A COMPREHENSIVE PACKAGE DEAL FOR AFFILIATE BROKER EXAMS|ALL YOU NEED TO KNOW|100% PASS

the type of listing contract that a seller gives to one firm yet the seller retains the right to find a buyer him/herself and not pay a commission is a(an) Exclusive agency agreement a listing broker is usually what a ________ agent. a special agent the written agreement between the ...

A woman passed the affiliate broker examination and is eager to begin listing and selling homes. What can she do? Apply for a license on the forms provided by the TREC and wait to receive it. A broker has several branch offices. Which is true regarding the management? Each branch office mus...

How long does a licensee changing affiliation have to complete required procedures with the Commission? 10 Days From whom may an affiliate broker receive compensation? From the broker he or she is affiliated with When may a licensee who has changed affiliation begin to engage in real...

Definition of Brokerage The bringing together of parties interested in making a real estate transaction. What is Agency? The relationship between a principal and an agent. Usually a property owner and a real estate broker. What is a Single Agency? A broker who represents only one cl...

Which of the following is a violation of federal fair housing law? A) A landlord refuses to rent to anyone under the age of 30. B) A private homeowner advertises a private house share using the phrase: "No minorities." C) private homeowner lives in a duplex and won't rent the other half to a...

Broker Person or company licensed to sell buy exchange or lease real property for others and to charge a fee for those services Salesperson (affiliate broker) Employed by or associated with the broker to perform brokerage activities on behalf of the broker Appraisal Assessing a prop...

Once an agency has been terminated, the obligation of confidentiality continues forever. If a buyer signs an exclusive buyer agency agreement with real estate agent A, then purchases a property directly from real estate agent B, which of the following is TRUE? It is likely that B did not as...

Affiliate broker Oscar discriminates, in violation of the Tennessee Human Rights Act, and also uses an earnest money check for personal use. Oscar's managing broker, Aidan, is unaware of these illegal activities. When the Commission finds out about Oscar's actions, what will be the impact on Aidan...

Tennessee Affiliate Broker License Exam Flashcards exam with 100% correct answersCapitalization The process of calculating the present worth of a property on the basis of its capacity to continue to produce an income stream Economic age Age of a building determined by its condition an...

Seller's Agent Works only on behalf of the seller to promote their interests Buyer's Agent Works only on behalf of the buyer to promote their interests Exclusive Listing A listing agreement that entitles the broker to a commission if any including the seller finds a buyer for the ...

The 4 unities of possession, interest, time & title are associated with? Joint tenancy Two friends purchased property with a deed that transferred the property without further explanation. They took title as which of the following? Tenants in common 3 people are joint tenants with ri...

TN RE laws and regulations are primarily contained in: 1. The TN RE Broker Act of 1973 2. Rules of the TN RE CommissionUni Other laws relevant to RE licensees include: Uniform Landland and Tenant Act Horizontal Propert Act Notice of Completion Statute TN Lead-based Paint Certification A...

In order for there to be an agency in Tennessee, law requires there be a A) verbal agreement between the client and the affiliate broker. B) written and signed bilateral agreement. C) signed confirmation of agency form. D) written and signed unilateral agreement. B) written and signed bilater...

A licensee negotiates the sale of a home intended for his fiancée and himself. He properly identifies himself as a licensee to the seller but neglects to disclose that he is getting married to the buyer. Do the actions of the licensee violate the license law? Yes, because a licensee cannot purch...

real estate Includes land plus improvements and appurtenances, which include rights, privileges, and fixtures 1. Surface rights 2. Air rights 3. Subsurface rights, including mineral Personal Property Everything that is not real estate 1. To transfer, must be in the Purchase and Sale...

The land description T3N, R4W Principal Meridian refers to what method of property description? Rectangular Survey Two lots the same size are sold on a street the lot on the corner sells for $20,000 more than the lot in the middle of the street. Which of the following characteristics most li...

Deed a written and signed document that transfers legal title to real property from the seller to the buyer. Not required to be recorded. only to be delivered. Parties to a deed grantor (seller) grantee (buyer) Executed deed passing of the deed Who signs the deed? the granto...

What action should the seller take when an offer is rejected? Make a formal counter offer. Complete a contract rider. Complete an addendum. Note the rejection on the offer. Note the rejection on the offer. Which of the following requires a written contract? The purchase of a TV for ...

The State Regulator of real estate licensees The Tennessee Real Estate Commission Enacts rules addressing professional conduct, conducts hearings concerning violations of the Act, imposes penalties, and administers a Real Estate Recovery Fund to protect the public The Tennessee Real Estate ...

A lien is an example of a/an...? - Encumbrance - Entitlement - Estoppel - Escheatment Encumbrance If a property has both a tax lien and a mortgage lien against it, which lien has priority (generally speaking)? - Tax lien - Mortgage lien - They have equal priority - Whichever lien...

What are littoral rights concerned with? Properties adjacent to non-moving bodies of water. Which of the following is NOT part of the bundle of rights? To steal property. Which of the following is a simple definition of real estate? Real estate is that it is air, water, land, and ev...

To become a designated agent, one must be A) appointed as such by the managing broker. B) a dual agent. C) at least 21 years old and licensed. D) a member of the National Association of REALTORS®. A An affiliate broker wishes to retire her license. Prior to that action, she must ...

TN New Affiliate Broker unit 1 test exam with 100% correct answers

Commissions are established by negotiation between the client/customer and broker. usually a % of the sales price. Must be incl in the listing agreement or buyer's representation agreement. Each broker's office will decide the exact amount. Diff rates for diff types of sales. A broker has ...

Class B Misdemeanor What an accused is charged with for practicing real estate without a license. unders tate law treble damages Being made to pay back up to three times the penalty. There are 21 violations listed in the law that can result in disciplinary action: aking any subst...

The type of contract where a seller employs one real estate firm to find a buyer for the seller's property; yet the seller retains the right to find a buyer himself/herself and not pay a commission to the listing firm is a(an)? A. Exclusive right to sell agreement B. Exclusive agency agreement C...