Page |1
Tennessee Timeshare Questions and
Correct Answers/ Latest Update / Already
Graded
When is a public offering statement not required?
Ans: During resale
Before a timeshare is a timeshare, it is a what?
Ans: Project
You can not indicate that a prospective tour has won a what?
Ans: Prize
Disclosure of everything related to a loan must be a stated in a what?
Ans: Truth of lending
What makes a contract valid?
Ans: An offer and acceptance, competent parties, legal
purpose, reality of consent, etc.
You can not misstate the value of what?
All rights reserved © 2025/ 2026 |
, Page |2
Ans: Gift
What is the cost for a original license and recovery fee?
Ans: $130
What are some of the prerequisites of licensing?
Ans: Honesty, 60 hrs of real estate education, 18 years or
older, must apply for license w/in 6 month of passing exams,
must not be on probation
On the federal level, the ______________ agency has taken the most
active regulating role relating to sales marketing
Ans: Federal Trade Commission
In order for a DEED to be valid what must happen?
Ans: Consideration and the grantor having legal authority to
execute DEED
The developer shall not be required to relate and distribute a public
offering statement if the developer has regulated and there has been
issued a public offering statement
All rights reserved © 2025/ 2026 |
, Page |3
Ans: Securities and Exchange Act of 1933 and Federal
Interstate Land Sales Full Disclosure Act
A timeshare contract is voidable by purchaser until:
Ans: 10 day rescission has passed and received public offering
statement
Before a developer can remove money from the Escrow Account, he
must
Ans: Construction, furnishings and landscape are substantially
complete
It is acceptable to tell a purchase that
Ans: They can exchange their week through an exchange
company (RCI)
A timeshare sale should be made on the basis of:
Ans: Vacation experience
Under the powers and duties of the commission, the commission does
not have the right to:
All rights reserved © 2025/ 2026 |
Tennessee Timeshare Questions and
Correct Answers/ Latest Update / Already
Graded
When is a public offering statement not required?
Ans: During resale
Before a timeshare is a timeshare, it is a what?
Ans: Project
You can not indicate that a prospective tour has won a what?
Ans: Prize
Disclosure of everything related to a loan must be a stated in a what?
Ans: Truth of lending
What makes a contract valid?
Ans: An offer and acceptance, competent parties, legal
purpose, reality of consent, etc.
You can not misstate the value of what?
All rights reserved © 2025/ 2026 |
, Page |2
Ans: Gift
What is the cost for a original license and recovery fee?
Ans: $130
What are some of the prerequisites of licensing?
Ans: Honesty, 60 hrs of real estate education, 18 years or
older, must apply for license w/in 6 month of passing exams,
must not be on probation
On the federal level, the ______________ agency has taken the most
active regulating role relating to sales marketing
Ans: Federal Trade Commission
In order for a DEED to be valid what must happen?
Ans: Consideration and the grantor having legal authority to
execute DEED
The developer shall not be required to relate and distribute a public
offering statement if the developer has regulated and there has been
issued a public offering statement
All rights reserved © 2025/ 2026 |
, Page |3
Ans: Securities and Exchange Act of 1933 and Federal
Interstate Land Sales Full Disclosure Act
A timeshare contract is voidable by purchaser until:
Ans: 10 day rescission has passed and received public offering
statement
Before a developer can remove money from the Escrow Account, he
must
Ans: Construction, furnishings and landscape are substantially
complete
It is acceptable to tell a purchase that
Ans: They can exchange their week through an exchange
company (RCI)
A timeshare sale should be made on the basis of:
Ans: Vacation experience
Under the powers and duties of the commission, the commission does
not have the right to:
All rights reserved © 2025/ 2026 |
