Sherman Anti-Trust Laws?

A. Boycotting.

B. Price fixing.

C. Monopolies.

D. Steering.

 D. Steering.

Note: Steering is a violation of the Federal Fair Housing Act. 

At the federal level, the Sherman Antitrust Act provides specific penalties for a number of illegal business activities. Each state also has its own antitrust laws. These laws prohibit monopolies and any contracts, combinations, and conspiracies among competitors that unreasonably restrain trade—that is, behaviors that interfere with the free flow of goods and services in a competitive marketplace. The most common antitrust violations are price-fixing, the group boycott, allocation of customers or markets, and tie-in agreements

A brokerage company recently had a listing expire. The seller is on the Do-Not-Call list. After the end of the transaction, for how many months may the agents in the listing office call the seller?

A. 6 months.

B. 12 months.

C. 18 months.

D. 24 months.

C. 18 months

Telemarketers and sellers are required to search the registry at least once every 31 days and drop registered consumer phone numbers from their call lists. Normal business relationships are still possible. Real estate professionals may call consumers with whom they have an established business relationship for up to 18 months after the consumer’s last purchase, delivery, or payment, even if the consumer is listed on the National Do Not Call Registry. Also, a real estate professional may call a consumer for up to three months after the consumer makes an inquiry or submits an application. Note that if a consumer asks a company not to call, despite the presence of an established business relationship, the company must abide by the consumer’s request, which stays in effect permanently

A licensee should search the National Do-Not-Call Registry on a regular basis and drop registered consumer phone numbers from their call lists. This should be done at least once every:

A. 31 days.

B. 60 days.

C. 90 days.

D. 180 days. 

A. 31 days.

Telemarketers and sellers are required to search the registry at least once every 31 days and drop registered consumer phone numbers from their call lists. Normal business relationships are still possible. Real estate professionals may call consumers with whom they have an established business relationship for up to 18 months after the consumer’s last purchase, delivery, or payment, even if the consumer is listed on the National Do Not Call Registry. Also, a real estate professional may call a consumer for up to three months after the consumer makes an inquiry or submits an application. Note that if a consumer asks a company not to call, despite the presence of an established business relationship, the company must abide by the consumer’s request, which stays in effect permanently

A potential buyer attends an “open house” on a listed property and inquires about the sales price. The interested buyer is registered on the Do-Not-Call Registry. Can the salesperson call the interested buyer?

A. No, registered buyers cannot be contacted.

B. No, only the buyer can call the agent.

C. Yes, the agent can call for up to three months after the consumer makes an inquiry.

D. Yes, the agent can call for up to 18 months after the consumer makes an inquiry. 

C. Yes, the agent can call for up to three months after the consumer makes an inquiry.

Telemarketers and sellers are required to search the registry at least once every 31 days and drop registered consumer phone numbers from their call lists. Normal business relationships are still possible. Real estate professionals may call consumers with whom they have an established business relationship for up to 18 months after the consumer’s last purchase, delivery, or payment, even if the consumer is listed on the National Do Not Call Registry. Also, a real estate professional may call a consumer for up to three months after the consumer makes an inquiry or submits an application. Note that if a consumer asks a company not to call, despite the presence of an established business relationship, the company must abide by the consumer’s request, which stays in effect permanently

Under a listing agreement, the broker was instructed to show the property by appointment only, advertise the property in the multiple listing service, use a “FOR SALE” sign, and determine the validity of the title. Which of the following is NOT a duty of the listing broker?

A. Determining the validity of the title.

B. Advertising the property in the multiple listing service.

C. Showing the property by appointment only.

D. Using a "FOR SALE" sign

Salesperson Smith writes an offer on a property he has listed on Main Street at 10:00 AM. Smith immediately calls the seller and makes an appointment to present the offer at 7:00 PM. At 2:00 PM and at 4:30 PM, Smith receives subsequent offers from agents with other companies. What is Smith’s BEST course of action regarding these three offers?

A. Smith should present all offers without making any comments as he is not representing the interests of the seller and has no duty to advise.

