Unit 11

the georgia real estate commission consists of

• 7 members appointed by the governor

• 6 members appointed by the commissioner

• 9 members, 7 appointed by the governor

• 6 members appointed by the governor

Georgia real estate commission members serve terms of

• 3 years and may serve 2 terms

• 2 years and may serve 3 terms

• 5 years and serve until a replacement is named

• 4 years

the commission is empowered to do which of the following?

• pass rules and regulations relating to the real estate profession

• specify maximum compensation of brokers

• specify items included in the agreement between the broker and affiliated licensees

• specify how affiliated licensees are compensated

which of the following is true regarding the salesperson 25-hour post-license course?

• if not completed within 1 year, the license expires and the individual must retake the pre-license course and licensing exam in order to be licensed

• if not completed within 6 months, the licensee will become inactive until the course is completed

• if not completed withing 1 year and licensee enrolled and paid for the course within 1 year, license is lapsed and licensee has an additional 6 months to comply

• if not completed within license renewal period, license expires

when a licensee fails to complete the required continuing education within the renewal period,

• the license is cancelled

• the license will lapse

• the licensee will be on inactive status

• the license status is suspended

which of the following is the most accurate definition of real estate broker?

• a person who manages a real estate office

• one who buys, sells and manages real estate for clients

• a person who buys, sells, manages or exchanges real estate on behalf of others for compensation

• a person who manages real estate on behalf of customers

if a general partnership applies for a real estate license,

• all participants in the partnership must practice real estate

• the qualifying broker must be a general partner of the partnership

• the limited partners may not practice real estate under any circumstances

• all general partners must be licensed as active brokers

Christine obtained her real estate license on June 3rd of this year. when will her license expire?

• on december 31 of the 4th year

• on december 31st of the 3rd year

• on last day of her birth month in the 4th year

• on last day of her birth month in the 3rd year

broker walter had his licensed revoked 6 months ago. he would like to continue to practice real estate. what must walter do?

• wait 10 years before reapplying for licensure

• follow the procedure for a licensee whose license has been expired for more than 6 months

• wait 2 years before reapplying for licensure

• walter cannot be licensed after having his license revoked

the license renewal fee for real estate licensees is

• $150 for all licensees

• $125 for all licensees

• $75 for all licensees

• $50 for salespersons and community association managers and $75 for brokers and associate brokers