Georgia real estate exam, checked against the bulletin

Incorrect: A title examiner searches the record for liens and defects; neither the examiner nor the salesperson interprets deed provisions for a party.

Incorrect: Calling the terms standard steers the buyer's decision on a legal document instead of getting the question answered.

Incorrect: The lender's side drafted the instrument and does not advise the borrower on its meaning; the closing attorney is the right referral.

Incorrect: Explaining the legal effect of an instrument is legal advice, which a salesperson's license does not cover.

Correct: What a provision of a security deed legally means is a legal question; at a Georgia closing the attorney conducting it is the person to answer it.

Incorrect: Paying interest alone does not cure a default on the whole debt; it does not stop a properly noticed sale.

Incorrect: The borrower already agreed to the power of sale by signing the security deed; no new consent is needed at default.

Incorrect: No prior court approval is needed to exercise a power of sale; a court looks at the sale only if the lender later seeks a deficiency judgment.

Correct: A power of sale lets the lender foreclose by a public sale outside court, after the notice and advertising the law requires.

Incorrect: Court action is not needed when the security deed grants a power of sale, which is why most Georgia foreclosures are nonjudicial.

Incorrect: An instrument given to secure a debt is expressly exempt from the transfer tax under O.C.G.A. 48-6-2(a)(1).

Incorrect: A $400,000 sale financed with a $300,000 long-term loan triggers both taxes; nothing in the facts creates an exemption.

Incorrect: The intangible tax is measured by the note, so it applies only to the instrument securing it, not to the warranty deed.

Incorrect: This swaps the two taxes: the deed carries the transfer tax and the security deed carries the intangible tax.

Correct: Georgia's transfer tax (O.C.G.A. 48-6-1) is charged on the deed that conveys the property; the intangible recording tax (48-6-61) is charged on the security instrument for a long-term note.

Incorrect: A local standard cannot authorize what the statute prohibits; the license law applies the same way in every market.

Incorrect: Reasonableness is not the test for a listed unfair practice, and there is no five-year rule.

Incorrect: Whether anyone complained before has nothing to do with whether the conduct breaks the statute.

Incorrect: Georgia law has no time-based exemption for customary conduct; the ten-year rule is invented.

Correct: The unfair trade practices in O.C.G.A. 43-40-25(b) are prohibited outright; how long or how widely a practice has been used is not a defense.