Georgia Real Estate Practice Test (Free)

Question 1

What is the key difference between an exclusive right-to-sell listing and an open listing?

Accepted Answer

In an exclusive right-to-sell listing, the broker earns a commission no matter who procures the buyer, while an open listing pays a commission only to whichever broker finds the buyer

Answer

An open listing always pays a higher commission rate

Answer

An exclusive right-to-sell listing cannot be used for residential property

Answer

There is no meaningful difference between the two listing types

Question 2

What is the main purpose of title insurance in a real estate transaction?

Accepted Answer

To protect against financial loss from defects in the property's title that existed before the policy was issued

Answer

To insure the physical structure against fire and storm damage

Answer

To guarantee the buyer a fixed interest rate on their mortgage

Answer

To replace the need for a property survey

Question 3

What is a minimum age requirement to apply for a real estate salesperson license in Georgia?

Accepted Answer

18

Answer

16

Answer

21

Answer

25

Question 4

What must a newly licensed Georgia real estate salesperson complete within the first year to keep the license from lapsing?

Accepted Answer

A 25-hour Salesperson Postlicense course

Answer

A 60-hour Broker Prelicense course

Answer

A separate exam administered by Pearson VUE

Answer

Nothing further is required after initial licensing

Question 5

In Georgia, what does the term 'fee simple' describe in real property ownership?

Accepted Answer

The most complete form of property ownership, with the fewest limitations

Answer

A temporary lease arrangement between landlord and tenant

Answer

Ownership limited strictly to mineral rights

Answer

A form of ownership that automatically expires after 99 years

Question 6

In an agency relationship, what duty does a real estate agent owe their client regarding confidential information?

Accepted Answer

The duty of confidentiality, protecting information that could harm the client's negotiating position

Answer

No duty of confidentiality exists in real estate agency

Answer

A duty to disclose all client information to the other party

Answer

A duty that only applies after the transaction closes

Question 7

Which agency licenses real estate salespersons and brokers in Georgia?

Accepted Answer

The Georgia Real Estate Commission (GREC)

Answer

The Office of the Commissioner of Insurance and Safety Fire

Answer

The Georgia Professional Standards Commission

Answer

The State Construction Industry Licensing Board

Question 8

Which entity administers the real estate licensing exam for Georgia candidates?

Accepted Answer

PSI

Answer

Pearson VUE

Answer

GREC directly, with no outside vendor

Answer

Sircon

Question 9

What is the purpose of a mortgage in a real estate financing transaction?

Accepted Answer

It creates a lien on the property that secures repayment of the loan

Answer

It transfers full ownership of the property to the lender

Answer

It replaces the need for a promissory note

Answer

It is a form of property insurance

Question 10

How does Georgia treat license reciprocity for real estate licensees moving from other states?

Accepted Answer

Georgia offers licensing by reciprocity to license holders from other states who are in good standing and obtained their license by exam

Answer

Georgia never recognizes any out-of-state real estate license

Answer

Reciprocity is limited to only one neighboring state

Answer

Reciprocity applies only to brokers, never salespersons