B. Smith should present all offers and do so in the manner which Smith deems will be best to help the seller client understand the options.

C. Smith is required to present the offers in the order in which they were received.

D. Smith is required to present the offers of the cooperating brokers first so as not to gain an unfair advantage

If a listed property is taken under condemnation (eminent domain) or sold at a foreclosure sale, is the broker paid a commission?

A. No, the broker did not negotiate the sale.

B. No, the fee is paid to the county.

C. Yes, the property was sold.

D. Yes, commissions are paid based on compensation paid to the owner.

A broker sold a property which was listed with another broker. When would the listing broker commission be due and payable?

A. When the contract is signed by all parties.

B. Upon closing.

C. Upon producing a ready, willing and able buyer.

D. Upon the recording of the deed and title transfer. 

A developer lists 20 properties with four different licensees. Each licensee has a display model at the development site. Which of the following is required at each of the display models?

A. Each visitor to the model must be provided with a condominium Buyer’s Handbook.

B. Each display model must have the license of each licensee displayed.

C. Each licensee must inform the buyers of the other units available by the other licensees.

D. Each licensee must have a HUD FAIR HOUSING poster displayed with each display model.

“For Sale” signs must be removed from the property no later than:

A. the day of the expiration of the listing.

B. ten days after the expiration of the listing.

C. thirty days after the expiration of the listing.

D. a reasonable time after the expiration of the listing.

A licensee shall make a written disclosure to both the buyer and seller revealing the party or parties for whom that licensee's firm is acting as an agent and from whom that licensee's firm will receive any valuable consideration for its effort in the transaction. This disclosure must be made no later than:

A. 10 days after acceptance of an offer.

B. the agreed upon closing date in the transaction.

C. the time that any party first makes an offer.

D. the time that any party is shown the property. 

Licensees must keep true and correct copies of all sales contracts, closing statements and other documents related to real estate closings for a period of:

A. three years.

B. three years and up to five years at the request of the Commission.

C. five years.

D. five years and up to 10 years at the request of the Commission

Which of the following statements regarding the federal Fair Housing Law is TRUE?

A. It applies to commercial property.

B. Aggrieved persons under the law should file a complaint with the FHA.

C. It prohibits discrimination in the selling and renting of residential housing.

D. It prohibits discrimination based only on race, religion and national origin.

C. It prohibits discrimination in the selling and renting of residential housing.

Note: Federal Fair Housing Law= The federal law that prohibits discrimination in housing based on race, color, religion, sex, disability, familial status, and national origin. 

Which of the following activities by a real estate brokerage firm would NOT be a violation of the Federal Fair Housing Law?

A. The brokerage company has posted an "Equal Housing Opportunity" poster in their office.

B. The broker runs an apartment ad that states "Seeking Adult Renters Only".

C. Inducing homeowners to sell by making representations that members of a certain minority group are entering the area.

D. A broker shows a Hispanic home buyer only houses in Hispanic neighborhoods. 

A. The brokerage company has posted an "Equal Housing Opportunity" poster in their office.

Note :All of the other options are violations 

 A property manager was showing property in a twenty-unit apartment complex to a prospective tenant in a wheelchair. The tenant wanted to rent a unit and make reasonable modifications to the premises, such as lowering all of the door handles. The landlord:

A. can refuse to rent to the tenant because it would lower the rental value of the unit.

B. must allow and pay for these modifications.

C. must allow the tenant, at the tenant’s expense, to make the modifications, but can require restoration of the property by the tenant.

D. must allow the tenant, at the tenant’s expense, to make the modifications but cannot require restoration at the end of the lease. 

In Georgia, which of the following brokerage engagements must be in writing?

A. Only engagements for longer than 90 days.

B. Only seller's brokerage engagements.

C. All exclusive brokerage engagements.

D. Only buyer's brokerage engagements

In Georgia, when a licensed firm is advertising a specific property or properties for sale, lease or exchange in any media, the advertisement must include the name of the firm that is registered with the Commission and the firm’s:

A. mailing address.

B. real estate license number.

C. telephone number.

D. logo.