TN Timeshare EXAM QUESTIONS AND
CORRECT DETAILED ANSWERS (VERIFIED
ANSWERS) |ALREADY GRADED A+
What can be a timeshare? - ANSWER✔✔-Anything unless prohibited by another
document or regulation.
What is a project instrument? - ANSWER✔✔-All documents associated with a
timeshare.
What is the Tennessee Real Estate Commission (TREC)? - ANSWER✔✔-The judicial
body of the real estate industry in Tennessee
Following discriminatory practices, you should make a complaint within ___ days -
ANSWER✔✔-180
What is a timeshare a estate? - ANSWER✔✔-Ownership or leasehold estate in property
devoted to a timeshare fee, tenants in common, time span ownership, and triple
ownership and a timeshare lease.
What is an acquisition agents? - ANSWER✔✔-Licensed and attends directly to
encourage any person to attend a sales presentation for a timeshare program
What is an exchange agent? - ANSWER✔✔-Agent for an exchange program
, What is a purchaser? - ANSWER✔✔-Anyone who buys a timeshare
What is a sales agent? - ANSWER✔✔-Person acting as a seller of any timeshare contract
(only cylinder specific timeshare developer) anyone who saw the timeshare
What is a person that sells more than five timeshares a year that are not their own? -
ANSWER✔✔-Timeshare resale broker
What is a unit? - ANSWER✔✔-Real property improvements in a project which is
divided into timeshare intervals
What is a managing agent? - ANSWER✔✔-Person with management duties and
responsibilities and obligations
What are timeshare units? - ANSWER✔✔-Timeshare units can be created in any unit
unless expressly prohibited by project and local governing laws
What should be included on the public offering statement? - ANSWER✔✔-The public
offering statement should contain:
Name of county where property is located
Legal description of property
Identification of time periods by letter name and number
Common expenses and voting rights
Any restrictions on occupancy alterations or alienation of timeshare units
CORRECT DETAILED ANSWERS (VERIFIED
ANSWERS) |ALREADY GRADED A+
What can be a timeshare? - ANSWER✔✔-Anything unless prohibited by another
document or regulation.
What is a project instrument? - ANSWER✔✔-All documents associated with a
timeshare.
What is the Tennessee Real Estate Commission (TREC)? - ANSWER✔✔-The judicial
body of the real estate industry in Tennessee
Following discriminatory practices, you should make a complaint within ___ days -
ANSWER✔✔-180
What is a timeshare a estate? - ANSWER✔✔-Ownership or leasehold estate in property
devoted to a timeshare fee, tenants in common, time span ownership, and triple
ownership and a timeshare lease.
What is an acquisition agents? - ANSWER✔✔-Licensed and attends directly to
encourage any person to attend a sales presentation for a timeshare program
What is an exchange agent? - ANSWER✔✔-Agent for an exchange program
, What is a purchaser? - ANSWER✔✔-Anyone who buys a timeshare
What is a sales agent? - ANSWER✔✔-Person acting as a seller of any timeshare contract
(only cylinder specific timeshare developer) anyone who saw the timeshare
What is a person that sells more than five timeshares a year that are not their own? -
ANSWER✔✔-Timeshare resale broker
What is a unit? - ANSWER✔✔-Real property improvements in a project which is
divided into timeshare intervals
What is a managing agent? - ANSWER✔✔-Person with management duties and
responsibilities and obligations
What are timeshare units? - ANSWER✔✔-Timeshare units can be created in any unit
unless expressly prohibited by project and local governing laws
What should be included on the public offering statement? - ANSWER✔✔-The public
offering statement should contain:
Name of county where property is located
Legal description of property
Identification of time periods by letter name and number
Common expenses and voting rights
Any restrictions on occupancy alterations or alienation of timeshare units
