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Tennessee Real Estate Exam Prep Verified and 100% Correct Q & A, Complete Document for Exam
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Tennessee Real Estate Exam Prep Verified and 100% Correct Q & A, Complete Document for Exam
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TN Exam Prep TestEnter the letter for the matching Answer
1. Obey all lawful instructions of the client; A. qualification
Be loyal to the interests of the client;
Scheduling of all property showings; B. general agency
Receiving all offers and counter offers and
forwarding promptly to the client; C. testate
Answering any questions ; Advising the
D. contingency
client as to wh
2. The property that benefits from the E. recording
existence of an easement appurtenant.
The holder of the easement is the F. specific lien
dominant tenant. G. due on sale
3. An appraisal principle that holds that a
buyer will pay no more for a property than H. economic life
a buyer would pay for an equally desirable
and available substitute property. Forms I. closing
the foundation for the sales comparison J. substitution
approach to value.
4. A loan provision defining the lender's right K. mechanic's lien
to accelerate a note upon the transfer of
L. Implied Agency
collateralized property.
5. A fiduciary relationship which authorizes M. Duty owed to licensee's client
the agent to conduct a broad range of
activities for principal in a particular N. statute of limitations
business enterprise. May or may not O. air rights
include authority to enter into contracts.
6. A meeting of principal parties where a P. balloon payment
seller transfers title and a buyer pays
monies owed the seller and lender. Q. amortization
7. 1. An accounting entry representing a R. dominant tenement
claim against the assets of a business by
a creditor. 2. A condition of vulnerability to S. escrow
lawsuits seeking redress for potentially
T. liability
wrongful acts or statements.
8. A law which restricts the period during
which a damaged party may seek to
rescind or disaffirm a contract or take
other legal actions.
9. A trust or impound account used for the
property handling of funds and documents
in the closing of a real property
transaction. Account borrower establishes
to ensure that adequate funds will be
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