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FINAL EXAM TN REAL ESTATE COURSE QUESTIONS AND ANSWERS 2024
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FINAL EXAM TN REAL ESTATE COURSE QUESTIONS AND ANSWERS 2024
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FINAL EXAM TN REAL ESTATE COURSEQUESTIONS
When entering into an Exclusive Buyer Representation Agreement, the licensee
must advise the buyer in writing that - ANSWERS-the buyer should contact only
the licensee to arrange property viewings.
Which of the following statements is false? - ANSWERS-An agent may enter into a
legally binding oral agency relationship with a client.
Which of the following conditions is necessary to show reasonable cause for
soliciting a referral fee from another licensee? - ANSWERS-There must be a
subagency, referral, or cooperative relationship between the licensees.
In order to have a buyer agency relationship with a buyer, a licensee must -
ANSWERS-obtain a written agency agreement from the buyer.
In practice, if a licensee is a facilitator, which of the following is true? - ANSWERS-
There is not a signed agency agreement with the seller or buyer.
Which of the following is NOT a general duty of a property manager? - ANSWERS-
Performing a property appraisal to determine value and income potential
,What is a possible problem If the date of possession and date of closing are not
the same? - ANSWERS-The title cannot be transferred at the time of closing.
Which of the following statements is true? - ANSWERS-An agency relationship
does not require compensation or other consideration.
A license is issued on September 1 of the current year. When will it expire if not
renewed? - ANSWERS-September 1 two years from this year
What was the first legislation to prevent discrimination in residential properties
financed by FHA and VA loans? - ANSWERS-Executive Order 11063 of 1962
Which of the following is a valid exemption from the property condition
disclosure? - ANSWERS-Deed transfer in lieu of foreclosure
How long does a person have after an alleged violation of Tennessee fair housing
law to file a written complaint? - ANSWERS-180 days
NAR guidelines do not address - ANSWERS-issues of courtesy or etiquette.
Broker Harding requires all of his buyers to sign offers with the stipulation that
they will use Acme Home Inspection Services. This practice is called a - ANSWERS-
tying arrangement.
, An agreement between a seller and buyer for the purchase of a property where
payment of the sale price is deferred is called a(n) - ANSWERS-contract for deed.
A Tennessee licensee must use the "Exclusive Right to Sell" form - ANSWERS-
required by the licensee's broker.
According to the level of authority delegated to the agent, the usual real estate
agency is a - ANSWERS-limited agency.
When must the contract be in writing? - ANSWERS-John is agreeing to sell his
shed to Shawn for $1,000.
One disadvantage in using active listings for comparables is - ANSWERS-they
provide somewhat dubious comparisons because listing prices are not selling
prices.
Why is it sometimes necessary to include a bill of sale with a purchase contract? -
ANSWERS-A bill of sale confirms that all promised inclusions are in fact part of the
conveyance.
Prior to the acceptance of a purchase contract, the seller must provide the buyer
with a written property condition disclosure if - ANSWERS-the property is a
residential property of less than 5 units.
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