TN Timeshare Exam 2026 Questions and
Answers
Where can timeshare units can be created? - Correct Answer -In any unit unless
prohibited by law
When shall a receipt of Public Offering Statement take place? - Correct Answer -
No later than the date of sale
What must the public offering statement have to be valid? - Correct Answer -Both
signed and dated
Disclosure of Recession rights must appear where? - Correct Answer -In the
contract and public offering statement, in bold print
Escrow accounts for timeshare sales cannot be held by who? - Correct Answer -
The developer
Who is ultimately responsible for Escrow funds? - Correct Answer -The Broker
Any person other than a developer or lender who acquires an interest in a
timeshare is called what? - Correct Answer -Purchaser
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, The maximum recession period for a person who visits a timeshare resort in
Tennessee and signs a contract of sale is how long? - Correct Answer -10 days
A timeshare contract is voidable by purchaser until what has happened? - Correct
Answer -Received a public offering statement and the 10 day recession period has
passed.
What is the person called who solicits people to attend a timeshare presentation? -
Correct Answer -Acquisition Agent
A person who exchanges timeshare intervals in exchange programs with other
timeshare intervals, is called what? - Correct Answer -Exchange Agent
Price increases in timeshare CANNOT be announced more than how many days
prior to the effective date? - Correct Answer -60
If an unlicensed person is fined by TREC, not the court, the maximum fine is
_____ per offense. - Correct Answer -$1000
The purpose of the "Tennessee Real Estate Brokers License Act of 1973" is: -
Correct Answer -To protect the public
A timeshare resort may offer a promotional gift as an inducement to tour if all of
the following conditions are met. What are the conditions? - Correct Answer -Fair
©COPYRIGHT 2025, ALL RIGHTS RESERVED 2
Answers
Where can timeshare units can be created? - Correct Answer -In any unit unless
prohibited by law
When shall a receipt of Public Offering Statement take place? - Correct Answer -
No later than the date of sale
What must the public offering statement have to be valid? - Correct Answer -Both
signed and dated
Disclosure of Recession rights must appear where? - Correct Answer -In the
contract and public offering statement, in bold print
Escrow accounts for timeshare sales cannot be held by who? - Correct Answer -
The developer
Who is ultimately responsible for Escrow funds? - Correct Answer -The Broker
Any person other than a developer or lender who acquires an interest in a
timeshare is called what? - Correct Answer -Purchaser
©COPYRIGHT 2025, ALL RIGHTS RESERVED 1
, The maximum recession period for a person who visits a timeshare resort in
Tennessee and signs a contract of sale is how long? - Correct Answer -10 days
A timeshare contract is voidable by purchaser until what has happened? - Correct
Answer -Received a public offering statement and the 10 day recession period has
passed.
What is the person called who solicits people to attend a timeshare presentation? -
Correct Answer -Acquisition Agent
A person who exchanges timeshare intervals in exchange programs with other
timeshare intervals, is called what? - Correct Answer -Exchange Agent
Price increases in timeshare CANNOT be announced more than how many days
prior to the effective date? - Correct Answer -60
If an unlicensed person is fined by TREC, not the court, the maximum fine is
_____ per offense. - Correct Answer -$1000
The purpose of the "Tennessee Real Estate Brokers License Act of 1973" is: -
Correct Answer -To protect the public
A timeshare resort may offer a promotional gift as an inducement to tour if all of
the following conditions are met. What are the conditions? - Correct Answer -Fair
©COPYRIGHT 2025, ALL RIGHTS RESERVED 2
