TENNESSEE TIMESHARE EXAM PREP SCRIPT
2026 FULL QUESTION SET APPROVED
◉ Before a timeshare is a timeshare, it is a what? Answer: Project
◉ You can not indicate that a prospective tour has won a what?
Answer: Prize
◉ Disclosure of everything related to a loan must be a stated in a
what? Answer: Truth of lending
◉ What makes a contract valid? Answer: An offer and acceptance,
competent parties, legal purpose, reality of consent, etc.
◉ You can not misstate the value of what? Answer: Gift
◉ What is the cost for a original license and recovery fee? Answer:
$130
◉ What are some of the prerequisites of licensing? Answer: 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 Answer: Federal
Trade Commission
◉ In order for a DEED to be valid what must happen? Answer:
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 Answer: Securities and
Exchange Act of 1933 and Federal Interstate Land Sales Full
Disclosure Act
◉ A timeshare contract is voidable by purchaser until: Answer: 10
day rescission has passed and received public offering statement
◉ Before a developer can remove money from the Escrow Account,
he must Answer: Construction, furnishings and landscape are
substantially complete
◉ It is acceptable to tell a purchase that Answer: They can exchange
their week through an exchange company (RCI)
, ◉ A timeshare sale should be made on the basis of: Answer:
Vacation experience
◉ Under the powers and duties of the commission, the commission
does not have the right to: Answer: Use the amenities at will
◉ A public offering statement to be valid must be: Answer: Signed
and dated
◉ Any timeshare installment share must provide all disclosures
required by the: Answer: Federal Truth of lending
◉ In direct mail, the envelopes and contents under the ARDHA code
of standards and ethics may not imply that they originate from a:
Answer: Public utility, credit bureau, and law office
◉ The industry code of standards and ethics applies to Answer: The
developer and marketer
◉ Any rescission rights of the consumer may be disclosed at or
before closing. Rescission rights may: Answer: Not be waived
2026 FULL QUESTION SET APPROVED
◉ Before a timeshare is a timeshare, it is a what? Answer: Project
◉ You can not indicate that a prospective tour has won a what?
Answer: Prize
◉ Disclosure of everything related to a loan must be a stated in a
what? Answer: Truth of lending
◉ What makes a contract valid? Answer: An offer and acceptance,
competent parties, legal purpose, reality of consent, etc.
◉ You can not misstate the value of what? Answer: Gift
◉ What is the cost for a original license and recovery fee? Answer:
$130
◉ What are some of the prerequisites of licensing? Answer: 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 Answer: Federal
Trade Commission
◉ In order for a DEED to be valid what must happen? Answer:
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 Answer: Securities and
Exchange Act of 1933 and Federal Interstate Land Sales Full
Disclosure Act
◉ A timeshare contract is voidable by purchaser until: Answer: 10
day rescission has passed and received public offering statement
◉ Before a developer can remove money from the Escrow Account,
he must Answer: Construction, furnishings and landscape are
substantially complete
◉ It is acceptable to tell a purchase that Answer: They can exchange
their week through an exchange company (RCI)
, ◉ A timeshare sale should be made on the basis of: Answer:
Vacation experience
◉ Under the powers and duties of the commission, the commission
does not have the right to: Answer: Use the amenities at will
◉ A public offering statement to be valid must be: Answer: Signed
and dated
◉ Any timeshare installment share must provide all disclosures
required by the: Answer: Federal Truth of lending
◉ In direct mail, the envelopes and contents under the ARDHA code
of standards and ethics may not imply that they originate from a:
Answer: Public utility, credit bureau, and law office
◉ The industry code of standards and ethics applies to Answer: The
developer and marketer
◉ Any rescission rights of the consumer may be disclosed at or
before closing. Rescission rights may: Answer: Not be waived
