TENNESSEE LICENSE LAW EXAMS SCRIPT 2026/2027
QUESTIONS AND SOLUTIONS RATED A+
✔✔When do licenses expire? - ✔✔Two years from the date of issue or renewal
✔✔A licensee's license may be suspended or revoked if - ✔✔A court rules that a
licensee's actions have injured a complaining party.
✔✔Persons who hold firm licenses have - ✔✔the option of carrying an individual policy.
-The Commission requires that every licensee carry Errors and Omissions insurance.
However, persons holding firm licenses have the option of carrying firm insurance in
addition to the policies for individuals in the firm.
✔✔The real estate firm Weeks and Associates is registered with the Commission. What
is permissible on their signage? - ✔✔Weeks and Associates
✔✔Which of the following is a requirement for license renewal? - ✔✔Proof of Errors and
Omissions insurance coverage
✔✔A Tennessee licensee who holds a nonresident license issued in another state must
file copies of the license - ✔✔with the principal broker and the Real Estate Commission.
✔✔How long does a licensee changing affiliation have to complete required procedures
with the Commission? - ✔✔10 Days
✔✔How far may a licensee who is not a property manager live from the firm office? -
✔✔50 miles
✔✔What does an affiliate broker have to do to change affiliation from one broker to
another? - ✔✔Obtain a signed release form from the current principal broker.
✔✔Under what circumstances will the Commission resolve a commission dispute? -
✔✔Never
✔✔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
✔✔To whom may a broker pay a commission? - ✔✔A licensed individual or firm
✔✔Under what circumstances may a licensee changing affiliation use listings secured
through the original firm? - ✔✔Only when specifically authorized by the original principal
broker
, ✔✔What must an office have before an affiliate broker can engage in real estate
activities there? - ✔✔A qualified principal broker
✔✔To seal a deal, licensee Jake frequently gives a client a set of golf clubs if he or she
lists with him. What can be said about this strategy? - ✔✔Jake must have firm approval
and full disclosure for gifts to be legal.
✔✔Whose written permission is necessary before a licensee may post a "for sale" sign
on a property? - ✔✔The owner's or owner's agent's
✔✔If a licensee wants to use a trade name on transaction-related documents, what
information must be clearly indicated? - ✔✔That the office is independently owned and
operated
-A licensee using a trade name on business cards, contracts, or other documents
relating to real estate transactions must clearly indicate his or her name, the firm
telephone number, and that the office is independently owned and operated.
✔✔The term REALTOR - ✔✔applies to NAR membership. It is unlawful to use the term
if you are not a member.
✔✔What is a possible penalty for a licensee who advertises as a Realtor without being
a member of the National Association of Realtors? - ✔✔Suspension or revocation of
license
✔✔Who must directly supervise all advertising for a firm? - ✔✔The principal broker
✔✔If a web site displays "thumbnails" of MLS listings, what disclaimer must be
included? - ✔✔That the listings may not belong to the firm whose web site is being
viewed
✔✔A web site that provides access to MLS listings without leaving the site must -
✔✔include the web site owner's firm name and telephone number on every page.
✔✔Time-share firms must allow Commission access to records - ✔✔at all times.
✔✔In real estate transactions, the term "promptly" means - ✔✔the same day received.
✔✔Preparing which of the following documents would expose a real estate licensee to a
charge of practicing law without a license?
-A listing agreement
-A sworn statement
-A deed
QUESTIONS AND SOLUTIONS RATED A+
✔✔When do licenses expire? - ✔✔Two years from the date of issue or renewal
✔✔A licensee's license may be suspended or revoked if - ✔✔A court rules that a
licensee's actions have injured a complaining party.
✔✔Persons who hold firm licenses have - ✔✔the option of carrying an individual policy.
-The Commission requires that every licensee carry Errors and Omissions insurance.
However, persons holding firm licenses have the option of carrying firm insurance in
addition to the policies for individuals in the firm.
✔✔The real estate firm Weeks and Associates is registered with the Commission. What
is permissible on their signage? - ✔✔Weeks and Associates
✔✔Which of the following is a requirement for license renewal? - ✔✔Proof of Errors and
Omissions insurance coverage
✔✔A Tennessee licensee who holds a nonresident license issued in another state must
file copies of the license - ✔✔with the principal broker and the Real Estate Commission.
✔✔How long does a licensee changing affiliation have to complete required procedures
with the Commission? - ✔✔10 Days
✔✔How far may a licensee who is not a property manager live from the firm office? -
✔✔50 miles
✔✔What does an affiliate broker have to do to change affiliation from one broker to
another? - ✔✔Obtain a signed release form from the current principal broker.
✔✔Under what circumstances will the Commission resolve a commission dispute? -
✔✔Never
✔✔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
✔✔To whom may a broker pay a commission? - ✔✔A licensed individual or firm
✔✔Under what circumstances may a licensee changing affiliation use listings secured
through the original firm? - ✔✔Only when specifically authorized by the original principal
broker
, ✔✔What must an office have before an affiliate broker can engage in real estate
activities there? - ✔✔A qualified principal broker
✔✔To seal a deal, licensee Jake frequently gives a client a set of golf clubs if he or she
lists with him. What can be said about this strategy? - ✔✔Jake must have firm approval
and full disclosure for gifts to be legal.
✔✔Whose written permission is necessary before a licensee may post a "for sale" sign
on a property? - ✔✔The owner's or owner's agent's
✔✔If a licensee wants to use a trade name on transaction-related documents, what
information must be clearly indicated? - ✔✔That the office is independently owned and
operated
-A licensee using a trade name on business cards, contracts, or other documents
relating to real estate transactions must clearly indicate his or her name, the firm
telephone number, and that the office is independently owned and operated.
✔✔The term REALTOR - ✔✔applies to NAR membership. It is unlawful to use the term
if you are not a member.
✔✔What is a possible penalty for a licensee who advertises as a Realtor without being
a member of the National Association of Realtors? - ✔✔Suspension or revocation of
license
✔✔Who must directly supervise all advertising for a firm? - ✔✔The principal broker
✔✔If a web site displays "thumbnails" of MLS listings, what disclaimer must be
included? - ✔✔That the listings may not belong to the firm whose web site is being
viewed
✔✔A web site that provides access to MLS listings without leaving the site must -
✔✔include the web site owner's firm name and telephone number on every page.
✔✔Time-share firms must allow Commission access to records - ✔✔at all times.
✔✔In real estate transactions, the term "promptly" means - ✔✔the same day received.
✔✔Preparing which of the following documents would expose a real estate licensee to a
charge of practicing law without a license?
-A listing agreement
-A sworn statement
-A deed
