Agency and License Law Practice Question
Question
A property manager asks how a rule affects a rental property for the Georgia Real Estate Salesperson Exam involving record retention and Georgia Real Estate Commission. Which statement is most accurate for exam purposes? (Item 69)
Answer choices
- A. Understand transaction records must be maintained for required periods in a way that fits Georgia exam practice.
- B. The requirement matters only when the buyer obtains institutional financing.
- C. The affiliated licensee may handle the matter independently without broker responsibility.
- D. Local custom controls even when a statute, regulation, contract, or disclosure rule applies.
Correct Answer
A. Understand transaction records must be maintained for required periods in a way that fits Georgia exam practice.
Explanation
The correct answer is A because record retention requires candidates to understand transaction records must be maintained for required periods. The Georgia reference keeps the scenario tied to state licensing practice, while the other options rely on unsafe assumptions about oral custom, escrow, client preference, independent licensee authority, or ignoring written duties.
Question details
- Difficulty: easy
- Domain: Agency and License Law
- Objective: record retention