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CE Shop Practice Test – GA Latest Update with Verified Solutions

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CE Shop Practice Test – GA Latest Update with Verified Solutions Lacey works for a government agency as an office space location specialist. Her role is to gather information and locate office sp... ace for government agencies. Does she need a real estate license? ✔✔No, government employees are an exception to the real estate license requirement. Which of the following is a legitimate and legal way that an exclusive right-to-sell listing agreement may terminate without the seller owing a commission? ✔✔The listing agent stops working on the listing. What information would the Loan Estimate NOT provide to buyers under the TRID-required disclosures law? ✔✔Final closing costs Randa is trying to lower the vacancy rates for the commercial property she manages because her revenue targets have increased by 8% over the next year. What type of budget contains this revenue detail? ✔✔Operating budget When a licensee represents a seller, which one of the following statements is true about the licensee's ability to list other properties that are for sale? ✔✔The licensee is permitted to list other properties for sale, even if they're competing properties. Fallon is a broker who wants to ensure she is paid, regardless of whether a property sells. She asks for 4% of the listing price up front, which is lower than her colleague's 6% contingency fee. What type of fee is this? ✔✔Advance Fee Which of the following actions occurs prior to closing? ✔✔The buyer obtains a binder for insurance coverage on the new home. Which source of law is created through legislation? ✔✔Statutory Law The two primary purposes of which kind of budget are to help property managers maximize profitability and to avoid unforeseen major expenses. ✔✔Operating In which of these situations has the licensee compromised th [Show More]

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