Tennessee License Law Questions and Answers Already Passed

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 Office management Selling and marketing Qualifications and licensing Qualifications and licensing The Human Rights Act exists to ensure that federal civil rights laws are carried out. In addition to the License Act and the Rules, what does the official manual contain? The Tennessee Human Rights Act What is the overall purpose of the Tennessee Broker License Act? To protect the public from irresponsible or unscrupulous people in the real estate business Who makes and changes the Commission rules? The Commission What are two laws that are particularly relevant to real estate licensees? The Consumer Protection Act and the Anti-Trust Law 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. Who makes and changes the laws in the License Act? The state legislature What is a Commission policy statement? An occasional amplification that becomes part of the rules What can the Commission do to stop an unlicensed person from acting as if licensed? Petition a court to make the individual stop. A person who acts as a broker without a broker's license has committed what type of crime? has committed a Class B misdemeanor. How is the Real Estate Recovery Fund funded? By fees paid by applicants for license and license renewal