The exam in numbers
152 scored questions: 100 national and 52 Georgia, which is 34% of the paper. 1 to 10 unscored experimental items may also appear. $175 per attempt. Results on screen when you submit.
Georgia-only rules
If you remember nothing else, remember these. They are where the state portion lives.
| Topic | The Georgia rule |
|---|---|
| Security instrument | Security deed, not a mortgage. Georgia is a title theory state |
| Who closes | A licensed Georgia attorney |
| Foreclosure | Non-judicial, with no statutory right of redemption after sale |
| Transfer tax | $1 per $1,000 of the sale price |
| Intangible recording tax | Applies to the loan amount, not the price |
| Assessment ratio | 40% of fair market value, before millage |
| Agency statute | BRRETA. A client has a written engagement, a customer does not |
| Dual agency | Permitted with written informed consent from all clients |
| Designated agency | Permitted. Confidences do not pass between designated agents |
| Contract forms | GAR forms are standard. Georgia does not promulgate forms |
| Due diligence period | Buyer may terminate for any reason inside the window |
Fees and deadlines
- Exam: $175 per attempt, non-refundable.
- Licence: $170 if you apply within 3 months of the exam date, $340 after that.
- After 12 months the exam result expires and you retake it.
- GCIC report: dated no more than 60 days before application.
- Prelicense: 75 hours. Post-license: 25 hours in year one. CE: 24 hours per 4-year cycle.
The content outline
| Area | Weight |
|---|---|
| State Laws and Rules GA | 16 Q |
| Real Estate Practice in Georgia GA | 21 Q |
| Finance and Closing GA | 15 Q |
| Contracts | 19% |
| Agency | 13% |
| Practice of Real Estate | 12% |
| Property Ownership | 10% |
| Financing | 10% |
| Valuation and Market Analysis | 8% |
| Real Estate Calculations | 7% |
| Property Disclosures | 7% |
| Transfer of Title | 6% |
| Land Use Controls and Regulations | 5% |
| Property Management | 3% |
Formulas
| Formula | Method |
|---|---|
| Transfer taxGA | Sale price / 1,000 x $1.00 |
| Intangible recording taxGA | Based on the loan amount |
| Assessed valueGA | Fair market value x 40% |
| Property tax | Assessed value / 1,000 x millage |
| Commission | Sale price x rate |
| Seller net | Desired net / (1 - commission rate) |
| Loan-to-value | Loan / value |
| Discount points | Loan x points as a percentage |
| Capitalisation rate | Net operating income / value |
| Gross rent multiplier | Price / gross rent |
| Proration | Annual amount / 360 x days owned |
| Acreage | Square feet / 43,560 |
| Profit or loss | (New - original) / original |
| Straight-line depreciation | Improvement value / useful life |
| Appraisal adjustment | Adjust the comparable, never the subject |
Exam day
Two forms of identification with matching names, your GCIC report, and nothing else you cannot lock away. Arrive thirty minutes early. A basic calculator is provided. The full checklist.
Then stop revising. Take one short mixed set if you want the format fresh, and go to bed.