Test Your Georgia Real Estate Knowledge

Question 1

A commercial agent has a 26 feet by 40 feet space for rent for $2250/mo. What is the annual rent per square foot?

Accepted Answer

$25.96

Question 2

It is ok for Brokers A & B decide that they will not show listings from a certain broker that offers less commission.

Accepted Answer

False

Question 3

Ann&#x27;s listing went under contract 1 day before it expired and t&Rd 15 days later and seller no longer wants to sell.

Accepted Answer

A unilateral brokerage termination should be signed.

Question 4

Which of these was asbestos never used for?

Accepted Answer

Paint

Question 5

When inhaled it affects the lung tissue and can damage DNA and can make cells die. This is…

Accepted Answer

Radon

Question 6

Property closes on August 9th. How many days interest will buyer have to pay at closing if first payment is Oct 1?

Accepted Answer

22

Question 7

A buyer tells her agent that there is mold in the bathroom of the home she is interested in buying. Lori should…

Accepted Answer

Advise she should have an inspector confirm.

Question 8

Broker A states that they&#x27;ll reduce commission for seller but only if he agrees to use him to buy. This is ….

Accepted Answer

Illegal

Question 9

The FHA currently sets the debt-to-income ratio at...?

Accepted Answer

43

Question 10

Who does the security deposit belong to?

Accepted Answer

Tenant

Question 11

If a tenant remains after the term of the lease without permission and fails to pay rent, they are called...

Accepted Answer

Tenant at Sufferance

Question 12

Lee receives gift card from the closing attorney he recommends all the time. Since it is not money this is ok.

Accepted Answer

False

Question 13

Who is most affected by lead poisoning?

Accepted Answer

Children between 1 and 5 years

Question 14

A Georgia real estate agent owes fiduciary duty to their client not a customer.

Accepted Answer

False

Question 15

The landlord can accept the security deposit as soon as the lease is signed.

Accepted Answer

False

Question 16

A buyer has asked that all homes shown are electric only with a detached garage…What could she be concerned about?

Accepted Answer

Carbon Monoxide

Question 17

Sam is buying a house from Ann closing July 1st. Property taxes are $2000. How will it appear on the closing statement?

Accepted Answer

Debit to seller/Credit to buyer

Questions 17