Tennessee license law - Study guides, Class notes & Summaries

TIES - Answer Statewide communications network to help the exchange of information regarding crimes NCIC - Answer National Crime Information Center National Crime Information Center - Answer Nationwide information system established to help criminal justice agencies NLETS - Answer National Law Enforcement Telecommunications System National Law Enforcement Telecommunications System - Answer the international justice and public safety network TIES Net - Answer A secure site to provi...

MPOETC CERTIFICATION TEST/151 QUESTIONS AND ANSWERS (A+) 1st Amendment (1791) - √Answer :Freedom of speech, religion and press and the right to petition Quiz :2nd Amendment (1791) - √Answer :Right to bear arms Quiz :3rd Amendment (1791) - √Answer :The government may not house soldiers in private homes without consent of the owner Quiz :4th Amendment (1791) - √Answer :Freedom from unreasonable search and seizures Quiz :5th Amendment (1791) - √Answer :Double jeopardy, ...

Tennessee License Law Questions and Answers Rated A+ The Human Rights Act exists to ensure that federal civil rights laws are carried out. What are the primary sources of laws and regulations governing real estate licensees in Tennessee? The Tennessee Real Estate License Act and the Commission rules. Which of the following is a section in the License Act? Qualifications and licensing What is a Commission policy statement? An occasional amplification that becomes part of the rule...

Tennessee License Law Questions and Answers Already Passed The Human Rights Act exists to ensure that federal civil rights laws are carried out. What are the primary sources of laws and regulations governing real estate licensees in Tennessee? The Tennessee Real Estate License Act and the Commission rules. Which of the following is a section in the License Act? Qualifications and licensing What is a Commission policy statement? An occasional amplification that becomes part of th...

Tennessee License Law Enforcement Overview with Complete Solutions TREC may impose a civil penalty on unlicensed persons of up to what amount per violation per day? A) $3,000. B) $1,000. C) $4,000. D) $2,000. B) $1,000. Regarding E&O coverage for the firm, A) the minimum coverage must be at least $1,000,000. B) the amount of coverage is determined by the number of affiliated licensees. C) E&O coverage is not required, but bonding is. D) E&O coverage is not required. D) E&O co...

Tennessee Real Estate License Law Questions and Answers Graded A+ Never When is it legal for the commission to set real estate commisions? An unlicensed person who receives payment for performing an activity requiring licensure is liable for Up to three times the amount of the payment received. How is the Real Estate Recovery Fund funded? By fees paid by applicants for license and license renewal. What is the dollar limit of the additional license renewal fee that goes toward the ...

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 purchase or negotiate the sale of property in which the licensee will have a future interest. Yes, because the licensee did not disclose his possible future interest to the seller. No, because a licensee...

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 estate transactions at the new firm? After transmitting the proper form and fees to the Commission What does an affiliate broker have to do to change affiliation from one broker to another? ...

Tennessee License Law Questions and Answers Already Passed What is the purpose of the Commission rules? To enable the Commission to carry out its duties under the License Act Which law regulates the sale and promotion of vacation clubs? The Summer Act of 1967 The Tennessee Vacation Club Act of 1995 The Lake and Stream Act of 1995 The Vacations Act of 1988 The Tennessee Vacation Club Act of 1995 Which of the following is a section in the License Act? Obtaining listings Of...

A Tennessee licensee must use the "Exclusive Right to Sell" form required by the licensee's broker. According to the level of authority delegated to the agent, the usual real estate agency is a limited agency. When must the contract be in writing? John is agreeing to sell his shed to Shawn for $1,000. One disadvantage in using active listings for comparables is they provide somewhat dubious comparisons because listing prices are not selling prices. Why is it sometimes necessary to inclu...

The Human Rights Act exists to ensure that Correct Answer: federal civil rights laws are carried out. What are the primary sources of laws and regulations governing real estate licensees in Tennessee? Correct Answer: The Tennessee Real Estate License Act and the Commission rules. Which of the following is a section in the License Act? Correct Answer: Qualifications and licensing What is a Commission policy statement? Correct Answer: An occasional amplification that becomes part of the r...

The Human Rights Act exists to ensure that Correct Answer: federal civil rights laws are carried out. What are the primary sources of laws and regulations governing real estate licensees in Tennessee? Correct Answer: The Tennessee Real Estate License Act and the Commission rules. Which of the following is a section in the License Act? Correct Answer: Qualifications and licensing What is a Commission policy statement? Correct Answer: An occasional amplification that becomes part of the r...