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TN Exam Prep Quiz 89 questions and answers | accurate and verified with rationales | updated 2024 | graded A+ | guaranteed pass $7.99   Add to cart
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TN Exam Prep Quiz 89 questions and answers | accurate and verified with rationales | updated 2024 | graded A+ | guaranteed pass
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  • Tennessee Real Estate Prep

TN Exam Prep Quiz 89 questions and answers | accurate and verified with rationales | updated 2024 | graded A+ | guaranteed pass

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  • August 6, 2024
  • 16
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • Tennessee Real Estate Prep
  • Tennessee Real Estate Prep

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TN Exam Prep Quiz
Circle the letter of the Answer that corresponds to the displayed Question.
1. A court proceeding which gives a creditor legal title to a liened property rather than cash proceeds from
a court-ordered sale.
A. grantor
B. 7
C. general lien
D. strict foreclosure


2. A federal law which aims to standardize settlement practices and ensure that buyers understand
settlement costs. Applies to purchase of residential real estate (one to four family homes) to be financed
by "federally related" first mortgage loans. Requires
A. Real Estate Settlement Procedures Act (RESPA)
B. co-brokerage
C. servient tenement
D. equity of redemption


3. The origination and termination point in a metes and bounds legal description.
A. subordination
B. point of beginning (POB)
C. economic life
D. severance


4. Rights of a property that abuts a body of water to own or use the water.
A. credit evaluation
B. water rights
C. securities license
D. depreciable basis


5. Residential, Commercial, Industrial, Agricultural, Special Purpose
A. party wall easement
B. classifications of real estate by use in Tennessee
C. commissioners appointed by the Governor
D. null and void


6. A court proceeding to clear a property's title of defects, claims and encumbrances.
A. misrepresentation
B. quiet title suit
C. condemnation
D. tenancy by the entireties

,7. A widower's (husband) life estate claim to portions of his deceased spouse's (wife) real property. Not in
Tennessee.
A. income ratio
B. oral vs. written contracts
C. curtesy
D. Federal Housing Administration (FHA)


8. Forced performance of one's obligations in a agreement, to the letter of the agreement. A legal remedy
for a damaged party to take against a defaulting party.
A. present value
B. appraiser
C. broker
D. specific performance


9. "Personal representative's deed
A. conveyance
B. interest
C. executor to convey decedent's estate
D. title theory state


10. The property that benefits from the existence of an easement appurtenant. The holder of the
easement is the dominant tenant.
A. life estate
B. point of beginning (POB)
C. color of title
D. dominant tenement


11. Fulfillment of the terms of a contract.
A. offer and acceptance
B. performance
C. = 43,560 sq. ft.
D. laws of decent and distribution


12. Direct investment without the intermediation of a bank or other depository institution to make loans
and other investments.
A. disintermediation
B. deed in trust
C. plat
D. origination fee


13. A public notice in a foreclosure proceeding that the mortgaged property may soon have a judgment
issued against it. Enables other investors to join in the proceeding if they wish to collect their debts.
A. documentary stamp
B. buydown

, C. real estate investment trust (REIT)
D. lis pendens
14. "Lenders, investors, and government agencies who buy, sell, insure, or guarantee existing
mortgages, mortgage pools, and mortgage-backed securities. Fannie Mae, Freddie Mac, Ginnie Mae
A. liquidated damages
B. Warrant of encumbrances
C. fair housing laws
D. Secondary mortgage markets


15. A parcel of property lacking legal access to a public thoroughfare; requires a court-ordered easement
by necessity to relieve the condition.
A. mortgage financing
B. landlocked
C. arrears
D. estoppel


16. Excessive or illegal interest charged on a loan.
A. tenancy in severalty
B. reversion
C. usury
D. public grant


17. TREC - Any licensee who assists one or more parties to a transaction who has not entered into a
specific written agency agreement representing one or more of the parties.
A. third party trustee as collateral for a a loan
B. facilitator / transaction broker
C. client
D. Federal National Mortgage Association (Fannie Mae)


18. Laws that protect a homeowner against loss of the homeowner's principle residence to a sale forced
by creditors to collect debts. Also protect the interests of individual spouses by requiring both spouses to
sign any conveyance of the homestead property.
A. dual agency
B. commissioners appointed by the Governor
C. salesperson
D. homestead laws


19. Inducing property owners to sell or rent their holdings due to an impending downturn in their property
values, often owing to a change in the area's ethnic or social composition.
A. loan commitment
B. blockbusting
C. Institute of Real Estate Management
D. purchase money mortgage

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