PASS GEORGIA
REAL ESTATE EXAM PREPGEORGIA REAL ESTATE EXAM GLOSSARY
A firm license is the Georgia license issued to a business entity conducting brokerage activity through a qualifying broker.
State Laws and Rules
Georgia brokerage roles
Define, distinguish, apply, retrieve
Official exam outline plus authoritative Georgia or federal references where the topic has a controlling rule. Independent educational resource, not affiliated with GREC or PSI.
Continue from definition to exam-ready recall.
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PASS GEORGIA
REAL ESTATE EXAM PREPGEORGIA REAL ESTATE EXAM
GLOSSARY TERM GUIDEBuild the complete exam definition
Learn the rule, separate it from the nearest distractor, then apply it to a Georgia fact pattern.
What does Firm license mean?
A firm license is the Georgia license issued to a business entity conducting brokerage activity through a qualifying broker. It is distinct from the individual licenses held by the people affiliated with the firm.
How do you separate the nearest exam answer?
The firm is licensed as an entity, while the qualifying broker and affiliated licensees hold individual licenses with separate duties and statuses.
What changes or stays the same in Georgia?
A business entity cannot avoid firm-licensing and qualifying-broker requirements merely because its owners or employees hold individual real estate licenses.
An LLC offers brokerage services under its business name, holds the required firm license, and identifies the broker responsible to GREC.
An active individual broker license does not automatically license every corporation or LLC the broker owns.
PASS GEORGIA
REAL ESTATE EXAM PREPGEORGIA REAL ESTATE EXAM
GLOSSARY TERM GUIDERetrieve the rule under exam conditions
Answer before reading the explanation. Then explain why every distractor belongs to a different term.
Jo holds an active Georgia broker license and forms Jo Homes LLC to take listings under the LLC's name. What does the LLC need before doing brokerage business?
- A
Nothing, since Jo's broker license covers it
- B
Its own firm license with a qualifying broker
- C
Only a salesperson license for each LLC owner
- D
Only a business registration with the state
A business entity doing brokerage needs its own firm license and a qualifying broker. Jo's individual license does not automatically license every company Jo owns. The first option reflects that exact misunderstanding.
Mark each box only when you can perform the skill without looking.
I can define the term in one precise sentence.
I can separate it from the closest look-alike.
I can explain the Georgia rule or confirm that the national rule applies.
I can answer the practice check and explain every option.
PASS GEORGIA
REAL ESTATE EXAM PREPGEORGIA REAL ESTATE EXAM
GLOSSARY TERM GUIDEConnect the term to the wider exam
Use these relationships to move from isolated recall to a connected exam model.
State Laws and Rules complete lesson
https://www.passgeorgiarealestate.com/study-guide/georgia-laws-and-rules/license-types
Official exam administration and content-outline source.
https://test-takers.psiexams.com/api/content/bulletin/4672GREC's official portal to Title 43, Chapter 40 and related real estate laws.
https://grec.state.ga.us/information-research/license-law/Official Georgia Secretary of State publication of Commission rules governing licensure and brokerage.
https://rules.sos.ga.gov/gac/520-1