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TN Specific Real Estate Exam Questions with Solutions
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TN Specific Real Estate Exam
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TN Specific Real Estate ExamWhich of the following documents provides authority for a licensee to act as another party's agent in a real estate transaction?
a.) a facilitator agreement b.) an exclusive listing agreement c.) a transaction broker agreement d.) an agency disclosure agreement - answerb
A licensee who assists more than one party to a transaction with a specific written agency agreement is a.) a dual agent
b.) a subagent
c.) a limited agent
d.) a facilitator - answera
Which of the following is true regarding the Tennessee regulatory environment?
a.) Commissioners may only serve three consecutive terms
b.) at least two Commission members must be a racial minority c.) members are sourced from geographical zones called grand divisions
d.) at least two members must be at least 65 years of age - answerc
Licensees in the National Guard or armed forces receive which of the following exemptions from the CE requirements?
a.) if on active duty, members' licenses do not expire over the active duty term
b.) members receive an automatic one-year extension of the CE completion deadline
c.) licensees are exempt from the CE requirements whether on active or inactive duty
d.) licenses that expire during active service are renewable upon completion of service without fees or CE completion - answerd
Which of the following statements regarding Tennessee continuing education is true?
a.) Brokers may take CE courses offered in any state in the country if a similar course is
offered in Tennessee
b.) Brokers must take 4 hours of "core" education each renewal period
c.) Affiliate brokers must complete 8 hours of CE during he initial license period d.) Broker licensees must complete 16 hours during the two-year renewal period - answerd
Timeshare program registration is effective for ________________ , after which it ________________ .
a.) two years; terminates. b.) one year; cannot be renewed.
c.) one year; must be renewed.
d.) two years; must be renewed. - answerc
Which of the following statements regarding records is consistent with TN license laws?
a.) licensees must provide principals with copies of transaction documents within 3 days
of execution.
b.) critical transaction documents such as the sales contract must be maintained as an electronic record, but a printed copy must also be retained for 3 years.
c.) the broker must allow the Commission access to records within 24 hours of the request.
d.) records must be retained for at least 2 years. - answerc
Which of the following is NOT a requirement for a branch office?
a.) it must have a firm license.
b.) it must conform with zoning ordinances.
c.) it must be an office property with a conspicuous sign.
d.) it must be a fixed location. - answerc
Licensees are often employed by other licensees as assistants. Which of the following is true regarding licensed assistants?
a.) they cannot perform licensed activities b.) the hiring licensee must have a written agreement with the broker
c.) the assistant must be compensated by the hiring licensee in a timely manner
d.) only the broker may compensate the licensed assistant - answerd
A licensee wants to sell her principal residence. To complete this transaction properly, the licensee
a.) must list the property with her broker
b.) cannot list or transact in her own name without prior notice to the broker
c.) must sell the property by-owner, or without listing it with any firm
d.) may not disclose her licensed statues to any prospective buyer - answerb
The Residential Property Condition Disclosure is required for which of the following?
a.) a property sold under an installment land sales contract
b.) a newly constructed, never-occupied property
c.) a small, neighborhood office building
d.) an eight-unit apartment building - answera
Homeowner associations must disclose certain information to prospective buyers upon request. Such information includes which of the following?
a.) bylaws, rules and regulations
b.) special assessments and hiring policies
c.) covenants and salaries
d.) membership lists and contract data - answera
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