Comprehensive Study 1 Up to Date Content
Real Estate Broker Exam Practice
Latest Questions and Graded
Answers
Who makes and changes the Commission rules?
Qualified state courts
The Commission
The state legislature
A committee appointed by the Governor
Ans: 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.
Ans: 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
Up to Date Content
,Comprehensive Study 2 Up to Date Content
The Vacations Act of 1988
Ans: 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
Ans: 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
Ans: To protect the public from irresponsible or
unscrupulous people in the real estate business
Up to Date Content
,Comprehensive Study 3 Up to Date Content
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
Ans: 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
Ans: Never
Which rule applies to the appointment of a full-time director
of education?
The person must be a college graduate.
Up to Date Content
, Comprehensive Study 4 Up to Date Content
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.
Ans: 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.
Ans: 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
Ans: $500,000
Which of the following actions can the Commission NOT
take?
Regulate real estate training schools.
Up to Date Content
Real Estate Broker Exam Practice
Latest Questions and Graded
Answers
Who makes and changes the Commission rules?
Qualified state courts
The Commission
The state legislature
A committee appointed by the Governor
Ans: 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.
Ans: 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
Up to Date Content
,Comprehensive Study 2 Up to Date Content
The Vacations Act of 1988
Ans: 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
Ans: 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
Ans: To protect the public from irresponsible or
unscrupulous people in the real estate business
Up to Date Content
,Comprehensive Study 3 Up to Date Content
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
Ans: 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
Ans: Never
Which rule applies to the appointment of a full-time director
of education?
The person must be a college graduate.
Up to Date Content
, Comprehensive Study 4 Up to Date Content
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.
Ans: 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.
Ans: 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
Ans: $500,000
Which of the following actions can the Commission NOT
take?
Regulate real estate training schools.
Up to Date Content
