COLLIBRI REAL ESTATE FINAL EXAM

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COLLIBRI REAL ESTATE FINAL EXAM

QUESTIONS BANK NEWEST 2024

COMPLETE 300 QUESTIONS AND CORRECT

DETAILED ANSWERS (VERIFIED

ANSWERS) |ALREADY GRADED A+ ||BRAND

NEW VERSION!

Jadarius has had his license suspended. By law, Jadarius's name will b e published on the Georgia Real Estate Commission website if the licenses has been suspended for how long?

• 15 days
• 30 days
• 60 days
• 90 days - ANSWER- C) 60 days

Why was the Real Estate Education, Research and Recovery Fund established?

• To educate the public about real estate
• To fund courses for real estate agents 1 / 4

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• To compensate consumers damaged by licensees' practices
• To conduct real estate research projects - ANSWER- C) To

compensate consumers damaged by licensees' practices

Which of these persons would require a real estate license?

• Suresh is a full-time employee of a utility company. He

negotiates and acquires leases for the company.

• Greta is an attorney who conveys real estate under a power of

attorney.

• Jack refers clients to his licensed broker brother and receives

a fee from the parties he refers.

• A partnership sells a building owned by the partners. -

ANSWER- C) Jack refers clients to his licensed broker brother and receives a fee from the parties he refers.

Broker Larry received an earnest money check from a buyer for $3,000. He needed the money, so he cashed the check. At closing, he gave the seller a check for $3,180, the amount of the original check plus 6% interest. Which statement is true?

• Larry should have deposited the earnest money in a

federally-insured account with other escrow funds. 2 / 4

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• It was okay that Larry cashed the check, but he should not

have given the interest to the seller.

• Larry should have deposited the check into his personal

account and kept the interest.

• Larry should have discussed what to do with the interest with

all of the parties involved in the transaction. - ANSWER- A) Larry should have deposited the earnest money in a federally- insured account with other escrow funds.

Which of the following is true of Georgia support personnel?

• They must be licensed.
• They may insert factual information into form contracts

under the supervision of the employing broker.

• They may independently host open houses.
• They must always be unlicensed. - ANSWER- B) They may

insert factual information into form contracts under the supervision of the employing broker.

Jake and Hal are partners in a real estate firm. Jake, the qualifying broker, dies unexpectedly. Which of the following statements is FALSE?

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• Hal may temporarily saves as qualifying broker if the

qualifying criteria are met.

• The designated partner can sign all documents that must filed

with the Commission.

• Only Hal has the authority to disburse trust funds from the

designated accounts.

• The firm has 60 days to secure a new qualifying broker. -

ANSWER- C) Only Hal has the authority to disburse trust funds from the designated accounts.

Jim is a community association manager and Dick is a property manager. Which of the following statements is NOT true?

• Jim deals with multiple owners.
• Dick has a single client.
• Jim interacts with his owner frequently.
• Dick must have day-to-day contact with his client. -

ANSWER- D) Dick must have day-to-day contact with his client.

Ben is a broker who is selling his own home. When advertising his home for sale, all of the following is true about the ad EXCEPT that it

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