TN Timeshare Exam Practice Test Questions With Complete Solutions
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Course
Tennessee Timeshare License
Institution
Tennessee Timeshare License
What is the Tennessee Real Estate Commission? correct answer: Judicial body of real estate industry in TN
Following discriminatory practice, you should make a complaint with ____ days. correct answer: 180
What is a timeshare estate? correct answer: Ownership or leasehold estate in property...
TN Timeshare Exam Practice Test Questions
With Complete Solutions
What is the Tennessee Real Estate Commission? correct answer:
Judicial body of real estate industry in TN
Following discriminatory practice, you should make a complaint
with ____ days. correct answer: 180
What is a timeshare estate? correct answer: Ownership or leasehold estate in property devoted to a timeshare fee, tenants in common, time span ownership, interval ownership, and a time
share lease.
What is an acquisitions agent? correct answer: Licensed and attempts directly to encourage any person to attend a sales presentation for a timeshare program
What is a purchaser? correct answer: Anyone who buys timeshare
What is an exchange agent? correct answer: An agent for an exchange program
What is a sales agent? correct answer: Person acting as a seller of any Time Share contract (only sell under specific time share developer) Anyone who sells timeshare. What is a person that sells more than 5 timeshares a year that are
not their own? correct answer: Timeshare resale broker
What is a unit?` correct answer: Real property improvements in a project which is divided into timeshare program.
What is a managing agent? correct answer: Person with management duties and responsibilities and obligations of a timeshare program
What are timeshare units? (what can be a timeshare) correct answer: Anything can be a timeshare unit unless expressly prohibited by project instruments or local governing laws
What should be included in the Public Offering Statement? correct answer: name of county where property is located
legal description of property ID of time periods by letter, name and number
ID of timeshare estates and how many units can be a timeshare
Common expenses and voting rights any restrictions on use occupancy alterations or alienation of timeshare units
ownership interest/maintenance provisions/ replacement
____ must be provided to each purchaser of a timeshare. correct answer: Public Offering statement
When must you give a public offering statement? What is the exception? correct answer: Must be provided to each purchaser of a timeshare . EXCEPTION: developer was registered and
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