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Tennessee State Practice Exam Questions with 100% Correct Answers | Updated & Verified | 2024
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Tennessee State Practice Exam Questions with 100% Correct Answers | Updated & Verified | 2024
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Tennessee State Practice ExamQuestions with 100% Correct Answers |
Updated & Verified | 2024
The Tennessee Real Estate Broker License Act of 1973 protects consumers against real estate licensees who
______. ✔✔Use lies, misrepresentations, fraud, or other deceptive practices or acts to advertise or
sell real estate
All funds entrusted to a Tennessee licensee on behalf of another party in the practice of real estate
are by definition __________. ✔✔trust funds
Derek made an on-site inspection of the timeshare project prior to signing the contract. He signed the
contract, but is having second thoughts. In Tennessee, how many days does Derek have to cancel the
contract? ✔✔10 days.
The contract is voidable by the buyer until receipt of the public offering statement, and for 10 days after
signing the contract if the buyer made an on-site inspection of the timeshare project prior to signing.
Whose responsibility is it to ensure that a prospective buyer receives a copy of the Tennessee
Residential Property Condition Disclosure prior to the buyer making a written offer to the seller?
✔✔The buyer's agent
What is creed? ✔✔any system, doctrine, or formula of religious belief, as of a denomination
,TREC must operate in accordance with what act? ✔✔The Uniform Administrative Procedures Act
Brokerage documents that the Tennessee Real Estate Commission requests must be produced within
______ of the request. ✔✔24 hours
What's the name for someone providing general assistance to a buyer and/or seller, but not serving as
a legal representative? ✔✔Facilitator
What's the term length for a member of the Tennessee Real Estate Commission? ✔✔Five years
For residential property managers dealing with prospective tenants in Tennessee, their responsibilities
include checking ______. ✔✔references
In Tennessee, what's the pre-licensing education requirement for affiliate brokers? ✔✔90 hours
What responsibility does a broker have when a licensee wants to change brokerages?
✔✔Immediately sign TREC's Transfer, Release and Change of Status Form to release the licensee.
Which of the following is required on any Tennessee real estate advertising?
A) Business name and office phone number
B) Personal contact information
C) Personal photo
D) Sales volume ✔✔A) Business name and office phone number
, The protected classes under Tennessee's fair housing law are ______. (Hint: there are 8) ✔✔Race, color,
religion, national origin, creed, sex, familial status, and disability
Tennessee buyers may provide assurance they won't back out of the sale by offering to deposit ______
money that will be kept in escrow until the conditions are met at closing. ✔✔earnest
TREC can't be held legally responsible for damages if a consumer sues the commission. This gives TREC
immunity from ______. ✔✔Civil liability
What needs to happen before a Tennessee licensee can legally offer gifts or prizes for the inducement
of real estate sales or purchases? ✔✔The licensee must obtain the principal broker's approval.
What is a trustor in real estate? ✔✔The borrower under a deed of trust
What is a trustee in real estate? ✔✔A neutral third-party who holds the legal title to a property until
the borrower pays off the loan in full
Margot is pursuing her Tennessee real estate salesperson license, but only her grandmother calls her
Margot. She'd instead like to advertise and be licensed under her nickname, Peggy. How she can do
this? ✔✔She must include her nickname on her salesperson license application in order to advertise
using her nickname.
A real estate licensee is assisting a buyer client with the purchase of a retail strip mall. What's the
appropriate Tennessee Association of REALTORS® (TAR) form for this licensee to use? ✔✔CF 401
Commercial Purchase and Sales Agreement
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