Real Estate Broker Exam Practice
questions with correct answers 100%
2026
Who makes and changes the Commission rules?
Qualified state courts
The Commission
The state legislature
A committee appointed by the Governor - Correct Answers The Commission
The Human Rights Act exists to ensure that
national mandated rights are carried out.
basic rental rights laws are carried out.
local civil rights laws are carried out.
federal civil rights laws are carried out. - Correct Answers federal civil rights laws are carried out.
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 - Correct Answers The Tennessee Vacation Club Act of 1995
Which of the following is a section in the License Act?
,Obtaining listings
Office management
Selling and marketing
Qualifications and licensing - Correct Answers Qualifications and licensing
What is the overall purpose of the Tennessee Broker License Act?
To create brokers and affiliate brokers
To protect the public from irresponsible or unscrupulous people in the real estate business
To regulate real estate markets and broker commissions in Tennessee
To create a Real Estate Commission and a set of rules for it to enforce - Correct Answers To
protect the public from irresponsible or unscrupulous people in the real estate business
What is the purpose of the Commission rules?
To keep unlicensed persons from collecting commissions
To control the real estate industry in Tennessee
To test the effects of new regulations before they become law
To enable the Commission to carry out its duties under the License Act - Correct Answers To
enable the Commission to carry out its duties under the License Act
,When is it legal for the Commission to set real estate commissions?
At the beginning of the fiscal year
Whenever it sees fit
Never
When requested to do so by a competent court - Correct Answers Never
Which rule applies to the appointment of a full-time director of education?
The person must be a college graduate.
The person must hold a real estate license.
The person must be over 25 years of age.
The person must have lived in the State for over 5 years. - Correct Answers The person must be
a college graduate.
Among the Commission's duties and responsibilities are
establishing standards of practice for licensees.
establishing commission rates for standard services.
hiring instructors for real estate schools.
educating the public about licensee's illegal behavior. - Correct Answers establishing standards
of practice for licensees.
What minimum balance must always be maintained in the Recovery Fund?
$50,000
$100,000
, $500,000
$1,000,000 - Correct Answers $500,000
Which of the following actions can the Commission NOT take?
Regulate real estate training schools.
Establish ethic standards for licensees.
Set commissions.
Establish meeting dates to carry out its responsibilities. - Correct Answers Set commissions.
A person in violation of the Recovery Act cannot be reinstated until he or she has
repaid the full amount plus interest to the State Treasurer .
repaid the full amount plus interest to the victim.
repaid 50% of the full amount plus interest to the fund.
repaid the full amount plus interest to the fund. - Correct Answers repaid the full amount plus
interest to the fund.
How is the Real Estate Recovery Fund funded?
By appropriation in the state budget
By a tax on all real estate transactions
By fines levied on violators of the License Act
By fees paid by applicants for license and license renewal - Correct Answers By fees paid by
applicants for license and license renewal
How many of the members of the Commission may come from the real estate industry?
questions with correct answers 100%
2026
Who makes and changes the Commission rules?
Qualified state courts
The Commission
The state legislature
A committee appointed by the Governor - Correct Answers The Commission
The Human Rights Act exists to ensure that
national mandated rights are carried out.
basic rental rights laws are carried out.
local civil rights laws are carried out.
federal civil rights laws are carried out. - Correct Answers federal civil rights laws are carried out.
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 - Correct Answers The Tennessee Vacation Club Act of 1995
Which of the following is a section in the License Act?
,Obtaining listings
Office management
Selling and marketing
Qualifications and licensing - Correct Answers Qualifications and licensing
What is the overall purpose of the Tennessee Broker License Act?
To create brokers and affiliate brokers
To protect the public from irresponsible or unscrupulous people in the real estate business
To regulate real estate markets and broker commissions in Tennessee
To create a Real Estate Commission and a set of rules for it to enforce - Correct Answers To
protect the public from irresponsible or unscrupulous people in the real estate business
What is the purpose of the Commission rules?
To keep unlicensed persons from collecting commissions
To control the real estate industry in Tennessee
To test the effects of new regulations before they become law
To enable the Commission to carry out its duties under the License Act - Correct Answers To
enable the Commission to carry out its duties under the License Act
,When is it legal for the Commission to set real estate commissions?
At the beginning of the fiscal year
Whenever it sees fit
Never
When requested to do so by a competent court - Correct Answers Never
Which rule applies to the appointment of a full-time director of education?
The person must be a college graduate.
The person must hold a real estate license.
The person must be over 25 years of age.
The person must have lived in the State for over 5 years. - Correct Answers The person must be
a college graduate.
Among the Commission's duties and responsibilities are
establishing standards of practice for licensees.
establishing commission rates for standard services.
hiring instructors for real estate schools.
educating the public about licensee's illegal behavior. - Correct Answers establishing standards
of practice for licensees.
What minimum balance must always be maintained in the Recovery Fund?
$50,000
$100,000
, $500,000
$1,000,000 - Correct Answers $500,000
Which of the following actions can the Commission NOT take?
Regulate real estate training schools.
Establish ethic standards for licensees.
Set commissions.
Establish meeting dates to carry out its responsibilities. - Correct Answers Set commissions.
A person in violation of the Recovery Act cannot be reinstated until he or she has
repaid the full amount plus interest to the State Treasurer .
repaid the full amount plus interest to the victim.
repaid 50% of the full amount plus interest to the fund.
repaid the full amount plus interest to the fund. - Correct Answers repaid the full amount plus
interest to the fund.
How is the Real Estate Recovery Fund funded?
By appropriation in the state budget
By a tax on all real estate transactions
By fines levied on violators of the License Act
By fees paid by applicants for license and license renewal - Correct Answers By fees paid by
applicants for license and license renewal
How many of the members of the Commission may come from the real estate industry?
